ProShares UltraShort MSCI EAFE (EFU) Performance
EFU total return
Distributions reinvested · as of Oct 23, 2026- YTD
- −15.1% since Dec 31, 2025
- 1 year
- −19.1% total return
- 5 years
- −14.6% a year
- 10 years
- −18.8% a year
- Since first price
- −18.6% a year since 2007
EFU trailing returns vs SPY, QQQ, AGG
| Period | EFU total return | Price only | S&P 500 (SPY) | Nasdaq-100 (QQQ) | U.S. bonds (AGG) |
|---|---|---|---|---|---|
| 1 month | +4.8% | +4.8% | −1.0% | −5.0% | +0.9% |
| 3 months | +1.7% | +0.5% | +3.2% | +1.9% | −0.4% |
| 6 months | −4.8% | −6.8% | +7.8% | +8.4% | −1.5% |
| YTD | −15.1% | −17.2% | +12.3% | +15.1% | −1.0% |
| 1 year | −19.1% | −22.1% | +14.4% | +15.9% | −1.1% |
| 3 years | −61.8%−27.5%/yr | −66.4% | +87.4%+23.3%/yr | +101.4%+26.3%/yr | +16.6%+5.2%/yr |
| 5 years | −54.6%−14.6%/yr | −62.1% | +79.3%+12.4%/yr | +94.0%+14.2%/yr | −0.8%−0.2%/yr |
| 10 years | −87.6%−18.8%/yr | −89.7% | +315.9%+15.3%/yr | +538.9%+20.4%/yr | +14.0%+1.3%/yr |
| 15 years | −95.6%−18.8%/yr | −96.4% | +696.0%+14.8%/yr | +1,299.3%+19.2%/yr | +32.2%+1.9%/yr |
| Since inceptionOct 25, 2007 | −98.0%−18.6%/yr | −98.7% | — | — | — |
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: EFU vs SPY
From Oct 25, 2007: EFU grew to $200, SPY to $70,819.
Year-end values with distributions reinvested, no taxes or trading costs. Start: first common trading day of both funds.
EFU returns by calendar year
4 of 18 full years positive. Best 2008 (+49.2%), worst 2009 (−56.3%). 2026 is year to date.
EFU annual returns table
| Year | EFU | Largest drop | SPY | QQQ | AGG |
|---|---|---|---|---|---|
| 2026YTD | −15.1% | −28.5% | +12.3% | +15.1% | −1.0% |
| 2025 | −41.1% | −45.8% | +17.7% | +20.8% | +7.2% |
| 2024 | −1.0% | −24.6% | +24.9% | +25.6% | +1.3% |
| 2023 | −25.4% | −25.3% | +26.2% | +54.9% | +5.7% |
| 2022 | +24.3% | −35.0% | −18.2% | −32.6% | −13.0% |
| 2021 | −24.6% | −27.1% | +28.7% | +27.4% | −1.8% |
| 2020 | −35.5% | −67.2% | +18.3% | +48.6% | +7.5% |
| 2019 | −32.7% | −34.1% | +31.2% | +39.0% | +8.5% |
| 2018 | +32.3% | −11.6% | −4.6% | −0.1% | +0.1% |
| 2017 | −36.9% | −35.9% | +21.7% | +32.7% | +3.6% |
| 2016 | −12.2% | −34.4% | +12.0% | +7.1% | +2.4% |
| 2015 | −7.8% | −28.6% | +1.2% | +9.4% | +0.5% |
| 2014 | +6.9% | −24.5% | +13.5% | +19.2% | +6.0% |
| 2013 | −36.6% | −36.7% | +32.3% | +36.6% | −2.0% |
| 2012 | −36.5% | −41.1% | +16.0% | +18.1% | +3.8% |
| 2011 | −2.8% | −32.1% | +1.9% | +3.4% | +7.7% |
| 2010 | −30.7% | −45.9% | +15.1% | +19.9% | +6.4% |
| 2009 | −56.3% | −76.4% | +26.4% | +54.7% | +3.0% |
| 2008 | +49.2% | −48.5% | −36.8% | −41.7% | +7.9% |
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.
