ProShares - Ultra MSCI EAFE
CThis 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.
$70.67+0.54 (+0.77%)
- 1.87%
- $25M
- +23.0%
- 1.61%
- 0M sh
- $70.11
- low $56.39high $80.05
The ETF.net EFO Grade
C
Score 49 out of 100
- 1 of 5
Score 49 of 100 falls in the C band. A is 70 or higher, B 55 to under 70, C 40 to under 55, D 25 to under 40, F under 25.
Cost
The fund’s net expense ratio, ranked against its category.D29 out of 100Rank 4 of 5Mission
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.B60 out of 100Rank 3 of 5Tradability
How easy the fund is to trade: daily volume, and how far its price strays from net asset value.A75 out of 100Rank 1 of 5Holdings
How concentrated the fund is, and how complete and current its disclosed holdings are.Durability
Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.B67 out of 100Rank 1 of 5
Our read on EFO
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.
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
- Unusual 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.
- Live since 2009, which is a long run for a daily-reset product and covers several very different market regimes.
- 2x, not 3x: the milder rung of the leverage ladder next to triple-levered cohort names like FAS and UDOW.
- Rules-based exposure to a published index inside a 1940 Act fund, not a manager's discretionary bet on foreign markets.
Worth knowing
- The 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.
- The 2x target resets every day. Over any longer stretch, results follow the path the index took, not 2x its total move.
- A small fund that trades lightly, so spreads can run wider than the household-name leveraged ETFs and orders need more care.
EFO Holdings
- Stocks
- 2
- 100%
- IQMM
Sectors
- Financials100.0%
Geography
- United States100.00%
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$12,298
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 | EFO |
|---|---|
| Year to date | +11.1% |
| 1 month | −7.3% |
| 3 months | −3.9% |
| 1 year | +23.0% |
| 3 years | +27.1% |
| 5 years | +8.6% |
| 10 years | +10.1% |
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 | EFO |
|---|---|---|
| 2026 YTD | +11.1% | |
| 2025 | +58.5% | |
| 2024 | −2.2% | |
| 2023 | +25.8% | |
| 2022 | −33.6% | |
| 2021 | +19.4% | |
| 2020 | +2.3% |
EFO in the news
EFO Dividends
- 1.61%
- $1.13
- $0.28 per share
- Quarterly
Distribution history
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.
- 24.3%
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.
- 0.96
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.
- −53.3%
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.
- 1.27
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
1.87%
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