ZSL vs. EART
ZSL (ProShares UltraShort Silver) and EART (Global X Rare Earth & Critical Materials ETF) are both exchange-traded funds - ZSL is a Silver fund tracking the Bloomberg Silver Subindex (-2x), while EART is a Rare Earth & Strategic Metals fund tracking the Solactive Rare Earth & Critical Materials Index. Both are passively managed. Over the past 3 years, ZSL returned -67.63%/yr vs 19.97%/yr for EART. At a correlation of -0.55, they often move in opposite directions. ZSL charges 1.32%/yr vs 0.59%/yr for EART.
Performance
ZSL vs. EART - Performance Comparison
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Returns By Period
In the year-to-date period, ZSL achieves a -46.07% return, which is significantly lower than EART's 8.19% return.
ZSL
- 1D
- 11.07%
- 1M
- 43.00%
- YTD
- -46.07%
- 6M
- -49.83%
- 1Y
- -88.73%
- 3Y*
- -67.63%
- 5Y*
- -50.28%
- 10Y*
- -41.09%
EART
- 1D
- -5.19%
- 1M
- -5.99%
- YTD
- 8.19%
- 6M
- 8.04%
- 1Y
- 90.35%
- 3Y*
- 19.97%
- 5Y*
- —
- 10Y*
- —
ZSL vs. EART - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
ZSL ProShares UltraShort Silver | -46.07% | -87.29% | -42.43% | -5.49% | -23.05% |
EART Global X Rare Earth & Critical Materials ETF | 8.19% | 98.48% | -7.19% | -19.75% | -17.92% |
Correlation
The correlation between ZSL and EART is -0.68, 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 | -0.68 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.58 |
Correlation (All Time) Calculated using the full available price history since Jan 26, 2022 | -0.55 |
The correlation between ZSL and EART shifts across timeframes, from -0.68 (1 year) to -0.55 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
ZSL vs. EART — Risk / Return Rank
ZSL
EART
ZSL vs. EART - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares UltraShort Silver (ZSL) and Global X Rare Earth & Critical Materials ETF (EART). 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.
| ZSL | EART | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -3.03 | ||
| Sortino ratioReturn per unit of downside risk | -4.46 | ||
| Omega ratioGain probability vs. loss probability | 0.80 | 1.35 | -0.55 |
| Calmar ratioReturn relative to maximum drawdown | -0.94 | 3.49 | -4.43 |
| Martin ratioReturn relative to average drawdown | -1.27 | 10.10 | -11.37 |
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Drawdowns
ZSL vs. EART - Drawdown Comparison
The maximum ZSL drawdown since its inception was -100.00%, which is greater than EART's maximum drawdown of -53.68%. Use the drawdown chart below to compare losses from any high point for ZSL and EART.
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Drawdown Indicators
| ZSL | EART | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -100.00% | -53.68% | -46.32% |
Max Drawdown (1Y)Largest decline over 1 year | -94.11% | -26.03% | -68.08% |
Max Drawdown (3Y)Largest decline over 3 years | -98.40% | -37.20% | -61.20% |
Max Drawdown (5Y)Largest decline over 5 years | -99.06% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -99.82% | — | — |
Current DrawdownCurrent decline from peak | -99.99% | -18.05% | -81.94% |
Average DrawdownAverage peak-to-trough decline | -96.38% | -28.98% | -67.40% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 69.79% | 8.98% | +60.81% |
Volatility
ZSL vs. EART - Volatility Comparison
ProShares UltraShort Silver (ZSL) has a higher volatility of 28.23% compared to Global X Rare Earth & Critical Materials ETF (EART) at 13.28%. This indicates that ZSL's price experiences larger fluctuations and is considered to be riskier than EART based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ZSL | EART | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 28.23% | 13.28% | +14.95% |
Volatility (6M)Calculated over the trailing 6-month period | 107.93% | 33.46% | +74.47% |
Volatility (1Y)Calculated over the trailing 1-year period | 122.46% | 39.51% | +82.95% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 75.00% | 34.26% | +40.74% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 65.73% | 34.26% | +31.47% |
ZSL vs. EART - Expense Ratio Comparison
ZSL has a 1.32% expense ratio, which is higher than EART's 0.59% expense ratio.
Dividends
ZSL vs. EART - Dividend Comparison
ZSL has not paid dividends to shareholders, while EART's dividend yield for the trailing twelve months is around 0.60%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
EART Global X Rare Earth & Critical Materials ETF | 0.60% | 0.65% | 1.06% | 1.83% | 2.04% |
ZSL ProShares UltraShort Silver | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
ZSL and EART have a correlation of -0.68, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
ZSL has higher volatility (28.23%) compared to EART (13.28%). In terms of maximum drawdown, ZSL dropped -100.00% vs EART's -53.68%.
On 3-year performance, EART leads with 19.97% vs -67.63% for ZSL. On fees, EART is cheaper at 0.59% per year. On volatility, EART has been the lower-risk option at 13.28%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, EART has performed better with a 19.97% return vs -67.63%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
EART is cheaper with a 0.59% expense ratio, compared with 1.32% for ZSL.
EART has the higher dividend yield at 0.60%, compared with 0.00% for ZSL.
ZSL is categorized as Silver, while EART is Rare Earth & Strategic Metals. ZSL tracks Bloomberg Silver Subindex (-2x), while EART tracks Solactive Rare Earth & Critical Materials Index. They also come from different issuers: ProShares and Global X. Their fees differ too: 1.32% for ZSL and 0.59% for EART.
EART currently has the higher Sharpe Ratio (2.30 vs -0.73), 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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