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EPV vs SVXY

ProShares UltraShort FTSE Europe

EPVCNYSE Arca

ProShares Short VIX Short-Term Futures ETF

SVXYBCboe

Overlap

Expense ratio

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

EPV0.95%SVXY0.95%

Avg volume · 30D

SVXY 93.3×the volume

EPV16KSVXY1.49M

10Y return · a year

SVXY +21.3pt

EPV−22.5%SVXY−1.2%

EPV vs SVXY Performance

Nov 2, 2021 – Nov 2, 2026

−61.4%EPV+92.6%SVXY

Nov 2, 2021 to Nov 2, 2026. EPV −61.4%. SVXY +92.6%. Use the arrow keys to read each point.0%50%Nov 2021May 2024Nov 2026
Expense ratio
EPV 0.95%
SVXY 0.95%
Fund size
EPV $11M
SVXY $201M
1Y total return
EPV −21.4%
SVXY +21.8%, better
Yield (12M)
EPV 4.45%
SVXY No data
Holdings
EPV 2
SVXY 1
Avg volume (30D)
EPV 16K sh
SVXY 1.49M sh, better
NAV per share
EPV $18.58
SVXY $60.51
52W range

ETF.net Grade

EPV: Cost 50, Risk 40, Mission not scored, Tradability 36, Holdings 55, Durability 54. SVXY: Cost 50, Risk 75, Mission not scored, Tradability 84, Holdings not scored, Durability 76.
Pillar letters and Scores for EPV, SVXY, with each pillar’s weight
PillarEPVSVXY
Cost30% weightC50C50
Mission25% weightNot scoredNot scored
Risk15% weightC40A75Higher
Tradability15% weightD36A84Higher
Holdings10% weightB55Not scored
Durability5% weightC54A76Higher

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 SVXY 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 ›

SVXY 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 4BRWMProShares Short Russell2000Score 63
  5. Rank 26CBTCZT-Rex 2X Inverse Bitcoin Daily Target ETFScore 46
  6. Rank 27CEPVProShares UltraShort FTSE EuropeScore 44
  7. Rank 27CSSGProShares UltraShort SemiconductorsScore 44

Our read on each fund

ETF.net Research

EPVCProShares UltraShort FTSE Europe

SVXYBProShares Short VIX Short-Term Futures ETF

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.

SVXY Short volatility, half dose. SVXY targets one-half the inverse of a VIX short-term futures index each day, a deliberately de-tuned take on the short-vol trade, and it has run that mandate since 2011.

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.

SVXY SVXY seeks daily results equal to one-half the inverse of the S&P 500 VIX Short-Term Futures Index. Its objective is measured daily, so returns over longer periods can differ from the stated daily target.

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
  • SVXY The half-strength design is the whole idea: a -0.5x daily target rather than full inverse, so a jump in VIX futures lands with half the force of a one-for-one short.proshares.com
  • 0.95% a year sits below the typical leveraged and inverse fund, and among that crowd this is one of the stronger implementations in its peer group.
  • Launched in 2011 and actively traded, so it has a long operating history and a working market for getting in and out.

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.
  • SVXY The objective resets daily. Hold longer and compounding takes over, so results over weeks or months can look nothing like half the inverse of the index.proshares.com
  • It is a commodity pool holding VIX futures, not a basket of stocks. Reporting and tax treatment follow different rules than a standard equity ETF.proshares.com
  • Pure price vehicle with no distribution stream, and volatility spikes arrive fast, which is exactly what a short-vol position is on the wrong side of.

Full EPV profile⁠

Full SVXY profile⁠

EPV vs SVXY 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 SVXY 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

  • SVXY 0.95%

    $17,869

$10,000
30 years

Cost over time

  • EPV 0.95%
  • SVXY 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 $17,869SVXY $17,869

Year by year

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

Expense ratio

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

EPV 6th cheapest of 53 funds

SVXY 6th cheapest of 53 funds

EPV vs SVXY Dividends

Last 12 months to Nov 2, 2026
Yield (12M)
EPV 4.45%
SVXY No data
Payout (12M)
EPV $0.82
SVXY None
Last payment
EPV $0.23
SVXY No data
Ex-dividend
EPV Sep 23, 2026
SVXY No data
Paid on
EPV Sep 29, 2026
SVXY No data
Frequency
EPV Quarterly
SVXY No data

Distribution history

Per share, 2018 to 2026, same scale for both

EPVQuarterly · 23 paymentsAll EPV payments⁠
One bar per payment. 23 payments from 2018 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$0.50202020232026YTD
SVXYAll SVXY payments⁠

No distribution history available.

EPV vs SVXY Risk

Fall from peak · 5 years

  • EPV
  • SVXY
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%, betterSVXY 26.5%
Return per unit of riskSharpe ratio, 3 years
EPV −1.34SVXY 0.42, better
Worst fallMax drawdown, 5 years
EPV −81.2%SVXY −46.4%, better
Market sensitivityBeta, 5 years
EPV −1.25SVXY 1.32

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