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.
Performance
EZJ vs. SPXL - Performance Comparison
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EZJ vs. SPXL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
EZJ ProShares Ultra MSCI Japan | 11.08% | 42.72% | 3.31% | 30.78% | -38.23% | -1.96% | 22.21% | 33.76% | -30.99% | 49.10% |
SPXL Direxion Daily S&P 500 Bull 3X Shares | -14.06% | 31.94% | 63.61% | 69.49% | -56.55% | 98.75% | 9.64% | 102.80% | -25.11% | 71.03% |
Returns By Period
In the year-to-date period, EZJ achieves a 11.08% return, which is significantly higher than SPXL's -14.06% return. Over the past 10 years, EZJ has underperformed SPXL with an annualized return of 10.14%, while SPXL has yielded a comparatively higher 25.61% annualized return.
EZJ
- 1D
- 4.93%
- 1M
- -9.50%
- YTD
- 11.08%
- 6M
- 18.75%
- 1Y
- 56.99%
- 3Y*
- 23.69%
- 5Y*
- 4.55%
- 10Y*
- 10.14%
SPXL
- 1D
- 2.30%
- 1M
- -13.75%
- YTD
- -14.06%
- 6M
- -11.40%
- 1Y
- 34.55%
- 3Y*
- 38.52%
- 5Y*
- 17.51%
- 10Y*
- 25.61%
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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.
Return for Risk
EZJ vs. SPXL — Risk / Return Rank
EZJ
SPXL
EZJ vs. SPXL - Risk-Adjusted Trends 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.
| EZJ | SPXL | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.29 | 0.64 | +0.65 |
Sortino ratioReturn per unit of downside risk | 1.85 | 1.22 | +0.63 |
Omega ratioGain probability vs. loss probability | 1.25 | 1.18 | +0.07 |
Calmar ratioReturn relative to maximum drawdown | 2.06 | 1.07 | +0.98 |
Martin ratioReturn relative to average drawdown | 7.31 | 4.25 | +3.05 |
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 | SPXL | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.29 | 0.64 | +0.65 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.13 | 0.35 | -0.22 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.29 | 0.48 | -0.19 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.21 | 0.48 | -0.27 |
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.
Dividends
EZJ vs. SPXL - Dividend Comparison
EZJ's dividend yield for the trailing twelve months is around 1.86%, more than SPXL's 0.78% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
EZJ ProShares Ultra MSCI Japan | 1.86% | 1.13% | 2.09% | 1.11% | 0.56% | 0.00% | 0.00% | 0.24% | 4.49% | 0.00% |
SPXL Direxion Daily S&P 500 Bull 3X Shares | 0.78% | 0.69% | 0.74% | 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.
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Drawdown Indicators
| EZJ | SPXL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -58.63% | -76.86% | +18.23% |
Max Drawdown (1Y)Largest decline over 1 year | -26.78% | -33.42% | +6.64% |
Max Drawdown (5Y)Largest decline over 5 years | -58.63% | -63.80% | +5.17% |
Max Drawdown (10Y)Largest decline over 10 years | -58.63% | -76.86% | +18.23% |
Current DrawdownCurrent decline from peak | -17.41% | -18.62% | +1.21% |
Average DrawdownAverage peak-to-trough decline | -21.39% | -15.85% | -5.54% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 7.53% | 8.42% | -0.89% |
Volatility
EZJ vs. SPXL - Volatility Comparison
ProShares Ultra MSCI Japan (EZJ) has a higher volatility of 18.88% compared to Direxion Daily S&P 500 Bull 3X Shares (SPXL) at 16.04%. This indicates that EZJ's price experiences larger fluctuations and is considered to be riskier than SPXL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| EZJ | SPXL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 18.88% | 16.04% | +2.84% |
Volatility (6M)Calculated over the trailing 6-month period | 31.15% | 28.52% | +2.63% |
Volatility (1Y)Calculated over the trailing 1-year period | 44.49% | 54.32% | -9.83% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 36.39% | 50.26% | -13.87% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 34.55% | 53.36% | -18.81% |