EDZ vs EUM
Direxion Daily MSCI Emerging Markets Bear 3X ETF vs ProShares Short MSCI Emerging Markets
Which is better, EDZ or EUM?
Nearly the same fund. EUM costs less.
EUM has a lower expense ratio. EUM led over 1Y, 3Y, 5Y and the full window. The two have moved almost in lockstep, correlation 0.99.
MarketXLS is not an investment adviser. This comparison is generated automatically from market data and is for information only. A Best mark means the better reading on that one measure, not a recommendation to buy.
Side-by-Side Comparison
| Metric | EDZ | EUM |
|---|---|---|
| Expense Ratio | 1.61% | 0.95%Best |
| AUM | $23M | $14M |
| Dividend Yield | 5.89% | 3.65% |
| Holdings | 10 | 6 |
| YTD Return | -48.96% | -14.66%Best |
| 1Y Return | -58.60% | -19.74%Best |
| 3Y Return (annualized) | -48.75% | -16.04%Best |
| 5Y Return (annualized) | -26.59% | -5.59%Best |
| Volatility (annualized) | 53.6% | 18.7%Best |
| Max Drawdown | - | -90.9% |
| $10,000 over 5 years | $2,132 | $7,500Best |
| Fund Family | Direxion Shares ETF Trust | ProShares |
| Category | Alternative | Alternative |
| Style | Trading-Inverse Equity | Trading-Inverse Equity |
| Inception | Dec 17, 2008 | Oct 30, 2007 |
Not shown on this pair: Top 10 Weight.
Volatility and max drawdown are measured over the window both funds cover: Dec 17, 2008 to Oct 14, 2026 (17.8 years).
EDZ vs EUM growth
Month-end closes. Both lines start at 0% in the first month shown, so the gap between them is the difference in growth across that window. The full view covers the 17.8 years both funds cover.
EDZ vs EUM Performance
Direxion Daily MSCI Emerging Markets Bear 3X ETF (EDZ) is an ETF from Direxion Shares ETF Trust and ProShares Short MSCI Emerging Markets (EUM) is an ETF from ProShares. Over the past year EDZ returned -58.60% while EUM returned -19.74%. Year to date, EDZ is down 48.96% versus a loss of 14.66% for EUM.
Over three years, EDZ compounded at -48.75% per year against -16.04% for EUM; over five years the annualized figures are -26.59% and -5.59% respectively. Across the full 18-year window we track, EUM has the edge at -11.61% annualized vs -39.75%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
EDZ has been the more volatile fund, with annualized monthly volatility of 53.6% compared with 18.7% for EUM. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The two funds' monthly returns correlate at 0.99. They move almost in lockstep, so holding both mostly duplicates the same exposure.
Fees and Cost Over Time
EDZ charges 1.61% per year while EUM charges 0.95%. On a $10,000 position that is $161 vs $95 annually, a gap of $66 per year that compounds over a long holding period. On income, EDZ currently yields 5.89% against 3.65% for EUM.
Holdings Overlap
We hold position weights for 2 holdings in EDZ and 1 in EUM, totalling 140.6% and 85.8% of the two funds. The two books name no position in common, so there is no overlap percentage to show.
0 positions in common, counted across the 2 positions we hold weights for in EDZ and 1 in EUM, against full books of 10 and 6.
You are not choosing between two funds in isolation.
Whichever of EDZ and EUM you pick has to sit alongside everything else you own. Add the rest and see what the combination actually holds.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, EDZ or EUM?
EDZ has an expense ratio of 1.61% while EUM charges 0.95%. EUM is the cheaper option, by $66 a year on a $10,000 investment.
Which performed better, EDZ or EUM?
Over the past year EDZ returned -58.60% vs -19.74% for EUM, so EUM leads on 1-year performance. Over the longest common window we track (18 years), EDZ annualized -39.75% vs -11.61% for EUM. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, EDZ or EUM?
EDZ has been the more volatile fund at 53.6% annualized versus 18.7% for EUM.
Should I hold both EDZ and EUM?
EDZ and EUM have a monthly-return correlation of 0.99, so they move almost identically. What is left to separate them is the fee and the index each one tracks. This is information, not a recommendation.
Which pays a higher dividend, EDZ or EUM?
EDZ yields 5.89% while EUM yields 3.65%, so EDZ currently pays the higher dividend yield.
Is EUM better than EDZ?
EUM has a lower expense ratio. EUM led over 1Y, 3Y, 5Y and the full window. The two have moved almost in lockstep, correlation 0.99. Which one suits a particular account depends on what it is for. This is information, not a recommendation.