EZJ vs. KORU

Last updated Jun 26, 2026

EZJ (ProShares Ultra MSCI Japan) and KORU (Direxion Daily South Korea Bull 3X Shares) are both Leveraged Equities funds - EZJ tracks the MSCI Japan Index (200%) while KORU tracks the MSCI Korea 25-50 Index. Both are passively managed. Over the past 10 years, EZJ returned 11.65%/yr vs 17.17%/yr for KORU. A 0.52 correlation means they provide meaningful diversification when combined. EZJ charges 0.95%/yr vs 1.29%/yr for KORU.

Performance

EZJ vs. KORU - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares Ultra MSCI Japan (EZJ) and Direxion Daily South Korea Bull 3X Shares (KORU). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, EZJ achieves a 27.24% return, which is significantly lower than KORU's 356.66% return. Over the past 10 years, EZJ has underperformed KORU with an annualized return of 11.65%, while KORU has yielded a comparatively higher 17.17% annualized return.

EZJ

• 1D: 1.48%
• 1M: 0.91%
• YTD: 27.24%
• 6M: 26.38%
• 1Y: 62.45%
• 3Y*: 26.61%
• 5Y*: 7.82%
• 10Y*: 11.65%

KORU

• 1D: 11.85%
• 1M: -18.31%
• YTD: 356.66%
• 6M: 393.86%
• 1Y: 905.39%
• 3Y*: 110.38%
• 5Y*: 14.71%
• 10Y*: 17.17%

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

EZJ vs. KORU - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
EZJ ProShares Ultra MSCI Japan	27.24%	42.72%	3.31%	30.78%	-38.23%	-1.96%	22.21%	33.76%	-30.99%	49.10%
KORU Direxion Daily South Korea Bull 3X Shares	356.66%	432.73%	-62.18%	28.61%	-70.16%	-33.86%	48.78%	5.47%	-59.89%	167.08%

Correlation

The correlation between EZJ and KORU is 0.56, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.56
Correlation (3Y) Calculated over the trailing 3-year period	0.52
Correlation (5Y) Calculated over the trailing 5-year period	0.57
Correlation (10Y) Calculated over the trailing 10-year period	0.54
Correlation (All Time) Calculated using the full available price history since Apr 10, 2013	0.52

The correlation between EZJ and KORU has been stable across timeframes, ranging from 0.52 to 0.57 - a consistent structural relationship.

EZJ vs. KORU - Sectors Allocation Comparison

Sectors	EZJ	KORU
Industrials	24.5%	15.2%
Technology	20.8%	63.4%
Financial Services	17.8%	7.4%
Consumer Cyclical	11.9%	5.5%
Communication Services	8.8%	2.1%
Healthcare	5.9%	2.5%
Consumer Defensive	3.5%	1.3%
Basic Materials	3.0%	1.4%
Real Estate	1.9%	-
Utilities	1.0%	0.3%
Energy	1.0%	0.9%

Return for Risk

EZJ vs. KORU — Risk / Return Rank

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

EZJ

EZJ Risk / Return Rank: 49
EZJ Sharpe Ratio Rank: 49
EZJ Sortino Ratio Rank: 45
EZJ Omega Ratio Rank: 48
EZJ Calmar Ratio Rank: 54
EZJ Martin Ratio Rank: 47

KORU

KORU Risk / Return Rank: 95
KORU Sharpe Ratio Rank: 99
KORU Sortino Ratio Rank: 90
KORU Omega Ratio Rank: 92
KORU Calmar Ratio Rank: 98
KORU Martin Ratio Rank: 98

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.

