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DOG vs FXP

ProShares Short Dow30

DOGBNYSE Arca

ProShares UltraShort FTSE China 50

FXPCNYSE Arca

Overlap

5.9%by weight

Expense ratio

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

DOG0.95%FXP0.95%

Avg volume · 30D

DOG 1266.2×the volume

DOG4.77MFXP3.77K

10Y return · a year

DOG +9.6pt

DOG−10.9%FXP−20.5%

DOG vs FXP Performance

Oct 29, 2021 – Oct 30, 2026

−20.7%DOG−63.6%FXP

Oct 29, 2021 to Oct 30, 2026. DOG −20.7%. FXP −63.6%. Use the arrow keys to read each point.0%50%100%Oct 2021Apr 2024Oct 2026
Expense ratio
DOG 0.95%
FXP 0.95%
Fund size
DOG $115M
FXP $6M
1Y total return
DOG −4.9%
FXP +35.5%, better
Yield (12M)
DOG 3.15%, better
FXP 2.19%
Holdings
DOG 3
FXP 1
Avg volume (30D)
DOG 4.77M sh, better
FXP 3.77K sh
NAV per share
DOG $22.02
FXP $23.15
52W range

ETF.net Grade

DOG: Cost 50, Risk 65, Mission 97, Tradability 94, Holdings 43, Durability 69. FXP: Cost 50, Risk 56, Mission not scored, Tradability 16, Holdings not scored, Durability 49.
Pillar letters and Scores for DOG, FXP, with each pillar’s weight
PillarDOGFXP
Cost30% weightC50C50
Mission25% weightA97Not scored
Risk15% weightB65HigherB56
Tradability15% weightA94HigherF16
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 FXP 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 FXP 28th 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 28CDUSTDirexion Daily Gold Miners Index Bear 2X ETFScore 43
  4. Rank 28CFXPProShares UltraShort FTSE China 50Score 43
  5. Rank 28CSSGProShares UltraShort SemiconductorsScore 43

Our read on each fund

ETF.net Research

DOGBProShares Short Dow30

FXPCProShares UltraShort FTSE China 50

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.

FXP The only US ETF built to move two times the opposite of the FTSE China 50, the 50 largest Chinese companies listed in Hong Kong. Live since 2007, and it resets daily: a trading instrument, not a set-and-forget China short.

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.

FXP FXP seeks daily results, before fees and expenses, equal to two times the inverse of the FTSE China 50 Index’s daily performance. It is intended to gain when that index declines and lose when it rises.

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.
  • FXP One ticker, in an ordinary brokerage account, targeting -2x the FTSE China 50's daily move. ProShares calls it the only -2x ETF built on that index.proshares.com
  • Fee is 0.95% net of a waiver through September 30, 2027, near the category norm for leveraged and inverse funds and far below the 2.36% gross.
  • Listed in November 2007, making it one of the longest-running inverse China funds around, with mechanics investors have had years to get to know.proshares.com
  • Want half the gearing? Sibling YXI shorts the same index at -1x, also 0.95% net of a waiver through September 30, 2027.proshares.com

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
  • FXP Daily reset means multi-day results can drift far from -2x the index move, and choppy markets grind value down even if China ends flat.proshares.com
  • It trades lightly next to the big broad-market inverse funds, so spreads and order size deserve more attention.
  • Exposure is Hong Kong listed large caps, not mainland A-shares or smaller names, so it leans against one slice of China, not the whole market.proshares.com

Full DOG profile⁠

Full FXP profile⁠

DOG vs FXP Holdings

How DOG and FXP differ

Overlap by weight

5.9%

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

Level by level

  • Holdings0 in both5.9%
  • Asset classEquity100%

Sector

No Sector split for FXP.

Country, concentration and asset class

Country by domicile

No country split for FXP.

Concentration

Weight in the 10 largest Holdings

  • DOG100.0%
  • FXP100.0%

Securities held

  • DOG2
  • FXP0

Asset class

DOG
Equity
FXP
Equity

Holdings

  • Only in DOG2
  • In both0
  • Only in FXP0

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 FXP

0 securities, 0.0% of FXP by weight

Weight gaps

DOG and FXP share no securities.

All 12 DOG holdings⁠All 11 FXP 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 FXP 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

  • FXP 0.95%

    $17,869

$10,000
30 years

Cost over time

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

Year by year

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

Expense ratio

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

DOG 6th cheapest of 53 funds

FXP 6th cheapest of 53 funds

DOG vs FXP Dividends

Last 12 months to Oct 30, 2026
Yield (12M)
DOG 3.15%, better
FXP 2.19%
Payout (12M)
DOG $0.69
FXP $0.51
Last payment
DOG $0.17
FXP $0.12
Ex-dividend
DOG Sep 23, 2026
FXP Sep 23, 2026
Paid on
DOG Sep 29, 2026
FXP Sep 29, 2026
Frequency
DOG Quarterly
FXP 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$12017202020232026YTD
FXPQuarterly · 10 paymentsAll FXP payments⁠
One bar per payment. 10 payments from 2017 to 2026 YTD. Mar 20, 2024 $0.25; Jun 26, 2024 $0.28; Dec 23, 2024 $0.08; Mar 26, 2025 $1.00; Jun 25, 2025 $0.31; Sep 24, 2025 $0.26; Dec 24, 2025 $0.18; Mar 25, 2026 $0.10; Jun 24, 2026 $0.11; Sep 23, 2026 $0.12. Use the arrow keys to read each point.$0$12017202020232026YTD

DOG vs FXP Risk

Fall from peak · 5 years

  • DOG
  • FXP
Oct 29, 2021 to Oct 30, 2026. Worst fall: FXP −88.3% · Oct 2025. Use the arrow keys to read each point.−100%−75%−50%−25%0%Oct 2021Apr 2024Oct 2026

Risk facts

VolatilityStd dev, 3 years
DOG 11.7%, betterFXP 40.0%
Return per unit of riskSharpe ratio, 3 years
DOG −1.21FXP −0.77, better
Worst fallMax drawdown, 5 years
DOG −37.3%, betterFXP −88.3%
Market sensitivityBeta, 5 years
DOG −0.83FXP −0.61

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