# REW (ProShares UltraShort Technology)

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

Three months to Sep 11, 2026: REW returned −7.2% where its own daily promise gave −9.8%, 2.6 points over.

## Key facts

- REW, what XLK did: +1.7%, as of Sep 11, 2026.
- REW, what −2 times a day gives: −9.8%, as of Sep 11, 2026.
- REW, what the fund returned: −7.2%, as of Sep 11, 2026.
- REW, the fund itself added: +2.6 pts, as of Sep 11, 2026.
- REW, net assets: $4m (issuer page, as of Sep 11, 2026).
- REW, expense ratio: 0.95% (485BPOS XBRL, Sep 23, 2025).

## REW over each window to Sep 11, 2026

| Window | Fund | XLK | -2x the move | Difference | XLK moved about |
| --- | --- | --- | --- | --- | --- |
| 1 month | +1.2% | −0.6% | +1.3% | −0.1 pts | 20% |
| 3 months | −7.2% | +1.7% | −3.3% | −3.8 pts | 30% |
| 6 months | −51.7% | +37.5% | −75.0% | +23.3 pts | 30% |
| 1 year | −53.9% | +39.2% | −78.4% | +24.5 pts | 26% |
| 3 years | −84.3% | +124.5% | not meaningful over this window | not meaningful over this window | 25% |
| Since launch | −100.0% | +1903.8% | not meaningful over this window | not meaningful over this window | 22% |

## Every published field

| Field | Value | Source |
| --- | --- | --- |
| Sets out to return | -2 times the daily move of XLK, reset daily | ETFIQ |
| Multiple a holder actually got over the window | XLK moved +1.7% over this window, too little to read a multiple from | ETFIQ |
| Underlying | XLK | ETFIQ |
| Segment | sector or country, sector | ETFIQ |
| Net assets | $4m | 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 | 30% annualized | ETFIQ |

## Questions

### Did REW return -2 times XLK?

Over the window to Sep 11, 2026, XLK moved +1.7% and REW returned −7.2%. 2 times that move is −3.3%, so the fund came out 3.8 points short of it.

### Why does REW not return -2 times over a year?

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

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