# URE (ProShares Ultra Real Estate)

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

Three months to Sep 11, 2026: URE returned −8.6% where its own daily promise gave −6.4%, 2.2 points short.

## Key facts

- URE, what IYR did: −3.0%, as of Sep 11, 2026.
- URE, what +2 times a day gives: −6.4%, as of Sep 11, 2026.
- URE, what the fund returned: −8.6%, as of Sep 11, 2026.
- URE, the fund itself cost: −2.2 pts, as of Sep 11, 2026.
- URE, net assets: $53m (issuer page, as of Sep 11, 2026).
- URE, expense ratio: 0.95% (485BPOS XBRL, Sep 23, 2025).

## URE over each window to Sep 11, 2026

| Window | Fund | IYR | +2x the move | Difference | IYR moved about |
| --- | --- | --- | --- | --- | --- |
| 1 month | −5.1% | −2.7% | −5.3% | +0.2 pts | 11% |
| 3 months | −8.6% | −3.0% | −6.0% | −2.6 pts | 14% |
| 6 months | +4.5% | +4.1% | +8.3% | −3.8 pts | 15% |
| 1 year | +3.0% | +4.7% | +9.5% | −6.4 pts | 14% |
| 3 years | +30.4% | +29.0% | +58.1% | −27.7 pts | 17% |
| Since launch | +373.0% | +278.6% | 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 IYR, reset daily | ETFIQ |
| Multiple a holder actually got over the window | IYR moved −3.0% over this window, too little to read a multiple from | ETFIQ |
| Underlying | IYR | ETFIQ |
| Segment | sector or country, sector | ETFIQ |
| Net assets | $53m | 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 | 14% annualized | ETFIQ |

## Questions

### Did URE return +2 times IYR?

Over the window to Sep 11, 2026, IYR moved −3.0% and URE returned −8.6%. 2 times that move is −6.0%, so the fund came out 2.6 points short of it.

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

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

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