{
 "ticker": "FXP",
 "name": "ProShares UltraShort FTSE China 50",
 "issuer": "ProShares",
 "desk": "leverage",
 "url": "https://etfiq.com/funds/fxp",
 "html": "https://etfiq.com/funds/fxp",
 "markdown": "https://etfiq.com/funds/fxp.md",
 "as_of": "2026-09-30",
 "verdict": "Three months to Sep 30, 2026: FXP returned \u221210.8% where its own daily promise gave \u221213.7%, 2.8 points over.",
 "key_facts": [
  {
   "key": "what_fxi_did",
   "label": "What FXI did",
   "value": "+6.4%",
   "source": null,
   "as_of": "2026-09-30",
   "sentence": "FXP, what FXI did: +6.4%, as of Sep 30, 2026."
  },
  {
   "key": "what_2_times_a_day_gives",
   "label": "What \u22122 times a day gives",
   "value": "\u221213.7%",
   "source": null,
   "as_of": "2026-09-30",
   "sentence": "FXP, what \u22122 times a day gives: \u221213.7%, as of Sep 30, 2026."
  },
  {
   "key": "what_the_fund_returned",
   "label": "What the fund returned",
   "value": "\u221210.8%",
   "source": null,
   "as_of": "2026-09-30",
   "sentence": "FXP, what the fund returned: \u221210.8%, as of Sep 30, 2026."
  },
  {
   "key": "the_fund_itself_added",
   "label": "The fund itself added",
   "value": "+2.8 pts",
   "source": null,
   "as_of": "2026-09-30",
   "sentence": "FXP, the fund itself added: +2.8 pts, as of Sep 30, 2026."
  },
  {
   "key": "net_assets",
   "label": "Net assets",
   "value": "$6m",
   "source": "issuer page, as of Sep 30, 2026",
   "as_of": "2026-09-30",
   "sentence": "FXP, net assets: $6m (issuer page, as of Sep 30, 2026)."
  },
  {
   "key": "expense_ratio",
   "label": "Expense ratio",
   "value": "0.95%",
   "source": "485BPOS XBRL, Sep 25, 2026",
   "as_of": "2026-09-30",
   "sentence": "FXP, expense ratio: 0.95% (485BPOS XBRL, Sep 25, 2026)."
  }
 ],
 "fields": [
  {
   "key": "sets_out_to_return",
   "label": "Sets out to return",
   "value": "-2 times the daily move of FXI, reset daily",
   "source": null
  },
  {
   "key": "multiple_a_holder_actually_got_over_the_window",
   "label": "Multiple a holder actually got over the window",
   "value": "-1.69 times, against -2 stated",
   "source": "ETFIQ"
  },
  {
   "key": "underlying",
   "label": "Underlying",
   "value": "FXI",
   "source": null
  },
  {
   "key": "segment",
   "label": "Segment",
   "value": "sector or country, country",
   "source": null
  },
  {
   "key": "net_assets",
   "label": "Net assets",
   "value": "$6m",
   "source": "issuer page, as of Sep 30, 2026"
  },
  {
   "key": "expense_ratio",
   "label": "Expense ratio",
   "value": "0.95%",
   "source": "485BPOS XBRL, Sep 25, 2026"
  },
  {
   "key": "launched",
   "label": "Launched",
   "value": "Jan 4, 2010",
   "source": null
  },
  {
   "key": "underlying_volatility_over_the_window",
   "label": "Underlying volatility over the window",
   "value": "17% annualized",
   "source": "ETFIQ"
  }
 ],
 "periods": [
  {
   "window": "1 month",
   "Fund": "+8.8%",
   "FXI": "\u22123.8%",
   "-2x the move": "+7.6%",
   "Difference": "+1.2 pts",
   "FXI moved about": "17%"
  },
  {
   "window": "3 months",
   "Fund": "\u221210.8%",
   "FXI": "+6.4%",
   "-2x the move": "\u221212.8%",
   "Difference": "+2.0 pts",
   "FXI moved about": "17%"
  },
  {
   "window": "6 months",
   "Fund": "+7.1%",
   "FXI": "\u22123.6%",
   "-2x the move": "+7.2%",
   "Difference": "\u22120.1 pts",
   "FXI moved about": "18%"
  },
  {
   "window": "1 year",
   "Fund": "+37.1%",
   "FXI": "\u221215.8%",
   "-2x the move": "+31.5%",
   "Difference": "+5.6 pts",
   "FXI moved about": "20%"
  },
  {
   "window": "3 years",
   "Fund": "\u221264.1%",
   "FXI": "+38.4%",
   "-2x the move": "\u221276.7%",
   "Difference": "+12.6 pts",
   "FXI moved about": "27%"
  },
  {
   "window": "Since launch",
   "Fund": "\u221298.0%",
   "FXI": "+16.9%",
   "-2x the move": "\u221233.8%",
   "Difference": "\u221264.2 pts",
   "FXI moved about": "27%"
  }
 ],
 "questions": [
  {
   "q": "Did FXP return -2 times FXI?",
   "a": "Over the window to Sep 30, 2026, FXI moved +6.4% and FXP returned \u221210.8%. \u22122 times that move is \u221212.8%, so the fund came out 2.0 points ahead of it."
  },
  {
   "q": "Why does FXP not return -2 times over a year?",
   "a": "Because it resets daily. FXP 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."
  }
 ],
 "generated": "2026-10-01",
 "license": "https://etfiq.com/license/",
 "license_text": "Free to use with attribution. ETFIQ (etfiq.com)."
}