# DUG (ProShares UltraShort Energy)

ProShares · Leveraged ETFs · data as of Sep 30, 2026

Three months to Sep 30, 2026: DUG returned −28.0% where its own daily promise gave −29.7%, 1.7 points over.

## Key facts

- DUG, what XLE did: +17.2%, as of Sep 30, 2026.
- DUG, what −2 times a day gives: −29.7%, as of Sep 30, 2026.
- DUG, what the fund returned: −28.0%, as of Sep 30, 2026.
- DUG, the fund itself added: +1.7 pts, as of Sep 30, 2026.
- DUG, net assets: $40m (issuer page, as of Sep 30, 2026).
- DUG, expense ratio: 0.95% (485BPOS XBRL, Sep 25, 2026).

## DUG over each window to Sep 30, 2026

| Window | Fund | XLE | -2x the move | Difference | XLE moved about |
| --- | --- | --- | --- | --- | --- |
| 1 month | +6.7% | −3.3% | +6.5% | +0.1 pts | 18% |
| 3 months | −28.0% | +17.2% | −34.3% | +6.3 pts | 21% |
| 6 months | −13.2% | +5.7% | −11.3% | −1.8 pts | 23% |
| 1 year | −52.3% | +41.6% | −83.2% | +30.9 pts | 22% |
| 3 years | −57.9% | +49.5% | −99.1% | +41.2 pts | 22% |
| Since launch | −99.6% | +261.2% | not meaningful over this window | not meaningful over this window | 27% |

## Every published field

| Field | Value | Source |
| --- | --- | --- |
| Sets out to return | -2 times the daily move of XLE, reset daily | ETFIQ |
| Multiple a holder actually got over the window | -1.63 times, against -2 stated | ETFIQ |
| Underlying | XLE | ETFIQ |
| Segment | sector or country, sector | ETFIQ |
| Net assets | $40m | issuer page, as of Sep 30, 2026 |
| Expense ratio | 0.95% | 485BPOS XBRL, Sep 25, 2026 |
| Launched | Jan 4, 2010 | ETFIQ |
| Underlying volatility over the window | 21% annualized | ETFIQ |

## Questions

### Did DUG return -2 times XLE?

Over the window to Sep 30, 2026, XLE moved +17.2% and DUG returned −28.0%. −2 times that move is −34.3%, so the fund came out 6.3 points ahead of it.

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

Because it resets daily. DUG 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.

### Which -2x XLE ETF tracked its stated multiple most closely?

2 issuers sell one. Over the days all of them have been trading, the table on this page ranks them by how far each finished from −2 times the underlying's move. ETFIQ does not rate funds; the order is the figure itself.


## Cite this page

ETFIQ, DUG, data as of Sep 30, 2026. https://etfiq.com/funds/dug
Free to use with attribution; the underlying files are at https://etfiq.com/data/.

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