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EFZ

GradeCNew York Stock Exchange Arca

ProShares - Short MSCI EAFE

Leveraged · Leveraged & Inverse · ProShares · Inception 2007-10-23 · 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.

$22.73+0.37 (+1.67%)

As of Sep 23, 2026, 2:19 PM EDT

Intraday session: up, 56 prints from 22.36 to 22.73. Range 22.63 to 22.81. Use the arrow keys to read each point.$22.65$22.70$22.8010 AM12 PM2 PM4 PM
Expense ratio
1.44%
Fund size
$10M
1Y return
−12.6%
Yield · Last 12 months
4.04%
Holdings
6
Volume · 30D
0M sh
NAV per share
$22.97
52W range
low $21.94high $27.28

The ETF.net EFZ Grade

C

52/ 100

Rank 26 of 54 in Leveraged Inverse (2x & Other)⁠

Confidence Medium

Six-pillar profile for EFZ. Scores out of 100: Cost 49, Risk 61, Mission not scored, Tradability 49, Holdings 47, Durability 53. Strongest: Risk (61). Weakest: Holdings (47). Based on 5 of 6 pillars.
F< 25
D≥ 25
C≥ 40
B≥ 55
A≥ 70

Score 52 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.
    CScore 49
    Category rank28/54 · mid-pack

  • 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 61
    Category rank16/53 · top 30%

  • Tradability

    How cheaply and easily you can get in and out — liquidity, spread, and premium/discount stability.
    CScore 49
    Category rank30/54 · mid-pack

  • Holdings

    What it actually owns — the quality, breadth, and concentration of the underlying portfolio.
    CScore 47
    Category rank13/16 · bottom quartile

  • Durability

    Whether it will still be here — the fund’s assets, age, flows, and issuer staying power.
    CScore 53
    Category rank20/54 · top 37%

Graded as of Sep 22, 2026 · Based on 5 of 6 pillars

Our read on EFZ

ETF.net Research

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.

Stated mandate

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

  1. 01Straight mirror, no gearing: the fund targets the inverse (-1x) of the MSCI EAFE Index's daily performance rather than a multiple of it.
  2. 02Far cheaper than its geared sibling: 1.44% a year against 7.29% for EFU, which shorts the same index at double the exposure.
  3. 03Trading since 2007, it has run through overseas booms and busts alike. That is unusual shelf life for an inverse product.

Worth knowing

  1. 01Daily 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.
  2. 02The 1.44% fee sits above the 1.21% median for bear funds, and it grinds on every day the position stays open.
  3. 03A small, thinly traded fund, so spreads and order size carry more weight here than in a headline ETF.

EFZ Holdings

As of Sep 20, 2026, 6:50 AM
Asset class
Stocks
Holdings
6
Top-10 weight
100%
Largest holding
IQMM86.7%

Geography

  • United States100.00%
The fund’s holdings, weight-ordered — page 1 of 1.
#TickerCompanyWeight %SharesMarket valueIn ETFs
001IQMMPROSHARES GENIUS MNY MKT ETF86.69%90,000$9M61
002—Net Other Assets (Liabilities)13.31%1,382,728$1M162

Showing 1–2 of 2 holdings

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$8,737
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. EFZ $8,737. SPY $11,723. Use the arrow keys to read each point.$8,240$10,131$12,023Sep 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 EFZ. Periods over one year show the average yearly return.
PeriodEFZ
Year to date−9.5%
1 month+1.8%
3 months−0.8%
1 year−12.6%
3 years−11.8%per year
5 years−5.9%per year
10 years−8.0%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 EFZ
YearReturn barEFZ
2026 YTD−9.5%
2025−20.9%
2024+2.9%
2023−10.4%
2022+13.1%
2021−12.8%
2020−16.0%

EFZ in the news

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

EFZ 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.
4.04%Last 12 months
Payout per share
$0.91Last 12 months
Last payment
$0.26 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. 22 payments from 2017 to 2026 YTD. Sep 26, 2018 $0.05; Dec 26, 2018 $0.15; Mar 20, 2019 $0.17; Jun 25, 2019 $0.19; Sep 25, 2019 $0.18; Dec 24, 2019 $0.22; Mar 25, 2020 $0.02; Dec 22, 2022 $0.23; Mar 22, 2023 $0.24; Jun 21, 2023 $0.37; Sep 20, 2023 $0.43; Dec 20, 2023 $0.56; Mar 20, 2024 $0.27; Jun 26, 2024 $0.47; Sep 25, 2024 $0.63; Dec 23, 2024 $0.40; Mar 26, 2025 $0.26; Jun 25, 2025 $0.30; Sep 24, 2025 $0.30; Dec 24, 2025 $0.30; Mar 25, 2026 $0.06; Jun 24, 2026 $0.26. Use the arrow keys to read each point.2017201820192020202120222023202420252026YTD
Ex-datePay dateAmount per share
Jun 24, 2026Jun 30, 2026$0.26
Mar 25, 2026Mar 31, 2026$0.06
Dec 24, 2025Dec 31, 2025$0.30
Sep 24, 2025Sep 30, 2025$0.30
Jun 25, 2025Jul 1, 2025$0.30
Mar 26, 2025Apr 1, 2025$0.26
Dec 23, 2024Dec 31, 2024$0.40
Sep 25, 2024Oct 2, 2024$0.63
Jun 26, 2024Jul 3, 2024$0.47
Mar 20, 2024Mar 27, 2024$0.27
Dec 20, 2023Dec 28, 2023$0.56
Sep 20, 2023Sep 27, 2023$0.43

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.

How much the fund’s monthly returns vary, scaled to a year.
12.1%
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.
−1.30
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.
−45.6%
Trough Aug 2026
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.
−0.62
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.

EFZ Cost

Expense ratio1.44%
  • The middle half of Leveraged Inverse (2x & Other) funds
  • Median 1.44%

26 of the 53 Leveraged Inverse (2x & Other) funds charge less.

EFZ costs $144.00 a year on $10,000. The median Leveraged Inverse (2x & Other) fund costs $144.00.