UJB vs. EEV
UJB (ProShares Ultra High Yield) and EEV (ProShares UltraShort MSCI Emerging Markets) are both exchange-traded funds - UJB is a Leveraged Bonds fund tracking the Markit iBoxx $ Liquid High Yield Index, while EEV is a Leveraged Equities fund tracking the MSCI Emerging Markets Index (-200%). Both are passively managed. Over the past 10 years, UJB returned 5.51%/yr vs -24.12%/yr for EEV. At a correlation of -0.38, they often move in opposite directions. Both charge a 0.95% expense ratio.
Performance
UJB vs. EEV - Performance Comparison
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Returns By Period
In the year-to-date period, UJB achieves a 1.07% return, which is significantly higher than EEV's -39.72% return. Over the past 10 years, UJB has outperformed EEV with an annualized return of 5.51%, while EEV has yielded a comparatively lower -24.12% annualized return.
UJB
- 1D
- -0.12%
- 1M
- 0.61%
- YTD
- 1.07%
- 6M
- 1.41%
- 1Y
- 7.39%
- 3Y*
- 12.18%
- 5Y*
- 2.81%
- 10Y*
- 5.51%
EEV
- 1D
- 11.50%
- 1M
- -8.06%
- YTD
- -39.72%
- 6M
- -40.50%
- 1Y
- -56.22%
- 3Y*
- -33.55%
- 5Y*
- -15.31%
- 10Y*
- -24.12%
UJB vs. EEV - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
UJB ProShares Ultra High Yield | 1.07% | 12.22% | 9.41% | 17.70% | -23.27% | 6.96% | 5.19% | 26.68% | -6.08% | 11.77% |
EEV ProShares UltraShort MSCI Emerging Markets | -39.72% | -43.35% | -8.08% | -13.08% | 37.05% | -4.99% | -48.93% | -30.87% | 24.06% | -49.03% |
Correlation
The correlation between UJB and EEV is -0.61, 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 | -0.61 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.53 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.55 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.45 |
Correlation (All Time) Calculated using the full available price history since Apr 14, 2011 | -0.38 |
Over the past year, the inverse relationship between UJB and EEV has strengthened: their correlation has moved from -0.38 to -0.61, meaning they now move in opposite directions more often than their long-term average.
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Return for Risk
UJB vs. EEV — Risk / Return Rank
UJB
EEV
UJB vs. EEV - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares Ultra High Yield (UJB) and ProShares UltraShort MSCI Emerging Markets (EEV). 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.
| UJB | EEV | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.24 | ||
| Sortino ratioReturn per unit of downside risk | +3.68 | ||
| Omega ratioGain probability vs. loss probability | 1.19 | 0.75 | +0.44 |
| Calmar ratioReturn relative to maximum drawdown | 1.48 | -0.96 | +2.44 |
| Martin ratioReturn relative to average drawdown | 6.23 | -1.82 | +8.05 |
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Drawdowns
UJB vs. EEV - Drawdown Comparison
The maximum UJB drawdown since its inception was -40.14%, smaller than the maximum EEV drawdown of -99.88%. Use the drawdown chart below to compare losses from any high point for UJB and EEV.
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Drawdown Indicators
| UJB | EEV | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -40.14% | -99.88% | +59.74% |
Max Drawdown (1Y)Largest decline over 1 year | -5.01% | -58.68% | +53.67% |
Max Drawdown (3Y)Largest decline over 3 years | -9.47% | -77.51% | +68.04% |
Max Drawdown (5Y)Largest decline over 5 years | -30.14% | -81.14% | +51.00% |
Max Drawdown (10Y)Largest decline over 10 years | -40.14% | -94.47% | +54.33% |
Current DrawdownCurrent decline from peak | -0.59% | -99.87% | +99.28% |
Average DrawdownAverage peak-to-trough decline | -6.15% | -93.00% | +86.85% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.19% | 33.75% | -32.56% |
Volatility
UJB vs. EEV - Volatility Comparison
The current volatility for ProShares Ultra High Yield (UJB) is 1.96%, while ProShares UltraShort MSCI Emerging Markets (EEV) has a volatility of 24.52%. This indicates that UJB experiences smaller price fluctuations and is considered to be less risky than EEV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| UJB | EEV | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.96% | 24.52% | -22.56% |
Volatility (6M)Calculated over the trailing 6-month period | 5.90% | 41.58% | -35.68% |
Volatility (1Y)Calculated over the trailing 1-year period | 7.37% | 45.86% | -38.49% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.69% | 39.50% | -24.81% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.02% | 41.47% | -23.45% |
UJB vs. EEV - Expense Ratio Comparison
Both UJB and EEV have an expense ratio of 0.95%.
Dividends
UJB vs. EEV - Dividend Comparison
UJB's dividend yield for the trailing twelve months is around 3.34%, less than EEV's 7.17% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EEV ProShares UltraShort MSCI Emerging Markets | 7.17% | 5.40% | 4.45% | 3.45% | 0.27% | 0.00% | 0.14% | 1.34% | 0.38% | 0.00% | 0.00% | 0.00% |
UJB ProShares Ultra High Yield | 3.34% | 2.61% | 3.02% | 3.92% | 0.05% | 0.63% | 2.88% | 3.95% | 3.22% | 2.67% | 2.35% | 3.62% |
Frequently Asked Questions
UJB and EEV have a correlation of -0.61, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
EEV has higher volatility (24.52%) compared to UJB (1.96%). In terms of maximum drawdown, UJB dropped -40.14% vs EEV's -99.88%.
On 10-year performance, UJB leads with 5.51% vs -24.12% for EEV. Both ETFs have the same 0.95% expense ratio. On volatility, UJB has been the lower-risk option at 1.96%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, UJB has performed better with a 5.51% return vs -24.12%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
UJB and EEV have the same expense ratio: 0.95% per year.
EEV has the higher dividend yield at 7.17%, compared with 3.34% for UJB.
UJB is categorized as Leveraged Bonds, while EEV is Leveraged Equities. UJB tracks Markit iBoxx $ Liquid High Yield Index, while EEV tracks MSCI Emerging Markets Index (-200%).
UJB currently has the higher Sharpe Ratio (1.01 vs -1.23), 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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