MZZ vs. TSYX
MZZ (ProShares UltraShort MidCap400) and TSYX (TSPY Lift ETF) are both Leveraged Equities funds. MZZ is passively managed, while TSYX is actively managed. At a correlation of -0.77, they often move in opposite directions. MZZ charges 0.95%/yr vs 0.98%/yr for TSYX.
Performance
MZZ vs. TSYX - Performance Comparison
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Returns By Period
MZZ
- 1D
- -1.64%
- 1M
- -5.89%
- YTD
- -22.57%
- 6M
- -23.66%
- 1Y
- -35.66%
- 3Y*
- -23.59%
- 5Y*
- -16.74%
- 10Y*
- -25.27%
TSYX
- 1D
- 0.35%
- 1M
- 6.39%
- YTD
- —
- 6M
- —
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
MZZ vs. TSYX - Yearly Performance Comparison
| 2026 (YTD) | |
|---|---|
MZZ ProShares UltraShort MidCap400 | -17.24% |
TSYX TSPY Lift ETF | 8.88% |
Correlation
The correlation between MZZ and TSYX is -0.77, 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 (All Time) Calculated using the full available price history since Jan 8, 2026 | -0.77 |
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Return for Risk
MZZ vs. TSYX — Risk / Return Rank
MZZ
TSYX
MZZ vs. TSYX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares UltraShort MidCap400 (MZZ) and TSPY Lift ETF (TSYX). 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.
| MZZ | TSYX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | -1.15 | — | — |
Sortino ratioReturn per unit of downside risk | -1.65 | — | — |
Omega ratioGain probability vs. loss probability | 0.81 | — | — |
Calmar ratioReturn relative to maximum drawdown | -0.99 | — | — |
Martin ratioReturn relative to average drawdown | -1.73 | — | — |
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
| MZZ | TSYX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -1.15 | — | — |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.43 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | -0.61 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.60 | 1.31 | -1.91 |
Drawdowns
MZZ vs. TSYX - Drawdown Comparison
The maximum MZZ drawdown since its inception was -99.90%, which is greater than TSYX's maximum drawdown of -13.39%. Use the drawdown chart below to compare losses from any high point for MZZ and TSYX.
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Drawdown Indicators
| MZZ | TSYX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.90% | -13.39% | -86.51% |
Max Drawdown (1Y)Largest decline over 1 year | -35.22% | — | — |
Max Drawdown (3Y)Largest decline over 3 years | -62.13% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -68.64% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -95.10% | — | — |
Current DrawdownCurrent decline from peak | -99.90% | 0.00% | -99.90% |
Average DrawdownAverage peak-to-trough decline | -86.07% | -3.00% | -83.07% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 20.39% | — | — |
Volatility
MZZ vs. TSYX - Volatility Comparison
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Volatility by Period
| MZZ | TSYX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.88% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 22.99% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 31.15% | 18.30% | +12.85% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 39.16% | 18.30% | +20.86% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 41.39% | 18.30% | +23.09% |
MZZ vs. TSYX - Expense Ratio Comparison
MZZ has a 0.95% expense ratio, which is lower than TSYX's 0.98% expense ratio.
Dividends
MZZ vs. TSYX - Dividend Comparison
MZZ's dividend yield for the trailing twelve months is around 6.70%, more than TSYX's 5.77% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
MZZ ProShares UltraShort MidCap400 | 6.70% | 5.27% | 6.36% | 4.52% | 0.25% | 0.00% | 0.22% | 1.53% | 0.53% |
TSYX TSPY Lift ETF | 5.77% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
MZZ and TSYX have a correlation of -0.77, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, MZZ is cheaper at 0.95% per year. The better choice depends on whether you care most about return, fees, risk, or income.
MZZ is cheaper with a 0.95% expense ratio, compared with 0.98% for TSYX.
MZZ has the higher dividend yield at 6.70%, compared with 5.77% for TSYX.
They also come from different issuers: ProShares and TappAlpha. Their fees differ too: 0.95% for MZZ and 0.98% for TSYX.
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