EZJ vs SPY
ProShares Ultra MSCI Japan vs State Street SPDR S&P 500 ETF Trust
Quick Verdict
SPY has a lower expense ratio. EZJ delivered stronger 1-year returns. SPY offers more diversification with 505 holdings.
Side-by-Side Comparison
| Metric | EZJ | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 1.17% | 0.09% | |
| AUM | $14M | $821.1B | |
| Dividend Yield | 1.93% | 1.01% | |
| Holdings | 8 | 505 | |
| YTD Return | +25.89% | +12.22% | |
| 1Y Return | +36.56% | +20.83% | |
| 3Y Return (annualized) | +28.98% | +21.70% | |
| 5Y Return (annualized) | +8.94% | +12.98% | |
| Volatility (annualized) | 28.6% | 15.3% | |
| Max Drawdown | -59.7% | -56.5% | |
| Fund Family | ProShares | State Street Investment Management | |
| Category | Alternative | Equity | |
| Inception | Jun 2, 2009 | Jan 22, 1993 |
EZJ vs SPY Performance
ProShares Ultra MSCI Japan (EZJ) is a ETF from ProShares and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year EZJ returned +36.56% while SPY returned +20.83%. Year to date, EZJ is up 25.89% versus a gain of 12.22% for SPY.
Over three years, EZJ compounded at +28.98% per year against +21.70% for SPY; over five years the annualized figures are +8.94% and +12.98% respectively. Across the full 17-year window we track, SPY has the edge at +8.79% annualized vs +7.76%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
EZJ has been the more volatile fund, with annualized monthly volatility of 28.6% compared with 15.3% for SPY. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -59.7% for EZJ and -56.5% for SPY. Drawdown depth is worth weighing if you expect to sell during market stress rather than ride it out.
The two funds' monthly returns correlate at 0.69. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
EZJ charges 1.17% per year while SPY charges 0.09%. On a $10,000 position that is $117 vs $9 annually, a gap of $108 per year that compounds over a long holding period. On income, EZJ currently yields 1.93% against 1.01% for SPY.
Holdings Overlap
EZJ and SPY share 0 holdings out of 506 unique holdings combined, representing a 0.0% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, EZJ or SPY?
EZJ has an expense ratio of 1.17% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $108 per year of difference.
Which performed better, EZJ or SPY?
Over the past year EZJ returned +36.56% vs +20.83% for SPY, so EZJ leads on 1-year performance. Over the longest common window we track (17 years), EZJ annualized +7.76% vs +8.79% for SPY. Past performance does not guarantee future results.
Which is riskier, EZJ or SPY?
EZJ has been the more volatile fund at 28.6% annualized versus 15.3% for SPY. Worst drawdown: EZJ -59.7% vs SPY -56.5%.
Should I hold both EZJ and SPY?
EZJ and SPY have a monthly-return correlation of 0.69, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between EZJ and SPY?
EZJ and SPY share 0 common holdings with a 0.0% weight overlap. Combined, they hold 506 unique securities.
Which pays a higher dividend, EZJ or SPY?
EZJ yields 1.93% while SPY yields 1.01%, so EZJ currently pays the higher dividend yield.
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