ProShares - UltraShort MSCI Emerging Markets
DThis 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.
$10.94+0.14 (+1.30%)
- 2.69%
- $3M
- −46.8%
- 7.35%
- 0M sh
- $10.80
- low $9.98high $21.24
The ETF.net EEV Grade
D
Score 28 out of 100
- 43 of 54
Score 28 of 100 falls in the D band. A is 70 or higher, B 55 to under 70, C 40 to under 55, D 25 to under 40, F under 25.
Very small fund, grade capped at C.
The cap holds the Score at 40 or below, so B and A are out of reach.
- The pillars earned
- 29
- This cap took
- −0
- Published Score
- 28
Cost
The fund’s net expense ratio, ranked against its category.F24 out of 100Rank 41 of 54Mission
Whether the fund did what it promised, tested against its stated mandate.Risk
How the fund held up when markets fell: downside volatility, drawdowns and tail loss.D25 out of 100Rank 47 of 53Tradability
How easy the fund is to trade: daily volume, and how far its price strays from net asset value.D39 out of 100Rank 36 of 54Holdings
How concentrated the fund is, and how complete and current its disclosed holdings are.B56 out of 100Rank 6 of 16Durability
Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.C41 out of 100Rank 39 of 54
Our read on EEV
DA double-strength short on emerging markets. EEV aims for -2x the daily move of the MSCI Emerging Markets Index and resets every session, so it's built for day-scale calls, not long holds. Trading since 2007.
The fund seeks before-fee and expense results equal to negative two times the daily performance of the MSCI Emerging Markets Index.
Why people hold it
- Rare mechanism: -2x daily exposure to a broad emerging-market equity index. ProShares' own single-inverse EUM tracks the same benchmark at half the punch.
- Live since 2007, through multiple emerging-market cycles. That makes it one of the longer-running funds on the leveraged and inverse shelf.
- The contract is easy to check: one well-known benchmark, one stated daily multiple, spelled out in the fund's own documents.proshares.com
Worth knowing
- At 2.69% a year, it sits at the pricey end of the inverse shelf, above the typical bear fund and above ProShares' single-inverse take on the same index (EUM).
- Daily reset means returns compound. Hold longer than a day and results can drift from -2x the index's move over that stretch, especially in choppy markets.
- A small fund that trades thinly, so bid-ask spreads can run wider than at the big names in its category.
EEV Holdings
- Stocks
- 2
- 100%
- IQMM
Sectors
- Financials100.0%
Geography
- United States100.00%
EEV Performance
Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.
EEV$5,322
Returns run to the Oct 12, 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 | EEV |
|---|---|
| Year to date | −39.8% |
| 1 month | +4.5% |
| 3 months | −0.1% |
| 1 year | −46.8% |
| 3 years | −35.7% |
| 5 years | −18.5% |
| 10 years | −22.3% |
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 | EEV |
|---|---|---|
| 2026 YTD | −39.8% | |
| 2025 | −43.3% | |
| 2024 | −9.3% | |
| 2023 | −15.8% | |
| 2022 | +36.7% | |
| 2021 | −5.0% | |
| 2020 | −49.0% |
EEV in the news
EEV Dividends
- 7.35%
- $0.79
- $0.19 per share
- Quarterly
Distribution history
EEV 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.
- 28.7%
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.
- −1.55
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.
- −82.0%
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.
- −1.43
How it’s calculated: beta
The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.
EEV Cost
2.69%
EEV2.69%
- The middle half of Leveraged Inverse (2x & Other) funds
- Median 1.44%
39 of the 53 Leveraged Inverse (2x & Other) funds charge less.
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