EZJ vs. HOOG

Last updated Aug 5, 2026

EZJ (ProShares Ultra MSCI Japan) and HOOG (Leverage Shares 2X Long HOOD Daily ETF) are both exchange-traded funds - EZJ is a Japan Equities fund tracking the MSCI Japan Index (200%), while HOOG is a Leveraged Equities fund actively managed by Leverage Shares. EZJ is passively managed, while HOOG is actively managed. Over the past year, EZJ returned 54.78% vs -60.39% for HOOG. Their 0.41 correlation means their historical movements had little consistent relationship. EZJ charges 0.95%/yr vs 0.75%/yr for HOOG.

Performance

EZJ vs. HOOG - Performance Comparison

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

Returns By Period

In the year-to-date period, EZJ achieves a 29.20% return, which is significantly higher than HOOG's -54.67% return.

EZJ

• 1D: 3.68%
• 1M: 2.34%
• 6M: 12.88%
• YTD: 29.20%
• 1Y: 54.78%
• 3Y*: 26.39%
• 5Y*: 8.53%
• 10Y*: 10.05%
• ALL TIME*: 8.15%

HOOG

• 1D: 7.04%
• 1M: -34.67%
• 6M: -20.14%
• YTD: -54.67%
• 1Y: -60.39%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 59.95%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
EZJ ProShares Ultra MSCI Japan	$67.09K	$107.47K	$207.90K
HOOG Leverage Shares 2X Long HOOD Daily ETF	$10.64M	$13.05M	$16.67M

EZJ vs. HOOG - Yearly Performance Comparison

	2026 (YTD)	2025
EZJ ProShares Ultra MSCI Japan	29.20%	28.82%
HOOG Leverage Shares 2X Long HOOD Daily ETF	-54.67%	320.19%

Correlation

The correlation between EZJ and HOOG is 0.44, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.44
Correlation (All Time) Calculated using the full available price history since Mar 21, 2025	0.41

Return for Risk

EZJ vs. HOOG — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

EZJ

EZJ Risk / Return Rank: 47
EZJ Sharpe Ratio Rank: 45
EZJ Sortino Ratio Rank: 45
EZJ Omega Ratio Rank: 47
EZJ Calmar Ratio Rank: 51
EZJ Martin Ratio Rank: 47

HOOG

HOOG Risk / Return Rank: 6
HOOG Sharpe Ratio Rank: 5
HOOG Sortino Ratio Rank: 9
HOOG Omega Ratio Rank: 9
HOOG Calmar Ratio Rank: 4
HOOG Martin Ratio Rank: 4

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

EZJ vs. HOOG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares Ultra MSCI Japan (EZJ) 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.

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	HOOG	Difference
Sharpe ratio: Return per unit of total volatility	1.29	-0.43	+1.72
Sortino ratio: Return per unit of downside risk	1.84	0.05	+1.79
Omega ratio: Gain probability vs. loss probability	1.24	1.01	+0.24
Calmar ratio: Return relative to maximum drawdown	2.06	-0.70	+2.75
Martin ratio: Return relative to average drawdown	5.91	-0.99	+6.89

EZJ vs. HOOG - Sharpe Ratio Comparison

The current EZJ Sharpe Ratio is 1.29, which is higher than the HOOG Sharpe Ratio of -0.43. The chart below compares the historical Sharpe Ratios of EZJ and HOOG, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

EZJ vs. HOOG - Drawdown Comparison

The maximum EZJ drawdown since its inception was -58.63%, smaller than the maximum HOOG drawdown of -86.94%. Use the drawdown chart below to compare losses from any high point for EZJ and HOOG.

Drawdown Indicators

	EZJ	HOOG	Difference
Max Drawdown Largest peak-to-trough decline	-58.63%	-86.94%	+28.31%
Max Drawdown (1Y) Largest decline over 1 year	-26.78%	-86.94%	+60.16%
Max Drawdown (3Y) Largest decline over 3 years	-31.48%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-58.63%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-58.63%	—	—
Current Drawdown Current decline from peak	-6.31%	-78.86%	+72.55%
Average Drawdown Average peak-to-trough decline	-21.16%	-41.95%	+20.79%
Ulcer Index Depth and duration of drawdowns from previous peaks	9.30%	61.23%	-51.93%

Volatility

EZJ vs. HOOG - Volatility Comparison

The current volatility for ProShares Ultra MSCI Japan (EZJ) is 15.00%, while Leverage Shares 2X Long HOOD Daily ETF (HOOG) has a volatility of 35.77%. This indicates that EZJ 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

	EZJ	HOOG	Difference
Volatility (1M) Calculated over the trailing 1-month period	15.00%	35.77%	-20.77%
Volatility (6M) Calculated over the trailing 6-month period	36.21%	106.25%	-70.04%
Volatility (1Y) Calculated over the trailing 1-year period	42.87%	140.56%	-97.69%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	37.52%	143.89%	-106.37%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	34.85%	143.89%	-109.04%

EZJ vs. HOOG - Expense Ratio Comparison

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

Dividends

EZJ vs. HOOG - Dividend Comparison

EZJ's dividend yield for the trailing twelve months is around 1.84%, less than HOOG's 27.15% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
EZJ ProShares Ultra MSCI Japan	1.84%	1.13%	2.09%	1.11%	0.56%	0.00%	0.00%	0.24%	4.49%
HOOG Leverage Shares 2X Long HOOD Daily ETF	27.15%	12.30%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both EZJ and HOOG in my portfolio?

EZJ and HOOG have a correlation of 0.44, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, EZJ or HOOG?

HOOG has higher volatility (35.77%) compared to EZJ (15.00%). In terms of maximum drawdown, EZJ dropped -58.63% vs HOOG's -86.94%.

Which ETF is better, EZJ or HOOG?

On 1-year performance, EZJ leads with 54.78% vs -60.39% for HOOG. On fees, HOOG is cheaper at 0.75% per year. On volatility, EZJ has been the lower-risk option at 15.00%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, EZJ or HOOG?

Over the 1-year period, EZJ has performed better with a 54.78% return vs -60.39%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, EZJ or HOOG?

HOOG is cheaper with a 0.75% expense ratio, compared with 0.95% for EZJ.

Which ETF pays a higher dividend yield, EZJ or HOOG?

HOOG has the higher dividend yield at 27.15%, compared with 1.84% for EZJ.

What is the main difference between EZJ and HOOG?

EZJ is categorized as Japan Equities, while HOOG is Leveraged Equities. They also come from different issuers: ProShares and Leverage Shares. Their fees differ too: 0.95% for EZJ and 0.75% for HOOG.

Which has better risk-adjusted returns?

EZJ currently has the higher Sharpe Ratio (1.29 vs -0.43), 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.