# MVV (ProShares Ultra MidCap400)

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

Three months to Sep 11, 2026: MVV returned −5.4% where its own daily promise gave −4.2%, 1.2 points short.

## Key facts

- MVV, what MDY did: −1.9%, as of Sep 11, 2026.
- MVV, what +2 times a day gives: −4.2%, as of Sep 11, 2026.
- MVV, what the fund returned: −5.4%, as of Sep 11, 2026.
- MVV, the fund itself cost: −1.2 pts, as of Sep 11, 2026.
- MVV, net assets: $148m (issuer page, as of Sep 11, 2026).
- MVV, expense ratio: 0.95% (485BPOS XBRL, Sep 23, 2025).

## MVV over each window to Sep 11, 2026

| Window | Fund | MDY | +2x the move | Difference | MDY moved about |
| --- | --- | --- | --- | --- | --- |
| 1 month | −9.7% | −4.6% | −9.3% | −0.4 pts | 11% |
| 3 months | −5.4% | −1.9% | −3.9% | −1.5 pts | 12% |
| 6 months | +20.3% | +11.6% | +23.3% | −2.9 pts | 15% |
| 1 year | +18.5% | +13.0% | +26.0% | −7.5 pts | 15% |
| 3 years | +68.8% | +49.2% | +98.4% | −29.6 pts | 18% |
| Since launch | +1148.2% | +520.9% | not meaningful over this window | not meaningful over this window | 20% |

## Every published field

| Field | Value | Source |
| --- | --- | --- |
| Sets out to return | +2 times the daily move of MDY, reset daily | ETFIQ |
| Multiple a holder actually got over the window | MDY moved −1.9% over this window, too little to read a multiple from | ETFIQ |
| Underlying | MDY | ETFIQ |
| Segment | broad index, us mid cap | ETFIQ |
| Net assets | $148m | issuer page, as of Sep 11, 2026 |
| Expense ratio | 0.95% | 485BPOS XBRL, Sep 23, 2025 |
| Launched | Jan 4, 2010 | ETFIQ |
| Underlying volatility over the window | 12% annualized | ETFIQ |

## Questions

### Did MVV return +2 times MDY?

Over the window to Sep 11, 2026, MDY moved −1.9% and MVV returned −5.4%. 2 times that move is −3.9%, so the fund came out 1.5 points short of it.

### Why does MVV not return +2 times over a year?

Because it resets daily. MVV aims at +2 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 +2 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, MVV, data as of Sep 11, 2026. https://etfiq.com/funds/MVV
Free to use with attribution; the underlying files are at https://etfiq.com/data/.

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