EWV vs. HOOG

Last updated Apr 2, 2026

Compare and contrast key facts about ProShares UltraShort MSCI Japan (EWV) and Leverage Shares 2X Long HOOD Daily ETF (HOOG).

EWV and HOOG are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. EWV is a passively managed fund by ProShares that tracks the performance of the MSCI Japan Index (-200%). It was launched on Nov 6, 2007. HOOG is an actively managed fund by Leverage Shares. It was launched on Mar 20, 2025.

Performance

EWV vs. HOOG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares UltraShort MSCI Japan (EWV) and Leverage Shares 2X Long HOOD Daily ETF (HOOG). The values are adjusted to include any dividend payments, if applicable.

EWV vs. HOOG - Yearly Performance Comparison

	2026 (YTD)	2025
EWV ProShares UltraShort MSCI Japan	-15.06%	-30.13%
HOOG Leverage Shares 2X Long HOOD Daily ETF	-67.70%	291.44%

Returns By Period

In the year-to-date period, EWV achieves a -15.06% return, which is significantly higher than HOOG's -67.70% return.

EWV

• 1D: -5.13%
• 1M: 6.61%
• YTD: -15.06%
• 6M: -21.77%
• 1Y: -45.71%
• 3Y*: -27.01%
• 5Y*: -15.32%
• 10Y*: -19.92%

HOOG

• 1D: 2.51%
• 1M: -24.23%
• YTD: -67.70%
• 6M: -82.07%
• 1Y: 43.29%
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

EWV vs. HOOG - Expense Ratio Comparison

EWV has a 0.95% expense ratio, which is higher than HOOG's 0.75% expense ratio.

EWV

ProShares UltraShort MSCI Japan

HOOG

Leverage Shares 2X Long HOOD Daily ETF

Return for Risk

EWV vs. HOOG — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

EWV

EWV Risk / Return Rank: 1
EWV Sharpe Ratio Rank: 0
EWV Sortino Ratio Rank: 1
EWV Omega Ratio Rank: 1
EWV Calmar Ratio Rank: 2
EWV Martin Ratio Rank: 4

HOOG

HOOG Risk / Return Rank: 32
HOOG Sharpe Ratio Rank: 19
HOOG Sortino Ratio Rank: 55
HOOG Omega Ratio Rank: 44
HOOG Calmar Ratio Rank: 23
HOOG Martin Ratio Rank: 19

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

EWV vs. HOOG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares UltraShort MSCI Japan (EWV) and Leverage Shares 2X Long HOOD Daily ETF (HOOG). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	EWV	HOOG	Difference
Sharpe ratio Return per unit of total volatility	-1.03	0.30	-1.33
Sortino ratio Return per unit of downside risk	-1.54	1.50	-3.04
Omega ratio Gain probability vs. loss probability	0.81	1.18	-0.37
Calmar ratio Return relative to maximum drawdown	-0.73	0.53	-1.26
Martin ratio Return relative to average drawdown	-1.05	1.11	-2.16
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

EWV vs. HOOG - Sharpe Ratio Comparison

The current EWV Sharpe Ratio is -1.03, which is lower than the HOOG Sharpe Ratio of 0.30. The chart below compares the historical Sharpe Ratios of EWV and HOOG, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	EWV	HOOG	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-1.03	0.30	-1.33
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.42	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	-0.57	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.45	0.18	-0.63

Correlation

The correlation between EWV and HOOG is -0.39. This indicates that the assets' prices tend to move in opposite directions. Negative correlation can be particularly beneficial for diversification and risk management, as one asset may offset the losses of the other during market fluctuations.

Dividends

EWV vs. HOOG - Dividend Comparison

EWV's dividend yield for the trailing twelve months is around 4.22%, less than HOOG's 38.10% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018
EWV ProShares UltraShort MSCI Japan	4.22%	3.63%	3.39%	3.42%	0.65%	0.00%	0.00%	0.33%	0.00%
HOOG Leverage Shares 2X Long HOOD Daily ETF	38.10%	12.30%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Drawdowns

EWV vs. HOOG - Drawdown Comparison

The maximum EWV drawdown since its inception was -99.12%, which is greater than HOOG's maximum drawdown of -86.94%. Use the drawdown chart below to compare losses from any high point for EWV and HOOG.

Drawdown Indicators

	EWV	HOOG	Difference
Max Drawdown Largest peak-to-trough decline	-99.12%	-86.94%	-12.18%
Max Drawdown (1Y) Largest decline over 1 year	-61.39%	-86.94%	+25.55%
Max Drawdown (5Y) Largest decline over 5 years	-77.29%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-91.03%	—	—
Current Drawdown Current decline from peak	-98.98%	-84.94%	-14.04%
Average Drawdown Average peak-to-trough decline	-84.14%	-30.17%	-53.97%
Ulcer Index Depth and duration of drawdowns from previous peaks	42.88%	41.37%	+1.51%

Volatility

EWV vs. HOOG - Volatility Comparison

The current volatility for ProShares UltraShort MSCI Japan (EWV) is 19.59%, while Leverage Shares 2X Long HOOD Daily ETF (HOOG) has a volatility of 35.44%. This indicates that EWV experiences smaller price fluctuations and is considered to be less risky than HOOG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	EWV	HOOG	Difference
Volatility (1M) Calculated over the trailing 1-month period	19.59%	35.44%	-15.85%
Volatility (6M) Calculated over the trailing 6-month period	30.79%	100.78%	-69.99%
Volatility (1Y) Calculated over the trailing 1-year period	44.59%	143.11%	-98.52%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	36.36%	143.62%	-107.26%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	34.99%	143.62%	-108.63%