EZJ vs. IFED
EZJ (ProShares Ultra MSCI Japan) and IFED (ETRACS IFED Invest with the Fed TR Index ETN) are both Leveraged Equities funds - EZJ tracks the MSCI Japan Index (200%) while IFED tracks the IFED Large-Cap US Equity Index - Benchmark TR Gross. Both are passively managed. Over the past 3 years, EZJ returned 26.09%/yr vs 16.94%/yr for IFED. A 0.57 correlation means they provide meaningful diversification when combined. EZJ charges 0.95%/yr vs 0.45%/yr for IFED.
Performance
EZJ vs. IFED - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, EZJ achieves a 29.29% return, which is significantly higher than IFED's -2.98% return.
EZJ
- 1D
- 0.39%
- 1M
- 10.56%
- YTD
- 29.29%
- 6M
- 28.96%
- 1Y
- 58.99%
- 3Y*
- 26.09%
- 5Y*
- 7.76%
- 10Y*
- 10.56%
IFED
- 1D
- 0.56%
- 1M
- 5.41%
- YTD
- -2.98%
- 6M
- -2.59%
- 1Y
- 2.46%
- 3Y*
- 16.94%
- 5Y*
- —
- 10Y*
- —
EZJ vs. IFED - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
EZJ ProShares Ultra MSCI Japan | 29.29% | 42.72% | 3.31% | 30.78% | -38.23% | -17.28% |
IFED ETRACS IFED Invest with the Fed TR Index ETN | -2.98% | 15.02% | 23.04% | 20.78% | -1.46% | 8.46% |
Correlation
The correlation between EZJ and IFED is 0.41, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.41 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.50 |
Correlation (All Time) Calculated using the full available price history since Sep 16, 2021 | 0.57 |
The correlation between EZJ and IFED shifts across timeframes, from 0.41 (1 year) to 0.57 (all time), reflecting how their relationship changes across market environments.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
EZJ vs. IFED — Risk / Return Rank
EZJ
IFED
EZJ vs. IFED - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares Ultra MSCI Japan (EZJ) and ETRACS IFED Invest with the Fed TR Index ETN (IFED). 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.
| EZJ | IFED | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.34 | ||
| Sortino ratioReturn per unit of downside risk | +1.77 | ||
| Omega ratioGain probability vs. loss probability | 1.27 | 1.04 | +0.23 |
| Calmar ratioReturn relative to maximum drawdown | 2.21 | 0.17 | +2.05 |
| Martin ratioReturn relative to average drawdown | 6.79 | 0.43 | +6.36 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Loading charts...
Sharpe Ratios by Period
| EZJ | IFED | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.49 | 0.15 | +1.34 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.21 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.31 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.24 | 0.65 | -0.42 |
Drawdowns
EZJ vs. IFED - Drawdown Comparison
The maximum EZJ drawdown since its inception was -58.63%, which is greater than IFED's maximum drawdown of -22.36%. Use the drawdown chart below to compare losses from any high point for EZJ and IFED.
Loading charts...
Drawdown Indicators
| EZJ | IFED | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -58.63% | -22.36% | -36.27% |
Max Drawdown (1Y)Largest decline over 1 year | -26.78% | -14.65% | -12.13% |
Max Drawdown (3Y)Largest decline over 3 years | -31.48% | -22.36% | -9.12% |
Max Drawdown (5Y)Largest decline over 5 years | -58.63% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -58.63% | — | — |
Current DrawdownCurrent decline from peak | -3.87% | -4.97% | +1.10% |
Average DrawdownAverage peak-to-trough decline | -21.28% | -5.84% | -15.44% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 8.72% | 5.76% | +2.96% |
Volatility
EZJ vs. IFED - Volatility Comparison
ProShares Ultra MSCI Japan (EZJ) has a higher volatility of 8.46% compared to ETRACS IFED Invest with the Fed TR Index ETN (IFED) at 4.51%. This indicates that EZJ's price experiences larger fluctuations and is considered to be riskier than IFED based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| EZJ | IFED | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.46% | 4.51% | +3.95% |
Volatility (6M)Calculated over the trailing 6-month period | 30.74% | 12.87% | +17.87% |
Volatility (1Y)Calculated over the trailing 1-year period | 39.67% | 16.18% | +23.49% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 36.58% | 19.87% | +16.71% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 34.53% | 19.87% | +14.66% |
EZJ vs. IFED - Expense Ratio Comparison
EZJ has a 0.95% expense ratio, which is higher than IFED's 0.45% expense ratio.
Dividends
EZJ vs. IFED - Dividend Comparison
EZJ's dividend yield for the trailing twelve months is around 1.60%, while IFED has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
EZJ ProShares Ultra MSCI Japan | 1.60% | 1.13% | 2.09% | 1.11% | 0.56% | 0.00% | 0.00% | 0.24% | 4.49% |
IFED ETRACS IFED Invest with the Fed TR Index ETN | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
EZJ and IFED have a correlation of 0.41, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
EZJ has higher volatility (8.46%) compared to IFED (4.51%). In terms of maximum drawdown, EZJ dropped -58.63% vs IFED's -22.36%.
On 3-year performance, EZJ leads with 26.09% vs 16.94% for IFED. On fees, IFED is cheaper at 0.45% per year. On volatility, IFED has been the lower-risk option at 4.51%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, EZJ has performed better with a 26.09% return vs 16.94%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IFED is cheaper with a 0.45% expense ratio, compared with 0.95% for EZJ.
EZJ has the higher dividend yield at 1.60%, compared with 0.00% for IFED.
EZJ tracks MSCI Japan Index (200%), while IFED tracks IFED Large-Cap US Equity Index - Benchmark TR Gross. They also come from different issuers: ProShares and UBS. Their fees differ too: 0.95% for EZJ and 0.45% for IFED.
EZJ currently has the higher Sharpe Ratio (1.49 vs 0.15), 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.
Find the right allocation for EZJ and IFED
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer