ULE vs. OKLL

Last updated Apr 1, 2026

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

ULE and OKLL are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. 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. OKLL is an actively managed fund by Defiance. It was launched on Jun 23, 2025.

Performance

ULE vs. OKLL - Performance Comparison

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

ULE vs. OKLL - Yearly Performance Comparison

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

Returns By Period

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

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%

OKLL

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

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

ULE vs. OKLL - Expense Ratio Comparison

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

OKLL

Defiance Daily Target 2x Long OKLO ETF

ULE

ProShares Ultra Euro

Return for Risk

ULE vs. OKLL — 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.

ULE vs. OKLL - Risk-Adjusted Trends Comparison

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

	ULE	OKLL	Difference
Sharpe ratio Return per unit of total volatility	0.69	—	—
Sortino ratio Return per unit of downside risk	1.17	—	—
Omega ratio Gain probability vs. loss probability	1.14	—	—
Calmar ratio Return relative to maximum drawdown	1.13	—	—
Martin ratio Return relative to average drawdown	2.74	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	ULE	OKLL	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	-0.21	-0.41	+0.20

Correlation

The correlation between ULE and OKLL 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

ULE vs. OKLL - Dividend Comparison

Neither ULE nor OKLL has paid dividends to shareholders.

Tickers have no history of dividend payments

Drawdowns

ULE vs. OKLL - Drawdown Comparison

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

Drawdown Indicators

	ULE	OKLL	Difference
Max Drawdown Largest peak-to-trough decline	-72.74%	-96.29%	+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	-62.27%	-95.64%	+33.37%
Average Drawdown Average peak-to-trough decline	-45.90%	-53.44%	+7.54%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.28%	—	—

Volatility

Volatility by Period

	ULE	OKLL	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	17.10%	202.40%	-185.30%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.21%	202.40%	-186.19%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.31%	202.40%	-187.09%