MYY vs. EFZ
MYY (ProShares Short S&P Mid Cap400) and EFZ (ProShares Short MSCI EAFE) are both Inverse Equities funds from ProShares - MYY tracks the S&P Mid Cap 400 (-100%) while EFZ tracks the MSCI EAFE Index (-100%). Both are passively managed. Over the past 10 years, MYY returned -11.12%/yr vs -8.29%/yr for EFZ. A 0.76 correlation means they provide meaningful diversification when combined. Both charge a 0.95% expense ratio.
Performance
MYY vs. EFZ - Performance Comparison
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Returns By Period
In the year-to-date period, MYY achieves a -11.13% return, which is significantly lower than EFZ's -6.98% return. Over the past 10 years, MYY has underperformed EFZ with an annualized return of -11.12%, while EFZ has yielded a comparatively higher -8.29% annualized return.
MYY
- 1D
- 0.02%
- 1M
- -3.52%
- YTD
- -11.13%
- 6M
- -11.03%
- 1Y
- -16.67%
- 3Y*
- -9.90%
- 5Y*
- -5.92%
- 10Y*
- -11.12%
EFZ
- 1D
- 0.88%
- 1M
- -3.23%
- YTD
- -6.98%
- 6M
- -8.53%
- 1Y
- -14.24%
- 3Y*
- -9.77%
- 5Y*
- -5.38%
- 10Y*
- -8.29%
MYY vs. EFZ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
MYY ProShares Short S&P Mid Cap400 | -11.13% | -4.05% | -7.08% | -9.46% | 10.23% | -23.04% | -25.94% | -19.98% | 12.79% | -14.63% |
EFZ ProShares Short MSCI EAFE | -6.98% | -20.92% | 2.90% | -10.38% | 13.15% | -12.75% | -16.02% | -16.56% | 16.26% | -20.18% |
Correlation
The correlation between MYY and EFZ is 0.64, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.64 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.68 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.74 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.73 |
Correlation (All Time) Calculated using the full available price history since Oct 26, 2007 | 0.76 |
The correlation between MYY and EFZ shifts across timeframes, from 0.64 (1 year) to 0.76 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
MYY vs. EFZ — Risk / Return Rank
MYY
EFZ
MYY vs. EFZ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares Short S&P Mid Cap400 (MYY) and ProShares Short MSCI EAFE (EFZ). 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.
| MYY | EFZ | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | -1.08 | -0.88 | -0.20 |
Sortino ratioReturn per unit of downside risk | -1.45 | -1.18 | -0.27 |
Omega ratioGain probability vs. loss probability | 0.83 | 0.86 | -0.03 |
Calmar ratioReturn relative to maximum drawdown | -0.95 | -0.82 | -0.13 |
Martin ratioReturn relative to average drawdown | -1.75 | -1.47 | -0.28 |
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
| MYY | EFZ | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -1.08 | -0.88 | -0.20 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.30 | -0.32 | +0.02 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | -0.52 | -0.48 | -0.05 |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.53 | -0.34 | -0.19 |
Drawdowns
MYY vs. EFZ - Drawdown Comparison
The maximum MYY drawdown since its inception was -95.08%, which is greater than EFZ's maximum drawdown of -88.08%. Use the drawdown chart below to compare losses from any high point for MYY and EFZ.
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Drawdown Indicators
| MYY | EFZ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -95.08% | -88.08% | -7.00% |
Max Drawdown (1Y)Largest decline over 1 year | -17.58% | -17.36% | -0.22% |
Max Drawdown (3Y)Largest decline over 3 years | -33.48% | -35.42% | +1.94% |
Max Drawdown (5Y)Largest decline over 5 years | -36.20% | -43.77% | +7.57% |
Max Drawdown (10Y)Largest decline over 10 years | -71.22% | -61.88% | -9.34% |
Current DrawdownCurrent decline from peak | -95.07% | -87.82% | -7.25% |
Average DrawdownAverage peak-to-trough decline | -72.15% | -67.08% | -5.07% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 9.56% | 9.71% | -0.15% |
Volatility
MYY vs. EFZ - Volatility Comparison
The current volatility for ProShares Short S&P Mid Cap400 (MYY) is 4.41%, while ProShares Short MSCI EAFE (EFZ) has a volatility of 5.19%. This indicates that MYY experiences smaller price fluctuations and is considered to be less risky than EFZ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MYY | EFZ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.41% | 5.19% | -0.78% |
Volatility (6M)Calculated over the trailing 6-month period | 11.40% | 13.49% | -2.09% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.59% | 16.35% | -0.76% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.62% | 16.72% | +2.90% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.25% | 17.38% | +3.87% |
MYY vs. EFZ - Expense Ratio Comparison
Both MYY and EFZ have an expense ratio of 0.95%.
Dividends
MYY vs. EFZ - Dividend Comparison
MYY's dividend yield for the trailing twelve months is around 4.45%, more than EFZ's 4.04% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
EFZ ProShares Short MSCI EAFE | 4.04% | 4.55% | 5.29% | 4.66% | 0.57% | 0.00% | 0.04% | 1.56% | 0.34% |
MYY ProShares Short S&P Mid Cap400 | 4.45% | 4.20% | 4.92% | 5.08% | 0.40% | 0.00% | 0.05% | 1.52% | 0.34% |
Frequently Asked Questions
MYY and EFZ have a correlation of 0.64, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
EFZ has higher volatility (5.19%) compared to MYY (4.41%). In terms of maximum drawdown, MYY dropped -95.08% vs EFZ's -88.08%.
On 10-year performance, EFZ leads with -8.29% vs -11.12% for MYY. Both ETFs have the same 0.95% expense ratio. On volatility, MYY has been the lower-risk option at 4.41%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, EFZ has performed better with a -8.29% return vs -11.12%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
MYY and EFZ have the same expense ratio: 0.95% per year.
MYY has the higher dividend yield at 4.45%, compared with 4.04% for EFZ.
MYY tracks S&P Mid Cap 400 (-100%), while EFZ tracks MSCI EAFE Index (-100%).
EFZ currently has the higher Sharpe Ratio (-0.88 vs -1.08), 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.
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