MYY vs. EMTY

Last updated Jun 3, 2026

MYY (ProShares Short S&P Mid Cap400) and EMTY (ProShares Decline of the Retail Store ETF) are both Inverse Equities funds from ProShares - MYY tracks the S&P Mid Cap 400 (-100%) while EMTY tracks the Solactive-ProShares Bricks and Mortar Retail Store Index (-100%). Both are passively managed. Over the past 5 years, MYY returned -6.02%/yr vs -2.85%/yr for EMTY. A 0.75 correlation means they provide meaningful diversification when combined. MYY charges 0.95%/yr vs 0.66%/yr for EMTY.

Performance

MYY vs. EMTY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares Short S&P Mid Cap400 (MYY) and ProShares Decline of the Retail Store ETF (EMTY). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MYY achieves a -11.15% return, which is significantly lower than EMTY's 1.41% return.

MYY

• 1D: -0.81%
• 1M: -2.87%
• YTD: -11.15%
• 6M: -11.58%
• 1Y: -17.83%
• 3Y*: -9.90%
• 5Y*: -6.02%
• 10Y*: -11.12%

EMTY

• 1D: 0.94%
• 1M: 4.32%
• YTD: 1.41%
• 6M: 3.18%
• 1Y: 0.17%
• 3Y*: -4.59%
• 5Y*: -2.85%
• 10Y*: —

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

MYY vs. EMTY - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
MYY ProShares Short S&P Mid Cap400	-11.15%	-4.05%	-7.08%	-9.46%	10.23%	-23.04%	-25.94%	-19.98%	12.79%	-3.70%
EMTY ProShares Decline of the Retail Store ETF	1.41%	-1.76%	-4.13%	0.27%	4.32%	-37.39%	-31.92%	-8.65%	11.16%	-14.16%

Correlation

The correlation between MYY and EMTY is 0.65, 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	0.65
Correlation (3Y) Calculated over the trailing 3-year period	0.71
Correlation (5Y) Calculated over the trailing 5-year period	0.77
Correlation (All Time) Calculated using the full available price history since Nov 17, 2017	0.75

The correlation between MYY and EMTY shifts across timeframes, from 0.65 (1 year) to 0.77 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

MYY vs. EMTY — Risk / Return Rank

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

MYY

MYY Risk / Return Rank: 1
MYY Sharpe Ratio Rank: 1
MYY Sortino Ratio Rank: 1
MYY Omega Ratio Rank: 1
MYY Calmar Ratio Rank: 0
MYY Martin Ratio Rank: 0

EMTY

EMTY Risk / Return Rank: 9
EMTY Sharpe Ratio Rank: 9
EMTY Sortino Ratio Rank: 8
EMTY Omega Ratio Rank: 9
EMTY Calmar Ratio Rank: 9
EMTY Martin Ratio Rank: 8

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.

MYY vs. EMTY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares Short S&P Mid Cap400 (MYY) and ProShares Decline of the Retail Store ETF (EMTY). 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	EMTY	Difference
Sharpe ratio Return per unit of total volatility	-1.15	0.01	-1.16
Sortino ratio Return per unit of downside risk	-1.56	0.13	-1.69
Omega ratio Gain probability vs. loss probability	0.82	1.02	-0.19
Calmar ratio Return relative to maximum drawdown	-0.99	0.01	-0.99
Martin ratio Return relative to average drawdown	-1.80	0.01	-1.82
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

MYY vs. EMTY - Sharpe Ratio Comparison

The current MYY Sharpe Ratio is -1.15, which is lower than the EMTY Sharpe Ratio of 0.01. The chart below compares the historical Sharpe Ratios of MYY and EMTY, 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

	MYY	EMTY	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-1.15	0.01	-1.16
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.31	-0.13	-0.18
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	-0.52	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.53	-0.43	-0.10

Drawdowns

MYY vs. EMTY - Drawdown Comparison

The maximum MYY drawdown since its inception was -95.08%, which is greater than EMTY's maximum drawdown of -77.62%. Use the drawdown chart below to compare losses from any high point for MYY and EMTY.

Drawdown Indicators

	MYY	EMTY	Difference
Max Drawdown Largest peak-to-trough decline	-95.08%	-77.62%	-17.46%
Max Drawdown (1Y) Largest decline over 1 year	-17.58%	-14.00%	-3.58%
Max Drawdown (3Y) Largest decline over 3 years	-33.48%	-30.83%	-2.65%
Max Drawdown (5Y) Largest decline over 5 years	-36.20%	-30.83%	-5.37%
Max Drawdown (10Y) Largest decline over 10 years	-71.22%	—	—
Current Drawdown Current decline from peak	-95.08%	-74.69%	-20.39%
Average Drawdown Average peak-to-trough decline	-72.14%	-54.00%	-18.14%
Ulcer Index Depth and duration of drawdowns from previous peaks	9.74%	8.11%	+1.63%

Volatility

MYY vs. EMTY - Volatility Comparison

The current volatility for ProShares Short S&P Mid Cap400 (MYY) is 4.49%, while ProShares Decline of the Retail Store ETF (EMTY) has a volatility of 6.31%. This indicates that MYY experiences smaller price fluctuations and is considered to be less risky than EMTY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MYY	EMTY	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.49%	6.31%	-1.82%
Volatility (6M) Calculated over the trailing 6-month period	11.42%	12.39%	-0.97%
Volatility (1Y) Calculated over the trailing 1-year period	15.59%	17.71%	-2.12%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.62%	22.37%	-2.75%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.26%	25.68%	-4.42%

MYY vs. EMTY - Expense Ratio Comparison

MYY has a 0.95% expense ratio, which is higher than EMTY's 0.66% expense ratio.

Dividends

MYY vs. EMTY - Dividend Comparison

MYY's dividend yield for the trailing twelve months is around 4.45%, more than EMTY's 3.44% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
EMTY ProShares Decline of the Retail Store ETF	3.44%	3.83%	6.00%	4.41%	0.65%	0.00%	0.07%	0.82%	0.62%	0.03%
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%	0.00%

Frequently Asked Questions

Can I hold both MYY and EMTY in my portfolio?

MYY and EMTY have a correlation of 0.65, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, MYY or EMTY?

EMTY has higher volatility (6.31%) compared to MYY (4.49%). In terms of maximum drawdown, MYY dropped -95.08% vs EMTY's -77.62%.

Which ETF is better, MYY or EMTY?

On 5-year performance, EMTY leads with -2.85% vs -6.02% for MYY. On fees, EMTY is cheaper at 0.66% per year. On volatility, MYY has been the lower-risk option at 4.49%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, MYY or EMTY?

Over the 5-year period, EMTY has performed better with a -2.85% return vs -6.02%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, MYY or EMTY?

EMTY is cheaper with a 0.66% expense ratio, compared with 0.95% for MYY.

Which ETF pays a higher dividend yield, MYY or EMTY?

MYY has the higher dividend yield at 4.45%, compared with 3.44% for EMTY.

What is the main difference between MYY and EMTY?

MYY tracks S&P Mid Cap 400 (-100%), while EMTY tracks Solactive-ProShares Bricks and Mortar Retail Store Index (-100%). Their fees differ too: 0.95% for MYY and 0.66% for EMTY.

Which has better risk-adjusted returns?

EMTY currently has the higher Sharpe Ratio (0.01 vs -1.15), 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.