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Launched · SEC filings

ProShares Ultra MSCI EAFE

EFONYSE ArcaProSharesCThis 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.

$69.11−4.30 (−5.86%)

At close: Nov 5, 2026, 4:00 PM ET

C52/ 100

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

C52/100Rank 1 of 5in2x/3x Long Developed International
Intraday session: down, 76 prints from 73.41 to 69.11. Range 69.11 to 73.41. Use the arrow keys to read each point.70.0071.0072.0010 AM12 PM2 PM4 PM
Expense ratio
0.95%*
Fund size
$25M
1Y total return
+16.6%
Yield · Last 12 months
1.63%
Holdings
2
Avg volume · 30D
4.52K sh
52W range
low $56.39high $80.05
Launched
Filings
SEC EDGAR

*After a fee waiver that ends Sep 30, 2027. Without it: 1.28%.

The ETF.net EFO Grade

Based on 4 of 6 pillars

C

Score 52 out of 100

Category
2x/3x Long Developed International⁠
Rank
1 of 5
Six-pillar profile for EFO. Scores out of 100: Cost 36, Risk 57, Mission not scored, Tradability 75, Holdings not scored, Durability 68. Strongest: Tradability (75). Weakest: Cost (36). Based on 4 of 6 pillars.

Score 52 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.
    D36 out of 100
    Rank 3 of 5

  • Mission

    Whether the fund did what it promised, tested against its stated mandate.
    Not scored

  • Risk

    How the fund held up when markets fell: downside volatility, drawdowns and tail loss.
    B57 out of 100
    Rank 3 of 5

  • Tradability

    How easy the fund is to trade: daily volume, and how far its price strays from net asset value.
    A75 out of 100
    Rank 1 of 5

  • Holdings

    How concentrated the fund is, and how complete and current its disclosed holdings are.
    Not scored

  • Durability

    Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.
    B68 out of 100
    Rank 1 of 5

Our read on EFO

ETF.net Research

In short

CThe only ETF that targets 2x the daily move of the MSCI EAFE Index: one ticker for a magnified bet on developed markets outside the US and Canada. Running since 2009, with a daily reset that makes it a short-leash tool.

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

  • ProShares calls EFO the only ETF targeting 2x the daily return of the MSCI EAFE Index, which covers large and mid caps across 21 developed markets outside the US and Canada.proshares.commsci.com
  • 0.95% net of a waiver through September 30, 2027, versus 1.28% gross. Near the category median, and level with ProShares' Europe-only UPV (same 0.95% net, same waiver date).
  • Broad by peer standards: the other 2x choices here are narrower slices, Europe equities (UPV, XEUR), Taiwan (XTAI) or the euro itself (ULE).
  • Trading since 2009 under the same daily-reset mechanics, and one of the stronger implementations in a thin peer group.

Worth knowing

  • The 2x target applies to one day. Hold longer and compounding takes over, so results over weeks or months can differ from 2x the index, especially in choppy markets.proshares.com
  • A small fund that trades lightly, so spreads and order size matter more here than with mainstream international funds.
  • If the waiver lapses after September 30, 2027, the fee reverts toward the 1.28% gross figure.

EFO Holdings

Asset class
Stocks
Holdings
2
Top-10 weight
100%
Largest holding
IQMM56.0%

Geography

  • United States100.00%
The fund’s holdings, weight-ordered — page 1 of 1.
#TickerCompanyWeight %SharesMarket valueHeld by ETFs
1IQMMProshares Genius Mny Mkt Etf56.01%150,000$15M61
2No dataNet Other Assets (Liabilities)43.99%11,791,922$11.8M150

Showing 1–2 of 2 holdings

EFO Performance

Launched Jun 2, 2009

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

EFO$11,659
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$10,934
Nov 5, 2025 to Nov 5, 2026. EFO $11,659. SPY $10,934. Use the arrow keys to read each point.$10,000$11,000$12,000$13,000Nov 2025May 2026Nov 2026

Nov 5, 2025 – Nov 5, 2026

Returns run to the Nov 5, 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+9.4%
1 month−3.3%
3 months−10.5%
1 year+16.6%
3 yearsper year+26.1%
5 yearsper year+6.2%
10 yearsper year+10.4%

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+9.4%
2025+58.5%
2024−2.2%
2023+25.8%

EFO in the news

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 Nov 5, 2026.
1.63%Last 12 months
Payout per share
$1.13Last 12 months
Last payment
$0.28 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. 20 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; Sep 23, 2026 $0.28. Use the arrow keys to read each point.2017201820192020202120222023202420252026YTD
Ex-datePay dateAmount per share
Sep 23, 2026Sep 29, 2026$0.28
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

See all 24 payments⁠

$10,000 in EFO 10 years ago paid $1,341 in dividends.⁠

EFO Risk

Risk pillarB57 out of 100Rank 3 of 5 in 2x/3x Long Developed International

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.
23.8%
Annualised · 36 months to Oct 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.
1.05
vs 3-month T-bills · to Oct 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.

FMP measures it over up to five years of monthly returns.

EFO Cost

Compare EFO and XEUR

Overpaying vs XEUR, tied cheapest in 2x/3x Long Developed International

$8,828

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

  • EFO 0.95%

    $17,869

  • XEUR 0.45% Tied cheapest

    $9,041

$10,000
30 years

Cost over time

  • EFO 0.95%
  • XEUR 0.45%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$5K$10K$15K$20K051015202530EFO $17,869XEUR $9,041

Year by year

YearEFOXEUROverpaying
10$1,678$812$866
20$6,322$3,128$3,194
30$17,869$9,041$8,828
How the 0.95% is worked out

Full fee 1.28%− waiver 0.33%= you pay 0.95%

The waiver ends Sep 30, 2027. After that the fee is 1.28% unless ProShares renews it. Source: prospectus, Sep 2026.

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