ProShares UltraShort FTSE Europe
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.
$19.09−0.18 (−0.92%)
- 1.36%
- $11M
- −19.7%
- 4.27%
- 0M sh
- $19.28
- low $16.55high $25.88
The ETF.net EPV Grade
C
Score 47 out of 100
- 30 of 54
Score 47 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.C53 out of 100Rank 26 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.C44 out of 100Rank 29 of 53Tradability
How easy the fund is to trade: daily volume, and how far its price strays from net asset value.C40 out of 100Rank 33 of 54Holdings
How concentrated the fund is, and how complete and current its disclosed holdings are.B56 out of 100Rank 6 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 EPV
COne ticker that aims to move twice the inverse of developed European stocks each day. EPV has been ProShares' Europe bear tool since 2009, and the reset is daily, so it is built for short holds rather than set-and-forget.
EPV seeks daily investment results, before fees and expenses, equal to two times the inverse of the daily performance of the FTSE Developed Europe All Cap Index.
Why people hold it
- Shorting Europe normally means margin or futures. EPV packages it as a registered 1940 Act fund you trade like a stock, targeting -2x the daily move of the FTSE Developed Europe All Cap Index.proshares.com
- Broad, not narrow. The reference index covers developed Europe across large, mid and small caps, so the position is not a wager on one country or one sector.proshares.com
- Launched in 2009, it has run through the euro-area debt crisis and every European drawdown since. Long tenure for a daily-reset product.
- Different bet than the currency version: sibling EUO targets the euro itself, while EPV targets European equities.
Worth knowing
- The -2x applies to a single day, then resets. Over longer stretches, especially choppy ones, compounding can pull results away from twice the index's inverse move.
- The 1.36% expense ratio sits above the middle of the leveraged and inverse peer group, and cost bites harder the longer a position stays open.
- This is a small, lightly traded fund, so spreads can run wider than on the household-name inverse tickers. Limit orders earn their keep here.
EPV Holdings
- Stocks
- 2
- 100%
- IQMM
Sectors
- Financials100.0%
Geography
- United States100.00%
EPV Performance
Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.
EPV$8,029
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 | EPV |
|---|---|
| Year to date | −9.9% |
| 1 month | +9.0% |
| 3 months | +6.6% |
| 1 year | −19.7% |
| 3 years | −26.0% |
| 5 years | −18.3% |
| 10 years | −21.9% |
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 | EPV |
|---|---|---|
| 2026 YTD | −9.9% | |
| 2025 | −45.2% | |
| 2024 | +2.0% | |
| 2023 | −30.8% | |
| 2022 | +15.5% | |
| 2021 | −31.6% | |
| 2020 | −37.3% |
EPV in the news
EPV Dividends
- 4.27%
- $0.82
- $0.23 per share
- Quarterly
Distribution history
EPV 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.
- 26.0%
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.
- −1.23
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.
- −81.2%
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.
- −1.25
How it’s calculated: beta
The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.
EPV Cost
1.36%
EPV1.36%
- The middle half of Leveraged Inverse (2x & Other) funds
- Median 1.44%
24 of the 53 Leveraged Inverse (2x & Other) funds charge less.
Other funds in Leveraged Inverse (2x & Other)
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- CSKFProShares UltraShort FinancialsExpense ratio 1.58%1 year return −9.5%
- CEMTYProShares - Decline of the Retail Store ETFExpense ratio 0.65%1 year return +2.2%
- CMYYProShares - Short MidCap400Expense ratio 2.22%1 year return −11.1%
- CQQDNProShares - UltraShort QQQ MegaExpense ratio 1.12%1 year return −30.0%