MSOX vs. UST

Last updated Jun 14, 2026

MSOX (Advisorshares Msos 2x Daily ETF) and UST (ProShares Ultra 7-10 Year Treasury) are both exchange-traded funds - MSOX is a Leveraged Equities fund actively managed by AdvisorShares, while UST is a Leveraged Bonds fund tracking the Barclays Capital U.S. 7-10 Year Treasury Index (200%). MSOX is actively managed, while UST is passively managed. Over the past 3 years, MSOX returned -61.73%/yr vs 0.27%/yr for UST. At a 0.02 correlation, their price movements are largely independent. Both charge a 0.95% expense ratio.

Performance

MSOX vs. UST - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Advisorshares Msos 2x Daily ETF (MSOX) and ProShares Ultra 7-10 Year Treasury (UST). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MSOX achieves a -23.66% return, which is significantly lower than UST's -2.66% return.

MSOX

• 1D: -7.32%
• 1M: 24.82%
• YTD: -23.66%
• 6M: -56.93%
• 1Y: 45.53%
• 3Y*: -61.73%
• 5Y*: —
• 10Y*: —

UST

• 1D: -0.42%
• 1M: 1.78%
• YTD: -2.66%
• 6M: -2.37%
• 1Y: 3.24%
• 3Y*: 0.27%
• 5Y*: -6.96%
• 10Y*: -2.25%

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

MSOX vs. UST - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
MSOX Advisorshares Msos 2x Daily ETF	-23.66%	-51.20%	-87.32%	-39.26%	-76.29%
UST ProShares Ultra 7-10 Year Treasury	-2.66%	10.26%	-6.19%	0.16%	-11.65%

Correlation

The correlation between MSOX and UST is 0.04, 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 (1Y) Calculated over the trailing 1-year period	0.04
Correlation (3Y) Calculated over the trailing 3-year period	0.03
Correlation (All Time) Calculated using the full available price history since Aug 24, 2022	0.02

Return for Risk

MSOX vs. UST — Risk / Return Rank

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

MSOX

MSOX Risk / Return Rank: 25
MSOX Sharpe Ratio Rank: 12
MSOX Sortino Ratio Rank: 46
MSOX Omega Ratio Rank: 41
MSOX Calmar Ratio Rank: 15
MSOX Martin Ratio Rank: 13

UST

UST Risk / Return Rank: 13
UST Sharpe Ratio Rank: 14
UST Sortino Ratio Rank: 13
UST Omega Ratio Rank: 12
UST Calmar Ratio Rank: 13
UST Martin Ratio Rank: 13

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.

MSOX vs. UST - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Advisorshares Msos 2x Daily ETF (MSOX) and ProShares Ultra 7-10 Year Treasury (UST). 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.

	MSOX	UST	Difference
Sharpe ratio: Return per unit of total volatility	0.17	0.27	-0.10
Sortino ratio: Return per unit of downside risk	2.05	0.45	+1.60
Omega ratio: Gain probability vs. loss probability	1.24	1.05	+0.19
Calmar ratio: Return relative to maximum drawdown	0.43	0.28	+0.15
Martin ratio: Return relative to average drawdown	0.65	0.77	-0.12

MSOX vs. UST - Sharpe Ratio Comparison

The current MSOX Sharpe Ratio is 0.17, which is lower than the UST Sharpe Ratio of 0.27. The chart below compares the historical Sharpe Ratios of MSOX and UST, 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

MSOX vs. UST - Drawdown Comparison

The maximum MSOX drawdown since its inception was -99.75%, which is greater than UST's maximum drawdown of -47.99%. Use the drawdown chart below to compare losses from any high point for MSOX and UST.

Drawdown Indicators

	MSOX	UST	Difference
Max Drawdown Largest peak-to-trough decline	-99.75%	-47.99%	-51.76%
Max Drawdown (1Y) Largest decline over 1 year	-84.89%	-8.75%	-76.14%
Max Drawdown (3Y) Largest decline over 3 years	-98.83%	-16.66%	-82.17%
Max Drawdown (5Y) Largest decline over 5 years	—	-43.97%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-47.99%	—
Current Drawdown Current decline from peak	-99.50%	-38.19%	-61.31%
Average Drawdown Average peak-to-trough decline	-88.83%	-15.16%	-73.67%
Ulcer Index Depth and duration of drawdowns from previous peaks	56.03%	3.22%	+52.81%

Volatility

MSOX vs. UST - Volatility Comparison

Advisorshares Msos 2x Daily ETF (MSOX) has a higher volatility of 46.66% compared to ProShares Ultra 7-10 Year Treasury (UST) at 3.25%. This indicates that MSOX's price experiences larger fluctuations and is considered to be riskier than UST based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MSOX	UST	Difference
Volatility (1M) Calculated over the trailing 1-month period	46.66%	3.25%	+43.41%
Volatility (6M) Calculated over the trailing 6-month period	155.67%	6.75%	+148.92%
Volatility (1Y) Calculated over the trailing 1-year period	220.30%	9.35%	+210.95%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	168.37%	15.47%	+152.90%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	168.37%	13.18%	+155.19%

MSOX vs. UST - Expense Ratio Comparison

Both MSOX and UST have an expense ratio of 0.95%.

Dividends

MSOX vs. UST - Dividend Comparison

MSOX has not paid dividends to shareholders, while UST's dividend yield for the trailing twelve months is around 3.48%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
MSOX Advisorshares Msos 2x Daily ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
UST ProShares Ultra 7-10 Year Treasury	3.48%	3.65%	4.09%	3.49%	0.47%	0.27%	0.53%	1.42%	1.71%	0.84%	0.64%	0.75%

Frequently Asked Questions

Can I hold both MSOX and UST in my portfolio?

MSOX and UST have a correlation of 0.04, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, MSOX or UST?

MSOX has higher volatility (46.66%) compared to UST (3.25%). In terms of maximum drawdown, MSOX dropped -99.75% vs UST's -47.99%.

Which ETF is better, MSOX or UST?

On 3-year performance, UST leads with 0.27% vs -61.73% for MSOX. Both ETFs have the same 0.95% expense ratio. On volatility, UST has been the lower-risk option at 3.25%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, MSOX or UST?

Over the 3-year period, UST has performed better with a 0.27% return vs -61.73%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, MSOX or UST?

MSOX and UST have the same expense ratio: 0.95% per year.

Which ETF pays a higher dividend yield, MSOX or UST?

UST has the higher dividend yield at 3.48%, compared with 0.00% for MSOX.

What is the main difference between MSOX and UST?

MSOX is categorized as Leveraged Equities, while UST is Leveraged Bonds. They also come from different issuers: AdvisorShares and ProShares.

Which has better risk-adjusted returns?

UST currently has the higher Sharpe Ratio (0.27 vs 0.17), 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.