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EUO vs SVXY

ProShares UltraShort Euro

EUOBNYSE 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.

EUO0.95%SVXY0.95%

Avg volume · 30D

SVXY 66.3×the volume

EUO22.6KSVXY1.5M

10Y return · a year

EUO +3.4pt

EUO+2.9%SVXY−0.5%

EUO vs SVXY Performance

Nov 3, 2021 – Nov 3, 2026

+31.0%EUO+91.3%SVXY

Nov 3, 2021 to Nov 3, 2026. EUO +31.0%. SVXY +91.3%. Use the arrow keys to read each point.−25%0%50%75%Nov 2021May 2024Nov 2026
Expense ratio
EUO 0.95%
SVXY 0.95%
Fund size
EUO $45M
SVXY $197M
1Y total return
EUO +11.0%
SVXY +22.5%, better
Holdings
EUO 1
SVXY 1
Avg volume (30D)
EUO 22.6K sh
SVXY 1.5M sh, better
NAV per share
EUO $32.48
SVXY $61.11
52W range

ETF.net Grade

EUO: Cost 50, Risk 94, Mission not scored, Tradability 50, Holdings not scored, Durability 67. SVXY: Cost 50, Risk 75, Mission not scored, Tradability 83, Holdings not scored, Durability 76.
Pillar letters and Scores for EUO, SVXY, with each pillar’s weight
PillarEUOSVXY
Cost30% weightC50C50
Mission25% weightNot scoredNot scored
Risk15% weightA94HigherA75
Tradability15% weightC50A83Higher
Holdings10% weightNot scoredNot scored
Durability5% weightB67A76Higher

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 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 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 4BRWMProShares Short Russell2000Score 63
  5. Rank 5BYCSProShares UltraShort YenScore 62
  6. Rank 7BEUOProShares UltraShort EuroScore 61
  7. Rank 8BDXDProShares UltraShort Dow30Score 59

Our read on each fund

ETF.net Research

EUOBProShares UltraShort Euro

SVXYBProShares Short VIX Short-Term Futures ETF

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.

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

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.

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

  • 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.
  • 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

  • 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.
  • 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 EUO profile⁠

Full SVXY profile⁠

EUO 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.

EUO vs SVXY 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

  • SVXY 0.95%

    $17,869

$10,000
30 years

Cost over time

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

Year by year

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

Expense ratio

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

EUO 6th cheapest of 53 funds

SVXY 6th cheapest of 53 funds

EUO vs SVXY Dividends

Last 12 months to Nov 3, 2026
Payout (12M)
EUO None
SVXY None

Distribution history

EUOAll EUO payments⁠

No distribution history available.

SVXYAll SVXY payments⁠

No distribution history available.

EUO vs SVXY Risk

Fall from peak · 5 years

  • EUO
  • SVXY
Nov 3, 2021 to Nov 3, 2026. Worst fall: SVXY −46.4% · Apr 2025. Use the arrow keys to read each point.−40%−30%−20%−10%0%Nov 2021May 2024Nov 2026

Risk facts

VolatilityStd dev, 3 years
EUO 13.9%, betterSVXY 26.5%
Return per unit of riskSharpe ratio, 3 years
EUO −0.17SVXY 0.42, better
Worst fallMax drawdown, 5 years
EUO −25.3%, betterSVXY −46.4%
Market sensitivityBeta, 5 years
EUO −0.35SVXY 1.32

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