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 5.85%/yr vs -32.80%/yr for ERY. At a correlation of -0.25, 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 0.83% return, which is significantly higher than ERY's -41.80% return. Over the past 10 years, UJB has outperformed ERY with an annualized return of 5.85%, while ERY has yielded a comparatively lower -32.80% annualized return.
UJB
- 1D
- -0.46%
- 1M
- -0.38%
- 6M
- 0.04%
- YTD
- 0.83%
- 1Y
- 6.23%
- 3Y*
- 10.82%
- 5Y*
- 2.64%
- 10Y*
- 5.85%
ERY
- 1D
- -6.01%
- 1M
- 0.80%
- 6M
- -37.17%
- YTD
- -41.80%
- 1Y
- -43.31%
- 3Y*
- -25.34%
- 5Y*
- -39.12%
- 10Y*
- -32.80%
UJB vs. ERY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
UJB ProShares Ultra High Yield | 0.83% | 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 | -41.80% | -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 0.13, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.13 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.10 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.21 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.26 |
Correlation (All Time) Calculated using the full available price history since Apr 14, 2011 | -0.25 |
The correlation between UJB and ERY shifts across timeframes, from -0.26 (10 years) to 0.13 (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.
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 | ERY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.90 | ||
| Sortino ratioReturn per unit of downside risk | +2.90 | ||
| Omega ratioGain probability vs. loss probability | 1.16 | 0.83 | +0.33 |
| Calmar ratioReturn relative to maximum drawdown | 1.25 | -0.76 | +2.01 |
| Martin ratioReturn relative to average drawdown | 5.27 | -1.31 | +6.57 |
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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% | -56.88% | +51.87% |
Max Drawdown (3Y)Largest decline over 3 years | -9.47% | -65.95% | +56.48% |
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 | -0.93% | -99.99% | +99.06% |
Average DrawdownAverage peak-to-trough decline | -6.13% | -96.92% | +90.79% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.18% | 33.22% | -32.04% |
Volatility
UJB vs. ERY - Volatility Comparison
The current volatility for ProShares Ultra High Yield (UJB) is 1.59%, while Direxion Daily Energy Bear 2X Shares (ERY) has a volatility of 14.91%. 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 | 1.59% | 14.91% | -13.32% |
Volatility (6M)Calculated over the trailing 6-month period | 5.91% | 33.10% | -27.19% |
Volatility (1Y)Calculated over the trailing 1-year period | 7.28% | 42.01% | -34.73% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.68% | 51.77% | -37.09% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.69% | 70.41% | -52.72% |
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 3.20%, which matches ERY's 3.17% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ERY Direxion Daily Energy Bear 2X Shares | 3.17% | 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 | 3.20% | 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 0.13, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
ERY has higher volatility (14.91%) compared to UJB (1.59%). In terms of maximum drawdown, UJB dropped -40.14% vs ERY's -99.99%.
On 10-year performance, UJB leads with 5.85% vs -32.80% for ERY. On fees, UJB is cheaper at 0.95% per year. On volatility, UJB has been the lower-risk option at 1.59%. 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 5.85% return vs -32.80%. 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.
UJB has the higher dividend yield at 3.20%, compared with 3.17% for ERY.
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 (0.86 vs -1.04), 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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