OKLL vs. ULE

Last updated Apr 1, 2026

Compare and contrast key facts about Defiance Daily Target 2x Long OKLO ETF (OKLL) and ProShares Ultra Euro (ULE).

OKLL and ULE are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. OKLL is an actively managed fund by Defiance. It was launched on Jun 23, 2025. ULE is a passively managed fund by ProShares that tracks the performance of the USD/EUR Exchange Rate (-200%). It was launched on Nov 25, 2008.

Performance

OKLL vs. ULE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Defiance Daily Target 2x Long OKLO ETF (OKLL) and ProShares Ultra Euro (ULE). The values are adjusted to include any dividend payments, if applicable.

OKLL vs. ULE - Yearly Performance Comparison

	2026 (YTD)	2025
OKLL Defiance Daily Target 2x Long OKLO ETF	-63.92%	-30.34%
ULE ProShares Ultra Euro	-3.35%	0.92%

Returns By Period

In the year-to-date period, OKLL achieves a -63.92% return, which is significantly lower than ULE's -3.35% return.

OKLL

• 1D: 17.70%
• 1M: -42.27%
• YTD: -63.92%
• 6M: -89.96%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

ULE

• 1D: 2.13%
• 1M: -4.20%
• YTD: -3.35%
• 6M: -3.70%
• 1Y: 11.77%
• 3Y*: 3.45%
• 5Y*: -2.68%
• 10Y*: -2.78%

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

OKLL vs. ULE - Expense Ratio Comparison

OKLL has a 1.31% expense ratio, which is higher than ULE's 0.95% expense ratio.

OKLL

Defiance Daily Target 2x Long OKLO ETF

ULE

ProShares Ultra Euro

Return for Risk

OKLL vs. ULE — Risk / Return Rank

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

ULE

ULE Risk / Return Rank: 38
ULE Sharpe Ratio Rank: 38
ULE Sortino Ratio Rank: 42
ULE Omega Ratio Rank: 34
ULE Calmar Ratio Rank: 44
ULE Martin Ratio Rank: 31

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.

OKLL vs. ULE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Defiance Daily Target 2x Long OKLO ETF (OKLL) and ProShares Ultra Euro (ULE). 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	OKLL	ULE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	0.69	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	-0.17	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	-0.18	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.41	-0.21	-0.20

Correlation

The correlation between OKLL and ULE is 0.05, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

OKLL vs. ULE - Dividend Comparison

Neither OKLL nor ULE has paid dividends to shareholders.

Tickers have no history of dividend payments

Drawdowns

OKLL vs. ULE - Drawdown Comparison

The maximum OKLL drawdown since its inception was -96.29%, which is greater than ULE's maximum drawdown of -72.74%. Use the drawdown chart below to compare losses from any high point for OKLL and ULE.

Drawdown Indicators

	OKLL	ULE	Difference
Max Drawdown Largest peak-to-trough decline	-96.29%	-72.74%	-23.55%
Max Drawdown (1Y) Largest decline over 1 year	—	-10.40%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-41.35%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-51.30%	—
Current Drawdown Current decline from peak	-95.64%	-62.27%	-33.37%
Average Drawdown Average peak-to-trough decline	-53.44%	-45.90%	-7.54%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	4.28%	—

Volatility

Volatility by Period

	OKLL	ULE	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	4.84%	—
Volatility (6M) Calculated over the trailing 6-month period	—	9.12%	—
Volatility (1Y) Calculated over the trailing 1-year period	202.40%	17.10%	+185.30%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	202.40%	16.21%	+186.19%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	202.40%	15.31%	+187.09%