MZZ vs. KORU
MZZ (ProShares UltraShort MidCap400) and KORU (Direxion Daily MSCI South Korea Bull 3X Shares) are both exchange-traded funds - MZZ is a Leveraged Equities fund tracking the S&P MidCap 400 Index (-200%), while KORU is a South Korea Equities fund tracking the MSCI Korea 25/50 Index. Both are passively managed. Over the past 10 years, MZZ returned -24.79%/yr vs 9.83%/yr for KORU. At a correlation of -0.54, they often move in opposite directions. MZZ charges 0.95%/yr vs 1.32%/yr for KORU.
Performance
MZZ vs. KORU - Performance Comparison
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Returns By Period
In the year-to-date period, MZZ achieves a -23.87% return, which is significantly lower than KORU's 206.79% return. Over the past 10 years, MZZ has underperformed KORU with an annualized return of -24.79%, while KORU has yielded a comparatively higher 9.83% annualized return.
MZZ
- 1D
- -0.17%
- 1M
- 0.80%
- 6M
- -16.61%
- YTD
- -23.87%
- 1Y
- -29.15%
- 3Y*
- -20.89%
- 5Y*
- -16.96%
- 10Y*
- -24.79%
KORU
- 1D
- -2.27%
- 1M
- -32.48%
- 6M
- 122.37%
- YTD
- 206.79%
- 1Y
- 581.75%
- 3Y*
- 83.74%
- 5Y*
- 8.55%
- 10Y*
- 9.83%
MZZ vs. KORU - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
MZZ ProShares UltraShort MidCap400 | -23.87% | -14.68% | -17.75% | -23.67% | 13.02% | -42.14% | -53.08% | -38.03% | 22.83% | -27.72% |
KORU Direxion Daily MSCI South Korea Bull 3X Shares | 206.79% | 432.73% | -62.18% | 28.61% | -70.16% | -33.86% | 48.78% | 5.47% | -59.89% | 167.08% |
Correlation
The correlation between MZZ and KORU is -0.50, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.50 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.51 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.55 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.54 |
Correlation (All Time) Calculated using the full available price history since Apr 10, 2013 | -0.54 |
The correlation between MZZ and KORU has been stable across timeframes, ranging from -0.55 to -0.50 - a consistent structural relationship.
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Return for Risk
MZZ vs. KORU — Risk / Return Rank
MZZ
KORU
MZZ vs. KORU - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares UltraShort MidCap400 (MZZ) and Direxion Daily MSCI South Korea Bull 3X Shares (KORU). 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.
| MZZ | KORU | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -4.75 | ||
| Sortino ratioReturn per unit of downside risk | -4.25 | ||
| Omega ratioGain probability vs. loss probability | 0.87 | 1.45 | -0.58 |
| Calmar ratioReturn relative to maximum drawdown | -0.80 | 9.28 | -10.08 |
| Martin ratioReturn relative to average drawdown | -1.48 | 24.23 | -25.70 |
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Drawdowns
MZZ vs. KORU - Drawdown Comparison
The maximum MZZ drawdown since its inception was -99.90%, roughly equal to the maximum KORU drawdown of -95.79%. Use the drawdown chart below to compare losses from any high point for MZZ and KORU.
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Drawdown Indicators
| MZZ | KORU | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.90% | -95.79% | -4.11% |
Max Drawdown (1Y)Largest decline over 1 year | -35.02% | -61.39% | +26.37% |
Max Drawdown (3Y)Largest decline over 3 years | -64.13% | -73.34% | +9.21% |
Max Drawdown (5Y)Largest decline over 5 years | -70.29% | -92.82% | +22.53% |
Max Drawdown (10Y)Largest decline over 10 years | -94.79% | -95.79% | +1.00% |
Current DrawdownCurrent decline from peak | -99.90% | -55.96% | -43.94% |
Average DrawdownAverage peak-to-trough decline | -86.13% | -57.38% | -28.75% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 18.96% | 23.48% | -4.52% |
Volatility
MZZ vs. KORU - Volatility Comparison
The current volatility for ProShares UltraShort MidCap400 (MZZ) is 9.27%, while Direxion Daily MSCI South Korea Bull 3X Shares (KORU) has a volatility of 73.55%. This indicates that MZZ experiences smaller price fluctuations and is considered to be less risky than KORU based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MZZ | KORU | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.27% | 73.55% | -64.28% |
Volatility (6M)Calculated over the trailing 6-month period | 23.59% | 142.90% | -119.31% |
Volatility (1Y)Calculated over the trailing 1-year period | 31.72% | 147.64% | -115.92% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 39.15% | 92.78% | -53.63% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 41.23% | 83.70% | -42.47% |
MZZ vs. KORU - Expense Ratio Comparison
MZZ has a 0.95% expense ratio, which is lower than KORU's 1.32% expense ratio.
Dividends
MZZ vs. KORU - Dividend Comparison
MZZ's dividend yield for the trailing twelve months is around 5.67%, more than KORU's 0.28% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
KORU Direxion Daily MSCI South Korea Bull 3X Shares | 0.28% | 0.89% | 4.10% | 2.55% | 0.48% | 0.76% | 0.01% | 0.93% | 1.40% | 3.59% |
MZZ ProShares UltraShort MidCap400 | 5.67% | 5.27% | 6.36% | 4.52% | 0.25% | 0.00% | 0.22% | 1.53% | 0.53% | 0.00% |
Frequently Asked Questions
MZZ and KORU have a correlation of -0.50, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
KORU has higher volatility (73.55%) compared to MZZ (9.27%). In terms of maximum drawdown, MZZ dropped -99.90% vs KORU's -95.79%.
On 10-year performance, KORU leads with 9.83% vs -24.79% for MZZ. On fees, MZZ is cheaper at 0.95% per year. On volatility, MZZ has been the lower-risk option at 9.27%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, KORU has performed better with a 9.83% return vs -24.79%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
MZZ is cheaper with a 0.95% expense ratio, compared with 1.32% for KORU.
MZZ has the higher dividend yield at 5.67%, compared with 0.28% for KORU.
MZZ is categorized as Leveraged Equities, while KORU is South Korea Equities. MZZ tracks S&P MidCap 400 Index (-200%), while KORU tracks MSCI Korea 25/50 Index. They also come from different issuers: ProShares and Direxion. Their fees differ too: 0.95% for MZZ and 1.32% for KORU.
KORU currently has the higher Sharpe Ratio (3.86 vs -0.88), 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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