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EUO vs PSQ

ProShares UltraShort Euro

EUOBNYSE Arca

ProShares Short QQQ

PSQBNYSE Arca

Overlap

0.0%by weight

Expense ratio

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

EUO0.95%PSQ0.95%

Avg volume · 30D

PSQ 587.4×the volume

EUO22.6KPSQ13.3M

10Y return · a year

EUO +21.0pt

EUO+2.9%PSQ−18.1%

EUO vs PSQ Performance

Nov 3, 2021 – Nov 3, 2026

+31.0%EUO−41.1%PSQ

Nov 3, 2021 to Nov 3, 2026. EUO +31.0%. PSQ −41.1%. Use the arrow keys to read each point.−20%0%20%Nov 2021May 2024Nov 2026
Expense ratio
EUO 0.95%
PSQ 0.95%
Fund size
EUO $45M
PSQ $688M
1Y total return
EUO +11.0%, better
PSQ −5.8%
Yield (12M)
EUO No data
PSQ 3.87%
Holdings
EUO 1
PSQ 4
Avg volume (30D)
EUO 22.6K sh
PSQ 13.3M sh, better
NAV per share
EUO $32.48
PSQ $26.84
52W range

ETF.net Grade

EUO: Cost 50, Risk 94, Mission not scored, Tradability 50, Holdings not scored, Durability 67. PSQ: Cost 50, Risk 60, Mission 98, Tradability 98, Holdings 55, Durability 72.
Pillar letters and Scores for EUO, PSQ, with each pillar’s weight
PillarEUOPSQ
Cost30% weightC50C50
Mission25% weightNot scoredA98
Risk15% weightA94HigherB60
Tradability15% weightC50A98Higher
Holdings10% weightNot scoredB55
Durability5% weightB67A72Higher

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. EUO 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 EUO 7th 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 5BYCSProShares UltraShort YenScore 62
  5. Rank 7BEUOProShares UltraShort EuroScore 61
  6. Rank 8BDXDProShares UltraShort Dow30Score 59

Our read on each fund

ETF.net Research

EUOBProShares UltraShort Euro

PSQBProShares Short QQQ

In short

EUO A single-purpose dollar-versus-euro tool: EUO aims to deliver twice the inverse of the euro's daily move against the dollar. Live since 2008, and priced under the typical leveraged or inverse fund.

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

EUO EUO seeks daily results, before fees and expenses, intended to deliver twice the inverse of the euro's daily price performance against the U.S. dollar.

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

  • EUO Aims for twice the inverse of the euro's daily move against the dollar, turning an FX view into an ordinary brokerage trade.proshares.com
  • 0.95% expense ratio, below the median for leveraged and inverse funds.
  • Running since 2008 on the same daily double-inverse euro mandate.
  • One of the stronger builds in its leveraged and inverse peer group, alongside ProShares' yen counterpart YCS.
  • 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

  • EUO The 2x resets daily. Hold longer and compounding takes over, so results over a stretch can diverge from twice the euro's move for that stretch.
  • A small, thinly traded fund, so spreads can widen. Limit orders matter more here than on a headline ETF.
  • Structured as a commodity pool rather than a standard stock fund, and it isn't built as an income payer.
  • 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 EUO profile⁠

Full PSQ profile⁠

EUO vs PSQ Holdings

How EUO and PSQ differ

Overlap by weight

0.0%

Shared holdings make up 0.0% of EUO and 0.0% of PSQ.

Level by level

  • Asset classAlternatives, Equity0.0%
  • Holdings0 in both0.0%

Sector

No Sector split for EUO.

Country, concentration and asset class

Country by domicile

No country split for EUO.

Concentration

Weight in the 10 largest Holdings

  • EUO100.0%
  • PSQ110.7%

Securities held

  • EUO0
  • PSQ4

Asset class

EUO
Alternatives
PSQ
Equity

Holdings

  • Only in EUO0
  • In both0
  • Only in PSQ4

Only in EUO

0 securities, 0.0% of EUO by weight

Only in PSQ

4 securities, 100% of PSQ by weight

  • Proshares Genius Mny Mkt Etf71.18%
  • TREASURY BILL, 0%, due 2026-12-1017.27%
  • TREASURY BILL, 0%, due 2026-12-2917.23%

Weight gaps

EUO and PSQ share no securities.

All 3 EUO 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.

EUO vs PSQ Cost

Same expense ratio

$17,869

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

  • EUO 0.95%

    $17,869

  • PSQ 0.95%

    $17,869

$10,000
30 years

Cost over time

  • EUO 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$20K051015202530EUO $17,869PSQ $17,869

Year by year

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

Expense ratio

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

EUO 6th cheapest of 53 funds

PSQ 6th cheapest of 53 funds

EUO vs PSQ Dividends

Last 12 months to Nov 3, 2026
Yield (12M)
EUO No data
PSQ 3.87%
Payout (12M)
EUO None
PSQ $1.04
Last payment
EUO No data
PSQ $0.26
Ex-dividend
EUO No data
PSQ Sep 23, 2026
Paid on
EUO No data
PSQ Sep 29, 2026
Frequency
EUO No data
PSQ Quarterly

Distribution history

Per share, 2017 to 2026, same scale for both

EUOAll EUO payments⁠

No distribution history available.

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

EUO vs PSQ Risk

Fall from peak · 5 years

  • EUO
  • PSQ
Nov 3, 2021 to Nov 3, 2026. Worst fall: PSQ −61.5% · Oct 2026. Use the arrow keys to read each point.−60%−40%−20%0%Nov 2021May 2024Nov 2026

Risk facts

VolatilityStd dev, 3 years
EUO 13.9%, betterPSQ 16.8%
Return per unit of riskSharpe ratio, 3 years
EUO −0.17, betterPSQ −1.33
Worst fallMax drawdown, 5 years
EUO −25.3%, betterPSQ −61.5%
Market sensitivityBeta, 5 years
EUO −0.35PSQ −1.19

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