NBJP vs. EWV
NBJP (Neuberger Berman Japan Equity ETF) and EWV (ProShares UltraShort MSCI Japan) are both exchange-traded funds - NBJP is a Japan Equities fund actively managed by Neuberger Berman, while EWV is a Leveraged Equities fund tracking the MSCI Japan Index (-200%). NBJP is actively managed, while EWV is passively managed. Over the past year, NBJP returned 35.11% vs -43.86% for EWV. At a correlation of -0.89, they often move in opposite directions. NBJP charges 0.50%/yr vs 0.95%/yr for EWV.
Performance
NBJP vs. EWV - Performance Comparison
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Returns By Period
In the year-to-date period, NBJP achieves a 18.88% return, which is significantly higher than EWV's -27.97% return.
NBJP
- 1D
- 0.32%
- 1M
- 7.23%
- YTD
- 18.88%
- 6M
- 21.26%
- 1Y
- 35.11%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
EWV
- 1D
- -0.28%
- 1M
- -12.11%
- YTD
- -27.97%
- 6M
- -29.61%
- 1Y
- -43.86%
- 3Y*
- -28.45%
- 5Y*
- -17.58%
- 10Y*
- -20.24%
NBJP vs. EWV - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
NBJP Neuberger Berman Japan Equity ETF | 18.88% | 30.41% | -3.34% |
EWV ProShares UltraShort MSCI Japan | -27.97% | -37.70% | 7.13% |
Correlation
The correlation between NBJP and EWV is -0.87, 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 | -0.87 |
Correlation (All Time) Calculated using the full available price history since Sep 13, 2024 | -0.89 |
The correlation between NBJP and EWV has been stable across timeframes, ranging from -0.89 to -0.87 - a consistent structural relationship.
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Return for Risk
NBJP vs. EWV — Risk / Return Rank
NBJP
EWV
NBJP vs. EWV - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Neuberger Berman Japan Equity ETF (NBJP) and ProShares UltraShort MSCI Japan (EWV). 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.
| NBJP | EWV | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.90 | ||
| Sortino ratioReturn per unit of downside risk | +4.17 | ||
| Omega ratioGain probability vs. loss probability | 1.32 | 0.80 | +0.52 |
| Calmar ratioReturn relative to maximum drawdown | 2.46 | -0.94 | +3.40 |
| Martin ratioReturn relative to average drawdown | 8.84 | -1.51 | +10.35 |
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
| NBJP | EWV | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.79 | -1.11 | +2.90 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | -0.48 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | -0.58 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.37 | -0.47 | +1.83 |
Drawdowns
NBJP vs. EWV - Drawdown Comparison
The maximum NBJP drawdown since its inception was -14.34%, smaller than the maximum EWV drawdown of -99.13%. Use the drawdown chart below to compare losses from any high point for NBJP and EWV.
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Drawdown Indicators
| NBJP | EWV | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -14.34% | -99.13% | +84.79% |
Max Drawdown (1Y)Largest decline over 1 year | -14.34% | -46.88% | +32.54% |
Max Drawdown (3Y)Largest decline over 3 years | — | -68.67% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -77.72% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -90.10% | — |
Current DrawdownCurrent decline from peak | -0.79% | -99.13% | +98.34% |
Average DrawdownAverage peak-to-trough decline | -3.22% | -84.28% | +81.06% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.98% | 29.05% | -25.07% |
Volatility
NBJP vs. EWV - Volatility Comparison
The current volatility for Neuberger Berman Japan Equity ETF (NBJP) is 5.49%, while ProShares UltraShort MSCI Japan (EWV) has a volatility of 9.11%. This indicates that NBJP experiences smaller price fluctuations and is considered to be less risky than EWV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| NBJP | EWV | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.49% | 9.11% | -3.62% |
Volatility (6M)Calculated over the trailing 6-month period | 16.51% | 31.22% | -14.71% |
Volatility (1Y)Calculated over the trailing 1-year period | 19.76% | 39.88% | -20.12% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.55% | 36.62% | -17.07% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.55% | 34.95% | -15.40% |
NBJP vs. EWV - Expense Ratio Comparison
NBJP has a 0.50% expense ratio, which is lower than EWV's 0.95% expense ratio.
Dividends
NBJP vs. EWV - Dividend Comparison
NBJP's dividend yield for the trailing twelve months is around 1.92%, less than EWV's 4.98% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
EWV ProShares UltraShort MSCI Japan | 4.98% | 3.63% | 3.39% | 3.42% | 0.65% | 0.00% | 0.00% | 0.33% | 0.00% |
NBJP Neuberger Berman Japan Equity ETF | 1.92% | 2.29% | 0.75% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
NBJP and EWV have a correlation of -0.87, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
EWV has higher volatility (9.11%) compared to NBJP (5.49%). In terms of maximum drawdown, NBJP dropped -14.34% vs EWV's -99.13%.
On 1-year performance, NBJP leads with 35.11% vs -43.86% for EWV. On fees, NBJP is cheaper at 0.50% per year. On volatility, NBJP has been the lower-risk option at 5.49%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, NBJP has performed better with a 35.11% return vs -43.86%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
NBJP is cheaper with a 0.50% expense ratio, compared with 0.95% for EWV.
EWV has the higher dividend yield at 4.98%, compared with 1.92% for NBJP.
NBJP is categorized as Japan Equities, while EWV is Leveraged Equities. They also come from different issuers: Neuberger Berman and ProShares. Their fees differ too: 0.50% for NBJP and 0.95% for EWV.
NBJP currently has the higher Sharpe Ratio (1.79 vs -1.11), 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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