ProShares UltraShort Euro (EUO) Performance
EUO total return
Distributions reinvested · as of Oct 23, 2026- YTD
- +14.3% since Dec 31, 2025
- 1 year
- +12.8% total return
- 5 years
- +5.6% a year
- 10 years
- +2.5% a year
- Since first price
- +1.5% a year since 2008
EUO trailing returns vs SPY, QQQ, AGG
| Period | EUO total return | Price only | S&P 500 (SPY) | Nasdaq-100 (QQQ) | U.S. bonds (AGG) |
|---|---|---|---|---|---|
| 1 month | +3.6% | +3.6% | −1.0% | −5.0% | +0.9% |
| 3 months | +4.6% | +4.6% | +3.2% | +1.9% | −0.4% |
| 6 months | +11.7% | +11.7% | +7.8% | +8.4% | −1.5% |
| YTD | +14.3% | +14.3% | +12.3% | +15.1% | −1.0% |
| 1 year | +12.8% | +12.8% | +14.4% | +15.9% | −1.1% |
| 3 years | +4.5%+1.5%/yr | +4.5% | +87.4%+23.3%/yr | +101.4%+26.3%/yr | +16.6%+5.2%/yr |
| 5 years | +31.4%+5.6%/yr | +31.4% | +79.3%+12.4%/yr | +94.0%+14.2%/yr | −0.8%−0.2%/yr |
| 10 years | +27.8%+2.5%/yr | +27.8% | +315.9%+15.3%/yr | +538.9%+20.4%/yr | +14.0%+1.3%/yr |
| 15 years | +81.6%+4.1%/yr | +81.6% | +696.0%+14.8%/yr | +1,299.3%+19.2%/yr | +32.2%+1.9%/yr |
| Since inceptionNov 25, 2008 | +30.8%+1.5%/yr | +30.8% | — | — | — |
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: EUO vs SPY
From Nov 25, 2008: EUO grew to $13,083, SPY to $122,925.
Year-end values with distributions reinvested, no taxes or trading costs. Start: first common trading day of both funds.
EUO returns by calendar year
10 of 17 full years positive. Best 2014 (+26.7%), worst 2017 (−21.7%). 2026 is year to date.
EUO annual returns table
| Year | EUO | Largest drop | SPY | QQQ | AGG |
|---|---|---|---|---|---|
| 2026YTD | +14.3% | −7.0% | +12.3% | +15.1% | −1.0% |
| 2025 | −18.9% | −23.8% | +17.7% | +20.8% | +7.2% |
| 2024 | +19.8% | −8.2% | +24.9% | +25.6% | +1.3% |
| 2023 | −1.0% | −10.4% | +26.2% | +54.9% | +5.7% |
| 2022 | +13.9% | −18.9% | −18.2% | −32.6% | −13.0% |
| 2021 | +14.8% | −8.6% | +28.7% | +27.4% | −1.8% |
| 2020 | −16.0% | −25.1% | +18.3% | +48.6% | +7.5% |
| 2019 | +10.5% | −4.7% | +31.2% | +39.0% | +8.5% |
| 2018 | +14.4% | −8.8% | −4.6% | −0.1% | +0.1% |
| 2017 | −21.7% | −24.5% | +21.7% | +32.7% | +3.6% |
| 2016 | +6.1% | −13.3% | +12.0% | +7.1% | +2.4% |
| 2015 | +18.1% | −20.4% | +1.2% | +9.4% | +0.5% |
| 2014 | +26.7% | −6.6% | +13.5% | +19.2% | +6.0% |
| 2013 | −10.3% | −16.0% | +32.3% | +36.6% | −2.0% |
| 2012 | −6.6% | −17.8% | +16.0% | +18.1% | +3.8% |
| 2011 | +0.2% | −25.4% | +1.9% | +3.4% | +7.7% |
| 2010 | +8.6% | −31.3% | +15.1% | +19.9% | +6.4% |
| 2009 | −12.0% | −34.8% | +26.4% | +54.7% | +3.0% |
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.
