ProShares - UltraShort FTSE China 50
DThis 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.
$21.70−0.01 (−0.05%)
- 1.79%
- $6M
- +18.4%
- 2.33%
- 0M sh
- $21.71
- low $15.81high $26.20
The ETF.net FXP Grade
D
Score 36 out of 100
- 37 of 54
Score 36 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.D38 out of 100Rank 34 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.C54 out of 100Rank 20 of 53Tradability
How easy the fund is to trade: daily volume, and how far its price strays from net asset value.F14 out of 100Rank 53 of 54Holdings
How concentrated the fund is, and how complete and current its disclosed holdings are.Durability
Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.C49 out of 100Rank 28 of 54
Our read on FXP
DThe China bear trade in a single ticker. FXP aims to deliver two times the inverse of the FTSE China 50's daily move, and it has been doing that one job since 2007.
FXP seeks daily results, before fees and expenses, equal to two times the inverse of the FTSE China 50 Index’s daily performance. It is intended to gain when that index declines and lose when it rises.
Why people hold it
- Does one thing and says so plainly: seeks two times the inverse of the FTSE China 50's daily return, before fees. It gains when that index falls and loses when it rises.proshares.com
- Launched in 2007, it has traded through multiple China booms and busts. That is real longevity for a daily-reset leveraged fund.
- Wrapped in an ETF, so the short exposure comes without arranging a stock borrow, and what you put in is what you have at risk.proshares.com
Worth knowing
- Daily reset: the -2x target applies to one day at a time. Hold longer and compounding takes over, so multi-day results can diverge from twice the index's inverse move.proshares.com
- Fee runs 1.79% a year, above the typical leveraged or inverse fund, and it accrues daily whether Chinese stocks fall or not.
- Small asset base and light trading. Spreads can run wider than in the heavily traded bear funds, which makes limit orders the sane default.
FXP Holdings
- Stocks
- 1
- 100%
- Net Other Assets (Liabilities)
FXP Performance
Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.
FXP$11,836
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 | FXP |
|---|---|
| Year to date | +20.4% |
| 1 month | +1.3% |
| 3 months | −4.4% |
| 1 year | +18.4% |
| 3 years | −29.4% |
| 5 years | −20.0% |
| 10 years | −20.7% |
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 | FXP |
|---|---|---|
| 2026 YTD | +20.4% | |
| 2025 | −45.3% | |
| 2024 | −53.2% | |
| 2023 | +10.1% | |
| 2022 | −11.8% | |
| 2021 | +23.6% | |
| 2020 | −39.5% |
FXP in the news
FXP Dividends
- 2.33%
- $0.51
- $0.12 per share
- Quarterly
Distribution history
FXP 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.
- 40.2%
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.
- −0.76
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.
- −88.3%
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.
- −0.61
How it’s calculated: beta
The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.
FXP Cost
1.79%
FXP1.79%
- The middle half of Leveraged Inverse (2x & Other) funds
- Median 1.44%
32 of the 53 Leveraged Inverse (2x & Other) funds charge less.
Other funds in Leveraged Inverse (2x & Other)
- CYXIProShares - Short FTSE China 50Expense ratio 2.65%1 year return +12.9%
- DSCCProShares UltraShort Consumer DiscretionaryExpense ratio 4.44%1 year return +1.5%
- DSSGProShares UltraShort SemiconductorsExpense ratio 1.97%1 year return −69.1%
- DEWVProShares UltraShort MSCI JapanExpense ratio 2.51%1 year return −42.8%
- DREWProShares - UltraShort TechnologyExpense ratio 2.70%1 year return −55.5%