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DOG vs EWV

ProShares Short Dow30

DOGBNYSE Arca

ProShares UltraShort MSCI Japan

EWVCNYSE Arca

Overlap

5.9%by weight

Expense ratio

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

DOG0.95%EWV0.95%

Avg volume · 30D

DOG 476.2×the volume

DOG4.77MEWV10K

10Y return · a year

DOG +7.9pt

DOG−11.0%EWV−18.9%

DOG vs EWV Performance

Nov 2, 2021 – Nov 2, 2026

−20.6%DOG−60.8%EWV

Nov 2, 2021 to Nov 2, 2026. DOG −20.6%. EWV −60.8%. Use the arrow keys to read each point.0%25%50%75%Nov 2021May 2024Nov 2026
Expense ratio
DOG 0.95%
EWV 0.95%
Fund size
DOG $115M
EWV $4M
1Y total return
DOG −5.3%, better
EWV −28.6%
Yield (12M)
DOG 3.16%
EWV 4.66%, better
Holdings
DOG 3
EWV 1
Avg volume (30D)
DOG 4.77M sh, better
EWV 10K sh
NAV per share
DOG $22.02
EWV $17.51
52W range

ETF.net Grade

DOG: Cost 50, Risk 66, Mission 97, Tradability 94, Holdings 43, Durability 69. EWV: Cost 50, Risk 36, Mission not scored, Tradability 34, Holdings not scored, Durability 49.
Pillar letters and Scores for DOG, EWV, with each pillar’s weight
PillarDOGEWV
Cost30% weightC50C50
Mission25% weightA97Not scored
Risk15% weightB66HigherD36
Tradability15% weightA94HigherD34
Holdings10% weightC43Not scored
Durability5% weightB69HigherC49

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 EWV 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 EWV 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 32CEMTYProShares Decline of the Retail Store ETFScore 40
  4. Rank 32CEWVProShares UltraShort MSCI JapanScore 40
  5. Rank 32CMYYProShares Short MidCap400Score 40

Our read on each fund

ETF.net Research

DOGBProShares Short Dow30

EWVCProShares UltraShort MSCI Japan

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.

EWV A -2x daily bet against the MSCI Japan Index, running since 2007. ProShares calls it the only -2x fund on that bench. Fee: 0.95% net of a waiver through September 30, 2027.

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.

EWV The fund seeks daily investment results, before fees and expenses, equal to two times the inverse (-2x) of the daily performance of the MSCI Japan Index.

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.
  • EWV Does one thing: aims for two times the inverse of the MSCI Japan Index's daily move, with no margin account or stock borrow on your end.
  • ProShares bills it as the only -2x ETF on the MSCI Japan Index, so there is no cheaper clone to shop against.proshares.com
  • Trading since 2007, long staying power for a geared fund.
  • 0.95% net of a waiver through September 30, 2027 (2.28% gross), matching ProShares' other geared shorts such as DOG and PSQ at 0.95% net of waivers through the same date.

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
  • EWV Leverage resets daily. Hold past a day and results depend on the index's path, which can land far from -2x over a stretch.
  • A small fund that trades lightly, so spreads and limit orders matter more here than with the big index shorts. It pays quarterly.
  • The reference index is Japan's large and mid caps, about 85% of the market's free float, so this is a country call, not a sector or single-stock one.msci.com

Full DOG profile⁠

Full EWV profile⁠

DOG vs EWV Holdings

How DOG and EWV differ

Overlap by weight

5.9%

Shared holdings make up 100% of EWV and 5.9% of DOG.

Level by level

  • Holdings0 in both5.9%
  • Asset classEquity100%

Sector

No Sector split for EWV.

Country, concentration and asset class

Country by domicile

No country split for EWV.

Concentration

Weight in the 10 largest Holdings

  • DOG100.0%
  • EWV100.0%

Securities held

  • DOG2
  • EWV0

Asset class

DOG
Equity
EWV
Equity

Holdings

  • Only in DOG2
  • In both0
  • Only in EWV0

Only in DOG

2 securities, 94.1% of DOG by weight

  • Proshares Genius Mny Mkt Etf89.61%
  • TREASURY BILL, 0%, due 2026-12-174.45%

Only in EWV

0 securities, 0.0% of EWV by weight

Weight gaps

DOG and EWV share no securities.

All 12 DOG holdings⁠All 5 EWV 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 EWV 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

  • EWV 0.95%

    $17,869

$10,000
30 years

Cost over time

  • DOG 0.95%
  • EWV 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 $17,869EWV $17,869

Year by year

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

Expense ratio

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

DOG 6th cheapest of 53 funds

EWV 6th cheapest of 53 funds

DOG vs EWV Dividends

Last 12 months to Nov 2, 2026
Yield (12M)
DOG 3.16%
EWV 4.66%, better
Payout (12M)
DOG $0.69
EWV $0.82
Last payment
DOG $0.17
EWV $0.22
Ex-dividend
DOG Sep 23, 2026
EWV Sep 23, 2026
Paid on
DOG Sep 29, 2026
EWV Sep 29, 2026
Frequency
DOG Quarterly
EWV 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
EWVQuarterly · 22 paymentsAll EWV payments⁠
One bar per payment. 22 payments from 2017 to 2026 YTD. Dec 26, 2018 $0.0004; Mar 20, 2019 $0.02; Jun 25, 2019 $0.09; Sep 25, 2019 $0.17; Dec 24, 2019 $0.04; Sep 21, 2022 $0.28; Dec 22, 2022 $0.18; Mar 22, 2023 $0.28; Jun 21, 2023 $0.39; Sep 20, 2023 $0.47; Dec 20, 2023 $0.52; Mar 20, 2024 $0.27; Jun 26, 2024 $0.37; Sep 25, 2024 $0.34; Dec 23, 2024 $0.44; Mar 26, 2025 $0.16; Jun 25, 2025 $0.19; Sep 24, 2025 $0.30; Dec 24, 2025 $0.27; Mar 25, 2026 $0.15; Jun 24, 2026 $0.19; Sep 23, 2026 $0.22. Use the arrow keys to read each point.$0$0.502017202020232026YTD

DOG vs EWV Risk

Fall from peak · 5 years

  • DOG
  • EWV
Nov 2, 2021 to Nov 2, 2026. Worst fall: EWV −80.8% · Oct 2026. Use the arrow keys to read each point.−80%−60%−40%−20%0%Nov 2021May 2024Nov 2026

Risk facts

VolatilityStd dev, 3 years
DOG 11.7%, betterEWV 25.2%
Return per unit of riskSharpe ratio, 3 years
DOG −1.21, betterEWV −1.51
Worst fallMax drawdown, 5 years
DOG −37.3%, betterEWV −80.8%
Market sensitivityBeta, 5 years
DOG −0.83EWV −1.22

DOG and EWV in the news

All news⁠

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