ProShares UltraShort MSCI Brazil Capped (BZQ) Performance
BZQ total return
Distributions reinvested · as of Oct 23, 2026- YTD
- −53.2% since Dec 31, 2025
- 1 year
- −60.5% total return
- 5 years
- −36.3% a year
- 10 years
- −35.1% a year
- Since first price
- −30.6% a year since 2009
BZQ trailing returns vs SPY, QQQ, AGG
| Period | BZQ total return | Price only | S&P 500 (SPY) | Nasdaq-100 (QQQ) | U.S. bonds (AGG) |
|---|---|---|---|---|---|
| 1 month | −27.3% | −27.3% | −1.0% | −5.0% | +0.9% |
| 3 months | −33.6% | −34.7% | +3.2% | +1.9% | −0.4% |
| 6 months | −21.0% | −23.3% | +7.8% | +8.4% | −1.5% |
| YTD | −53.2% | −55.1% | +12.3% | +15.1% | −1.0% |
| 1 year | −60.5% | −62.8% | +14.4% | +15.9% | −1.1% |
| 3 years | −73.6%−35.9%/yr | −77.2% | +87.4%+23.3%/yr | +101.4%+26.3%/yr | +16.6%+5.2%/yr |
| 5 years | −89.5%−36.3%/yr | −91.1% | +79.3%+12.4%/yr | +94.0%+14.2%/yr | −0.8%−0.2%/yr |
| 10 years | −98.7%−35.1%/yr | −98.9% | +315.9%+15.3%/yr | +538.9%+20.4%/yr | +14.0%+1.3%/yr |
| 15 years | −99.5%−29.8%/yr | −99.6% | +696.0%+14.8%/yr | +1,299.3%+19.2%/yr | +32.2%+1.9%/yr |
| Since inceptionJun 19, 2009 | −99.8%−30.6%/yr | −99.9% | — | — | — |
Total return from adjusted closes (distributions reinvested, before tax). Periods of 3 years or more are also shown annualized. Price only excludes distributions.
Growth of $10,000: BZQ vs SPY
From Jun 19, 2009: BZQ grew to $18, SPY to $112,043.
Year-end values with distributions reinvested, no taxes or trading costs. Start: first common trading day of both funds.
BZQ returns by calendar year
6 of 16 full years positive. Best 2024 (+98.8%), worst 2016 (−77.5%). 2026 is year to date.
BZQ annual returns table
| Year | BZQ | Largest drop | SPY | QQQ | AGG |
|---|---|---|---|---|---|
| 2026YTD | −53.2% | −53.9% | +12.3% | +15.1% | −1.0% |
| 2025 | −57.9% | −61.9% | +17.7% | +20.8% | +7.2% |
| 2024 | +98.8% | −24.6% | +24.9% | +25.6% | +1.3% |
| 2023 | −49.1% | −57.1% | +26.2% | +54.9% | +5.7% |
| 2022 | −44.2% | −58.8% | −18.2% | −32.6% | −13.0% |
| 2021 | +6.5% | −50.7% | +28.7% | +27.4% | −1.8% |
| 2020 | −52.9% | −84.2% | +18.3% | +48.6% | +7.5% |
| 2019 | −48.2% | −47.2% | +31.2% | +39.0% | +8.5% |
| 2018 | −21.5% | −51.8% | −4.6% | −0.1% | +0.1% |
| 2017 | −49.7% | −49.9% | +21.7% | +32.7% | +3.6% |
| 2016 | −77.5% | −86.4% | +12.0% | +7.1% | +2.4% |
| 2015 | +97.9% | −40.7% | +1.2% | +9.4% | +0.5% |
| 2014 | +2.4% | −56.8% | +13.5% | +19.2% | +6.0% |
| 2013 | +25.9% | −39.0% | +32.3% | +36.6% | −2.0% |
| 2012 | −16.1% | −32.7% | +16.0% | +18.1% | +3.8% |
| 2011 | +25.8% | −40.7% | +1.9% | +3.4% | +7.7% |
| 2010 | −35.0% | −54.3% | +15.1% | +19.9% | +6.4% |
Largest drop = deepest fall from a high within that calendar year.
