# EFZ (ProShares Short MSCI EAFE)

ProShares · Leveraged ETFs · data as of Sep 11, 2026

Three months to Sep 11, 2026: EFZ returned −2.2% where its own daily promise gave −3.5%, 1.3 points over.

## Key facts

- EFZ, what EFA did: +3.2%, as of Sep 11, 2026.
- EFZ, what −1 times a day gives: −3.5%, as of Sep 11, 2026.
- EFZ, what the fund returned: −2.2%, as of Sep 11, 2026.
- EFZ, the fund itself added: +1.3 pts, as of Sep 11, 2026.
- EFZ, net assets: $12m (source, as filed for May 31, 2026).
- EFZ, expense ratio: not read by ETFIQ, as of Sep 11, 2026.

## EFZ over each window to Sep 11, 2026

| Window | Fund | EFA | -1x the move | Difference | EFA moved about |
| --- | --- | --- | --- | --- | --- |
| 1 month | +2.4% | −1.7% | +1.7% | +0.7 pts | 10% |
| 3 months | −2.2% | +3.2% | −3.2% | +1.0 pts | 13% |
| 6 months | −10.1% | +12.5% | −12.5% | +2.4 pts | 18% |
| 1 year | −12.8% | +18.2% | −18.2% | +5.4 pts | 16% |
| 3 years | −30.5% | +65.5% | −65.5% | +35.1 pts | 15% |
| Since launch | −76.2% | +208.8% | not meaningful over this window | not meaningful over this window | 18% |

## Every published field

| Field | Value | Source |
| --- | --- | --- |
| Sets out to return | -1 times the daily move of EFA, reset daily | ETFIQ |
| Multiple a holder actually got over the window | EFA moved +3.2% over this window, too little to read a multiple from | ETFIQ |
| Underlying | EFA | ETFIQ |
| Segment | sector or country, sector | ETFIQ |
| Net assets | $12m | source, as filed for May 31, 2026 |
| Expense ratio | not read by ETFIQ | ETFIQ |
| Launched | Jan 4, 2010 | ETFIQ |
| Underlying volatility over the window | 13% annualized | ETFIQ |

## Questions

### Did EFZ return -1 times EFA?

Over the window to Sep 11, 2026, EFA moved +3.2% and EFZ returned −2.2%. 1 times that move is −3.2%, so the fund came out 1.0 points ahead of it.

### Why does EFZ not return -1 times over a year?

Because it resets daily. EFZ aims at -1 times each day's move, and daily results compound. Over a run where the underlying falls and comes back, compounding a levered daily return leaves a holder behind what -1 times the period move would suggest; over a steady run in one direction it can leave them ahead. The longer the holding, and the more the underlying moves about, the further apart the two figures get.


## Cite this page

ETFIQ, EFZ, data as of Sep 11, 2026. https://etfiq.com/funds/EFZ
Free to use with attribution; the underlying files are at https://etfiq.com/data/.

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