EZJ vs. SPXL
Compare and contrast key facts about ProShares Ultra MSCI Japan (EZJ) and Direxion Daily S&P 500 Bull 3X Shares (SPXL).
EZJ and SPXL are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. EZJ is a passively managed fund by ProShares that tracks the performance of the MSCI Japan Index (200%). It was launched on Jun 2, 2009. SPXL is a passively managed fund by Direxion that tracks the performance of the S&P 500 Index (300%). It was launched on Nov 5, 2008. Both EZJ and SPXL are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: EZJ or SPXL.
Key characteristics
| EZJ | SPXL | |
|---|---|---|
| YTD Return | 8.54% | 24.97% |
| 1Y Return | 21.23% | 78.68% |
| 3Y Return (Ann) | -4.59% | 11.10% |
| 5Y Return (Ann) | 5.04% | 22.28% |
| 10Y Return (Ann) | 5.58% | 23.40% |
| Sharpe Ratio | 0.74 | 2.26 |
| Daily Std Dev | 29.46% | 34.36% |
| Max Drawdown | -58.63% | -76.86% |
| Current Drawdown | -27.47% | -9.58% |
Correlation
The correlation between EZJ and SPXL is 0.62, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.
Performance
EZJ vs. SPXL - Performance Comparison
In the year-to-date period, EZJ achieves a 8.54% return, which is significantly lower than SPXL's 24.97% return. Over the past 10 years, EZJ has underperformed SPXL with an annualized return of 5.58%, while SPXL has yielded a comparatively higher 23.40% annualized return. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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EZJ vs. SPXL - Expense Ratio Comparison
EZJ has a 0.95% expense ratio, which is lower than SPXL's 1.02% expense ratio.
Risk-Adjusted Performance
EZJ vs. SPXL - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares Ultra MSCI Japan (EZJ) and Direxion Daily S&P 500 Bull 3X Shares (SPXL). 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.
Dividends
EZJ vs. SPXL - Dividend Comparison
EZJ's dividend yield for the trailing twelve months is around 1.16%, more than SPXL's 0.89% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|
EZJ ProShares Ultra MSCI Japan | 1.16% | 1.11% | 0.56% | 0.00% | 0.00% | 0.24% | 4.49% | 0.00% |
SPXL Direxion Daily S&P 500 Bull 3X Shares | 0.89% | 0.98% | 0.32% | 0.11% | 0.22% | 0.84% | 1.02% | 3.88% |
Drawdowns
EZJ vs. SPXL - Drawdown Comparison
The maximum EZJ drawdown since its inception was -58.63%, smaller than the maximum SPXL drawdown of -76.86%. Use the drawdown chart below to compare losses from any high point for EZJ and SPXL. For additional features, visit the drawdowns tool.
Volatility
EZJ vs. SPXL - Volatility Comparison
The current volatility for ProShares Ultra MSCI Japan (EZJ) is 9.09%, while Direxion Daily S&P 500 Bull 3X Shares (SPXL) has a volatility of 11.68%. This indicates that EZJ experiences smaller price fluctuations and is considered to be less risky than SPXL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.