{"url":"https://etfiq.com/compare/leverage/bzq-vs-ubr","section":"compare","title":"BZQ vs UBR: which held to its multiple? | ETFIQ","description":"BZQ sets out to return -2 times EWZ each day and UBR +2 times. Over the three months to Sep 30, 2026 they finished +0.2 pts and \u22122.5 pts away.","as_of":"Sep 30, 2026","structured_data":[{"@type":"FAQPage","mainEntity":[{"@type":"Question","name":"Which came closer to its stated multiple, BZQ or UBR?","acceptedAnswer":{"@type":"Answer","text":"Over the window to Sep 30, 2026, BZQ finished 0.2 points from what its multiple implies and UBR finished 2.5 points from its own, so BZQ came closer. Neither figure predicts the next window: it depends on how much the underlying moves about."}},{"@type":"Question","name":"Are BZQ and UBR levered on the same thing?","acceptedAnswer":{"@type":"Answer","text":"Yes. Both are levered on Brazil, BZQ at -2 times and UBR at +2 times the daily move."}},{"@type":"Question","name":"Which one decays faster, BZQ or UBR?","acceptedAnswer":{"@type":"Answer","text":"Decay follows how much the underlying moves about. Over this window BZQ\u2019s moved at 22% annualized and UBR\u2019s at 22%, so BZQ has the rougher ride and, at the same multiple, loses more to compounding."}},{"@type":"Question","name":"Can I hold BZQ or UBR for a year?","acceptedAnswer":{"@type":"Answer","text":"Both reset every day, so the multiple in the name applies to a single day and the daily results compound. Over a year the total is not the multiple times the year\u2019s move, and in a market that falls and comes back it is reliably less. ETFIQ makes no recommendation either way."}},{"@type":"Question","name":"Which is cheaper, BZQ or UBR?","acceptedAnswer":{"@type":"Answer","text":"BZQ charges 0.95% a year and UBR charges 0.95%, so BZQ is cheaper. Fees come from each fund's prospectus."}}]},{"@type":"BreadcrumbList","itemListElement":[{"@type":"ListItem","position":1,"name":"ETFIQ","item":"https://etfiq.com/"},{"@type":"ListItem","position":2,"name":"Leveraged ETFs","item":"https://etfiq.com/leverage/"},{"@type":"ListItem","position":3,"name":"BZQ vs UBR","item":"https://etfiq.com/compare/leverage/bzq-vs-ubr"}]},{"@type":"WebPage","name":"BZQ vs UBR: which held to its multiple?","description":"BZQ sets out to return -2 times EWZ each day and UBR +2 times. Over the three months to Sep 30, 2026 they finished +0.2 pts and \u22122.5 pts away.","url":"https://etfiq.com/compare/leverage/bzq-vs-ubr","dateModified":"2026-09-30","abstract":"Over three months against its own daily promise, BZQ finished 1.3 points over and UBR 1.9 points short.","publisher":{"@id":"https://etfiq.com/#org"},"isPartOf":{"@id":"https://etfiq.com/#website"},"speakable":{"@type":"SpeakableSpecification","cssSelector":[".verdict",".faq"]}},{"@type":"Dataset","name":"ETFIQ comparison of BZQ and UBR","description":"BZQ sets out to return -2 times EWZ each day and UBR +2 times. Over the three months to Sep 30, 2026 they finished +0.2 pts and \u22122.5 pts away.","dateModified":"2026-09-30","creator":{"@id":"https://etfiq.com/#org"},"isAccessibleForFree":true,"url":"https://etfiq.com/compare/leverage/bzq-vs-ubr","license":"https://etfiq.com/standards/","publisher":{"@id":"https://etfiq.com/#org"},"inLanguage":"en","creativeWorkStatus":"Published","distribution":[{"@type":"DataDownload","encodingFormat":"application/json","contentUrl":"https://etfiq.com/data/leverage.json"}],"variableMeasured":["Stated multiple","Underlying return","What the stated multiple implies","Fund total return","Difference against the label","Volatility of the underlying","Expense ratio"],"keywords":["exchange-traded funds","ETF","Leveraged ETFs","fund data","SEC filings"]}],"characters":6937,"truncated":true,"content":"ETFIQ / Leveraged ETFs / Head to head / BZQ vs UBR \n ETFIQ etfiq.com \u00b7 independent ETF data \n\n Data as of Sep 30, 2026 .\n\n BZQ vs UBR: which held to its multiple?\n\n Over three months against its own daily promise, BZQ finished 1.3 points over and UBR 1.9 points short.\n Copy this for sharing \n \n ProShares UltraShort MSCI Brazil Capped and ProShares Ultra MSCI Brazil Capped.\n\n Download as PDF \n\n \u221217.7% BZQ returned, 3 months \n +15.4% UBR returned, 3 months \n +0.2 pts BZQ from its stated multiple \n \u22122.5 pts UBR from its stated multiple \n\n ETFIQ Decay Resistance Score: UBR scores higher\n Did it ke","source":"ETFIQ, independent ETF data. Recomputed nightly from public filings and prices.","publisher":{"@id":"https://etfiq.com/#org","name":"ETFIQ","url":"https://etfiq.com"},"license":"https://etfiq.com/license/","citation":"ETFIQ, as of Sep 30, 2026. https://etfiq.com/compare/leverage/bzq-vs-ubr","a":{"ticker":"BZQ","name":"ProShares UltraShort MSCI Brazil Capped","issuer":"ProShares","desk":"leverage","as_of":"2026-09-30","verdict":"Three months to Sep 30, 2026: BZQ returned \u221217.7% where its own daily promise gave \u221219.0%, 1.3 points over.","url":"https://etfiq.com/funds/bzq","key_facts":[{"label":"What EWZ did","value":"+9.0%","as_of":"2026-09-30","source":null},{"label":"What \u22122 times a day gives","value":"\u221219.0%","as_of":"2026-09-30","source":null},{"label":"What the fund returned","value":"\u221217.7%","as_of":"2026-09-30","source":null},{"label":"The fund itself added","value":"+1.3 pts","as_of":"2026-09-30","source":null},{"label":"Net assets","value":"$3m","as_of":"2026-09-30","source":"issuer page, as of Sep 30, 2026"},{"label":"Expense ratio","value":"0.95%","as_of":"2026-09-30","source":"485BPOS XBRL, Sep 25, 2026"}]},"b":{"ticker":"UBR","name":"ProShares Ultra MSCI Brazil Capped","issuer":"ProShares","desk":"leverage","as_of":"2026-09-30","verdict":"Three months to Sep 30, 2026: UBR returned +15.4% where its own daily promise gave +17.3%, 1.9 points short.","url":"https://etfiq.com/funds/ubr","key_facts":[{"label":"What EWZ did","value":"+9.0%","as_of":"2026-09-30","source":null},{"label":"What 2 times a day gives","value":"+17.3%","as_of":"2026-09-30","source":null},{"label":"What the fund returned","value":"+15.4%","as_of":"2026-09-30","source":null},{"label":"The fund itself cost","value":"\u22121.9 pts","as_of":"2026-09-30","source":null},{"label":"Net assets","value":"$3m","as_of":"2026-09-30","source":"issuer page, as of Sep 30, 2026"},{"label":"Expense ratio","value":"0.95%","as_of":"2026-09-30","source":"485BPOS XBRL, Sep 25, 2026"}]},"overlap_pct":null,"overlap_note":"ETFIQ does not publish a holdings overlap for this pair. Either the funds are not compared on holdings, or one book is incomplete.","full_text_at":"https://etfiq.com/compare/leverage/bzq-vs-ubr"}