# EUM (ProShares Short MSCI Emerging Markets)

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

Three months to Sep 11, 2026: EUM returned −1.0% where its own daily promise gave −2.3%, 1.4 points over.

## Key facts

- EUM, what EEM did: +0.4%, as of Sep 11, 2026.
- EUM, what −1 times a day gives: −2.3%, as of Sep 11, 2026.
- EUM, what the fund returned: −1.0%, as of Sep 11, 2026.
- EUM, the fund itself added: +1.4 pts, as of Sep 11, 2026.
- EUM, net assets: $10m (source, as filed for May 31, 2026).
- EUM, expense ratio: not read by ETFIQ, as of Sep 11, 2026.

## EUM over each window to Sep 11, 2026

| Window | Fund | EEM | -1x the move | Difference | EEM moved about |
| --- | --- | --- | --- | --- | --- |
| 1 month | −1.8% | +2.1% | −2.1% | +0.3 pts | 19% |
| 3 months | −1.0% | +0.4% | −0.4% | −0.5 pts | 28% |
| 6 months | −18.2% | +20.0% | −20.0% | +1.9 pts | 30% |
| 1 year | −24.5% | +32.3% | −32.3% | +7.8 pts | 25% |
| 3 years | −41.4% | +86.5% | −86.5% | +45.1 pts | 20% |
| Since launch | −75.7% | +124.6% | not meaningful over this window | not meaningful over this window | 22% |

## Every published field

| Field | Value | Source |
| --- | --- | --- |
| Sets out to return | -1 times the daily move of EEM, reset daily | ETFIQ |
| Multiple a holder actually got over the window | EEM moved +0.4% over this window, too little to read a multiple from | ETFIQ |
| Underlying | EEM | ETFIQ |
| Segment | sector or country, country | ETFIQ |
| Net assets | $10m | source, as filed for May 31, 2026 |
| Expense ratio | not read by ETFIQ | ETFIQ |
| Launched | Jan 4, 2010 | ETFIQ |
| Underlying volatility over the window | 28% annualized | ETFIQ |

## Questions

### Did EUM return -1 times EEM?

Over the window to Sep 11, 2026, EEM moved +0.4% and EUM returned −1.0%. 1 times that move is −0.4%, so the fund came out 0.5 points short of it.

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

Because it resets daily. EUM 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, EUM, data as of Sep 11, 2026. https://etfiq.com/funds/EUM
Free to use with attribution; the underlying files are at https://etfiq.com/data/.

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