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EFO

GradeCNew York Stock Exchange Arca

ProShares - Ultra MSCI EAFE

Leveraged · Leveraged & Inverse · ProShares · Inception 2009-06-02 · SEC filings

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.

$73.57−1.96 (−2.60%)

As of Sep 23, 2026, 1:16 PM EDT

Intraday session: down, 7 prints from 75.53 to 73.57. Range 72.05 to 73.71. Use the arrow keys to read each point.$72.00$72.50$73.0010 AM12 PM2 PM4 PM
Expense ratio
1.87%
Fund size
$28M
1Y return
+28.1%
Yield · Last 12 months
1.56%
Holdings
8
Volume · 30D
0M sh
NAV per share
$73.36
52W range
low $56.39high $80.05

The ETF.net EFO Grade

C

47/ 100

Rank 1 of 5 in 2x/3x Long Developed International⁠

Confidence Low

Six-pillar profile for EFO. Scores out of 100: Cost 29, Risk 58, Mission not scored, Tradability 70, Holdings not scored, Durability 68. Strongest: Tradability (70). Weakest: Cost (29). Based on 4 of 6 pillars.
F< 25
D≥ 25
C≥ 40
B≥ 55
A≥ 70

Score 47 of 100 sits in the C band. Bands: A ≥ 70, B ≥ 55, C ≥ 40, D ≥ 25, F < 25; the scale skips E.

  • Cost

    What you pay to own it — the expense ratio plus trading frictions, ranked within its category.
    DScore 29
    Category rank4/5 · bottom quartile

  • Mission

    How faithfully it does the job it claims — tracking its mandate or index with minimal slippage.
    Not scored
    —

  • Risk

    How violently it can move — volatility, drawdown depth, and downside capture versus its category.
    BScore 58
    Category rank3/5 · mid-pack

  • Tradability

    How cheaply and easily you can get in and out — liquidity, spread, and premium/discount stability.
    AScore 70
    Category rank1/5 · top 20%

  • Holdings

    What it actually owns — the quality, breadth, and concentration of the underlying portfolio.
    Not scored
    —

  • Durability

    Whether it will still be here — the fund’s assets, age, flows, and issuer staying power.
    BScore 68
    Category rank1/5 · top 20%

Graded as of Sep 22, 2026 · Based on 4 of 6 pillars

Our read on EFO

ETF.net Research

CLeveraged ETFs are mostly a US-index game. EFO is one of the rare ones pointed overseas: two times the daily move of the MSCI EAFE developed-markets index, a job it has been doing since 2009.

Stated mandate

EFO seeks daily investment results, before fees and expenses, corresponding to two times the daily performance of the MSCI EAFE Index.

Why people hold it

  1. 01Unusual mandate: 2x the daily move of the MSCI EAFE index, so developed markets outside the US, while most geared equity funds aim at the Nasdaq, the Dow or US sectors.
  2. 02Live since 2009, which is a long run for a daily-reset product and covers several very different market regimes.
  3. 032x, not 3x: the milder rung of the leverage ladder next to triple-levered cohort names like FAS and UDOW.
  4. 04Rules-based exposure to a published index inside a 1940 Act fund, not a manager's discretionary bet on foreign markets.

Worth knowing

  1. 01The 1.87% expense ratio sits near the top of the leveraged shelf, well above what large US-index geared funds such as QLD and UDOW charge.
  2. 02The 2x target resets every day. Over any longer stretch, results follow the path the index took, not 2x its total move.
  3. 03A small fund that trades lightly, so spreads can run wider than the household-name leveraged ETFs and orders need more care.

EFO Holdings

As of Sep 20, 2026, 6:50 AM
Asset class
Stocks
Holdings
8
Top-10 weight
100%
Largest holding
IQMM54.6%

Sectors

  • Financials100.0%

Geography

  • United States100.00%
The fund’s holdings, weight-ordered — page 1 of 1.
#TickerCompanyWeight %SharesMarket valueIn ETFs
001IQMMPROSHARES GENIUS MNY MKT ETF54.58%150,000$15M61
002—Net Other Assets (Liabilities)45.42%12,493,359$12M162

Showing 1–2 of 2 holdings

EFO Performance

Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.

EFO$12,806
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$11,723
Sep 22, 2025 to Sep 22, 2026. EFO $12,806. SPY $11,723. Use the arrow keys to read each point.$9,218$11,489$13,759Sep 2025Mar 2026Sep 2026

Sep 22, 2025 – Sep 22, 2026

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.

Trailing total return for EFO. Periods over one year show the average yearly return.
PeriodEFO
Year to date+19.0%
1 month−3.8%
3 months+1.9%
1 year+28.1%
3 years+28.7%per year
5 years+8.8%per year
10 years+10.1%per year

As of the close, with distributions reinvested.

Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.

Annual total returns for EFO
YearReturn barEFO
2026 YTD+19.0%
2025+58.5%
2024−2.2%
2023+25.8%
2022−33.6%
2021+19.4%
2020+2.3%

EFO in the news

ETF.net Research hasn’t filed on EFO yet — coverage lands here as it’s written.

EFO Dividends

Adds up every distribution paid per share over the last 12 months, divided by the last completed close. Distributions are counted by ex-date. Data through Sep 22, 2026.
1.56%Last 12 months
Payout per share
$1.18Last 12 months
Last payment
$0.29 per share
Paid on
Shares bought on or after this date do not qualify for this distribution.
Frequency
Quarterly

Distribution history

2017–2026

One bar per payment. 19 payments from 2017 to 2026 YTD. Dec 26, 2018 $0.03; Mar 20, 2019 $0.03; Jun 25, 2019 $0.06; Sep 25, 2019 $0.05; Dec 24, 2019 $0.0074; Mar 22, 2023 $0.09; Jun 21, 2023 $0.26; Sep 20, 2023 $0.23; Dec 20, 2023 $0.25; Mar 20, 2024 $0.16; Jun 26, 2024 $0.23; Sep 25, 2024 $0.25; Dec 23, 2024 $0.28; Mar 26, 2025 $0.14; Jun 25, 2025 $0.22; Sep 24, 2025 $0.34; Dec 24, 2025 $0.37; Mar 25, 2026 $0.18; Jun 24, 2026 $0.29. Use the arrow keys to read each point.2017201820192020202120222023202420252026YTD
Ex-datePay dateAmount per share
Jun 24, 2026Jun 30, 2026$0.29
Mar 25, 2026Mar 31, 2026$0.18
Dec 24, 2025Dec 31, 2025$0.37
Sep 24, 2025Sep 30, 2025$0.34
Jun 25, 2025Jul 1, 2025$0.22
Mar 26, 2025Apr 1, 2025$0.14
Dec 23, 2024Dec 31, 2024$0.28
Sep 25, 2024Oct 2, 2024$0.25
Jun 26, 2024Jul 3, 2024$0.23
Mar 20, 2024Mar 27, 2024$0.16
Dec 20, 2023Dec 28, 2023$0.25
Sep 20, 2023Sep 27, 2023$0.23

EFO 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.

How much the fund’s monthly returns vary, scaled to a year.
24.3%
Annualised · 36 months to Aug 2026
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.

Return above 3-month US Treasury bills per unit of volatility.
0.95
vs 3-month T-bills · to Aug 2026
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.

The largest fall from a peak to the low that followed.
−53.3%
Trough Sep 2022
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.

How strongly the fund’s returns move with its asset-class index.
1.27
vs its asset-class index
How it’s calculated: beta

The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.

EFO Cost

Expense Ratio
1.87%