{"url":"https://etfiq.com/compare/leverage/ewv-vs-ezj","section":"compare","title":"EWV vs EZJ: which held to its multiple? | ETFIQ","description":"EWV sets out to return -2 times EWJ each day and EZJ +2 times. Over the three months to Sep 30, 2026 they finished \u22120.7 pts and \u22122.6 pts away.","as_of":"Sep 30, 2026","structured_data":[{"@type":"FAQPage","mainEntity":[{"@type":"Question","name":"Which came closer to its stated multiple, EWV or EZJ?","acceptedAnswer":{"@type":"Answer","text":"Over the window to Sep 30, 2026, EWV finished 0.7 points from what its multiple implies and EZJ finished 2.6 points from its own, so EWV came closer. Neither figure predicts the next window: it depends on how much the underlying moves about."}},{"@type":"Question","name":"Are EWV and EZJ levered on the same thing?","acceptedAnswer":{"@type":"Answer","text":"Yes. Both are levered on Japan, EWV at -2 times and EZJ at +2 times the daily move."}},{"@type":"Question","name":"Which one decays faster, EWV or EZJ?","acceptedAnswer":{"@type":"Answer","text":"Decay follows how much the underlying moves about. Over this window EWV\u2019s moved at 21% annualized and EZJ\u2019s at 21%, so EWV has the rougher ride and, at the same multiple, loses more to compounding."}},{"@type":"Question","name":"Can I hold EWV or EZJ for a year?","acceptedAnswer":{"@type":"Answer","text":"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\u2019s move, and in a market that falls and comes back it is reliably less. ETFIQ makes no recommendation either way."}},{"@type":"Question","name":"Which is cheaper, EWV or EZJ?","acceptedAnswer":{"@type":"Answer","text":"EWV charges 0.95% a year and EZJ charges 1.18%, so EWV is cheaper. Fees come from each fund's prospectus."}}]},{"@type":"BreadcrumbList","itemListElement":[{"@type":"ListItem","position":1,"name":"ETFIQ","item":"https://etfiq.com/"},{"@type":"ListItem","position":2,"name":"Leveraged ETFs","item":"https://etfiq.com/leverage/"},{"@type":"ListItem","position":3,"name":"EWV vs EZJ","item":"https://etfiq.com/compare/leverage/ewv-vs-ezj"}]},{"@type":"WebPage","name":"EWV vs EZJ: which held to its multiple?","description":"EWV sets out to return -2 times EWJ each day and EZJ +2 times. Over the three months to Sep 30, 2026 they finished \u22120.7 pts and \u22122.6 pts away.","url":"https://etfiq.com/compare/leverage/ewv-vs-ezj","dateModified":"2026-09-30","abstract":"Over three months against its own daily promise, EWV finished 1.6 points over and EZJ 1.7 points short.","publisher":{"@id":"https://etfiq.com/#org"},"isPartOf":{"@id":"https://etfiq.com/#website"},"speakable":{"@type":"SpeakableSpecification","cssSelector":[".verdict",".faq"]}},{"@type":"Dataset","name":"ETFIQ comparison of EWV and EZJ","description":"EWV sets out to return -2 times EWJ each day and EZJ +2 times. Over the three months to Sep 30, 2026 they finished \u22120.7 pts and \u22122.6 pts away.","dateModified":"2026-09-30","creator":{"@id":"https://etfiq.com/#org"},"isAccessibleForFree":true,"url":"https://etfiq.com/compare/leverage/ewv-vs-ezj","license":"https://etfiq.com/standards/","publisher":{"@id":"https://etfiq.com/#org"},"inLanguage":"en","creativeWorkStatus":"Published","distribution":[{"@type":"DataDownload","encodingFormat":"application/json","contentUrl":"https://etfiq.com/data/leverage.json"}],"variableMeasured":["Stated multiple","Underlying return","What the stated multiple implies","Fund total return","Difference against the label","Volatility of the underlying","Expense ratio"],"keywords":["exchange-traded funds","ETF","Leveraged ETFs","fund data","SEC filings"]}],"characters":6842,"truncated":true,"content":"ETFIQ / Leveraged ETFs / Head to head / EWV vs EZJ \n ETFIQ etfiq.com \u00b7 independent ETF data \n\n Data as of Sep 30, 2026 .\n\n EWV vs EZJ: which held to its multiple?\n\n Over three months against its own daily promise, EWV finished 1.6 points over and EZJ 1.7 points short.\n Copy this for sharing \n \n ProShares UltraShort MSCI Japan and ProShares Ultra MSCI Japan.\n\n Download as PDF \n\n \u221210.1% EWV returned, 3 months \n +6.9% EZJ returned, 3 months \n \u22120.7 pts EWV from its stated multiple \n \u22122.6 pts EZJ from its stated multiple \n\n ETFIQ Decay Resistance Score: EZJ scores higher\n Did it keep up with its ow","source":"ETFIQ, independent ETF data. Recomputed nightly from public filings and prices.","publisher":{"@id":"https://etfiq.com/#org","name":"ETFIQ","url":"https://etfiq.com"},"license":"https://etfiq.com/license/","citation":"ETFIQ, as of Sep 30, 2026. https://etfiq.com/compare/leverage/ewv-vs-ezj","a":{"ticker":"EWV","name":"ProShares UltraShort MSCI Japan","issuer":"ProShares","desk":"leverage","as_of":"2026-09-30","verdict":"Three months to Sep 30, 2026: EWV returned \u221210.1% where its own daily promise gave \u221211.7%, 1.6 points over.","url":"https://etfiq.com/funds/ewv","key_facts":[{"label":"What EWJ did","value":"+4.7%","as_of":"2026-09-30","source":null},{"label":"What \u22122 times a day gives","value":"\u221211.7%","as_of":"2026-09-30","source":null},{"label":"What the fund returned","value":"\u221210.1%","as_of":"2026-09-30","source":null},{"label":"The fund itself added","value":"+1.6 pts","as_of":"2026-09-30","source":null},{"label":"Net assets","value":"$4m","as_of":"2026-09-30","source":"issuer page, as of Sep 30, 2026"},{"label":"Expense ratio","value":"0.95%","as_of":"2026-09-30","source":"485BPOS XBRL, Sep 25, 2026"}]},"b":{"ticker":"EZJ","name":"ProShares Ultra MSCI Japan","issuer":"ProShares","desk":"leverage","as_of":"2026-09-30","verdict":"Three months to Sep 30, 2026: EZJ returned +6.9% where its own daily promise gave +8.6%, 1.7 points short.","url":"https://etfiq.com/funds/ezj","key_facts":[{"label":"What EWJ did","value":"+4.7%","as_of":"2026-09-30","source":null},{"label":"What 2 times a day gives","value":"+8.6%","as_of":"2026-09-30","source":null},{"label":"What the fund returned","value":"+6.9%","as_of":"2026-09-30","source":null},{"label":"The fund itself cost","value":"\u22121.7 pts","as_of":"2026-09-30","source":null},{"label":"Net assets","value":"$12m","as_of":"2026-09-30","source":"issuer page, as of Sep 30, 2026"},{"label":"Expense ratio","value":"1.18%","as_of":"2026-09-30","source":"485BPOS XBRL, Sep 25, 2026"}]},"overlap_pct":null,"overlap_note":"ETFIQ does not publish a holdings overlap for this pair. Either the funds are not compared on holdings, or one book is incomplete.","full_text_at":"https://etfiq.com/compare/leverage/ewv-vs-ezj"}