EDZ vs SRTY: Grades, Fees and Holdings Compared

Direxion Daily MSCI Emerging Markets Bear 3X ETF

EDZDNYSE Arca

ProShares UltraPro Short Russell2000

SRTYANYSE Arca

Overlap

0.0%by weight

Expense ratio

SRTY −0.10pt a year

EDZ1.05%SRTY0.95%

Avg volume · 30D

SRTY 6.7×the volume

EDZ240KSRTY1.6M

10Y return · a year

EDZ +9.1pt

EDZ−33.4%SRTY−42.5%

EDZ vs SRTY Performance

Nov 9, 2021 – Nov 9, 2026

−76.7%EDZ−79.6%SRTY

Expense ratio: EDZ 1.05%; SRTY 0.95%, better
Fund size: EDZ $27M; SRTY $76M
1Y total return: EDZ −48.9%; SRTY −43.5%, better
Yield (12M): EDZ 4.69%; SRTY 6.17%, better
Holdings: EDZ 3; SRTY 6
Avg volume (30D): EDZ 240K sh; SRTY 1.6M sh, better
NAV per share: EDZ $20.05; SRTY $27.73
52W range

ETF.net Grade

Pillar letters and Scores for EDZ, SRTY, with each pillar’s weight
Pillar	EDZ	SRTY
Cost30% weight	F23	A84Higher
Mission25% weight	Not scored	A87
Risk15% weight	C49Higher	C47
Tradability15% weight	D39	B68Higher
Holdings10% weight	Not scored	Not scored
Durability5% weight	D39	C54Higher

Rank among 3x Leveraged Inverse funds

How we build Categories ›

Same Category. EDZ and SRTY are both graded against the same 14 3x Leveraged Inverse funds, so their Grades compare head to head.

3x Leveraged Inverse⁠

Category · 14 funds

See all 14 ›

SRTY ranks 3rd and EDZ 11th of 14 funds in the 3x Leveraged Inverse Category.

Rank 1ASQQQProShares UltraPro Short QQQScore 84
Rank 2ASDOWProShares UltraPro Short Dow30Score 80
Rank 3ASRTYProShares UltraPro Short Russell2000Score 69
Rank 4BTZADirexion Daily Small Cap Bear 3X ETFScore 60
Rank 10DDRVDirexion Daily Real Estate Bear 3X ETFScore 37
Rank 11DEDZDirexion Daily MSCI Emerging Markets Bear 3X ETFScore 34
Rank 12DHIBSDirexion Daily S&P 500 High Beta Bear 3X ETFScore 26

Our read on each fund

ETF.net Research

EDZDDirexion Daily MSCI Emerging Markets Bear 3X ETF

SRTYAProShares UltraPro Short Russell2000

In short

EDZ The bear 3X shelf is mostly US indexes. EDZ is the one pointed overseas: a single ticker seeking -300% of the MSCI Emerging Markets Index for one day, on the market since 2008. Built for short-term trading, with the daily reset that implies.

SRTY A one-day instrument by design: SRTY aims for three times the inverse of the Russell 2000's daily move, and it has been the ProShares small-cap bear since 2010.

Stated mandate

EDZ The fund seeks daily investment results, before fees and expenses, equal to 300% of the inverse performance of the MSCI Emerging Markets Index.

SRTY SRTY seeks daily investment results, before fees and expenses, equal to three times the inverse daily performance of the Russell 2000 Index.

Why people hold it

EDZ The only broad emerging markets fund in Direxion's bear 3X lineup: one ticker for -300% daily exposure to large and mid cap stocks across two dozen EM countries, while SQQQ, SDOW, SRTY and TZA all aim at US indexes.direxion.com msci.com
Priced near the category median: 1.05% net of a waiver through September 1, 2027, against a 1.47% gross ratio. SQQQ (0.94%) and TZA (0.99%) sit lower, neither leaning on a waiver.
Launched December 2008, one of the longest-running inverse emerging markets ETFs, and Direxion posts the holdings daily.direxion.com

SRTY 0.95% net of a waiver through September 30, 2027 (1.10% gross), which undercuts TZA at 0.99%, the only other 3x small-cap bear in the peer set, and sits below the category median.
The mechanism is plain: three times the inverse of the Russell 2000's daily performance, reset each day. That index covers roughly 2,000 of the smallest names in the Russell 3000.proshares.com fidelity.com
Listed since 2010 and actively traded, it rates as one of the stronger implementations in its bear-3x peer group.

Worth knowing

EDZ Leverage resets daily. Direxion states the fund should not be expected to deliver -300% of the index's cumulative return over periods longer than a day; compounding can push multi-day results off that mark.direxion.com
The 1.05% net rate depends on a waiver running to September 1, 2027. If it lapses, cost steps toward the 1.47% gross figure.
One of the smaller, less heavily traded names in the bear 3X group, so order size and spreads matter more here than with the big US-index shorts.

SRTY Daily reset means compounding. Hold past a single day and results can diverge widely from 3x the index's move over that stretch, especially through choppy markets.proshares.com
The fee steps toward the 1.10% gross rate if the waiver is not extended past September 30, 2027.
Small caps are the jumpier end of US equity, and a 3x inverse multiplies that daily swing in both directions.fidelity.com

Full EDZ profile⁠

Full SRTY profile⁠

EDZ vs SRTY Holdings

How EDZ and SRTY differ

Overlap by weight

0.0%

About this figure: EDZ gets much of its exposure from swaps and futures, which aren’t counted.

