WTID vs. EFZ

Last updated Jun 25, 2026

WTID (MicroSectors Energy -3X Inverse Leveraged ETN) and EFZ (ProShares Short MSCI EAFE) are both Inverse Equities funds - WTID tracks the Solactive MicroSectors Energy Index - Benchmark TR Gross (--300%) while EFZ tracks the MSCI EAFE Index (-100%). Both are passively managed. Over the past 3 years, WTID returned -45.26%/yr vs -10.23%/yr for EFZ. At a 0.17 correlation, their price movements are largely independent. Both charge a 0.95% expense ratio.

Performance

WTID vs. EFZ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in MicroSectors Energy -3X Inverse Leveraged ETN (WTID) and ProShares Short MSCI EAFE (EFZ). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, WTID achieves a -51.19% return, which is significantly lower than EFZ's -7.69% return.

WTID

• 1D: 5.01%
• 1M: 26.91%
• YTD: -51.19%
• 6M: -52.60%
• 1Y: -61.21%
• 3Y*: -45.26%
• 5Y*: —
• 10Y*: —

EFZ

• 1D: -0.76%
• 1M: -0.79%
• YTD: -7.69%
• 6M: -7.43%
• 1Y: -14.45%
• 3Y*: -10.23%
• 5Y*: -5.64%
• 10Y*: -8.90%

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

WTID vs. EFZ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
WTID MicroSectors Energy -3X Inverse Leveraged ETN	-51.19%	-44.50%	-7.93%	-16.93%
EFZ ProShares Short MSCI EAFE	-7.69%	-20.92%	2.90%	-2.90%

Correlation

The correlation between WTID and EFZ is -0.11, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.11
Correlation (3Y) Calculated over the trailing 3-year period	0.11
Correlation (All Time) Calculated using the full available price history since Feb 15, 2023	0.17

The correlation between WTID and EFZ shifts across timeframes, from -0.11 (1 year) to 0.17 (all time), reflecting how their relationship changes across market environments.

Return for Risk

WTID vs. EFZ — Risk / Return Rank

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

WTID

WTID Risk / Return Rank: 2
WTID Sharpe Ratio Rank: 2
WTID Sortino Ratio Rank: 2
WTID Omega Ratio Rank: 2
WTID Calmar Ratio Rank: 2
WTID Martin Ratio Rank: 2

EFZ

EFZ Risk / Return Rank: 2
EFZ Sharpe Ratio Rank: 3
EFZ Sortino Ratio Rank: 3
EFZ Omega Ratio Rank: 3
EFZ Calmar Ratio Rank: 2
EFZ Martin Ratio Rank: 2

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.

WTID vs. EFZ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for MicroSectors Energy -3X Inverse Leveraged ETN (WTID) and ProShares Short MSCI EAFE (EFZ). 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.

	WTID	EFZ	Difference
Sharpe ratio: Return per unit of total volatility	-0.91	-0.87	-0.05
Sortino ratio: Return per unit of downside risk	-1.51	-1.17	-0.34
Omega ratio: Gain probability vs. loss probability	0.84	0.87	-0.02
Calmar ratio: Return relative to maximum drawdown	-0.82	-0.85	+0.03
Martin ratio: Return relative to average drawdown	-1.39	-1.43	+0.04

WTID vs. EFZ - Sharpe Ratio Comparison

The current WTID Sharpe Ratio is -0.91, which is comparable to the EFZ Sharpe Ratio of -0.87. The chart below compares the historical Sharpe Ratios of WTID and EFZ, 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

WTID vs. EFZ - Drawdown Comparison

The maximum WTID drawdown since its inception was -90.35%, roughly equal to the maximum EFZ drawdown of -88.08%. Use the drawdown chart below to compare losses from any high point for WTID and EFZ.

Drawdown Indicators

	WTID	EFZ	Difference
Max Drawdown Largest peak-to-trough decline	-90.35%	-88.08%	-2.27%
Max Drawdown (1Y) Largest decline over 1 year	-74.87%	-17.09%	-57.78%
Max Drawdown (3Y) Largest decline over 3 years	-88.44%	-35.42%	-53.02%
Max Drawdown (5Y) Largest decline over 5 years	—	-43.77%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-61.88%	—
Current Drawdown Current decline from peak	-85.62%	-87.91%	+2.29%
Average Drawdown Average peak-to-trough decline	-54.92%	-67.13%	+12.21%
Ulcer Index Depth and duration of drawdowns from previous peaks	44.18%	10.13%	+34.05%

Volatility

WTID vs. EFZ - Volatility Comparison

MicroSectors Energy -3X Inverse Leveraged ETN (WTID) has a higher volatility of 22.23% compared to ProShares Short MSCI EAFE (EFZ) at 5.44%. This indicates that WTID's price experiences larger fluctuations and is considered to be riskier than EFZ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	WTID	EFZ	Difference
Volatility (1M) Calculated over the trailing 1-month period	22.23%	5.44%	+16.79%
Volatility (6M) Calculated over the trailing 6-month period	54.62%	14.13%	+40.49%
Volatility (1Y) Calculated over the trailing 1-year period	67.44%	16.83%	+50.61%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	70.50%	16.83%	+53.67%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	70.50%	17.16%	+53.34%

WTID vs. EFZ - Expense Ratio Comparison

Both WTID and EFZ have an expense ratio of 0.95%.

Dividends

WTID vs. EFZ - Dividend Comparison

WTID has not paid dividends to shareholders, while EFZ's dividend yield for the trailing twelve months is around 4.07%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
EFZ ProShares Short MSCI EAFE	4.07%	4.55%	5.29%	4.66%	0.57%	0.00%	0.04%	1.56%	0.34%
WTID MicroSectors Energy -3X Inverse Leveraged ETN	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both WTID and EFZ in my portfolio?

WTID and EFZ 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.

Which is riskier, WTID or EFZ?

WTID has higher volatility (22.23%) compared to EFZ (5.44%). In terms of maximum drawdown, WTID dropped -90.35% vs EFZ's -88.08%.

Which ETF is better, WTID or EFZ?

On 3-year performance, EFZ leads with -10.23% vs -45.26% for WTID. Both ETFs have the same 0.95% expense ratio. On volatility, EFZ has been the lower-risk option at 5.44%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, WTID or EFZ?

Over the 3-year period, EFZ has performed better with a -10.23% return vs -45.26%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, WTID or EFZ?

WTID and EFZ have the same expense ratio: 0.95% per year.

Which ETF pays a higher dividend yield, WTID or EFZ?

EFZ has the higher dividend yield at 4.07%, compared with 0.00% for WTID.

What is the main difference between WTID and EFZ?

WTID tracks Solactive MicroSectors Energy Index - Benchmark TR Gross (--300%), while EFZ tracks MSCI EAFE Index (-100%). They also come from different issuers: REX and ProShares.

Which has better risk-adjusted returns?

EFZ currently has the higher Sharpe Ratio (-0.87 vs -0.91), 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.