EZJ vs. NVDG

Last updated Jun 26, 2026

EZJ (ProShares Ultra MSCI Japan) and NVDG (Leverage Shares 2X Long NVDA Daily ETF) are both Leveraged Equities funds. EZJ is passively managed, while NVDG is actively managed. Over the past year, EZJ returned 62.45% vs 26.25% for NVDG. At a 0.38 correlation, their price movements are largely independent. EZJ charges 0.95%/yr vs 0.75%/yr for NVDG.

Performance

EZJ vs. NVDG - 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 NVDA Daily ETF (NVDG). 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 higher than NVDG's -2.91% 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%

NVDG

• 1D: -2.92%
• 1M: -19.09%
• YTD: -2.91%
• 6M: -5.36%
• 1Y: 26.25%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

EZJ vs. NVDG - Yearly Performance Comparison

	2026 (YTD)	2025	2024
EZJ ProShares Ultra MSCI Japan	27.24%	42.72%	-6.65%
NVDG Leverage Shares 2X Long NVDA Daily ETF	-2.91%	32.45%	-0.52%

Correlation

The correlation between EZJ and NVDG is 0.35, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.35
Correlation (All Time) Calculated using the full available price history since Dec 13, 2024	0.38

Return for Risk

EZJ vs. NVDG — 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

NVDG

NVDG Risk / Return Rank: 17
NVDG Sharpe Ratio Rank: 15
NVDG Sortino Ratio Rank: 19
NVDG Omega Ratio Rank: 18
NVDG Calmar Ratio Rank: 17
NVDG Martin Ratio Rank: 15

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. NVDG - 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 NVDA Daily ETF (NVDG). 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	NVDG	Difference
Sharpe ratio: Return per unit of total volatility	1.49	0.38	+1.11
Sortino ratio: Return per unit of downside risk	2.04	1.00	+1.05
Omega ratio: Gain probability vs. loss probability	1.27	1.12	+0.15
Calmar ratio: Return relative to maximum drawdown	2.34	0.62	+1.73
Martin ratio: Return relative to average drawdown	7.04	1.33	+5.71

EZJ vs. NVDG - Sharpe Ratio Comparison

The current EZJ Sharpe Ratio is 1.49, which is higher than the NVDG Sharpe Ratio of 0.38. The chart below compares the historical Sharpe Ratios of EZJ and NVDG, 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. NVDG - Drawdown Comparison

The maximum EZJ drawdown since its inception was -58.63%, smaller than the maximum NVDG drawdown of -66.19%. Use the drawdown chart below to compare losses from any high point for EZJ and NVDG.

Drawdown Indicators

	EZJ	NVDG	Difference
Max Drawdown Largest peak-to-trough decline	-58.63%	-66.19%	+7.56%
Max Drawdown (1Y) Largest decline over 1 year	-26.78%	-42.72%	+15.94%
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	-7.74%	-33.33%	+25.59%
Average Drawdown Average peak-to-trough decline	-21.23%	-23.10%	+1.87%
Ulcer Index Depth and duration of drawdowns from previous peaks	8.90%	19.80%	-10.90%

Volatility

EZJ vs. NVDG - Volatility Comparison

The current volatility for ProShares Ultra MSCI Japan (EZJ) is 16.40%, while Leverage Shares 2X Long NVDA Daily ETF (NVDG) has a volatility of 25.96%. This indicates that EZJ experiences smaller price fluctuations and is considered to be less risky than NVDG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	EZJ	NVDG	Difference
Volatility (1M) Calculated over the trailing 1-month period	16.40%	25.96%	-9.56%
Volatility (6M) Calculated over the trailing 6-month period	34.13%	52.33%	-18.20%
Volatility (1Y) Calculated over the trailing 1-year period	42.14%	70.14%	-28.00%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	37.14%	90.40%	-53.26%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	34.74%	90.40%	-55.66%

EZJ vs. NVDG - Expense Ratio Comparison

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

Dividends

EZJ vs. NVDG - Dividend Comparison

EZJ's dividend yield for the trailing twelve months is around 1.87%, less than NVDG's 12.17% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
EZJ ProShares Ultra MSCI Japan	1.87%	1.13%	2.09%	1.11%	0.56%	0.00%	0.00%	0.24%	4.49%
NVDG Leverage Shares 2X Long NVDA Daily ETF	12.17%	11.81%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both EZJ and NVDG in my portfolio?

EZJ and NVDG 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.

Which is riskier, EZJ or NVDG?

NVDG has higher volatility (25.96%) compared to EZJ (16.40%). In terms of maximum drawdown, EZJ dropped -58.63% vs NVDG's -66.19%.

Which ETF is better, EZJ or NVDG?

On 1-year performance, EZJ leads with 62.45% vs 26.25% for NVDG. On fees, NVDG is cheaper at 0.75% 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 NVDG?

Over the 1-year period, EZJ has performed better with a 62.45% return vs 26.25%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, EZJ or NVDG?

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

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

NVDG has the higher dividend yield at 12.17%, compared with 1.87% for EZJ.

What is the main difference between EZJ and NVDG?

They also come from different issuers: ProShares and Leverage Shares. Their fees differ too: 0.95% for EZJ and 0.75% for NVDG.

Which has better risk-adjusted returns?

EZJ currently has the higher Sharpe Ratio (1.49 vs 0.38), 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.