USD vs. EZJ
USD (ProShares Ultra Semiconductors) and EZJ (ProShares Ultra MSCI Japan) are both exchange-traded funds - USD is a Leveraged Equities fund tracking the Dow Jones U.S. Semiconductors Index (200%), while EZJ is a Japan Equities fund tracking the MSCI Japan Index (200%). Both are passively managed. Over the past 10 years, USD returned 60.36%/yr vs 10.96%/yr for EZJ. At a 0.49 correlation, their price movements are largely independent. Both charge a 0.95% expense ratio.
Performance
USD vs. EZJ - Performance Comparison
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Returns By Period
In the year-to-date period, USD achieves a 87.20% return, which is significantly higher than EZJ's 26.67% return. Over the past 10 years, USD has outperformed EZJ with an annualized return of 60.36%, while EZJ has yielded a comparatively lower 10.96% annualized return.
USD
- 1D
- 5.92%
- 1M
- -3.85%
- YTD
- 87.20%
- 6M
- 82.98%
- 1Y
- 168.18%
- 3Y*
- 110.86%
- 5Y*
- 61.50%
- 10Y*
- 60.36%
EZJ
- 1D
- 0.62%
- 1M
- 0.37%
- YTD
- 26.67%
- 6M
- 25.65%
- 1Y
- 49.98%
- 3Y*
- 25.04%
- 5Y*
- 8.32%
- 10Y*
- 10.96%
USD vs. EZJ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
USD ProShares Ultra Semiconductors | 87.20% | 62.08% | 139.64% | 228.79% | -68.57% | 104.27% | 68.16% | 110.37% | -26.88% | 81.72% |
EZJ ProShares Ultra MSCI Japan | 26.67% | 42.72% | 3.31% | 30.78% | -38.23% | -1.96% | 22.21% | 33.76% | -30.99% | 49.10% |
Correlation
The correlation between USD and EZJ is 0.49, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.49 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.48 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.53 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.49 |
Correlation (All Time) Calculated using the full available price history since Jun 5, 2009 | 0.49 |
The correlation between USD and EZJ has been stable across timeframes, ranging from 0.48 to 0.53 - a consistent structural relationship.
USD vs. EZJ - Sectors Allocation Comparison
Sectors
USD
EZJ
Financial Services
Technology
Energy
Basic Materials
-
Communication Services
-
Consumer Cyclical
-
Consumer Defensive
-
Healthcare
-
Industrials
-
Real Estate
-
Utilities
-
Financial Services
USD
EZJ
Technology
USD
EZJ
Energy
USD
EZJ
Basic Materials
USD
-
EZJ
Communication Services
USD
-
EZJ
Consumer Cyclical
USD
-
EZJ
Consumer Defensive
USD
-
EZJ
Healthcare
USD
-
EZJ
Industrials
USD
-
EZJ
Real Estate
USD
-
EZJ
Utilities
USD
-
EZJ
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Return for Risk
USD vs. EZJ — Risk / Return Rank
USD
EZJ
USD vs. EZJ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares Ultra Semiconductors (USD) 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.
| USD | EZJ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.27 | ||
| Sortino ratioReturn per unit of downside risk | +0.86 | ||
| Omega ratioGain probability vs. loss probability | 1.35 | 1.23 | +0.12 |
| Calmar ratioReturn relative to maximum drawdown | 5.32 | 1.88 | +3.45 |
| Martin ratioReturn relative to average drawdown | 14.57 | 5.64 | +8.93 |
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Drawdowns
USD vs. EZJ - Drawdown Comparison
The maximum USD drawdown since its inception was -88.63%, which is greater than EZJ's maximum drawdown of -58.63%. Use the drawdown chart below to compare losses from any high point for USD and EZJ.
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Drawdown Indicators
| USD | EZJ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -88.63% | -58.63% | -30.00% |
Max Drawdown (1Y)Largest decline over 1 year | -31.80% | -26.78% | -5.02% |
Max Drawdown (3Y)Largest decline over 3 years | -64.46% | -31.48% | -32.98% |
Max Drawdown (5Y)Largest decline over 5 years | -77.85% | -58.63% | -19.22% |
Max Drawdown (10Y)Largest decline over 10 years | -77.85% | -58.63% | -19.22% |
Current DrawdownCurrent decline from peak | -13.52% | -8.15% | -5.37% |
Average DrawdownAverage peak-to-trough decline | -32.28% | -21.23% | -11.05% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 11.59% | 8.93% | +2.66% |
Volatility
USD vs. EZJ - Volatility Comparison
ProShares Ultra Semiconductors (USD) has a higher volatility of 35.28% compared to ProShares Ultra MSCI Japan (EZJ) at 16.35%. This indicates that USD's price experiences larger fluctuations and is considered to be riskier 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
| USD | EZJ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 35.28% | 16.35% | +18.93% |
Volatility (6M)Calculated over the trailing 6-month period | 54.78% | 34.11% | +20.67% |
Volatility (1Y)Calculated over the trailing 1-year period | 68.54% | 41.91% | +26.63% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 77.83% | 37.14% | +40.69% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 69.85% | 34.67% | +35.18% |
USD vs. EZJ - Expense Ratio Comparison
Both USD and EZJ have an expense ratio of 0.95%.
Dividends
USD vs. EZJ - Dividend Comparison
USD's dividend yield for the trailing twelve months is around 0.31%, less than EZJ's 1.88% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EZJ ProShares Ultra MSCI Japan | 1.88% | 1.13% | 2.09% | 1.11% | 0.56% | 0.00% | 0.00% | 0.24% | 4.49% | 0.00% | 0.00% | 0.00% |
USD ProShares Ultra Semiconductors | 0.31% | 0.39% | 0.10% | 0.05% | 0.30% | 0.00% | 0.14% | 0.72% | 0.93% | 0.32% | 0.46% | 0.39% |
Frequently Asked Questions
USD and EZJ have a correlation of 0.49, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
USD has higher volatility (35.28%) compared to EZJ (16.35%). In terms of maximum drawdown, USD dropped -88.63% vs EZJ's -58.63%.
On 10-year performance, USD leads with 60.36% vs 10.96% for EZJ. Both ETFs have the same 0.95% expense ratio. On volatility, EZJ has been the lower-risk option at 16.35%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, USD has performed better with a 60.36% return vs 10.96%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
USD and EZJ have the same expense ratio: 0.95% per year.
EZJ has the higher dividend yield at 1.88%, compared with 0.31% for USD.
USD is categorized as Leveraged Equities, while EZJ is Japan Equities. USD tracks Dow Jones U.S. Semiconductors Index (200%), while EZJ tracks MSCI Japan Index (200%).
USD currently has the higher Sharpe Ratio (2.47 vs 1.20), 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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