SRTY gets much of its exposure from swaps and futures, which aren’t counted.

Level by level

Sector12 Sectors0.0%
Holdings0 in both0.0%
Countryby domicile2.7%
Asset classStocks100%

Sector

Sector weights in EDZ and SRTY, widest gap first
Sector	Gap	EDZ	SRTY
Government	SRTY +100.0 points	0.0%	100.0%
Financials	EDZ +28.4 points	28.4%	0.0%
Industrials	EDZ +19.0 points	19.0%	0.0%
Technology	EDZ +15.3 points	15.3%	0.0%
Consumer Discretionary	EDZ +7.3 points	7.3%	0.0%
Utilities	EDZ +6.6 points	6.6%	0.0%
Consumer Staples	EDZ +6.1 points	6.1%	0.0%
Health Care	EDZ +5.4 points	5.4%	0.0%
Materials	EDZ +3.7 points	3.7%	0.0%
Communication	EDZ +3.5 points	3.5%	0.0%
Energy	EDZ +3.4 points	3.4%	0.0%
Real Estate	EDZ +1.3 points	1.3%	0.0%

Country, concentration and asset class

Country by domicile

Country weights in EDZ and SRTY, widest gap first
Country	Gap	EDZ	SRTY
United States	SRTY +97.3 points	2.7%	100.0%
France	EDZ +24.8 points	24.8%	0.0%
Germany	EDZ +24.1 points	24.1%	0.0%
Netherlands	EDZ +17.5 points	17.5%	0.0%
Spain	EDZ +11.5 points	11.5%	0.0%
Italy	EDZ +8.9 points	8.9%	0.0%
Finland	EDZ +3.0 points	3.0%	0.0%
Belgium	EDZ +2.5 points	2.5%	0.0%
Other countries (9)	EDZ +4.8 points	4.8%	0.0%

Outside the US: EDZ 100% developed, 0% emerging.

Concentration

Weight in the 10 largest Holdings

EDZ162.6%
SRTY104.3%

Securities held

EDZ0
SRTY6

Asset class

EDZ: Stocks
SRTY: Stocks

Holdings

Only in EDZ0
In both0
Only in SRTY6

Only in EDZ

0 securities, 0.0% of EDZ by weight

Only in SRTY

6 securities, 100% of SRTY by weight

Proshares Genius Mny Mkt Etf60.67%
TREASURY BILL, 0%, due 2026-12-2917.32%
TREASURY BILL, 0%, due 2026-11-1013.93%
United States of America Bill Zero Cpn 02/FEB/2027 USD 1006.90%
TREASURY BILL, 0%, due 2027-02-184.13%
TREASURY BILL, 0%, due 2027-01-191.38%

Weight gaps

EDZ and SRTY share no securities.

All 6 EDZ holdings⁠All 13 SRTY holdings⁠

How we measure overlap

Each holding counts at its smaller weight in the two funds, summed over the full Holdings. Sector, country and asset class use the same rule on each fund’s split. Cash, FX and derivative lines stay out of the counts. Two bond funds get no overlap figure.

EDZ vs SRTY Cost

Overpaying EDZ vs SRTY

$1,626

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

EDZ 1.05%
$19,495
SRTY 0.95%
$17,869

Amount$10,000

Years30 years

Cost over time

EDZ 1.05%
SRTY 0.95%
Overpaying

Year by year

Year	EDZ	SRTY	Overpaying
10	$1,847	$1,678	$169
20	$6,927	$6,322	$605
30	$19,495	$17,869	$1,626

Expense ratio

1.05%EDZ
0.95%SRTY, cheaper

SRTY0.95%EDZ1.05%

0.94%1.07%

Middle half of 3x Leveraged Inverse funds
Median 1.02%

SRTY 2nd cheapest of 14 funds

EDZ 10th cheapest of 14 funds

EDZ vs SRTY Dividends

Last 12 months to Nov 9, 2026

Yield (12M): EDZ 4.69%; SRTY 6.17%, better
Payout (12M): EDZ $0.86; SRTY $1.55
Last payment: EDZ $0.18; SRTY $0.27
Ex-dividend: EDZ Sep 22, 2026; SRTY Sep 23, 2026
Paid on: EDZ Sep 29, 2026; SRTY Sep 29, 2026
Frequency: EDZ Quarterly; SRTY Quarterly

Distribution history

Per share, 2018 to 2026, same scale for both

EDZQuarterly · 19 paymentsAll EDZ payments⁠

SRTYQuarterly · 10 paymentsAll SRTY payments⁠

EDZ vs SRTY Risk

Fall from peak · 5 years

EDZ
SRTY

Risk facts

VolatilityStd dev, 3 years: EDZ 45.8%, betterSRTY 54.0%
Return per unit of riskSharpe ratio, 3 years: EDZ −1.27SRTY −1.04, better
Worst fallMax drawdown, 5 years: EDZ −93.2%SRTY −92.8%, better
Market sensitivityBeta, 5 years: EDZ −2.23SRTY −3.27; Market = 1

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