ProShares - UltraShort Technology
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.
$10.280.00 (0.00%)
- 2.70%
- $3M
- −55.5%
- 7.48%
- 0M sh
- $10.28
- low $9.60high $27.68
The ETF.net REW Grade
D
Score 32 out of 100
- 39 of 54
Score 32 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.
Very small fund, grade capped at C.
The cap holds the Score at 40 or below, so B and A are out of reach.
- The pillars earned
- 32
- This cap took
- −0
- Published Score
- 32
Cost
The fund’s net expense ratio, ranked against its category.F24 out of 100Rank 41 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.F19 out of 100Rank 50 of 53Tradability
How easy the fund is to trade: daily volume, and how far its price strays from net asset value.B58 out of 100Rank 19 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.C44 out of 100Rank 32 of 54
Our read on REW
DThe only -2x bet on the S&P 500's tech sector, running since 2007. It resets every single day, which makes it a short-stretch trading tool rather than a park-it-and-forget short.
The Fund seeks daily investment results corresponding to -2x the daily performance of the S&P Technology Select Sector Index.
Why people hold it
- A niche of one: ProShares describes it as the only -2x ETF built to move up when the daily price of the technology sector moves down.proshares.com
- Launched in 2007, so it has traded through a full run of tech booms and busts. Longevity is rare in the leveraged and inverse aisle.
- Its target is the S&P Technology Select Sector Index, a pure tech-sector benchmark, not the multi-sector Nasdaq-100 behind inverse funds like PSQ.proshares.com
- Short exposure through one ticker in an ordinary brokerage account: no margin agreement, no borrowing shares, no position bigger than what you put in.proshares.com
Worth knowing
- The 2.70% expense ratio runs more than double the 1.21% median for its leveraged and inverse peer group, a meaningful cost on any holding period.
- The -2x applies to a single day. Hold longer and daily compounding takes over, so results can differ in size and even direction from -2x the index.proshares.comprospectus.proshares.com
- Small and lightly traded, so spreads can widen and larger orders can push the price. Limit orders do real work here.
REW Holdings
- Stocks
- 1
- 100%
- Net Other Assets (Liabilities)
REW Performance
Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.
REW$4,448
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 | REW |
|---|---|
| Year to date | −52.0% |
| 1 month | −9.0% |
| 3 months | −12.9% |
| 1 year | −55.5% |
| 3 years | −47.6% |
| 5 years | −38.5% |
| 10 years | −44.1% |
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 | REW |
|---|---|---|
| 2026 YTD | −52.0% | |
| 2025 | −43.2% | |
| 2024 | −33.7% | |
| 2023 | −61.4% | |
| 2022 | +65.7% | |
| 2021 | −53.6% | |
| 2020 | −71.3% |
REW in the news
REW Dividends
- 7.48%
- $0.77
- $0.07 per share
- Quarterly
Distribution history
REW 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.
- 39.3%
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.
- −1.57
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.
- −94.3%
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.
- −2.58
How it’s calculated: beta
The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.
REW Cost
2.70%
REW2.70%
- The middle half of Leveraged Inverse (2x & Other) funds
- Median 1.44%
40 of the 53 Leveraged Inverse (2x & Other) funds charge less.
Other funds in Leveraged Inverse (2x & Other)
- DSSGProShares UltraShort SemiconductorsExpense ratio 1.97%1 year return −69.1%
- DEWVProShares UltraShort MSCI JapanExpense ratio 2.51%1 year return −42.8%
- DSDPProShares - UltraShort UtilitiesExpense ratio 5.29%1 year return +14.1%
- DBZQProShares - UltraShort MSCI Brazil CappedExpense ratio 1.99%1 year return −66.2%
- DEEVProShares - UltraShort MSCI Emerging MarketsExpense ratio 2.69%1 year return −46.8%