WTIU vs. EWV

Last updated Jul 18, 2026

WTIU (MicroSectors Energy 3X Leveraged ETN) and EWV (ProShares UltraShort MSCI Japan) are both exchange-traded funds - WTIU is a Leveraged Equities fund tracking the Solactive MicroSectors Energy Index - Benchmark TR Gross (--300%), while EWV is a Japan Equities fund tracking the MSCI Japan Index (-200%). Both are passively managed. Over the past 3 years, WTIU returned 3.04%/yr vs -26.05%/yr for EWV. At a correlation of -0.11, they often move in opposite directions. Both charge a 0.95% expense ratio.

Performance

WTIU vs. EWV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in MicroSectors Energy 3X Leveraged ETN (WTIU) and ProShares UltraShort MSCI Japan (EWV). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, WTIU achieves a 83.64% return, which is significantly higher than EWV's -24.57% return.

WTIU

• 1D: 5.65%
• 1M: 24.32%
• 6M: 64.27%
• YTD: 83.64%
• 1Y: 75.42%
• 3Y*: 3.04%
• 5Y*: —
• 10Y*: —

EWV

• 1D: 3.17%
• 1M: 8.17%
• 6M: -15.80%
• YTD: -24.57%
• 1Y: -43.19%
• 3Y*: -26.05%
• 5Y*: -17.62%
• 10Y*: -19.47%

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

WTIU vs. EWV - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
WTIU MicroSectors Energy 3X Leveraged ETN	83.64%	-17.13%	-29.63%	-28.45%
EWV ProShares UltraShort MSCI Japan	-24.57%	-37.70%	-11.06%	-19.32%

Correlation

The correlation between WTIU and EWV is 0.14, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.14
Correlation (3Y) Calculated over the trailing 3-year period	-0.06
Correlation (All Time) Calculated using the full available price history since Feb 15, 2023	-0.11

The correlation between WTIU and EWV shifts across timeframes, from -0.11 (all time) to 0.14 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

WTIU vs. EWV — Risk / Return Rank

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

WTIU

WTIU Risk / Return Rank: 37
WTIU Sharpe Ratio Rank: 37
WTIU Sortino Ratio Rank: 39
WTIU Omega Ratio Rank: 37
WTIU Calmar Ratio Rank: 38
WTIU Martin Ratio Rank: 32

EWV

EWV Risk / Return Rank: 2
EWV Sharpe Ratio Rank: 2
EWV Sortino Ratio Rank: 2
EWV Omega Ratio Rank: 2
EWV Calmar Ratio Rank: 2
EWV 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.

WTIU vs. EWV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for MicroSectors Energy 3X Leveraged ETN (WTIU) and ProShares UltraShort MSCI Japan (EWV). 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.

	WTIU	EWV	Difference
Sharpe ratio: Return per unit of total volatility	1.09	-1.02	+2.11
Sortino ratio: Return per unit of downside risk	1.66	-1.49	+3.15
Omega ratio: Gain probability vs. loss probability	1.20	0.82	+0.38
Calmar ratio: Return relative to maximum drawdown	1.58	-0.85	+2.43
Martin ratio: Return relative to average drawdown	3.67	-1.31	+4.98

WTIU vs. EWV - Sharpe Ratio Comparison

The current WTIU Sharpe Ratio is 1.09, which is higher than the EWV Sharpe Ratio of -1.02. The chart below compares the historical Sharpe Ratios of WTIU and EWV, 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

WTIU vs. EWV - Drawdown Comparison

The maximum WTIU drawdown since its inception was -75.73%, smaller than the maximum EWV drawdown of -99.20%. Use the drawdown chart below to compare losses from any high point for WTIU and EWV.

Drawdown Indicators

	WTIU	EWV	Difference
Max Drawdown Largest peak-to-trough decline	-75.73%	-99.20%	+23.47%
Max Drawdown (1Y) Largest decline over 1 year	-48.11%	-50.96%	+2.85%
Max Drawdown (3Y) Largest decline over 3 years	-75.73%	-71.19%	-4.54%
Max Drawdown (5Y) Largest decline over 5 years	—	-79.51%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-89.91%	—
Current Drawdown Current decline from peak	-34.90%	-99.09%	+64.19%
Average Drawdown Average peak-to-trough decline	-39.31%	-84.35%	+45.04%
Ulcer Index Depth and duration of drawdowns from previous peaks	20.61%	33.00%	-12.39%

Volatility

WTIU vs. EWV - Volatility Comparison

MicroSectors Energy 3X Leveraged ETN (WTIU) has a higher volatility of 21.17% compared to ProShares UltraShort MSCI Japan (EWV) at 14.52%. This indicates that WTIU's price experiences larger fluctuations and is considered to be riskier than EWV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	WTIU	EWV	Difference
Volatility (1M) Calculated over the trailing 1-month period	21.17%	14.52%	+6.65%
Volatility (6M) Calculated over the trailing 6-month period	57.05%	35.08%	+21.97%
Volatility (1Y) Calculated over the trailing 1-year period	69.40%	42.62%	+26.78%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	70.90%	37.27%	+33.63%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	70.90%	35.17%	+35.73%

WTIU vs. EWV - Expense Ratio Comparison

Both WTIU and EWV have an expense ratio of 0.95%.

Dividends

WTIU vs. EWV - Dividend Comparison

WTIU has not paid dividends to shareholders, while EWV's dividend yield for the trailing twelve months is around 4.80%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
EWV ProShares UltraShort MSCI Japan	4.80%	3.63%	3.39%	3.42%	0.65%	0.00%	0.00%	0.33%	0.00%
WTIU MicroSectors Energy 3X 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 WTIU and EWV in my portfolio?

WTIU and EWV have a correlation of 0.14, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, WTIU or EWV?

WTIU has higher volatility (21.17%) compared to EWV (14.52%). In terms of maximum drawdown, WTIU dropped -75.73% vs EWV's -99.20%.

Which ETF is better, WTIU or EWV?

On 3-year performance, WTIU leads with 3.04% vs -26.05% for EWV. Both ETFs have the same 0.95% expense ratio. On volatility, EWV has been the lower-risk option at 14.52%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, WTIU or EWV?

Over the 3-year period, WTIU has performed better with a 3.04% return vs -26.05%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, WTIU or EWV?

WTIU and EWV have the same expense ratio: 0.95% per year.

Which ETF pays a higher dividend yield, WTIU or EWV?

EWV has the higher dividend yield at 4.80%, compared with 0.00% for WTIU.

What is the main difference between WTIU and EWV?

WTIU is categorized as Leveraged Equities, while EWV is Japan Equities. WTIU tracks Solactive MicroSectors Energy Index - Benchmark TR Gross (--300%), while EWV tracks MSCI Japan Index (-200%). They also come from different issuers: REX and ProShares.

Which has better risk-adjusted returns?

WTIU currently has the higher Sharpe Ratio (1.09 vs -1.02), 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.