ProShares - UltraShort MSCI Brazil Capped
This fund multiplies its index's move each day and resets that multiple daily. Because daily returns compound, its long-run return can differ from the headline multiple.
$18.82+0.69 (+3.78%)
- Expense ratio
- 1.99%
- Fund size
- $3M
- 1Y return
- −47.0%
- Yield · Last 12 months
- 8.95%
- Holdings
- 9
- Volume · 30D
- 0M sh
- NAV per share
- $19.18
- 52W range
The ETF.net BZQ Grade
Score 30 of 100 sits in the D band. Bands: A ≥ 70, B ≥ 55, C ≥ 40, D ≥ 25, F < 25; the scale skips E. A structural cap ceilings this fund at 40, so B and A are out of reach.
The pillars earned30This cap took−0Published score30
Cost
What you pay to own it — the expense ratio plus trading frictions, ranked within its category.DScore 34Category rankMission
How faithfully it does the job it claims — tracking its mandate or index with minimal slippage.Not scoredRisk
How violently it can move — volatility, drawdown depth, and downside capture versus its category.DScore 29Category rankTradability
How cheaply and easily you can get in and out — liquidity, spread, and premium/discount stability.FScore 21Category rankHoldings
What it actually owns — the quality, breadth, and concentration of the underlying portfolio.Not scoredDurability
Whether it will still be here — the fund’s assets, age, flows, and issuer staying power.DScore 39Category rank
Our read on BZQ
DThe one-ticker way to lean against Brazil: BZQ aims for two times the inverse of the MSCI Brazil 25/50 Index's move each trading day. A short-horizon trading tool with a daily reset, not a set-and-forget short.
BZQ seeks daily results corresponding to two times the inverse performance of the MSCI Brazil 25/50 Index, before fees and expenses.
Why people hold it
- Targets two times the inverse of the MSCI Brazil 25/50 Index's daily move in one ticker, with no margin account or borrowed shares needed.proshares.com
- Trading since 2009, through several Brazil boom and bust cycles, from a firm built around leveraged and inverse funds.
- It is a fund share, not an outright short, so the most at stake is the amount invested.proshares.com
Worth knowing
- The 2x inverse target resets every day. Over longer holds, compounding pulls results away from twice the index's inverse return, especially in choppy markets.proshares.com
- At 1.99% a year, the fee sits well above the typical leveraged or inverse fund's.
- A small, thinly traded fund concentrated in one emerging market, so spreads can run wider than at the big inverse names.
BZQ Holdings
- Stocks
- 9
- 100%
- Net Other Assets (Liabilities)
BZQ Performance
Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.
BZQ$5,304
Returns run to the Sep 22, 2026 close, with cash distributions reinvested. Each period starts on the same date that many months or years earlier. Periods over one year show the average yearly return.
| Period | BZQ |
|---|---|
| Year to date | −38.3% |
| 1 month | −16.7% |
| 3 months | −21.2% |
| 1 year | −47.0% |
| 3 years | −27.7% |
| 5 years | −30.2% |
| 10 years | −34.7% |
Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.
| Year | Return bar | BZQ |
|---|---|---|
| 2026 YTD | −38.3% | |
| 2025 | −57.9% | |
| 2024 | +98.8% | |
| 2023 | −49.1% | |
| 2022 | −44.2% | |
| 2021 | +6.5% | |
| 2020 | −52.9% |
BZQ in the news
BZQ Dividends
- 8.95%
- $1.65
- $0.32 per share
- Quarterly
Distribution history
| Ex-date | Pay date | Amount per share |
|---|---|---|
| Jun 24, 2026 | Jun 30, 2026 | $0.32 |
| Mar 25, 2026 | Mar 31, 2026 | $0.25 |
| Dec 24, 2025 | Dec 31, 2025 | $0.59 |
| Sep 24, 2025 | Sep 30, 2025 | $0.49 |
| Jun 25, 2025 | Jul 1, 2025 | $0.35 |
| Mar 26, 2025 | Apr 1, 2025 | $0.40 |
| Dec 23, 2024 | Dec 31, 2024 | $0.95 |
| Sep 25, 2024 | Oct 2, 2024 | $0.85 |
| Jun 26, 2024 | Jul 3, 2024 | $0.40 |
| Mar 20, 2024 | Mar 27, 2024 | $0.30 |
| Dec 20, 2023 | Dec 28, 2023 | $0.50 |
| Sep 20, 2023 | Sep 27, 2023 | $0.45 |
BZQ Risk
This fund targets a multiple of the daily move of its index and resets daily. Hold it longer than one reset and compounding makes the return diverge from that target. In choppy markets it can lose value even when the index ends flat.
- 44.0%
How it’s calculated: standard deviation
The sample standard deviation of monthly total returns, multiplied by the square root of 12.
Uses up to 36 complete months, with at least 12 required. Total returns include reinvested distributions.
- −0.54
How it’s calculated: Sharpe ratio
Subtract each month’s Treasury-bill return from the fund’s monthly total return.
Divide the average of those excess returns by their sample standard deviation, then multiply by the square root of 12.
Uses up to 36 complete months, with at least 12 required. Each month uses the Treasury yield quoted at the end of the previous month.
- −88.7%
How it’s calculated: maximum drawdown
The largest percentage decline from an earlier peak, using total returns with reinvested distributions.
Uses up to five years through the last close, with at least 12 months required.
- −0.58
How it’s calculated: beta
The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.
BZQ Cost
1.99%
BZQ1.99%
- The middle half of Leveraged Inverse (2x & Other) funds
- Median 1.44%
34 of the 53 Leveraged Inverse (2x & Other) funds charge less.