# EFU (ProShares UltraShort MSCI EAFE)

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

Three months to Sep 30, 2026: EFU returned −1.4% where its own daily promise gave −2.9%, 1.5 points over.

## Key facts

- EFU, what EFA did: +0.8%, as of Sep 30, 2026.
- EFU, what −2 times a day gives: −2.9%, as of Sep 30, 2026.
- EFU, what the fund returned: −1.4%, as of Sep 30, 2026.
- EFU, the fund itself added: +1.5 pts, as of Sep 30, 2026.
- EFU, net assets: $1m (issuer page, as of Sep 30, 2026).
- EFU, expense ratio: 0.95% (485BPOS XBRL, Sep 25, 2026).

## EFU over each window to Sep 30, 2026

| Window | Fund | EFA | -2x the move | Difference | EFA moved about |
| --- | --- | --- | --- | --- | --- |
| 1 month | +7.3% | −3.3% | +6.6% | +0.6 pts | 13% |
| 3 months | −1.4% | +0.8% | −1.7% | +0.3 pts | 13% |
| 6 months | −12.4% | +7.0% | −14.0% | +1.6 pts | 16% |
| 1 year | −23.5% | +15.1% | −30.1% | +6.6 pts | 16% |
| 3 years | −60.4% | +65.7% | −131.3% | +71.0 pts | 15% |
| Since launch | −97.0% | +200.6% | not meaningful over this window | not meaningful over this window | 18% |

## Every published field

| Field | Value | Source |
| --- | --- | --- |
| Sets out to return | -2 times the daily move of EFA, reset daily | ETFIQ |
| Multiple a holder actually got over the window | EFA moved +0.8% over this window, too little to read a multiple from | ETFIQ |
| Underlying | EFA | ETFIQ |
| Segment | sector or country, sector | ETFIQ |
| Net assets | $1m | 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 | 13% annualized | ETFIQ |

## Questions

### Did EFU return -2 times EFA?

Over the window to Sep 30, 2026, EFA moved +0.8% and EFU returned −1.4%. −2 times that move is −1.7%, so the fund came out 0.3 points ahead of it.

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

Because it resets daily. EFU 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, EFU, data as of Sep 30, 2026. https://etfiq.com/funds/efu
Free to use with attribution; the underlying files are at https://etfiq.com/data/.

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