EDZ vs EUM: which held to its multiple?
Over three months against its own daily promise, EDZ finished 3.0 points over and EUM 1.4 points over. Direxion Daily MSCI Emerging Markets Bear 3X ETF and ProShares Short MSCI Emerging Markets.
EDZ returned −6.7% while −3 times EEM's move would have been −1.4%
EUM returned −0.5% while −1 times EEM's move would have been −0.5%
A percentile among the 125 inverse ETFs over three months. It is a position in a set, not a rating, and neither end of it is a recommendation. All leveraged ETFs ranked by it → How it is computed →
Performance, window by window
| Total return | Multiple would give | Difference | ||||
|---|---|---|---|---|---|---|
| Window | EDZ | EUM | EDZ | EUM | EDZ | EUM |
| 1 month | −0.4% | +0.5% | +1.0% | +0.3% | −1.4 pts | +0.1 pts |
| 3 months | −6.7% | −0.5% | −1.4% | −0.5% | −5.3 pts | 0.0 pts |
| 6 months | −48.5% | −16.0% | −51.9% | −17.3% | +3.4 pts | +1.3 pts |
| 1 year | −62.3% | −22.3% | −82.5% | −27.5% | +20.3 pts | +5.2 pts |
| 3 years | −88.0% | −42.5% | −267.2% | −89.1% | +179.2 pts | +46.6 pts |
| Since launch EDZ Jan 2010 · EUM Jan 2010 | −99.8% | −75.3% | not meaningful | not meaningful | not meaningful | not meaningful |
EDZ and EUM over each window. Every figure is an ETFIQ calculation with distributions reinvested. Source: ETFIQ. Open the live comparison on ETFIQ →
On the same fields
EDZ and EUM on the same fields, as of Sep 30, 2026. Source: ETFIQ.
EDZ in plain words
Three months to Sep 30, 2026: EDZ returned −6.7% where its own daily promise gave −9.8%, 3.0 points over. Read the multiple against the whole window instead and −3 times EEM's 0.5% implies −1.4%, which makes EDZ look 5.3 points short. 8.3 of that is daily compounding, which happens to any −3 times fund over the same path, and the rest is the fund. EDZ aims to return -3 times EEM's move each day, then resets. Over one day it does that. Over longer, the daily results compound, so the total is not -3 times the period's move: in a market that falls and comes back it is reliably less, and in a steady run it can be more. EEM moved at 24% annualized over that window. That is what decides how far the two figures separate: the same fund on a calm underlying and a violent one is a different product.
EUM in plain words
Three months to Sep 30, 2026: EUM returned −0.5% where its own daily promise gave −1.9%, 1.4 points over. Read the multiple against the whole window instead and −1 times EEM's 0.5% implies −0.5%, which makes EUM look 0.0 points over. 1.4 of that is daily compounding, which happens to any −1 times fund over the same path, and the rest is the fund. EUM aims to return -1 times EEM's move each day, then resets. Over longer, the daily results compound, so the total is not -1 times the period's move: in a market that falls and comes back it is reliably less, and in a steady run it can be more.
Questions people ask
- Which came closer to its stated multiple, EDZ or EUM?
- Over the window to Sep 30, 2026, EDZ finished 5.3 points from what its multiple implies and EUM finished 0.0 points from its own, so EUM came closer. Neither figure predicts the next window: it depends on how much the underlying moves about.
- Are EDZ and EUM levered on the same thing?
- Yes. Both are levered on emerging markets, EDZ at -3 times and EUM at -1 times the daily move.
- Which one decays faster, EDZ or EUM?
- Decay follows how much the underlying moves about. Over this window EDZ’s moved at 24% annualized and EUM’s at 24%, so EDZ has the rougher ride and, at the same multiple, loses more to compounding.
- Can I hold EDZ or EUM for a year?
- Both reset every day, so the multiple in the name applies to a single day and the daily results compound. Over a year the total is not the multiple times the year’s move, and in a market that falls and comes back it is reliably less. ETFIQ makes no recommendation either way.
ETFIQ links to the documents behind every figure. It is not affiliated with any issuer, and a link is not an endorsement. A comparison is not a recommendation.
ETFIQ, EDZ against EUM, data as of Sep 30, 2026. https://etfiq.com/compare/leverage/edz-vs-eum
Free to use with attribution. Every figure is calculated from a named public source; the method is at etfiq.com/methodology.
Cite this page. ETFIQ, EDZ against EUM, data as of Sep 30, 2026. https://etfiq.com/compare/leverage/edz-vs-eum Free to use with attribution; the underlying files are at Open data.
Other forms
- Plain
- ETFIQ, EDZ against EUM, data as of Sep 30, 2026. https://etfiq.com/compare/leverage/edz-vs-eum
- APA
- ETFIQ. (Sep 30, 2026). EDZ against EUM. Retrieved from https://etfiq.com/compare/leverage/edz-vs-eum
- Markdown
- [EDZ against EUM (ETFIQ, Sep 30, 2026)](https://etfiq.com/compare/leverage/edz-vs-eum)