{"url":"https://etfiq.com/compare/leverage/efo-vs-efz","section":"compare","title":"EFO vs EFZ: which held to its multiple? | ETFIQ","description":"EFO sets out to return +2 times EFA each day and EFZ -1 times. Over the three months to Sep 30, 2026 they finished \u22121.9 pts and +0.7 pts away.","as_of":"Sep 30, 2026","structured_data":[{"@type":"FAQPage","mainEntity":[{"@type":"Question","name":"Which came closer to its stated multiple, EFO or EFZ?","acceptedAnswer":{"@type":"Answer","text":"Over the window to Sep 30, 2026, EFO finished 1.9 points from what its multiple implies and EFZ finished 0.7 points from its own, so EFZ came closer. Neither figure predicts the next window: it depends on how much the underlying moves about."}},{"@type":"Question","name":"Are EFO and EFZ levered on the same thing?","acceptedAnswer":{"@type":"Answer","text":"Yes. Both are levered on developed markets outside the US, EFO at +2 times and EFZ at -1 times the daily move."}},{"@type":"Question","name":"Which one decays faster, EFO or EFZ?","acceptedAnswer":{"@type":"Answer","text":"Decay follows how much the underlying moves about. Over this window EFO\u2019s moved at 13% annualized and EFZ\u2019s at 13%, so EFO has the rougher ride and, at the same multiple, loses more to compounding."}},{"@type":"Question","name":"Can I hold EFO or EFZ 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, EFO or EFZ?","acceptedAnswer":{"@type":"Answer","text":"EFO charges 0.95% a year and EFZ charges 0.95%, so EFO 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":"EFO vs EFZ","item":"https://etfiq.com/compare/leverage/efo-vs-efz"}]},{"@type":"WebPage","name":"EFO vs EFZ: which held to its multiple?","description":"EFO sets out to return +2 times EFA each day and EFZ -1 times. Over the three months to Sep 30, 2026 they finished \u22121.9 pts and +0.7 pts away.","url":"https://etfiq.com/compare/leverage/efo-vs-efz","dateModified":"2026-09-30","abstract":"Over three months against its own daily promise, EFO finished 1.5 points short and EFZ 1.1 points over.","publisher":{"@id":"https://etfiq.com/#org"},"isPartOf":{"@id":"https://etfiq.com/#website"},"speakable":{"@type":"SpeakableSpecification","cssSelector":[".verdict",".faq"]}},{"@type":"Dataset","name":"ETFIQ comparison of EFO and EFZ","description":"EFO sets out to return +2 times EFA each day and EFZ -1 times. Over the three months to Sep 30, 2026 they finished \u22121.9 pts and +0.7 pts away.","dateModified":"2026-09-30","creator":{"@id":"https://etfiq.com/#org"},"isAccessibleForFree":true,"url":"https://etfiq.com/compare/leverage/efo-vs-efz","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":6919,"truncated":true,"content":"ETFIQ / Leveraged ETFs / Head to head / EFO vs EFZ \n ETFIQ etfiq.com \u00b7 independent ETF data \n\n Data as of Sep 30, 2026 .\n\n EFO vs EFZ: which held to its multiple?\n\n Over three months against its own daily promise, EFO finished 1.5 points short and EFZ 1.1 points over.\n Copy this for sharing \n \n ProShares Ultra MSCI EAFE and ProShares Short MSCI EAFE.\n\n Download as PDF \n\n \u22120.3% EFO returned, 3 months \n \u22120.1% EFZ returned, 3 months \n \u22121.9 pts EFO from its stated multiple \n +0.7 pts EFZ from its stated multiple \n\n ETFIQ Decay Resistance Score: EFO scores higher\n Did it keep up with its own daily ","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/efo-vs-efz","a":{"ticker":"EFO","name":"ProShares Ultra MSCI EAFE","issuer":"ProShares","desk":"leverage","as_of":"2026-09-30","verdict":"Three months to Sep 30, 2026: EFO returned \u22120.3% where its own daily promise gave +1.3%, 1.5 points short.","url":"https://etfiq.com/funds/efo","key_facts":[{"label":"What EFA did","value":"+0.8%","as_of":"2026-09-30","source":null},{"label":"What 2 times a day gives","value":"+1.3%","as_of":"2026-09-30","source":null},{"label":"What the fund returned","value":"\u22120.3%","as_of":"2026-09-30","source":null},{"label":"The fund itself cost","value":"\u22121.5 pts","as_of":"2026-09-30","source":null},{"label":"Net assets","value":"$27m","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":"EFZ","name":"ProShares Short MSCI EAFE","issuer":"ProShares","desk":"leverage","as_of":"2026-09-30","verdict":"Three months to Sep 30, 2026: EFZ returned \u22120.1% where its own daily promise gave \u22121.3%, 1.1 points over.","url":"https://etfiq.com/funds/efz","key_facts":[{"label":"What EFA did","value":"+0.8%","as_of":"2026-09-30","source":null},{"label":"What \u22121 times a day gives","value":"\u22121.3%","as_of":"2026-09-30","source":null},{"label":"What the fund returned","value":"\u22120.1%","as_of":"2026-09-30","source":null},{"label":"The fund itself added","value":"+1.1 pts","as_of":"2026-09-30","source":null},{"label":"Net assets","value":"$10m","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/efo-vs-efz"}