GABC vs. EFO

Last updated Jun 3, 2026

GABC (German American Bancorp, Inc.) is a stock, while EFO (ProShares Ultra MSCI EAFE) is Leveraged Equities fund tracking the MSCI EAFE Index (200%). Over the past 10 years, GABC returned 10.14%/yr vs 10.34%/yr for EFO. At a 0.37 correlation, their price movements are largely independent.

Performance

GABC vs. EFO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in German American Bancorp, Inc. (GABC) and ProShares Ultra MSCI EAFE (EFO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, GABC achieves a 13.35% return, which is significantly lower than EFO's 14.68% return. Both investments have delivered pretty close results over the past 10 years, with GABC having a 10.14% annualized return and EFO not far ahead at 10.34%.

GABC

• 1D: 1.39%
• 1M: 1.57%
• YTD: 13.35%
• 6M: 12.58%
• 1Y: 19.30%
• 3Y*: 17.32%
• 5Y*: 4.03%
• 10Y*: 10.14%

EFO

• 1D: 0.97%
• 1M: 5.24%
• YTD: 14.68%
• 6M: 20.61%
• 1Y: 34.22%
• 3Y*: 24.15%
• 5Y*: 7.96%
• 10Y*: 10.34%

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

GABC vs. EFO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
GABC German American Bancorp, Inc.	13.35%	0.34%	27.90%	-10.24%	-1.96%	20.32%	-4.72%	31.11%	-20.02%	2.31%
EFO ProShares Ultra MSCI EAFE	14.68%	58.51%	-2.15%	25.77%	-33.62%	19.38%	2.29%	40.93%	-30.91%	51.78%

Correlation

The correlation between GABC and EFO is 0.37, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.37
Correlation (3Y) Calculated over the trailing 3-year period	0.34
Correlation (5Y) Calculated over the trailing 5-year period	0.37
Correlation (10Y) Calculated over the trailing 10-year period	0.37
Correlation (All Time) Calculated using the full available price history since Jun 5, 2009	0.37

Return for Risk

GABC vs. EFO — Risk / Return Rank

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

GABC

GABC Risk / Return Rank: 65
GABC Sharpe Ratio Rank: 67
GABC Sortino Ratio Rank: 62
GABC Omega Ratio Rank: 58
GABC Calmar Ratio Rank: 69
GABC Martin Ratio Rank: 70

EFO

EFO Risk / Return Rank: 33
EFO Sharpe Ratio Rank: 31
EFO Sortino Ratio Rank: 31
EFO Omega Ratio Rank: 30
EFO Calmar Ratio Rank: 34
EFO Martin Ratio Rank: 37

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.

GABC vs. EFO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for German American Bancorp, Inc. (GABC) and ProShares Ultra MSCI EAFE (EFO). 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.

	GABC	EFO	Difference
Sharpe ratio Return per unit of total volatility	0.85	1.13	-0.28
Sortino ratio Return per unit of downside risk	1.37	1.70	-0.33
Omega ratio Gain probability vs. loss probability	1.16	1.20	-0.04
Calmar ratio Return relative to maximum drawdown	1.59	1.71	-0.12
Martin ratio Return relative to average drawdown	3.90	5.94	-2.05
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

GABC vs. EFO - Sharpe Ratio Comparison

The current GABC Sharpe Ratio is 0.85, which is comparable to the EFO Sharpe Ratio of 1.13. The chart below compares the historical Sharpe Ratios of GABC and EFO, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	GABC	EFO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.85	1.13	-0.28
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.15	0.24	-0.09
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.35	0.30	+0.05
Sharpe Ratio (All Time) Calculated using the full available price history	0.26	0.23	+0.03

Drawdowns

GABC vs. EFO - Drawdown Comparison

The maximum GABC drawdown since its inception was -63.37%, roughly equal to the maximum EFO drawdown of -63.52%. Use the drawdown chart below to compare losses from any high point for GABC and EFO.

Drawdown Indicators

	GABC	EFO	Difference
Max Drawdown Largest peak-to-trough decline	-63.37%	-63.52%	+0.15%
Max Drawdown (1Y) Largest decline over 1 year	-11.30%	-22.18%	+10.88%
Max Drawdown (3Y) Largest decline over 3 years	-25.32%	-26.85%	+1.53%
Max Drawdown (5Y) Largest decline over 5 years	-38.28%	-53.95%	+15.67%
Max Drawdown (10Y) Largest decline over 10 years	-45.47%	-63.52%	+18.05%
Current Drawdown Current decline from peak	-1.17%	-4.03%	+2.86%
Average Drawdown Average peak-to-trough decline	-22.06%	-18.67%	-3.39%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.61%	6.39%	-1.78%

Volatility

GABC vs. EFO - Volatility Comparison

The current volatility for German American Bancorp, Inc. (GABC) is 5.19%, while ProShares Ultra MSCI EAFE (EFO) has a volatility of 10.29%. This indicates that GABC experiences smaller price fluctuations and is considered to be less risky than EFO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GABC	EFO	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.19%	10.29%	-5.10%
Volatility (6M) Calculated over the trailing 6-month period	15.61%	25.16%	-9.55%
Volatility (1Y) Calculated over the trailing 1-year period	22.78%	30.61%	-7.83%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	26.62%	32.98%	-6.36%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	28.86%	34.10%	-5.24%

Dividends

GABC vs. EFO - Dividend Comparison

GABC's dividend yield for the trailing twelve months is around 2.74%, more than EFO's 1.51% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
EFO ProShares Ultra MSCI EAFE	1.51%	1.65%	2.24%	1.93%	0.00%	0.00%	0.00%	0.37%	0.11%	0.00%	0.00%	0.00%
GABC German American Bancorp, Inc.	2.74%	2.96%	2.69%	3.09%	2.47%	2.15%	2.30%	1.91%	2.16%	1.46%	1.37%	2.04%

Frequently Asked Questions

Can I hold both GABC and EFO in my portfolio?

GABC and EFO have a correlation of 0.37, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, GABC or EFO?

EFO has higher volatility (10.29%) compared to GABC (5.19%). In terms of maximum drawdown, GABC dropped -63.37% vs EFO's -63.52%.

Which has better risk-adjusted returns?

EFO currently has the higher Sharpe Ratio (1.13 vs 0.85), 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.