Calendar-year return vs largest drop within the year
Most years include a sizable fall at some point even when the year ends higher.
BZQ largest drawdowns
Now 99.8% below the high| Peak | Decline | Bottom | Recovered | Fall | Underwater |
|---|---|---|---|---|---|
| Jul 8, 2009 | −99.9% | Oct 12, 2026 | not yet | 17.3 years | 17.3 years so far |
| Jun 22, 2009 | −15.2% | Jul 1, 2009 | Jul 8, 2009 | 9 days | 16 days |
Declines from a closing high (distributions reinvested) of 10% or more. Underwater = time from the peak until the old high was regained.
BZQ risk statistics
| Statistic | 3 years | 5 years | 10 years | Since 2009 |
|---|---|---|---|---|
| Annualized return | −27.3% | −30.6% | −34.6% | −29.3% |
| Volatility (annualized) | 44.1% | 52.7% | 55.4% | 58.1% |
| Sharpe ratio | -0.59 | -0.49 | -0.51 | -0.32 |
| Sortino ratio | -0.73 | -0.67 | -0.67 | -0.44 |
| Best month | +21.1% | +47.0% | +47.0% | +51.4% |
| Worst month | −27.4% | −27.4% | −37.8% | −44.9% |
| Best 12 months | +98.8% | +98.8% | +98.8% | +190.4% |
| Worst 12 months | −67.8% | −67.8% | −73.1% | −82.7% |
| Positive months | 44% | 42% | 44% | 45% |
| Beta vs S&P 500 | -0.35 | -1.18 | -1.40 | — |
| Correlation with S&P 500 | -0.10 | -0.35 | -0.39 | — |
From monthly total returns. Sharpe and Sortino use 1–3 month T-bills (BIL) as the risk-free rate, so they need history from 2007 on.
BZQ rolling returns
| Holding period | Periods | Worst | Median | Best | Positive |
|---|---|---|---|---|---|
| 1-year | 197 | −82.7% | −26.6% | +190.4% | 26% |
| 3-year (a year) | 173 | −61.2% | −27.7% | +40.3% | 16% |
| 5-year (a year) | 149 | −53.5% | −30.6% | +21.9% | 8% |
| 10-year (a year) | 89 | −42.7% | −30.1% | −16.7% | 0% |
Every holding period starting at a month-end since 2009. Returns for 3 years and longer are annualized.
BZQ performance overview
ProShares UltraShort MSCI Brazil Capped (BZQ) returned −60.5% over the past year and −35.1% a year over ten years, with distributions reinvested. Since its first recorded price in 2009 it has returned −30.6% a year, turning $10,000 into about $18. Over the same year S&P 500 (SPY) returned +14.4%.
The deepest decline was −99.9%, from Jul 8, 2009 to Oct 12, 2026; the fund has not yet regained that high. BZQ finished 6 of its 16 full calendar years with a gain; the best year was 2024 (+98.8%) and the worst 2016 (−77.5%). Volatility has been 58.1% a year.
Related: BZQ chart, BZQ dividends. See the BZQ overview for the latest quote and fund facts.
BZQ performance FAQ
What is the BZQ return over the past year?
BZQ returned −60.5% over the 12 months to October 23, 2026, including reinvested distributions. On price alone it fell 62.8%.
What is the average annual return of BZQ?
BZQ has returned −36.3% a year over 5 years, −35.1% a year over 10 years, −30.6% a year since June 19, 2009 (total return, distributions reinvested).
How much would $10,000 invested in BZQ be worth?
$10,000 invested in BZQ at its first recorded close on June 19, 2009 would be worth about $18 on October 23, 2026 with distributions reinvested.
What was the worst year for BZQ?
The worst calendar year was 2016, with a total return of −77.5%. The best was 2024 at +98.8%.
What is the biggest drawdown of BZQ?
The largest peak-to-trough decline was −99.9% between July 8, 2009 and October 12, 2026. It has not yet recovered to that high; it is 99.8% below its peak.
How volatile is BZQ?
Over the past 3 years BZQ had an annualized volatility of 44.1% and a Sharpe ratio of -0.59 (excess return over 1–3 month T-bills per unit of risk).