EUM vs PSQ: Grades, Fees and Holdings Compared

ProShares Short MSCI Emerging Markets

EUMBNYSE Arca

ProShares Short QQQ

PSQBNYSE Arca

Overlap

74.1%by weight

Expense ratio

EUM0.95%PSQ0.95%

Avg volume · 30D

PSQ 130.4×the volume

EUM99.6KPSQ13M

10Y return · a year

EUM +9.8pt

EUM−8.2%PSQ−18.0%

EUM vs PSQ Performance

Oct 29, 2021 – Oct 30, 2026

−20.2%EUM−42.7%PSQ

Expense ratio: EUM 0.95%; PSQ 0.95%
Fund size: EUM $15M; PSQ $611M
1Y total return: EUM −12.0%; PSQ −7.0%, better
Yield (12M): EUM 3.33%; PSQ 3.90%, better
Holdings: EUM 2; PSQ 4
Avg volume (30D): EUM 99.6K sh; PSQ 13M sh, better
NAV per share: EUM $17.21; PSQ $26.64
52W range

ETF.net Grade

Pillar letters and Scores for EUM, PSQ, with each pillar’s weight
Pillar	EUM	PSQ
Cost30% weight	C50	C50
Mission25% weight	Not scored	A98
Risk15% weight	B65Higher	B59
Tradability15% weight	A74	A98Higher
Holdings10% weight	B63Higher	B55
Durability5% weight	B57	A72Higher

Rank among Leveraged Inverse (2x & Other) funds

How we build Categories ›

Same Category. EUM 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 3rd and EUM 8th of 53 funds in the Leveraged Inverse (2x & Other) Category.

Rank 1BDOGProShares Short Dow30Score 65
Rank 1BSVXYProShares Short VIX Short-Term Futures ETFScore 65
Rank 3BPSQProShares Short QQQScore 64
Rank 4BRWMProShares Short Russell2000Score 63
Rank 7BEUOProShares UltraShort EuroScore 61
Rank 8BEUMProShares Short MSCI Emerging MarketsScore 59
Rank 8BREKProShares Short Real EstateScore 59

Our read on each fund

ETF.net Research

EUMBProShares Short MSCI Emerging Markets

PSQBProShares Short QQQ

In short

EUM The only US ETF built to track the MSCI Emerging Markets Index upside down, one-for-one, one day at a time. Its ProShares sibling doubles the move; this one keeps it at -1x. Fee: 0.95%, net of a waiver through September 30, 2027.

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

EUM The Fund seeks daily investment results, before fees and expenses, that correspond to the inverse performance of the MSCI Emerging Markets 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

EUM ProShares bills it as the only -1x ETF designed to profit when the MSCI Emerging Markets Index falls on the day. The leveraged sibling EEV targets -2x the same index.proshares.com proshares.com 2
Short emerging markets from a plain brokerage account: no margin, no stock borrow, one ticker.proshares.com
0.95% net of a waiver through September 30, 2027 (1.75% gross), near the typical leveraged-and-inverse fee and level with ProShares siblings DOG and PSQ at 0.95%.
Running since 2007, and one of the stronger implementations in the inverse and leveraged group, with trading deep enough for everyday order sizes.

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

EUM The mandate resets daily. Hold past a day and compounding takes over, so results can drift well away from -1x, especially in choppy markets.proshares.com
If the waiver lapses after September 30, 2027, the sticker fee reverts toward the 1.75% gross ratio.
A small fund by ETF standards and moderately traded rather than deeply liquid, so spreads are worth a glance before you trade.

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 EUM profile⁠

Full PSQ profile⁠

EUM vs PSQ Holdings

How EUM and PSQ differ

Overlap by weight

74.1%

Shared holdings make up 84.1% of EUM and 74.1% of PSQ.

Level by level

Holdings1 in both74.1%
Asset classEquity100%
Countryby domicile100%
Sector1 Sector100%

Sector

Sector weights in EUM and PSQ, widest gap first
Sector	More in EUMMore in PSQ	EUM	PSQ
Financials	Same weight	100.0%	100.0%

Country, concentration and asset class

Country by domicile

Country weights in EUM and PSQ, widest gap first
Country	More in EUMMore in PSQ	EUM	PSQ
United States	Same weight	100.0%	100.0%

Concentration

Weight in the 10 largest Holdings

EUM100.0%
PSQ115.2%

Securities held

EUM1
PSQ4

Asset class

EUM: Equity
PSQ: Equity

Holdings

Only in EUM0
In both1
Only in PSQ3

Only in EUM

0 securities, 0.0% of EUM by weight

Only in PSQ

3 securities, 41.1% of PSQ by weight

TREASURY BILL, 0%, due 2026-12-1017.97%
TREASURY BILL, 0%, due 2026-12-2917.93%
TREASURY BILL, 0%, due 2026-11-175.25%

Weight gaps

All 1 Holdings in both funds, largest gap first.

Holding weights in EUM and PSQ, widest gap first
Holding	More in EUMMore in PSQ	EUM	PSQ
Proshares Genius Mny Mkt EtfIQMM	EUM +10.01 points	84.07%	74.06%

All 9 EUM holdings⁠All 17 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.

EUM vs PSQ Cost

Same expense ratio

$17,869

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

EUM 0.95%
$17,869
PSQ 0.95%
$17,869

Amount$10,000

Years30 years

Cost over time

EUM 0.95%
PSQ 0.95%

Year by year

Year	EUM	PSQ
10	$1,678	$1,678
20	$6,322	$6,322
30	$17,869	$17,869

Expense ratio

0.95%EUM
0.95%PSQ

EUM0.95%PSQ0.95%

0.50%1.47%

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

EUM 6th cheapest of 53 funds

PSQ 6th cheapest of 53 funds

EUM vs PSQ Dividends

Last 12 months to Oct 30, 2026

Yield (12M): EUM 3.33%; PSQ 3.90%, better
Payout (12M): EUM $0.57; PSQ $1.04
Last payment: EUM $0.13; PSQ $0.26
Ex-dividend: EUM Sep 23, 2026; PSQ Sep 23, 2026
Paid on: EUM Sep 29, 2026; PSQ Sep 29, 2026
Frequency: EUM Quarterly; PSQ Quarterly

Distribution history

Per share, 2017 to 2026, same scale for both

EUMQuarterly · 25 paymentsAll EUM payments⁠

PSQQuarterly · 26 paymentsAll PSQ payments⁠

EUM vs PSQ Risk

Fall from peak · 5 years

Risk facts

VolatilityStd dev, 3 years: EUM 15.7%, betterPSQ 16.8%
Return per unit of riskSharpe ratio, 3 years: EUM −1.26, betterPSQ −1.33
Worst fallMax drawdown, 5 years: EUM −50.9%, betterPSQ −61.5%
Market sensitivityBeta, 5 years: EUM −0.72PSQ −1.18; Market = 1

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