EUO largest drawdowns
Now 10.8% below the high| Peak | Decline | Bottom | Recovered | Fall | Underwater |
|---|---|---|---|---|---|
| Jun 7, 2010 | −38.6% | May 3, 2011 | Mar 6, 2015 | 11 months | 4.7 years |
| Dec 1, 2008 | −35.7% | Nov 25, 2009 | Jun 4, 2010 | 12 months | 1.5 years |
| Mar 13, 2015 | −31.5% | Feb 1, 2018 | Feb 12, 2020 | 2.9 years | 4.9 years |
| Mar 20, 2020 | −25.7% | Jan 6, 2021 | Apr 27, 2022 | 10 months | 2.1 years |
| Sep 27, 2022 | −25.3% | Jan 27, 2026 | not yet | 3.3 years | 4.1 years so far |
| Feb 20, 2020 | −11.8% | Mar 9, 2020 | Mar 19, 2020 | 18 days | 28 days |
Declines from a closing high (distributions reinvested) of 10% or more. Underwater = time from the peak until the old high was regained.
EUO risk statistics
| Statistic | 3 years | 5 years | 10 years | Since 2008 |
|---|---|---|---|---|
| Annualized return | +0.2% | +4.9% | +2.9% | +1.1% |
| Volatility (annualized) | 13.8% | 14.8% | 13.8% | 17.9% |
| Sharpe ratio | -0.23 | 0.15 | 0.11 | 0.08 |
| Sortino ratio | -0.31 | 0.22 | 0.16 | 0.12 |
| Best month | +7.0% | +10.0% | +10.0% | +17.7% |
| Worst month | −8.7% | −9.8% | −9.8% | −17.6% |
| Best 12 months | +19.8% | +39.9% | +39.9% | +59.2% |
| Worst 12 months | −19.9% | −19.9% | −23.0% | −34.1% |
| Positive months | 53% | 55% | 57% | 52% |
| Beta vs S&P 500 | -0.17 | -0.34 | -0.27 | — |
| Correlation with S&P 500 | -0.15 | -0.36 | -0.30 | — |
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.
EUO rolling returns
| Holding period | Periods | Worst | Median | Best | Positive |
|---|---|---|---|---|---|
| 1-year | 204 | −34.1% | +1.3% | +59.2% | 53% |
| 3-year (a year) | 180 | −9.8% | +3.0% | +16.7% | 72% |
| 5-year (a year) | 156 | −7.5% | +3.9% | +10.0% | 83% |
| 10-year (a year) | 96 | −0.4% | +3.3% | +6.6% | 97% |
Every holding period starting at a month-end since 2008. Returns for 3 years and longer are annualized.
EUO performance overview
ProShares UltraShort Euro (EUO) returned +12.8% over the past year and +2.5% a year over ten years, with distributions reinvested. Since its first recorded price in 2008 it has returned +1.5% a year, turning $10,000 into about $13,083. Over the same year S&P 500 (SPY) returned +14.4%.
The deepest decline was −38.6%, from Jun 7, 2010 to May 3, 2011, and it took 3.8 years to get back to the old high. EUO finished 10 of its 17 full calendar years with a gain; the best year was 2014 (+26.7%) and the worst 2017 (−21.7%). Volatility has been 17.9% a year.
Related: EUO chart. See the EUO overview for the latest quote and fund facts.
EUO performance FAQ
What is the EUO return over the past year?
EUO returned +12.8% over the 12 months to October 23, 2026, including reinvested distributions. On price alone it rose 12.8%.
What is the average annual return of EUO?
EUO has returned +5.6% a year over 5 years, +2.5% a year over 10 years, +1.5% a year since November 25, 2008 (total return, distributions reinvested).
How much would $10,000 invested in EUO be worth?
$10,000 invested in EUO at its first recorded close on November 25, 2008 would be worth about $13,083 on October 23, 2026 with distributions reinvested.
What was the worst year for EUO?
The worst calendar year was 2017, with a total return of −21.7%. The best was 2014 at +26.7%.
What is the biggest drawdown of EUO?
The largest peak-to-trough decline was −38.6% between June 7, 2010 and May 3, 2011. It recovered to the old high on March 6, 2015, 3.8 years after the bottom.
How volatile is EUO?
Over the past 3 years EUO had an annualized volatility of 13.8% and a Sharpe ratio of -0.23 (excess return over 1–3 month T-bills per unit of risk).