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EPV vs PSQ

ProShares UltraShort FTSE Europe

EPVCNYSE Arca

ProShares Short QQQ

PSQBNYSE Arca

Overlap

Expense ratio

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

EPV0.95%PSQ0.95%

Avg volume · 30D

PSQ 813.6×the volume

EPV16KPSQ13M

10Y return · a year

PSQ +4.5pt

EPV−22.5%PSQ−18.0%

EPV vs PSQ Performance

Nov 2, 2021 – Nov 2, 2026

−61.4%EPV−41.5%PSQ

Nov 2, 2021 to Nov 2, 2026. EPV −61.4%. PSQ −41.5%. Use the arrow keys to read each point.−25%0%25%50%75%Nov 2021May 2024Nov 2026
Expense ratio
EPV 0.95%
PSQ 0.95%
Fund size
EPV $11M
PSQ $611M
1Y total return
EPV −21.4%
PSQ −5.7%, better
Yield (12M)
EPV 4.45%, better
PSQ 3.85%
Holdings
EPV 2
PSQ 4
Avg volume (30D)
EPV 16K sh
PSQ 13M sh, better
NAV per share
EPV $18.58
PSQ $26.64
52W range

ETF.net Grade

EPV: Cost 50, Risk 40, Mission not scored, Tradability 36, Holdings 55, Durability 54. PSQ: Cost 50, Risk 60, Mission 98, Tradability 98, Holdings 55, Durability 72.
Pillar letters and Scores for EPV, PSQ, with each pillar’s weight
PillarEPVPSQ
Cost30% weightC50C50
Mission25% weightNot scoredA98
Risk15% weightC40B60Higher
Tradability15% weightD36A98Higher
Holdings10% weightB55B55
Durability5% weightC54A72Higher

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. EPV and PSQ 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 ›

PSQ ranks 1st and EPV 27th of 53 funds in the Leveraged Inverse (2x & Other) Category.

  1. Rank 1BDOGProShares Short Dow30Score 65
  2. Rank 1BPSQProShares Short QQQScore 65
  3. Rank 1BSVXYProShares Short VIX Short-Term Futures ETFScore 65
  4. Rank 26CBTCZT-Rex 2X Inverse Bitcoin Daily Target ETFScore 46
  5. Rank 27CEPVProShares UltraShort FTSE EuropeScore 44
  6. Rank 27CSSGProShares UltraShort SemiconductorsScore 44

Our read on each fund

ETF.net Research

EPVCProShares UltraShort FTSE Europe

PSQBProShares Short QQQ

In short

EPV The only US ETF built to target -2x the daily move of developed Europe stocks. Pan-European short exposure from a single ticker, no margin account or borrowed shares, running since 2009.

PSQ The plain short on the Nasdaq-100: PSQ aims for -1x the index's daily move, with no leverage multiplier bolted on. It has been running since 2006, making it one of the original one-for-one bear tools.

Stated mandate

EPV EPV seeks daily investment results, before fees and expenses, equal to two times the inverse of the daily performance of the FTSE Developed Europe All Cap Index.

PSQ The fund is designed to provide -1x exposure to the Nasdaq-100 Index's daily price movement, seeking to benefit when that index declines.

Why people hold it

  • EPV ProShares bills it as the only -2x ETF designed to profit when the FTSE Developed Europe All Cap Index falls on the day. Continent-wide short exposure, one ticker, no margin account.proshares.com
  • 0.95% net of a waiver through September 30, 2027 (1.47% gross), near the category median and matching stablemates DOG and PSQ at 0.95% net, also waived to that date.
  • Listed in 2009, long-lived for a tactical product, and it sits in the upper half of its leveraged-bear peer group on our review.
  • The benchmark is all-cap developed Europe, so the short is on the broad market rather than a handful of mega-cap names.proshares.com
  • PSQ ProShares bills it as the only -1x ETF built to profit when the Nasdaq-100's daily price falls. Sibling QID doubles the dose at -2x; PSQ stays one-for-one.proshares.com
  • 0.95% net of a waiver through September 30, 2027 (0.96% gross), near the category median and the same net fee as -2x QID, also waived through September 30, 2027.
  • Among the most actively traded funds in the bear category, and one of the closest to its stated daily target in a peer group of 50-plus funds.