EFU largest drawdowns
Now 99.3% below the high| Peak | Decline | Bottom | Recovered | Fall | Underwater |
|---|---|---|---|---|---|
| Oct 27, 2008 | −99.4% | Aug 25, 2026 | not yet | 17.8 years | 18.0 years so far |
| Oct 10, 2008 | −32.5% | Oct 13, 2008 | Oct 27, 2008 | 3 days | 17 days |
| Feb 8, 2008 | −25.7% | May 16, 2008 | Jul 11, 2008 | 3 months | 5 months |
| Sep 17, 2008 | −21.1% | Sep 19, 2008 | Sep 29, 2008 | 2 days | 12 days |
| Nov 19, 2007 | −12.4% | Dec 10, 2007 | Dec 17, 2007 | 21 days | 28 days |
| Jan 22, 2008 | −12.1% | Feb 1, 2008 | Feb 8, 2008 | 10 days | 17 days |
Declines from a closing high (distributions reinvested) of 10% or more. Underwater = time from the peak until the old high was regained.
EFU risk statistics
| Statistic | 3 years | 5 years | 10 years | Since 2007 |
|---|---|---|---|---|
| Annualized return | −26.5% | −16.2% | −18.8% | −18.5% |
| Volatility (annualized) | 23.8% | 31.2% | 28.9% | 32.6% |
| Sharpe ratio | -1.35 | -0.52 | -0.65 | -0.50 |
| Sortino ratio | -1.54 | -0.70 | -0.84 | -0.66 |
| Best month | +16.4% | +21.6% | +21.6% | +27.4% |
| Worst month | −14.2% | −23.0% | −24.7% | −24.7% |
| Best 12 months | −1.0% | +64.3% | +64.3% | +119.0% |
| Worst 12 months | −43.4% | −43.4% | −59.0% | −69.6% |
| Positive months | 28% | 37% | 35% | 40% |
| Beta vs S&P 500 | -1.13 | -1.57 | -1.54 | — |
| Correlation with S&P 500 | -0.59 | -0.79 | -0.82 | — |
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.
EFU rolling returns
| Holding period | Periods | Worst | Median | Best | Positive |
|---|---|---|---|---|---|
| 1-year | 217 | −69.6% | −20.8% | +119.0% | 20% |
| 3-year (a year) | 193 | −46.3% | −20.0% | −1.9% | 0% |
| 5-year (a year) | 169 | −40.4% | −18.4% | −5.9% | 0% |
| 10-year (a year) | 109 | −26.4% | −18.4% | −12.4% | 0% |
Every holding period starting at a month-end since 2007. Returns for 3 years and longer are annualized.
EFU performance overview
ProShares UltraShort MSCI EAFE (EFU) returned −19.1% over the past year and −18.8% a year over ten years, with distributions reinvested. Since its first recorded price in 2007 it has returned −18.6% a year, turning $10,000 into about $200. Over the same year S&P 500 (SPY) returned +14.4%.
The deepest decline was −99.4%, from Oct 27, 2008 to Aug 25, 2026; the fund has not yet regained that high. EFU finished 4 of its 18 full calendar years with a gain; the best year was 2008 (+49.2%) and the worst 2009 (−56.3%). Volatility has been 32.6% a year.
Related: EFU chart, EFU dividends. See the EFU overview for the latest quote and fund facts.
EFU performance FAQ
What is the EFU return over the past year?
EFU returned −19.1% over the 12 months to October 23, 2026, including reinvested distributions. On price alone it fell 22.1%.
What is the average annual return of EFU?
EFU has returned −14.6% a year over 5 years, −18.8% a year over 10 years, −18.6% a year since October 25, 2007 (total return, distributions reinvested).
How much would $10,000 invested in EFU be worth?
$10,000 invested in EFU at its first recorded close on October 25, 2007 would be worth about $200 on October 23, 2026 with distributions reinvested.
What was the worst year for EFU?
The worst calendar year was 2009, with a total return of −56.3%. The best was 2008 at +49.2%.
What is the biggest drawdown of EFU?
The largest peak-to-trough decline was −99.4% between October 27, 2008 and August 25, 2026. It has not yet recovered to that high; it is 99.3% below its peak.
How volatile is EFU?
Over the past 3 years EFU had an annualized volatility of 23.8% and a Sharpe ratio of -1.35 (excess return over 1–3 month T-bills per unit of risk).