UCC vs. EZJ
UCC (ProShares Ultra Consumer Services) and EZJ (ProShares Ultra MSCI Japan) are both exchange-traded funds - UCC is a Leveraged Equities fund tracking the Dow Jones U.S. Consumer Services Index (200%), while EZJ is a Japan Equities fund tracking the MSCI Japan Index (200%). Both are passively managed. Over the past 10 years, UCC returned 12.81%/yr vs 9.66%/yr for EZJ. A 0.51 correlation means they provide meaningful diversification when combined. Both charge a 0.95% expense ratio.
Performance
UCC vs. EZJ - Performance Comparison
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Returns By Period
In the year-to-date period, UCC achieves a -12.08% return, which is significantly lower than EZJ's 18.75% return. Over the past 10 years, UCC has outperformed EZJ with an annualized return of 12.81%, while EZJ has yielded a comparatively lower 9.66% annualized return.
UCC
- 1D
- -1.58%
- 1M
- -4.80%
- 6M
- -15.88%
- YTD
- -12.08%
- 1Y
- -1.65%
- 3Y*
- 10.74%
- 5Y*
- -2.17%
- 10Y*
- 12.81%
- ALL TIME*
- 13.01%
EZJ
- 1D
- -0.06%
- 1M
- -12.78%
- 6M
- 6.34%
- YTD
- 18.75%
- 1Y
- 55.15%
- 3Y*
- 21.97%
- 5Y*
- 6.98%
- 10Y*
- 9.66%
- ALL TIME*
- 7.64%
UCC vs. EZJ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
UCC ProShares Ultra Consumer Services | -12.08% | 2.21% | 44.24% | 61.67% | -57.59% | 20.92% | 46.55% | 53.76% | -4.94% | 42.05% |
EZJ ProShares Ultra MSCI Japan | 18.75% | 42.72% | 3.31% | 30.78% | -38.23% | -1.96% | 22.21% | 33.76% | -30.99% | 49.10% |
Correlation
The correlation between UCC and EZJ is 0.50, 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 | 0.50 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.52 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.56 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.52 |
Correlation (All Time) Calculated using the full available price history since Jun 5, 2009 | 0.51 |
The correlation between UCC and EZJ has been stable across timeframes, ranging from 0.50 to 0.56 - a consistent structural relationship.
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Return for Risk
UCC vs. EZJ — Risk / Return Rank
UCC
EZJ
UCC vs. EZJ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares Ultra Consumer Services (UCC) and ProShares Ultra MSCI Japan (EZJ). 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.
| UCC | EZJ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.34 | ||
| Sortino ratioReturn per unit of downside risk | -1.65 | ||
| Omega ratioGain probability vs. loss probability | 1.02 | 1.24 | -0.22 |
| Calmar ratioReturn relative to maximum drawdown | -0.06 | 2.07 | -2.13 |
| Martin ratioReturn relative to average drawdown | -0.14 | 6.12 | -6.26 |
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Drawdowns
UCC vs. EZJ - Drawdown Comparison
The maximum UCC drawdown since its inception was -83.05%, which is greater than EZJ's maximum drawdown of -58.63%. Use the drawdown chart below to compare losses from any high point for UCC and EZJ.
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Drawdown Indicators
| UCC | EZJ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -83.05% | -58.63% | -24.42% |
Max Drawdown (1Y)Largest decline over 1 year | -29.14% | -26.78% | -2.36% |
Max Drawdown (3Y)Largest decline over 3 years | -48.01% | -31.48% | -16.53% |
Max Drawdown (5Y)Largest decline over 5 years | -61.77% | -58.63% | -3.14% |
Max Drawdown (10Y)Largest decline over 10 years | -61.77% | -58.63% | -3.14% |
Current DrawdownCurrent decline from peak | -21.50% | -13.89% | -7.61% |
Average DrawdownAverage peak-to-trough decline | -21.78% | -21.19% | -0.59% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 11.57% | 9.04% | +2.53% |
Volatility
UCC vs. EZJ - Volatility Comparison
The current volatility for ProShares Ultra Consumer Services (UCC) is 10.88%, while ProShares Ultra MSCI Japan (EZJ) has a volatility of 14.91%. This indicates that UCC experiences smaller price fluctuations and is considered to be less risky than EZJ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| UCC | EZJ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 10.88% | 14.91% | -4.03% |
Volatility (6M)Calculated over the trailing 6-month period | 28.45% | 34.98% | -6.53% |
Volatility (1Y)Calculated over the trailing 1-year period | 37.40% | 42.70% | -5.30% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 43.97% | 37.22% | +6.75% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 40.78% | 34.71% | +6.07% |
UCC vs. EZJ - Expense Ratio Comparison
Both UCC and EZJ have an expense ratio of 0.95%.
Dividends
UCC vs. EZJ - Dividend Comparison
UCC's dividend yield for the trailing twelve months is around 1.31%, less than EZJ's 2.00% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EZJ ProShares Ultra MSCI Japan | 2.00% | 1.13% | 2.09% | 1.11% | 0.56% | 0.00% | 0.00% | 0.24% | 4.49% | 0.00% | 0.00% | 0.00% |
UCC ProShares Ultra Consumer Services | 1.31% | 1.10% | 0.17% | 0.04% | 0.25% | 0.00% | 0.02% | 0.17% | 0.18% | 0.14% | 0.21% | 0.14% |
Frequently Asked Questions
UCC and EZJ 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.
EZJ has higher volatility (14.91%) compared to UCC (10.88%). In terms of maximum drawdown, UCC dropped -83.05% vs EZJ's -58.63%.
On 10-year performance, UCC leads with 12.81% vs 9.66% for EZJ. Both ETFs have the same 0.95% expense ratio. On volatility, UCC has been the lower-risk option at 10.88%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, UCC has performed better with a 12.81% return vs 9.66%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
UCC and EZJ have the same expense ratio: 0.95% per year.
EZJ has the higher dividend yield at 2.00%, compared with 1.31% for UCC.
UCC is categorized as Leveraged Equities, while EZJ is Japan Equities. UCC tracks Dow Jones U.S. Consumer Services Index (200%), while EZJ tracks MSCI Japan Index (200%).
EZJ currently has the higher Sharpe Ratio (1.30 vs -0.04), 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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