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BZQ vs DOG

ProShares UltraShort MSCI Brazil Capped

BZQCNYSE Arca

ProShares Short Dow30

DOGBNYSE Arca

Overlap

Expense ratio

Same figure. Both funds show the same value, so neither comes out ahead.

BZQ0.95%DOG0.95%

Avg volume · 30D

DOG 457.1×the volume

BZQ10.4KDOG4.77M

10Y return · a year

DOG +21.8pt

BZQ−32.8%DOG−11.0%

BZQ vs DOG Performance

Nov 2, 2021 – Nov 2, 2026

−84.3%BZQ−20.6%DOG

Nov 2, 2021 to Nov 2, 2026. BZQ −84.3%. DOG −20.6%. Use the arrow keys to read each point.−60%−40%0%20%Nov 2021May 2024Nov 2026
Expense ratio
BZQ 0.95%
DOG 0.95%
Fund size
BZQ $2M
DOG $115M
1Y total return
BZQ −35.0%
DOG −5.3%, better
Yield (12M)
BZQ 6.74%, better
DOG 3.16%
Holdings
BZQ 1
DOG 3
Avg volume (30D)
BZQ 10.4K sh
DOG 4.77M sh, better
NAV per share
BZQ $21.30
DOG $22.02
52W range

ETF.net Grade

BZQ: Cost 50, Risk 37, Mission not scored, Tradability 30, Holdings not scored, Durability 41. DOG: Cost 50, Risk 66, Mission 97, Tradability 94, Holdings 43, Durability 69.
Pillar letters and Scores for BZQ, DOG, with each pillar’s weight
PillarBZQDOG
Cost30% weightC50C50
Mission25% weightNot scoredA97
Risk15% weightD37B66Higher
Tradability15% weightD30A94Higher
Holdings10% weightNot scoredC43
Durability5% weightC41B69Higher

Rank among Leveraged Inverse (2x & Other) funds

How we build Categories ›
Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

Same Category. BZQ and DOG are both graded against the same 53 Leveraged Inverse (2x & Other) funds, so their Grades compare head to head.

Leveraged Inverse (2x & Other)⁠

Category · 53 funds
See all 53 ›

DOG ranks 1st and BZQ 32nd of 53 funds in the Leveraged Inverse (2x & Other) Category.

  1. Rank 1BDOGProShares Short Dow30Score 65
  2. Rank 1BPSQProShares Short QQQScore 65
  3. Rank 31CJDSTDirexion Daily Junior Gold Miners Index Bear 2X ETFScore 41
  4. Rank 32CBZQProShares UltraShort MSCI Brazil CappedScore 40
  5. Rank 32CEEVProShares UltraShort MSCI Emerging MarketsScore 40

Our read on each fund

ETF.net Research

BZQCProShares UltraShort MSCI Brazil Capped

DOGBProShares Short Dow30

In short

BZQ The only US ETF built to deliver twice the inverse of Brazil's large-cap index, and it has done that job since 2009. A one-day instrument, priced at 0.95% net of a waiver through September 30, 2027.

DOG The plain-vanilla short on the Dow: DOG aims to deliver the inverse of the index's move each day, with no 2x or 3x bolted on. Running since 2006, and ProShares bills it as the only -1x ETF built on the Dow.

Stated mandate

BZQ BZQ seeks daily results corresponding to two times the inverse performance of the MSCI Brazil 25/50 Index, before fees and expenses.

DOG DOG seeks daily investment results, before fees and expenses, that correspond to the inverse of the Dow Jones Industrial Average's daily performance.

Why people hold it

  • BZQ ProShares calls it the only -2x ETF designed to profit from declines in Brazilian stocks: one ticker instead of stacked single-name shorts or futures.proshares.com
  • 0.95% net of a waiver through September 30, 2027, near the category norm and level with ProShares' index shorts PSQ and DOG (each 0.95% net, waived to the same date).
  • Trading since June 2009, which covers several full Brazil boom-and-bust cycles. Old plumbing, well-worn mechanism.
  • The mandate is narrow and literal: -2x the daily move of the MSCI Brazil 25/50 Index, before fees and expenses. No manager calls, no hedging overlay.
  • DOG 0.95% net of a waiver through September 30, 2027 (1.00% gross), which sits near the typical fee among leveraged and inverse funds.
  • Sticks close to its daily inverse target, one of the tighter implementations in its peer group.proshares.com
  • Actively traded for an inverse fund, so getting in and back out is rarely the hard part.
  • Live since 2006, so the mechanism has run through the financial crisis, 2020 and every tape since.

