UST vs. MSOX

Last updated Jun 14, 2026

UST (ProShares Ultra 7-10 Year Treasury) and MSOX (Advisorshares Msos 2x Daily ETF) are both exchange-traded funds - UST is a Leveraged Bonds fund tracking the Barclays Capital U.S. 7-10 Year Treasury Index (200%), while MSOX is a Leveraged Equities fund actively managed by AdvisorShares. UST is passively managed, while MSOX is actively managed. Over the past 3 years, UST returned 0.27%/yr vs -61.73%/yr for MSOX. At a 0.02 correlation, their price movements are largely independent. Both charge a 0.95% expense ratio.

Performance

UST vs. MSOX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares Ultra 7-10 Year Treasury (UST) and Advisorshares Msos 2x Daily ETF (MSOX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, UST achieves a -2.66% return, which is significantly higher than MSOX's -23.66% return.

UST

• 1D: -0.42%
• 1M: 1.78%
• YTD: -2.66%
• 6M: -2.37%
• 1Y: 3.24%
• 3Y*: 0.27%
• 5Y*: -6.96%
• 10Y*: -2.25%

MSOX

• 1D: -7.32%
• 1M: 24.82%
• YTD: -23.66%
• 6M: -56.93%
• 1Y: 45.53%
• 3Y*: -61.73%
• 5Y*: —
• 10Y*: —

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

UST vs. MSOX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
UST ProShares Ultra 7-10 Year Treasury	-2.66%	10.26%	-6.19%	0.16%	-11.65%
MSOX Advisorshares Msos 2x Daily ETF	-23.66%	-51.20%	-87.32%	-39.26%	-76.29%

Correlation

The correlation between UST and MSOX is 0.04, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.04
Correlation (3Y) Calculated over the trailing 3-year period	0.03
Correlation (All Time) Calculated using the full available price history since Aug 24, 2022	0.02

Return for Risk

UST vs. MSOX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

UST

UST Risk / Return Rank: 13
UST Sharpe Ratio Rank: 14
UST Sortino Ratio Rank: 13
UST Omega Ratio Rank: 12
UST Calmar Ratio Rank: 13
UST Martin Ratio Rank: 13

MSOX

MSOX Risk / Return Rank: 25
MSOX Sharpe Ratio Rank: 12
MSOX Sortino Ratio Rank: 46
MSOX Omega Ratio Rank: 41
MSOX Calmar Ratio Rank: 15
MSOX Martin Ratio Rank: 13

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.

UST vs. MSOX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares Ultra 7-10 Year Treasury (UST) and Advisorshares Msos 2x Daily ETF (MSOX). 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.

	UST	MSOX	Difference
Sharpe ratio: Return per unit of total volatility	0.27	0.17	+0.10
Sortino ratio: Return per unit of downside risk	0.45	2.05	-1.60
Omega ratio: Gain probability vs. loss probability	1.05	1.24	-0.19
Calmar ratio: Return relative to maximum drawdown	0.28	0.43	-0.15
Martin ratio: Return relative to average drawdown	0.77	0.65	+0.12

UST vs. MSOX - Sharpe Ratio Comparison

The current UST Sharpe Ratio is 0.27, which is higher than the MSOX Sharpe Ratio of 0.17. The chart below compares the historical Sharpe Ratios of UST and MSOX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

UST vs. MSOX - Drawdown Comparison

The maximum UST drawdown since its inception was -47.99%, smaller than the maximum MSOX drawdown of -99.75%. Use the drawdown chart below to compare losses from any high point for UST and MSOX.

Drawdown Indicators

	UST	MSOX	Difference
Max Drawdown Largest peak-to-trough decline	-47.99%	-99.75%	+51.76%
Max Drawdown (1Y) Largest decline over 1 year	-8.75%	-84.89%	+76.14%
Max Drawdown (3Y) Largest decline over 3 years	-16.66%	-98.83%	+82.17%
Max Drawdown (5Y) Largest decline over 5 years	-43.97%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-47.99%	—	—
Current Drawdown Current decline from peak	-38.19%	-99.50%	+61.31%
Average Drawdown Average peak-to-trough decline	-15.16%	-88.83%	+73.67%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.22%	56.03%	-52.81%

Volatility

UST vs. MSOX - Volatility Comparison

The current volatility for ProShares Ultra 7-10 Year Treasury (UST) is 3.25%, while Advisorshares Msos 2x Daily ETF (MSOX) has a volatility of 46.66%. This indicates that UST experiences smaller price fluctuations and is considered to be less risky than MSOX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	UST	MSOX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.25%	46.66%	-43.41%
Volatility (6M) Calculated over the trailing 6-month period	6.75%	155.67%	-148.92%
Volatility (1Y) Calculated over the trailing 1-year period	9.35%	220.30%	-210.95%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.47%	168.37%	-152.90%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.18%	168.37%	-155.19%

UST vs. MSOX - Expense Ratio Comparison

Both UST and MSOX have an expense ratio of 0.95%.

Dividends

UST vs. MSOX - Dividend Comparison

UST's dividend yield for the trailing twelve months is around 3.48%, while MSOX has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
MSOX Advisorshares Msos 2x Daily ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
UST ProShares Ultra 7-10 Year Treasury	3.48%	3.65%	4.09%	3.49%	0.47%	0.27%	0.53%	1.42%	1.71%	0.84%	0.64%	0.75%

Frequently Asked Questions

Can I hold both UST and MSOX in my portfolio?

UST and MSOX have a correlation of 0.04, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, UST or MSOX?

MSOX has higher volatility (46.66%) compared to UST (3.25%). In terms of maximum drawdown, UST dropped -47.99% vs MSOX's -99.75%.

Which ETF is better, UST or MSOX?

On 3-year performance, UST leads with 0.27% vs -61.73% for MSOX. Both ETFs have the same 0.95% expense ratio. On volatility, UST has been the lower-risk option at 3.25%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, UST or MSOX?

Over the 3-year period, UST has performed better with a 0.27% return vs -61.73%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, UST or MSOX?

UST and MSOX have the same expense ratio: 0.95% per year.

Which ETF pays a higher dividend yield, UST or MSOX?

UST has the higher dividend yield at 3.48%, compared with 0.00% for MSOX.

What is the main difference between UST and MSOX?

UST is categorized as Leveraged Bonds, while MSOX is Leveraged Equities. They also come from different issuers: ProShares and AdvisorShares.

Which has better risk-adjusted returns?

UST currently has the higher Sharpe Ratio (0.27 vs 0.17), 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.