EZJ vs. KORU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares Ultra MSCI Japan (EZJ) and Direxion Daily South Korea Bull 3X Shares (KORU). 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	KORU	Difference
Sharpe ratio: Return per unit of total volatility	1.49	6.35	-4.86
Sortino ratio: Return per unit of downside risk	2.04	3.61	-1.56
Omega ratio: Gain probability vs. loss probability	1.27	1.53	-0.26
Calmar ratio: Return relative to maximum drawdown	2.34	14.90	-12.56
Martin ratio: Return relative to average drawdown	7.04	43.11	-36.07

EZJ vs. KORU - Sharpe Ratio Comparison

The current EZJ Sharpe Ratio is 1.49, which is lower than the KORU Sharpe Ratio of 6.35. The chart below compares the historical Sharpe Ratios of EZJ and KORU, 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. KORU - Drawdown Comparison

The maximum EZJ drawdown since its inception was -58.63%, smaller than the maximum KORU drawdown of -95.79%. Use the drawdown chart below to compare losses from any high point for EZJ and KORU.

Drawdown Indicators

	EZJ	KORU	Difference
Max Drawdown Largest peak-to-trough decline	-58.63%	-95.79%	+37.16%
Max Drawdown (1Y) Largest decline over 1 year	-26.78%	-61.39%	+34.61%
Max Drawdown (3Y) Largest decline over 3 years	-31.48%	-73.34%	+41.86%
Max Drawdown (5Y) Largest decline over 5 years	-58.63%	-93.34%	+34.71%
Max Drawdown (10Y) Largest decline over 10 years	-58.63%	-95.79%	+37.16%
Current Drawdown Current decline from peak	-7.74%	-34.45%	+26.71%
Average Drawdown Average peak-to-trough decline	-21.23%	-57.40%	+36.17%
Ulcer Index Depth and duration of drawdowns from previous peaks	8.90%	21.18%	-12.28%

Volatility

EZJ vs. KORU - Volatility Comparison

The current volatility for ProShares Ultra MSCI Japan (EZJ) is 16.40%, while Direxion Daily South Korea Bull 3X Shares (KORU) has a volatility of 88.86%. This indicates that EZJ experiences smaller price fluctuations and is considered to be less risky than KORU based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	EZJ	KORU	Difference
Volatility (1M) Calculated over the trailing 1-month period	16.40%	88.86%	-72.46%
Volatility (6M) Calculated over the trailing 6-month period	34.13%	139.03%	-104.90%
Volatility (1Y) Calculated over the trailing 1-year period	42.14%	144.03%	-101.89%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	37.14%	91.57%	-54.43%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	34.74%	83.10%	-48.36%

EZJ vs. KORU - Expense Ratio Comparison

EZJ has a 0.95% expense ratio, which is lower than KORU's 1.29% expense ratio.

Dividends

EZJ vs. KORU - Dividend Comparison

EZJ's dividend yield for the trailing twelve months is around 1.87%, more than KORU's 0.19% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
EZJ ProShares Ultra MSCI Japan	1.87%	1.13%	2.09%	1.11%	0.56%	0.00%	0.00%	0.24%	4.49%	0.00%
KORU Direxion Daily South Korea Bull 3X Shares	0.19%	0.89%	4.10%	2.55%	0.48%	0.76%	0.01%	0.93%	1.40%	3.59%

Frequently Asked Questions

Can I hold both EZJ and KORU in my portfolio?

EZJ and KORU have a correlation of 0.56, 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 KORU?

KORU has higher volatility (88.86%) compared to EZJ (16.40%). In terms of maximum drawdown, EZJ dropped -58.63% vs KORU's -95.79%.

Which ETF is better, EZJ or KORU?

On 10-year performance, KORU leads with 17.17% vs 11.65% for EZJ. On fees, EZJ is cheaper at 0.95% per year. On volatility, EZJ has been the lower-risk option at 16.40%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, EZJ or KORU?

Over the 10-year period, KORU has performed better with a 17.17% return vs 11.65%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, EZJ or KORU?

EZJ is cheaper with a 0.95% expense ratio, compared with 1.29% for KORU.

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

EZJ has the higher dividend yield at 1.87%, compared with 0.19% for KORU.

What is the main difference between EZJ and KORU?

EZJ tracks MSCI Japan Index (200%), while KORU tracks MSCI Korea 25-50 Index. They also come from different issuers: ProShares and Direxion. Their fees differ too: 0.95% for EZJ and 1.29% for KORU.

Which has better risk-adjusted returns?

KORU currently has the higher Sharpe Ratio (6.35 vs 1.49), 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.