Worth knowing

  • BZQ The objective resets daily. Hold past a day and compounding takes over, so longer-run results can drift well away from -2x, especially when Brazil whipsaws.proshares.com
  • Gross expenses run 2.71%; the 0.95% net depends on a waiver running through September 30, 2027.
  • Assets are small and trading is light for the category, so bid-ask spreads and order size matter more here than in a large index short.
  • DOG The target resets every day. Hold longer than a day and the result depends on the path the Dow takes, not just its direction.proshares.com
  • If the waiver lapses after September 30, 2027, the fee steps up toward the 1.00% gross figure.
  • The Dow is 30 price-weighted names, so this is a short on a narrow, old-school slice of the market rather than the broad tape.proshares.com

Full BZQ profile⁠

Full DOG profile⁠

BZQ vs DOG Holdings

How we measure overlap

Each holding counts at its smaller weight in the two funds, summed over the full Holdings. Sector, country and asset class use the same rule on each fund’s split. Cash, FX and derivative lines stay out of the counts. Two bond funds get no overlap figure.

BZQ vs DOG Cost

Same expense ratio

$17,869

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

  • BZQ 0.95%

    $17,869

  • DOG 0.95%

    $17,869

$10,000
30 years

Cost over time

  • BZQ 0.95%
  • DOG 0.95%
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$5K$10K$15K$20K051015202530BZQ $17,869DOG $17,869

Year by year

YearBZQDOG
10$1,678$1,678
20$6,322$6,322
30$17,869$17,869

Expense ratio

  • 0.95%BZQ
  • 0.95%DOG
  • Middle half of Leveraged Inverse (2x & Other) funds
  • Median 0.95%

BZQ 6th cheapest of 53 funds

DOG 6th cheapest of 53 funds

BZQ vs DOG Dividends

Last 12 months to Nov 2, 2026
Yield (12M)
BZQ 6.74%, better
DOG 3.16%
Payout (12M)
BZQ $1.46
DOG $0.69
Last payment
BZQ $0.30
DOG $0.17
Ex-dividend
BZQ Sep 23, 2026
DOG Sep 23, 2026
Paid on
BZQ Sep 29, 2026
DOG Sep 29, 2026
Frequency
BZQ Quarterly
DOG Quarterly

Distribution history

Per share, 2017 to 2026, same scale for both

BZQQuarterly · 22 paymentsAll BZQ payments⁠
One bar per payment. 22 payments from 2017 to 2026 YTD. Dec 26, 2018 $1.61; Mar 20, 2019 $1.65; Jun 25, 2019 $1.46; Sep 25, 2019 $1.81; Dec 24, 2019 $1.31; Mar 25, 2020 $0.30; Dec 22, 2022 $0.18; Mar 22, 2023 $0.39; Jun 21, 2023 $0.47; Sep 20, 2023 $0.45; Dec 20, 2023 $0.50; Mar 20, 2024 $0.30; Jun 26, 2024 $0.40; Sep 25, 2024 $0.85; Dec 23, 2024 $0.95; Mar 26, 2025 $0.40; Jun 25, 2025 $0.35; Sep 24, 2025 $0.49; Dec 24, 2025 $0.59; Mar 25, 2026 $0.25; Jun 24, 2026 $0.32; Sep 23, 2026 $0.30. Use the arrow keys to read each point.$0$22017202020232026YTD
DOGQuarterly · 26 paymentsAll DOG payments⁠
One bar per payment. 26 payments from 2017 to 2026 YTD. Dec 26, 2017 $0.02; Mar 21, 2018 $0.06; Jun 20, 2018 $0.12; Sep 26, 2018 $0.16; Dec 26, 2018 $0.19; Mar 20, 2019 $0.17; Jun 25, 2019 $0.25; Sep 25, 2019 $0.20; Dec 24, 2019 $0.14; Mar 25, 2020 $0.06; Dec 22, 2022 $0.14; Mar 22, 2023 $0.20; Jun 21, 2023 $0.35; Sep 20, 2023 $0.39; Dec 20, 2023 $0.41; Mar 20, 2024 $0.32; Jun 26, 2024 $0.40; Sep 25, 2024 $0.36; Dec 23, 2024 $0.43; Mar 26, 2025 $0.18; Jun 25, 2025 $0.21; Sep 24, 2025 $0.21; Dec 24, 2025 $0.26; Mar 25, 2026 $0.10; Jun 24, 2026 $0.16; Sep 23, 2026 $0.17. Use the arrow keys to read each point.$0$22017202020232026YTD

BZQ vs DOG Risk

Fall from peak · 5 years

  • BZQ
  • DOG
Nov 2, 2021 to Nov 2, 2026. Worst fall: BZQ −90.7% · Oct 2026. Use the arrow keys to read each point.−100%−75%−50%−25%0%Nov 2021May 2024Nov 2026

Risk facts

VolatilityStd dev, 3 years
BZQ 44.6%DOG 11.7%, better
Return per unit of riskSharpe ratio, 3 years
BZQ −0.54, betterDOG −1.21
Worst fallMax drawdown, 5 years
BZQ −90.7%DOG −37.3%, better
Market sensitivityBeta, 5 years
BZQ −0.58DOG −0.83

BZQ and DOG in the news

All news⁠

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