# URE (ProShares Ultra Real Estate)

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

Three months to Sep 30, 2026: URE returned −14.3% where its own daily promise gave −13.5%, 0.8 points short.

## Key facts

- URE, what IYR did: −6.8%, as of Sep 30, 2026.
- URE, what 2 times a day gives: −13.5%, as of Sep 30, 2026.
- URE, what the fund returned: −14.3%, as of Sep 30, 2026.
- URE, the fund itself cost: −0.8 pts, as of Sep 30, 2026.
- URE, net assets: $47m (issuer page, as of Sep 30, 2026).
- URE, expense ratio: 0.95% (485BPOS XBRL, Sep 25, 2026).

## URE over each window to Sep 30, 2026

| Window | Fund | IYR | +2x the move | Difference | IYR moved about |
| --- | --- | --- | --- | --- | --- |
| 1 month | −13.0% | −6.7% | −13.4% | +0.4 pts | 10% |
| 3 months | −14.3% | −6.8% | −13.6% | −0.7 pts | 13% |
| 6 months | −0.6% | +1.4% | +2.8% | −3.4 pts | 14% |
| 1 year | −6.3% | +0.3% | +0.6% | −7.0 pts | 14% |
| 3 years | +34.5% | +30.9% | +61.8% | −27.3 pts | 17% |
| Since launch | +326.6% | +259.8% | 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 | +2.11 times, against +2 stated | ETFIQ |
| Underlying | IYR | ETFIQ |
| Segment | sector or country, sector | ETFIQ |
| Net assets | $47m | 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 URE return +2 times IYR?

Over the window to Sep 30, 2026, IYR moved −6.8% and URE returned −14.3%. 2 times that move is −13.6%, so the fund came out 0.7 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 30, 2026. https://etfiq.com/funds/ure
Free to use with attribution; the underlying files are at https://etfiq.com/data/.

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