EZJ vs. SPOG
EZJ (ProShares Ultra MSCI Japan) and SPOG (Leverage Shares 2X Long SPOT Daily ETF) are both Leveraged Equities funds. EZJ is passively managed, while SPOG is actively managed. At a 0.02 correlation, their price movements are largely independent. EZJ charges 0.95%/yr vs 0.75%/yr for SPOG.
Performance
EZJ vs. SPOG - Performance Comparison
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Returns By Period
In the year-to-date period, EZJ achieves a 29.29% return, which is significantly higher than SPOG's -40.37% 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%
SPOG
- 1D
- 1.97%
- 1M
- 33.09%
- YTD
- -40.37%
- 6M
- -36.60%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
EZJ vs. SPOG - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
EZJ ProShares Ultra MSCI Japan | 29.29% | 2.55% |
SPOG Leverage Shares 2X Long SPOT Daily ETF | -40.37% | -19.53% |
Correlation
The correlation between EZJ and SPOG is 0.02, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Nov 18, 2025 | 0.02 |
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Return for Risk
EZJ vs. SPOG — Risk / Return Rank
EZJ
SPOG
EZJ vs. SPOG - 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 SPOT Daily ETF (SPOG). 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 | SPOG | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 1.27 | — | — |
| Calmar ratioReturn relative to maximum drawdown | 2.21 | — | — |
| Martin ratioReturn relative to average drawdown | 6.79 | — | — |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| EZJ | SPOG | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.49 | — | — |
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 | -0.72 | +0.96 |
Drawdowns
EZJ vs. SPOG - Drawdown Comparison
The maximum EZJ drawdown since its inception was -58.63%, smaller than the maximum SPOG drawdown of -64.41%. Use the drawdown chart below to compare losses from any high point for EZJ and SPOG.
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Drawdown Indicators
| EZJ | SPOG | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -58.63% | -64.41% | +5.78% |
Max Drawdown (1Y)Largest decline over 1 year | -26.78% | — | — |
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 DrawdownCurrent decline from peak | -3.87% | -52.02% | +48.15% |
Average DrawdownAverage peak-to-trough decline | -21.28% | -40.51% | +19.23% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 8.72% | — | — |
Volatility
EZJ vs. SPOG - Volatility Comparison
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Volatility by Period
| EZJ | SPOG | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.46% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 30.74% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 39.67% | 103.50% | -63.83% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 36.58% | 103.50% | -66.92% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 34.53% | 103.50% | -68.97% |
EZJ vs. SPOG - Expense Ratio Comparison
EZJ has a 0.95% expense ratio, which is higher than SPOG's 0.75% expense ratio.
Dividends
EZJ vs. SPOG - Dividend Comparison
EZJ's dividend yield for the trailing twelve months is around 1.60%, while SPOG 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% |
SPOG Leverage Shares 2X Long SPOT Daily ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
EZJ and SPOG have a correlation of 0.02, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, SPOG is cheaper at 0.75% per year. The better choice depends on whether you care most about return, fees, risk, or income.
SPOG is cheaper with a 0.75% expense ratio, compared with 0.95% for EZJ.
EZJ has the higher dividend yield at 1.60%, compared with 0.00% for SPOG.
They also come from different issuers: ProShares and Leverage Shares. Their fees differ too: 0.95% for EZJ and 0.75% for SPOG.
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