# SKF (ProShares UltraShort Financials)

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

Three months to Sep 11, 2026: SKF returned −12.5% where its own daily promise gave −14.8%, 2.3 points over.

## Key facts

- SKF, what XLF did: +7.7%, as of Sep 11, 2026.
- SKF, what −2 times a day gives: −14.8%, as of Sep 11, 2026.
- SKF, what the fund returned: −12.5%, as of Sep 11, 2026.
- SKF, the fund itself added: +2.3 pts, as of Sep 11, 2026.
- SKF, net assets: $11m (issuer page, as of Sep 11, 2026).
- SKF, expense ratio: 0.95% (485BPOS XBRL, Sep 23, 2025).

## SKF over each window to Sep 11, 2026

| Window | Fund | XLF | -2x the move | Difference | XLF moved about |
| --- | --- | --- | --- | --- | --- |
| 1 month | +2.9% | −1.2% | +2.3% | +0.5 pts | 13% |
| 3 months | −12.5% | +7.7% | −15.4% | +2.9 pts | 13% |
| 6 months | −26.8% | +18.1% | −36.2% | +9.4 pts | 14% |
| 1 year | −10.0% | +7.6% | −15.2% | +5.2 pts | 14% |
| 3 years | −62.0% | +73.0% | −146.0% | +84.0 pts | 16% |
| Since launch | −99.5% | +543.0% | 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 XLF, reset daily | ETFIQ |
| Multiple a holder actually got over the window | -1.63 times, against -2 stated | ETFIQ |
| Underlying | XLF | ETFIQ |
| Segment | sector or country, sector | ETFIQ |
| Net assets | $11m | 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 | 13% annualized | ETFIQ |

## Questions

### Did SKF return -2 times XLF?

Over the window to Sep 11, 2026, XLF moved +7.7% and SKF returned −12.5%. 2 times that move is −15.4%, so the fund came out 2.9 points ahead of it.

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

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

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