EZJ vs. ^N225
EZJ (ProShares Ultra MSCI Japan) is Japan Equities fund tracking the MSCI Japan Index (200%), while ^N225 (Nikkei 225) is an index. Over the past 10 years, EZJ returned 9.99%/yr vs 9.08%/yr for ^N225. Their 0.34 correlation means their historical movements had little consistent relationship.
Performance
EZJ vs. ^N225 - Performance Comparison
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Different Trading Currencies
EZJ is traded in USD, while ^N225 is traded in JPY. To make them comparable, the ^N225 values have been converted to USD using the latest available exchange rates.
Returns By Period
In the year-to-date period, EZJ achieves a 23.68% return, which is significantly higher than ^N225's 20.44% return. Over the past 10 years, EZJ has outperformed ^N225 with an annualized return of 9.99%, while ^N225 has yielded a comparatively lower 9.08% annualized return.
EZJ
- 1D
- -1.58%
- 1M
- -2.03%
- 6M
- 10.39%
- YTD
- 23.68%
- 1Y
- 52.87%
- 3Y*
- 23.37%
- 5Y*
- 8.08%
- 10Y*
- 9.99%
- ALL TIME*
- 7.88%
^N225
- 1D
- 0.00%
- 1M
- -9.16%
- 6M
- 12.47%
- YTD
- 20.44%
- 1Y
- 40.01%
- 3Y*
- 18.24%
- 5Y*
- 9.27%
- 10Y*
- 9.08%
- ALL TIME*
- 5.46%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
^N225 Nikkei 225 | $61.65B | $64.15B | $69.97B |
| $65.91K | $120.27K | $216.70K |
EZJ vs. ^N225 - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
EZJ ProShares Ultra MSCI Japan | 23.68% | 42.72% | 3.31% | 30.78% | -38.23% | -1.96% | 22.21% | 33.76% | -30.99% | 49.10% |
^N225 Nikkei 225 | 20.44% | 26.56% | 7.17% | 19.21% | -20.48% | -5.90% | 22.42% | 19.73% | -10.20% | 23.76% |
Correlation
The correlation between EZJ and ^N225 is 0.35, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.35 |
Correlation (3Y) Balances recent behavior with more history. | 0.34 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.40 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.36 |
Correlation (All Time) Calculated using the full available price history since Jun 5, 2009 | 0.34 |
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Return for Risk
EZJ vs. ^N225 — Risk / Return Rank
EZJ
^N225
EZJ vs. ^N225 - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares Ultra MSCI Japan (EZJ) and Nikkei 225 (^N225). 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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| EZJ | ^N225 | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.26 | ||
| Sortino ratioReturn per unit of downside risk | -0.39 | ||
| Omega ratioGain probability vs. loss probability | 1.24 | 1.27 | -0.02 |
| Calmar ratioReturn relative to maximum drawdown | 2.06 | 2.74 | -0.69 |
| Martin ratioReturn relative to average drawdown | 5.92 | 8.27 | -2.34 |
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Drawdowns
EZJ vs. ^N225 - Drawdown Comparison
The maximum EZJ drawdown since its inception was -58.63%, which is greater than ^N225's maximum drawdown of -51.91%. Use the drawdown chart below to compare losses from any high point for EZJ and ^N225.
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Drawdown Indicators
| EZJ | ^N225 | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -58.63% | -51.91% | -6.72% |
Max Drawdown (1Y)Largest decline over 1 year | -26.78% | -16.07% | -10.71% |
Max Drawdown (3Y)Largest decline over 3 years | -31.48% | -24.78% | -6.70% |
Max Drawdown (5Y)Largest decline over 5 years | -58.63% | -36.26% | -22.37% |
Max Drawdown (10Y)Largest decline over 10 years | -58.63% | -37.97% | -20.66% |
Current DrawdownCurrent decline from peak | -10.32% | -13.47% | +3.15% |
Average DrawdownAverage peak-to-trough decline | -21.17% | -13.42% | -7.75% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 9.27% | 5.27% | +4.00% |
Volatility
EZJ vs. ^N225 - Volatility Comparison
ProShares Ultra MSCI Japan (EZJ) has a higher volatility of 15.30% compared to Nikkei 225 (^N225) at 9.81%. This indicates that EZJ's price experiences larger fluctuations and is considered to be riskier than ^N225 based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| EZJ | ^N225 | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 15.30% | 9.81% | +5.49% |
Volatility (6M)Calculated over the trailing 6-month period | 36.05% | 23.83% | +12.22% |
Volatility (1Y)Calculated over the trailing 1-year period | 42.75% | 28.40% | +14.35% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 37.50% | 24.38% | +13.12% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 34.85% | 21.82% | +13.03% |
Frequently Asked Questions
EZJ and ^N225 have a correlation of 0.35, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
EZJ has higher volatility (15.30%) compared to ^N225 (9.81%). In terms of maximum drawdown, EZJ dropped -58.63% vs ^N225's -51.91%.
^N225 currently has the higher Sharpe Ratio (1.55 vs 1.29), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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