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Launched · SEC filings

ProShares Ultra MSCI Japan

EZJNYSE ArcaProSharesDThis 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.

$62.75+0.47 (+0.76%)

At close: Nov 2, 2026, 4:00 PM ET

D38/ 100

Rank 71 of 99 in Leveraged Long (2x & Other)

D38/100Rank 71 of 99inLeveraged Long (2x & Other)
Intraday session: up, 66 prints from 62.28 to 62.75. Range 61.91 to 63.28. Use the arrow keys to read each point.62.0062.5063.0063.2510 AM12 PM2 PM4 PM
Expense ratio
1.18%*
Fund size
$11M
1Y total return
+22.7%
Yield · Last 12 months
2.19%
Holdings
3
Avg volume · 30D
3.27K sh
52W range
low $47.35high $71.88
Launched
Filings
SEC EDGAR

*After a fee waiver that ends Sep 30, 2027. Without it: 2.46%.

The ETF.net EZJ Grade

Based on 5 of 6 pillars

D

Score 38 out of 100

Category
Leveraged Long (2x & Other)⁠
Rank
71 of 99
Six-pillar profile for EZJ. Scores out of 100: Cost 14, Risk 66, Mission not scored, Tradability 54, Holdings 26, Durability 63. Strongest: Risk (66). Weakest: Cost (14). Based on 5 of 6 pillars.

Score 38 of 100 falls in the D 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.
    F14 out of 100
    Rank 85 of 99

  • 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.
    B66 out of 100
    Rank 23 of 98

  • Tradability

    How easy the fund is to trade: daily volume, and how far its price strays from net asset value.
    C54 out of 100
    Rank 48 of 99

  • Holdings

    How concentrated the fund is, and how complete and current its disclosed holdings are.
    D26 out of 100
    Rank 27 of 27

  • Durability

    Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.
    B63 out of 100
    Rank 29 of 99

Our read on EZJ

ETF.net Research

In short

DThe only US ETF built to track twice the MSCI Japan Index's daily move, listed since 2009. A daily-reset trade on Japan's large and mid caps, engineered for day-length holding periods.

Stated mandate

The fund seeks magnified positive daily exposure to the MSCI Japan Index, targeting twice the index's daily return before fees and expenses.

Why people hold it

  • ProShares states EZJ is the only ETF targeting 2x the daily return of the MSCI Japan Index, so there's no cheaper clone sitting next to it on the shelf.proshares.com
  • The index underneath is Japan's blue-chip core: MSCI's large and mid cap benchmark, covering roughly 85% of the market's free float. Not a narrow sector slice.msci.com
  • Listed in 2009, a long tenure for a leveraged fund, and run by a shop whose whole business is leveraged and inverse products.proshares.com
  • Gets its 2x through swaps and futures, so the magnified exposure arrives without you running a margin account.proshares.comproshares.com 2

Worth knowing

  • 1.18% net of a waiver through September 30, 2027 (2.46% gross), above the category median and above peers like QLD at 0.89%, itself net of a waiver through that date.
  • The 2x target resets daily. Over longer stretches, returns compound off each day's new base and can land well above or below 2x the index, especially after choppy markets.proshares.com
  • A small fund that trades thinly, so spreads can run wider than on headline leveraged ETFs. Yen moves against the dollar also ride along inside the index's dollar return.proshares.com

EZJ 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.

EZJ$12,270
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$11,146
Oct 31, 2025 to Nov 2, 2026. EZJ $12,270. SPY $11,146. Use the arrow keys to read each point.$10,000$12,000$14,000Oct 2025May 2026Nov 2026

Oct 31, 2025 – Nov 2, 2026

Returns run to the Nov 2, 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 EZJ. Periods over one year show the average yearly return.
PeriodEZJ
Year to date+23.2%
1 month−11.5%
3 months−0.4%
1 year+22.7%
3 yearsper year+26.7%
5 yearsper year+6.9%
10 yearsper year+8.8%

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 EZJ
YearReturn barEZJ
2026 YTD+23.2%
2025+42.7%
2024+3.3%
2023+30.8%
2022−38.2%

EZJ in the news

EZJ 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 2, 2026.
2.19%Last 12 months
Payout per share
$1.38Last 12 months
Last payment
$0.23 per share
Paid on
Shares bought on or after this date do not qualify for this distribution.
Frequency
Quarterly

Distribution history

2018–2026

One bar per payment. 19 payments from 2018 to 2026 YTD. Dec 26, 2018 $1.29; Mar 20, 2019 $0.05; Jun 25, 2019 $0.03; Sep 25, 2019 $0.02; Dec 22, 2022 $0.16; Jun 21, 2023 $0.02; Sep 20, 2023 $0.13; Dec 20, 2023 $0.26; Mar 20, 2024 $0.05; Jun 26, 2024 $0.24; Sep 25, 2024 $0.15; Dec 23, 2024 $0.32; Mar 26, 2025 $0.04; Jun 25, 2025 $0.18; Sep 24, 2025 $0.07; Dec 24, 2025 $0.29; Mar 25, 2026 $0.52; Jun 24, 2026 $0.33; Sep 23, 2026 $0.23. Use the arrow keys to read each point.201820192020202120222023202420252026YTD
Ex-datePay dateAmount per share
Sep 23, 2026Sep 29, 2026$0.23
Jun 24, 2026Jun 30, 2026$0.33
Mar 25, 2026Mar 31, 2026$0.52
Dec 24, 2025Dec 31, 2025$0.29
Sep 24, 2025Sep 30, 2025$0.07
Jun 25, 2025Jul 1, 2025$0.18
Mar 26, 2025Apr 1, 2025$0.04
Dec 23, 2024Dec 31, 2024$0.32
Sep 25, 2024Oct 2, 2024$0.15
Jun 26, 2024Jul 3, 2024$0.24
Mar 20, 2024Mar 27, 2024$0.05
Dec 20, 2023Dec 28, 2023$0.26

See all 19 payments⁠

$10,000 in EZJ 10 years ago paid $1,495 in dividends.⁠

EZJ Risk

Risk pillarB66 out of 100Rank 23 of 98 in Leveraged Long (2x & Other)

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.
25.0%
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.
0.98
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.
−53.6%
Trough Oct 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.
1.24
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.

EZJ Cost

Compare EZJ and WX

Overpaying vs WX, cheapest in Leveraged Long (2x & Other)

$17,388

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

  • EZJ 1.18%

    $21,543

  • WX 0.20% Cheapest

    $4,155

$10,000
30 years

Cost over time

  • EZJ 1.18%
  • WX 0.20%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$5K$10K$15K$20K$25K051015202530EZJ $21,543WX $4,155

Year by year

YearEZJWXOverpaying
10$2,065$365$1,700
20$7,697$1,421$6,276
30$21,543$4,155$17,388
How the 1.18% is worked out

Full fee 2.46%− waiver 1.28%= you pay 1.18%

The waiver ends Sep 30, 2027. After that the fee is 2.46% unless ProShares renews it. Source: prospectus, Sep 2026.

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