ProShares - Short 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.
$23.11−0.10 (−0.43%)
- 1.44%
- $11M
- −10.7%
- 3.67%
- 0M sh
- $23.22
- low $21.94high $27.28
The ETF.net EFZ Grade
C
Score 52 out of 100
- 26 of 54
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.C49 out of 100Rank 28 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.B65 out of 100Rank 12 of 53Tradability
How easy the fund is to trade: daily volume, and how far its price strays from net asset value.C47 out of 100Rank 30 of 54Holdings
How concentrated the fund is, and how complete and current its disclosed holdings are.C46 out of 100Rank 13 of 16Durability
Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.C53 out of 100Rank 20 of 54
Our read on EFZ
COne ticker pointed the other way on the MSCI EAFE Index: EFZ aims for the inverse (-1x) of its daily move. No leverage stacked on top, just the mirror image, reset each day, and it has been doing that since 2007.
EFZ seeks daily investment results corresponding to the inverse (-1x) of the daily performance of the MSCI EAFE Index, before fees and expenses.
Why people hold it
- Straight mirror, no gearing: the fund targets the inverse (-1x) of the MSCI EAFE Index's daily performance rather than a multiple of it.
- Far cheaper than its geared sibling: 1.44% a year against 7.29% for EFU, which shorts the same index at double the exposure.
- Trading since 2007, it has run through overseas booms and busts alike. That is unusual shelf life for an inverse product.
Worth knowing
- Daily reset: hold past one day and compounding can pull results away from -1x the index's move over that stretch, most of all in choppy markets.
- The 1.44% fee sits above the 1.21% median for bear funds, and it grinds on every day the position stays open.
- A small, thinly traded fund, so spreads and order size carry more weight here than in a headline ETF.
EFZ Holdings
- Stocks
- 2
- 100%
- IQMM
Geography
- United States100.00%
EFZ Performance
Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.
EFZ$8,932
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 | EFZ |
|---|---|
| Year to date | −6.2% |
| 1 month | +3.9% |
| 3 months | +2.0% |
| 1 year | −10.7% |
| 3 years | −11.2% |
| 5 years | −5.7% |
| 10 years | −8.0% |
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 | EFZ |
|---|---|---|
| 2026 YTD | −6.2% | |
| 2025 | −20.9% | |
| 2024 | +2.9% | |
| 2023 | −10.4% | |
| 2022 | +13.1% | |
| 2021 | −12.8% | |
| 2020 | −16.0% |
EFZ in the news
EFZ Dividends
- 3.67%
- $0.85
- $0.23 per share
- Quarterly
Distribution history
EFZ 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.
- 12.0%
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.
- −1.34
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.
- −45.6%
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.
- −0.62
How it’s calculated: beta
The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.
EFZ Cost
1.44%
EFZ1.44%
- The middle half of Leveraged Inverse (2x & Other) funds
- Median 1.44%
26 of the 53 Leveraged Inverse (2x & Other) funds charge less.
Other funds in Leveraged Inverse (2x & Other)
- CSVIX-1x Short VIX Futures ETFExpense ratio 1.47%1 year return +62.1%
- CDUSTDirexion Daily Gold Miners Index Bear 2X ETFExpense ratio 1.04%1 year return −63.3%
- CEUMProShares - Short MSCI Emerging MarketsExpense ratio 1.69%1 year return −23.5%
- CSKFProShares UltraShort FinancialsExpense ratio 1.58%1 year return −9.5%
- CEPVProShares UltraShort FTSE EuropeExpense ratio 1.36%1 year return −19.7%