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DOG vs EFZ

ProShares Short Dow30

DOGBNYSE Arca

ProShares Short MSCI EAFE

EFZCNYSE Arca

Overlap

Expense ratio

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

DOG0.95%EFZ0.95%

Avg volume · 30D

DOG 588.4×the volume

DOG4.77MEFZ8.11K

10Y return · a year

EFZ +2.9pt

DOG−10.9%EFZ−8.0%

DOG vs EFZ Performance

Oct 29, 2021 – Oct 30, 2026

−20.7%DOG−22.8%EFZ

Oct 29, 2021 to Oct 30, 2026. DOG −20.7%. EFZ −22.8%. Use the arrow keys to read each point.−10%0%10%20%30%Oct 2021Apr 2024Oct 2026
Expense ratio
DOG 0.95%
EFZ 0.95%
Fund size
DOG $115M
EFZ $10M
1Y total return
DOG −4.9%, better
EFZ −8.7%
Yield (12M)
DOG 3.15%
EFZ 3.67%, better
Holdings
DOG 3
EFZ 2
Avg volume (30D)
DOG 4.77M sh, better
EFZ 8.11K sh
NAV per share
DOG $22.02
EFZ $23.21
52W range

ETF.net Grade

DOG: Cost 50, Risk 65, Mission 97, Tradability 94, Holdings 43, Durability 69. EFZ: Cost 50, Risk 63, Mission not scored, Tradability 44, Holdings 46, Durability 54.
Pillar letters and Scores for DOG, EFZ, with each pillar’s weight
PillarDOGEFZ
Cost30% weightC50C50
Mission25% weightA97Not scored
Risk15% weightB65HigherB63
Tradability15% weightA94HigherC44
Holdings10% weightC43C46Higher
Durability5% weightB69HigherC54

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. DOG and EFZ 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 EFZ 21st of 53 funds in the Leveraged Inverse (2x & Other) Category.

  1. Rank 1BDOGProShares Short Dow30Score 65
  2. Rank 1BSVXYProShares Short VIX Short-Term Futures ETFScore 65
  3. Rank 17CTWMProShares UltraShort Russell2000Score 52
  4. Rank 21CEFZProShares Short MSCI EAFEScore 51
  5. Rank 21CQQQDDirexion Daily Magnificent 7 Bear 1X ETFScore 51

Our read on each fund

ETF.net Research

DOGBProShares Short Dow30

EFZCProShares Short MSCI EAFE

In short

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.

EFZ Most inverse ETFs aim at the S&P or the Nasdaq. EFZ aims overseas: a straight -1x of the MSCI EAFE Index's daily move, no leverage stacked on top, running since 2007.

Stated mandate

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

EFZ EFZ seeks daily investment results corresponding to the inverse (-1x) of the daily performance of the MSCI EAFE Index, before fees and expenses.

Why people hold it

  • 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.
  • EFZ A one-day inverse on developed markets outside the US and Canada: Europe, Japan, Australasia. The trade rides their session, not America's.proshares.com
  • Straight -1x, no gearing stacked on top, so the daily-reset drift that hits -2x and -3x funds is much milder here.proshares.com
  • 0.95% net of a waiver through September 30, 2027 (1.70% gross), near the category norm and matching the net fee on DOG, PSQ and RWM, each waived to the same date.
  • Trading since 2007, through the crisis and every scare since, and it stands in the upper half of its inverse peer group.

Worth knowing

  • 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
  • EFZ The objective resets every day. Over longer holds the result depends on the index's path, not just its net move.
  • EAFE markets close hours before the US bell, and ProShares notes the index isn't priced at the US close, so a day's move can look out of sync.proshares.com
  • One of the lighter-traded corners of the inverse lineup, so spreads and limit orders matter more than with the big US index shorts.

Full DOG profile⁠

Full EFZ profile⁠

DOG vs EFZ 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.

DOG vs EFZ Cost

Same expense ratio

$17,869

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

  • DOG 0.95%

    $17,869

  • EFZ 0.95%

    $17,869

$10,000
30 years

Cost over time

  • DOG 0.95%
  • EFZ 0.95%
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$5K$10K$15K$20K051015202530DOG $17,869EFZ $17,869

Year by year

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

Expense ratio

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

DOG 6th cheapest of 53 funds

EFZ 6th cheapest of 53 funds

DOG vs EFZ Dividends

Last 12 months to Oct 30, 2026
Yield (12M)
DOG 3.15%
EFZ 3.67%, better
Payout (12M)
DOG $0.69
EFZ $0.85
Last payment
DOG $0.17
EFZ $0.23
Ex-dividend
DOG Sep 23, 2026
EFZ Sep 23, 2026
Paid on
DOG Sep 29, 2026
EFZ Sep 29, 2026
Frequency
DOG Quarterly
EFZ Quarterly

Distribution history

Per share, 2017 to 2026, same scale for both

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$0.502017202020232026YTD
EFZQuarterly · 23 paymentsAll EFZ payments⁠
One bar per payment. 23 payments from 2017 to 2026 YTD. Sep 26, 2018 $0.05; Dec 26, 2018 $0.15; Mar 20, 2019 $0.17; Jun 25, 2019 $0.19; Sep 25, 2019 $0.18; Dec 24, 2019 $0.22; Mar 25, 2020 $0.02; Dec 22, 2022 $0.23; Mar 22, 2023 $0.24; Jun 21, 2023 $0.37; Sep 20, 2023 $0.43; Dec 20, 2023 $0.56; Mar 20, 2024 $0.27; Jun 26, 2024 $0.47; Sep 25, 2024 $0.63; Dec 23, 2024 $0.40; Mar 26, 2025 $0.26; Jun 25, 2025 $0.30; Sep 24, 2025 $0.30; Dec 24, 2025 $0.30; Mar 25, 2026 $0.06; Jun 24, 2026 $0.26; Sep 23, 2026 $0.23. Use the arrow keys to read each point.$0$0.502017202020232026YTD

DOG vs EFZ Risk

Fall from peak · 5 years

  • DOG
  • EFZ
Oct 29, 2021 to Oct 30, 2026. Worst fall: EFZ −45.6% · Aug 2026. Use the arrow keys to read each point.−50%−40%−30%−20%−10%0%Oct 2021Apr 2024Oct 2026

Risk facts

VolatilityStd dev, 3 years
DOG 11.7%, betterEFZ 11.8%
Return per unit of riskSharpe ratio, 3 years
DOG −1.21, betterEFZ −1.42
Worst fallMax drawdown, 5 years
DOG −37.3%, betterEFZ −45.6%
Market sensitivityBeta, 5 years
DOG −0.83EFZ −0.62

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