Worth knowing

  • EPV The -2x target is for a single day. The portfolio rebalances daily, and over longer holds compounding can push returns well away from twice the index move, in either direction.proshares.com
  • Europe closes before the US does. Because the index is not struck at the US close, ProShares measures the fund's daily correlation against US-listed European equity ETFs instead.proshares.com
  • A small, thinly traded fund, so the bid-ask spread can be a meaningful part of the cost of a round trip. Distributions come quarterly.
  • PSQ The -1x goal resets daily. Over weeks or months, compounding means results can differ from -1x the index's move across that stretch, especially in choppy markets.sec.gov
  • Cheap for this corner of the market, pricey next to a broad index fund. The fee accrues every day you hold it, hedge or trade.
  • It cuts one way: when the Nasdaq-100 rises on the day, PSQ is designed to fall roughly in step.

Full EPV profile⁠

Full PSQ profile⁠

EPV vs PSQ 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.

EPV vs PSQ Cost

Same expense ratio

$17,869

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

  • EPV 0.95%

    $17,869

  • PSQ 0.95%

    $17,869

$10,000
30 years

Cost over time

  • EPV 0.95%
  • PSQ 0.95%
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$5K$10K$15K$20K051015202530EPV $17,869PSQ $17,869

Year by year

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

Expense ratio

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

EPV 6th cheapest of 53 funds

PSQ 6th cheapest of 53 funds

EPV vs PSQ Dividends

Last 12 months to Nov 2, 2026
Yield (12M)
EPV 4.45%, better
PSQ 3.85%
Payout (12M)
EPV $0.82
PSQ $1.04
Last payment
EPV $0.23
PSQ $0.26
Ex-dividend
EPV Sep 23, 2026
PSQ Sep 23, 2026
Paid on
EPV Sep 29, 2026
PSQ Sep 29, 2026
Frequency
EPV Quarterly
PSQ Quarterly

Distribution history

Per share, 2017 to 2026, same scale for both

EPVQuarterly · 23 paymentsAll EPV payments⁠
One bar per payment. 23 payments from 2017 to 2026 YTD. Dec 26, 2018 $0.39; Mar 20, 2019 $0.32; Jun 25, 2019 $0.46; Sep 25, 2019 $0.35; Dec 24, 2019 $0.29; Mar 25, 2020 $0.0031; Dec 23, 2021 $0.0031; Dec 22, 2022 $0.21; Mar 22, 2023 $0.21; Jun 21, 2023 $0.31; Sep 20, 2023 $0.34; Dec 20, 2023 $0.50; Mar 20, 2024 $0.35; Jun 26, 2024 $0.52; Sep 25, 2024 $0.68; Dec 23, 2024 $0.46; Mar 26, 2025 $0.22; Jun 25, 2025 $0.24; Sep 24, 2025 $0.27; Dec 24, 2025 $0.31; Mar 25, 2026 $0.09; Jun 24, 2026 $0.18; Sep 23, 2026 $0.23. Use the arrow keys to read each point.$0$12017202020232026YTD
PSQQuarterly · 26 paymentsAll PSQ payments⁠
One bar per payment. 26 payments from 2017 to 2026 YTD. Dec 26, 2017 $0.03; Mar 21, 2018 $0.20; Jun 20, 2018 $0.39; Sep 26, 2018 $0.51; Dec 26, 2018 $0.53; Mar 20, 2019 $0.51; Jun 25, 2019 $0.66; Sep 25, 2019 $0.57; Dec 24, 2019 $0.41; Mar 25, 2020 $0.22; Dec 22, 2022 $0.25; Mar 22, 2023 $0.46; Jun 21, 2023 $0.72; Sep 20, 2023 $0.72; Dec 20, 2023 $0.95; Mar 20, 2024 $0.54; Jun 26, 2024 $0.76; Sep 25, 2024 $0.68; Dec 23, 2024 $0.70; Mar 26, 2025 $0.34; Jun 25, 2025 $0.40; Sep 24, 2025 $0.36; Dec 24, 2025 $0.40; Mar 25, 2026 $0.15; Jun 24, 2026 $0.23; Sep 23, 2026 $0.26. Use the arrow keys to read each point.$0$12017202020232026YTD

EPV vs PSQ Risk

Fall from peak · 5 years

  • EPV
  • PSQ
Nov 2, 2021 to Nov 2, 2026. Worst fall: EPV −81.2% · Aug 2026. Use the arrow keys to read each point.−80%−60%−40%−20%0%Nov 2021May 2024Nov 2026

Risk facts

VolatilityStd dev, 3 years
EPV 25.4%PSQ 16.8%, better
Return per unit of riskSharpe ratio, 3 years
EPV −1.34PSQ −1.33, better
Worst fallMax drawdown, 5 years
EPV −81.2%PSQ −61.5%, better
Market sensitivityBeta, 5 years
EPV −1.25PSQ −1.18

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