UJB vs. ERY
UJB (ProShares Ultra High Yield) and ERY (Direxion Daily Energy Bear 2X Shares) are both exchange-traded funds - UJB is a Leveraged Bonds fund tracking the Markit iBoxx $ Liquid High Yield Index, while ERY is a Leveraged Equities fund tracking the Energy Select Sector Index (-300%). Both are passively managed. Over the past 10 years, UJB returned 6.36%/yr vs -33.88%/yr for ERY. At a correlation of -0.26, they often move in opposite directions. UJB charges 0.95%/yr vs 1.07%/yr for ERY.
Performance
UJB vs. ERY - Performance Comparison
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Returns By Period
In the year-to-date period, UJB achieves a 1.09% return, which is significantly higher than ERY's -44.59% return. Over the past 10 years, UJB has outperformed ERY with an annualized return of 6.36%, while ERY has yielded a comparatively lower -33.88% annualized return.
UJB
- 1D
- 0.28%
- 1M
- 0.36%
- YTD
- 1.09%
- 6M
- 1.55%
- 1Y
- 8.38%
- 3Y*
- 11.70%
- 5Y*
- 3.06%
- 10Y*
- 6.36%
ERY
- 1D
- -0.18%
- 1M
- 1.11%
- YTD
- -44.59%
- 6M
- -42.08%
- 1Y
- -55.06%
- 3Y*
- -28.20%
- 5Y*
- -38.05%
- 10Y*
- -33.88%
UJB vs. ERY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
UJB ProShares Ultra High Yield | 1.09% | 12.22% | 9.41% | 17.70% | -23.27% | 6.96% | 5.19% | 26.68% | -6.08% | 11.77% |
ERY Direxion Daily Energy Bear 2X Shares | -44.59% | -18.54% | -5.58% | -0.35% | -73.61% | -68.00% | -11.94% | -38.67% | 45.61% | -5.67% |
Correlation
The correlation between UJB and ERY is 0.11, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.11 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.14 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.22 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.26 |
Correlation (All Time) Calculated using the full available price history since Apr 15, 2011 | -0.26 |
The correlation between UJB and ERY shifts across timeframes, from -0.26 (all time) to 0.11 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
UJB vs. ERY — Risk / Return Rank
UJB
ERY
UJB vs. ERY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares Ultra High Yield (UJB) and Direxion Daily Energy Bear 2X Shares (ERY). 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.
| UJB | ERY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.52 | ||
| Sortino ratioReturn per unit of downside risk | +4.12 | ||
| Omega ratioGain probability vs. loss probability | 1.22 | 0.76 | +0.46 |
| Calmar ratioReturn relative to maximum drawdown | 1.68 | -0.92 | +2.60 |
| Martin ratioReturn relative to average drawdown | 7.15 | -1.65 | +8.80 |
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
| UJB | ERY | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.16 | -1.36 | +2.52 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.21 | -0.74 | +0.95 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.35 | -0.48 | +0.83 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.33 | -0.55 | +0.88 |
Drawdowns
UJB vs. ERY - Drawdown Comparison
The maximum UJB drawdown since its inception was -40.14%, smaller than the maximum ERY drawdown of -99.99%. Use the drawdown chart below to compare losses from any high point for UJB and ERY.
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Drawdown Indicators
| UJB | ERY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -40.14% | -99.99% | +59.85% |
Max Drawdown (1Y)Largest decline over 1 year | -5.01% | -59.79% | +54.78% |
Max Drawdown (3Y)Largest decline over 3 years | -9.47% | -67.94% | +58.47% |
Max Drawdown (5Y)Largest decline over 5 years | -30.14% | -94.04% | +63.90% |
Max Drawdown (10Y)Largest decline over 10 years | -40.14% | -99.66% | +59.52% |
Current DrawdownCurrent decline from peak | -0.57% | -99.99% | +99.42% |
Average DrawdownAverage peak-to-trough decline | -6.17% | -96.93% | +90.76% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.18% | 33.47% | -32.29% |
Volatility
UJB vs. ERY - Volatility Comparison
The current volatility for ProShares Ultra High Yield (UJB) is 2.29%, while Direxion Daily Energy Bear 2X Shares (ERY) has a volatility of 16.11%. This indicates that UJB experiences smaller price fluctuations and is considered to be less risky than ERY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| UJB | ERY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.29% | 16.11% | -13.82% |
Volatility (6M)Calculated over the trailing 6-month period | 5.76% | 32.64% | -26.88% |
Volatility (1Y)Calculated over the trailing 1-year period | 7.29% | 40.81% | -33.52% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.67% | 51.89% | -37.22% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.27% | 70.62% | -52.35% |
UJB vs. ERY - Expense Ratio Comparison
UJB has a 0.95% expense ratio, which is lower than ERY's 1.07% expense ratio.
Dividends
UJB vs. ERY - Dividend Comparison
UJB's dividend yield for the trailing twelve months is around 3.34%, less than ERY's 3.75% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ERY Direxion Daily Energy Bear 2X Shares | 3.75% | 3.48% | 4.13% | 4.14% | 0.32% | 0.00% | 0.43% | 1.50% | 0.56% | 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 ERY have a correlation of 0.11, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
ERY has higher volatility (16.11%) compared to UJB (2.29%). In terms of maximum drawdown, UJB dropped -40.14% vs ERY's -99.99%.
On 10-year performance, UJB leads with 6.36% vs -33.88% for ERY. On fees, UJB is cheaper at 0.95% per year. On volatility, UJB has been the lower-risk option at 2.29%. 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 6.36% return vs -33.88%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
UJB is cheaper with a 0.95% expense ratio, compared with 1.07% for ERY.
ERY has the higher dividend yield at 3.75%, compared with 3.34% for UJB.
UJB is categorized as Leveraged Bonds, while ERY is Leveraged Equities. UJB tracks Markit iBoxx $ Liquid High Yield Index, while ERY tracks Energy Select Sector Index (-300%). They also come from different issuers: ProShares and Direxion. Their fees differ too: 0.95% for UJB and 1.07% for ERY.
UJB currently has the higher Sharpe Ratio (1.16 vs -1.36), 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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