ProShares - Short Financials
$30.79+0.10 (+0.33%)
- Expense ratio
- 1.58%
- Fund size
- $14M
- 1Y return
- +1.4%
- Yield · Last 12 months
- 3.30%
- Holdings
- 11
- Volume · 30D
- 0M sh
- NAV per share
- $30.41
- 52W range
The ETF.net SEF Grade
Score 53 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 42Category rankMission
How faithfully it does the job it claims — tracking its mandate or index with minimal slippage.Not scoredRisk
How violently it can move — volatility, drawdown depth, and downside capture versus its category.AScore 71Category rankTradability
How cheaply and easily you can get in and out — liquidity, spread, and premium/discount stability.BScore 59Category rankHoldings
What it actually owns — the quality, breadth, and concentration of the underlying portfolio.CScore 53Category rankDurability
Whether it will still be here — the fund’s assets, age, flows, and issuer staying power.BScore 57Category rank
Our read on SEF
CLaunched in June 2008, right as the banking system caught fire. SEF is the plain, unlevered version of a bet against financials: one ticker that aims for -1x the daily move of the S&P 500's financial sector.
The fund seeks inverse daily results, before fees and expenses, relative to the S&P Financial Select Sector Index.
Why people hold it
- Inverse exposure without a margin account, a borrow, or a short-sale ticket. You buy shares like any ETF, and the fund uses swaps to get the short side.proshares.comproshares.com
- The low-octane choice in its own family: sibling SKF targets the same financials index at double the intensity for the same 1.58% fee. SEF keeps the multiple at -1x.
- ProShares calls it the only -1x ETF built to move opposite the financials sector, tracking the S&P Financial Select Sector Index of financial companies in the S&P 500.proshares.com
Worth knowing
- The 1.58% expense ratio runs above the typical inverse or leveraged fund, and it applies every day you hold, whichever way financials go.
- The -1x target resets daily. Hold longer and compounding takes over, so multi-day results can drift well away from the inverse of the index's move over that stretch.proshares.com
- A small fund that trades lightly, so spreads and order size matter more here than in the headline sector ETFs.
SEF Holdings
- Stocks
- 11
- 100%
- IQMM
Sectors
- Financials100.0%
Geography
- United States100.00%
SEF Performance
Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.
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.
| Period | SEF |
|---|---|
| Year to date | +1.9% |
| 1 month | +5.0% |
| 3 months | −1.2% |
| 1 year | +1.4% |
| 3 years | −11.9% |
| 5 years | −6.5% |
| 10 years | −11.7% |
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 | SEF |
|---|---|---|
| 2026 YTD | +1.9% | |
| 2025 | −9.8% | |
| 2024 | −17.8% | |
| 2023 | −8.9% | |
| 2022 | +11.8% | |
| 2021 | −27.0% | |
| 2020 | −16.9% |
SEF in the news
ETF.net Research hasn’t filed on SEF yet — coverage lands here as it’s written.
SEF Dividends
- 3.30%
- $1.02
- $0.25 per share
- Quarterly
Distribution history
| Ex-date | Pay date | Amount per share |
|---|---|---|
| Jun 24, 2026 | Jun 30, 2026 | $0.25 |
| Mar 25, 2026 | Mar 31, 2026 | $0.11 |
| Dec 24, 2025 | Dec 31, 2025 | $0.33 |
| Sep 24, 2025 | Sep 30, 2025 | $0.33 |
| Jun 25, 2025 | Jul 1, 2025 | $0.35 |
| Mar 26, 2025 | Apr 1, 2025 | $0.32 |
| Dec 23, 2024 | Dec 31, 2024 | $0.54 |
| Sep 25, 2024 | Oct 2, 2024 | $0.39 |
| Jun 26, 2024 | Jul 3, 2024 | $0.66 |
| Mar 20, 2024 | Mar 27, 2024 | $0.45 |
| Dec 20, 2023 | Dec 28, 2023 | $0.77 |
| Sep 20, 2023 | Sep 27, 2023 | $0.55 |
SEF 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.
- 13.8%
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.
- −1.25
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.
- −42.7%
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.
- −0.74
How it’s calculated: beta
The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.
SEF Cost
- The middle half of Leveraged Inverse (2x & Other) funds
- Median 1.44%
29 of the 53 Leveraged Inverse (2x & Other) funds charge less.