ProShares UltraShort FTSE China 50 (FXP) Performance
FXP total return
Distributions reinvested · as of Oct 23, 2026- YTD
- +34.5% since Dec 31, 2025
- 1 year
- +46.9% total return
- 5 years
- −15.4% a year
- 10 years
- −19.3% a year
- Since first price
- −27.5% a year since 2007
FXP trailing returns vs SPY, QQQ, AGG
| Period | FXP total return | Price only | S&P 500 (SPY) | Nasdaq-100 (QQQ) | U.S. bonds (AGG) |
|---|---|---|---|---|---|
| 1 month | +13.3% | +13.3% | −1.0% | −5.0% | +0.9% |
| 3 months | +12.8% | +12.2% | +3.2% | +1.9% | −0.4% |
| 6 months | +23.7% | +22.4% | +7.8% | +8.4% | −1.5% |
| YTD | +34.5% | +32.5% | +12.3% | +15.1% | −1.0% |
| 1 year | +46.9% | +43.3% | +14.4% | +15.9% | −1.1% |
| 3 years | −64.0%−28.9%/yr | −68.4% | +87.4%+23.3%/yr | +101.4%+26.3%/yr | +16.6%+5.2%/yr |
| 5 years | −56.6%−15.4%/yr | −62.5% | +79.3%+12.4%/yr | +94.0%+14.2%/yr | −0.8%−0.2%/yr |
| 10 years | −88.3%−19.3%/yr | −90.0% | +315.9%+15.3%/yr | +538.9%+20.4%/yr | +14.0%+1.3%/yr |
| 15 years | −97.6%−22.0%/yr | −98.0% | +696.0%+14.8%/yr | +1,299.3%+19.2%/yr | +32.2%+1.9%/yr |
| Since inceptionNov 8, 2007 | −99.8%−27.5%/yr | −99.8% | — | — | — |
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: FXP vs SPY
From Nov 8, 2007: FXP grew to $23, SPY to $73,072.
Year-end values with distributions reinvested, no taxes or trading costs. Start: first common trading day of both funds.
FXP returns by calendar year
4 of 18 full years positive. Best 2021 (+23.6%), worst 2009 (−76.3%). 2026 is year to date.
FXP annual returns table
| Year | FXP | Largest drop | SPY | QQQ | AGG |
|---|---|---|---|---|---|
| 2026YTD | +34.5% | −25.7% | +12.3% | +15.1% | −1.0% |
| 2025 | −45.3% | −58.0% | +17.7% | +20.8% | +7.2% |
| 2024 | −52.5% | −72.4% | +24.9% | +25.6% | +1.3% |
| 2023 | +12.7% | −30.2% | +26.2% | +54.9% | +5.7% |
| 2022 | −11.7% | −54.5% | −18.2% | −32.6% | −13.0% |
| 2021 | +23.6% | −30.1% | +28.7% | +27.4% | −1.8% |
| 2020 | −39.5% | −61.0% | +18.3% | +48.6% | +7.5% |
| 2019 | −29.0% | −32.8% | +31.2% | +39.0% | +8.5% |
| 2018 | +12.5% | −22.4% | −4.6% | −0.1% | +0.1% |
| 2017 | −49.8% | −50.6% | +21.7% | +32.7% | +3.6% |
| 2016 | −18.8% | −53.6% | +12.0% | +7.1% | +2.4% |
| 2015 | −0.8% | −43.3% | +1.2% | +9.4% | +0.5% |
| 2014 | −30.8% | −46.7% | +13.5% | +19.2% | +6.0% |
| 2013 | −13.1% | −45.0% | +32.3% | +36.6% | −2.0% |
| 2012 | −42.1% | −45.2% | +16.0% | +18.1% | +3.8% |
| 2011 | +1.0% | −46.3% | +1.9% | +3.4% | +7.7% |
| 2010 | −28.3% | −51.5% | +15.1% | +19.9% | +6.4% |
| 2009 | −76.3% | −85.4% | +26.4% | +54.7% | +3.0% |
| 2008 | −53.6% | −82.3% | −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.
FXP largest drawdowns
Now 99.9% below the high| Peak | Decline | Bottom | Recovered | Fall | Underwater |
|---|---|---|---|---|---|
| Oct 27, 2008 | −99.9% | Oct 2, 2025 | not yet | 16.9 years | 18.0 years so far |
| Mar 19, 2008 | −48.2% | May 6, 2008 | Sep 15, 2008 | 48 days | 6 months |
| Oct 9, 2008 | −45.0% | Oct 13, 2008 | Oct 27, 2008 | 4 days | 18 days |
| Sep 17, 2008 | −42.7% | Sep 19, 2008 | Oct 9, 2008 | 2 days | 22 days |
| Nov 12, 2007 | −33.2% | Dec 6, 2007 | Jan 17, 2008 | 24 days | 2 months |
| Feb 6, 2008 | −21.0% | Feb 27, 2008 | Mar 7, 2008 | 21 days | 30 days |
Declines from a closing high (distributions reinvested) of 10% or more. Underwater = time from the peak until the old high was regained.
FXP risk statistics
| Statistic | 3 years | 5 years | 10 years | Since 2007 |
|---|---|---|---|---|
| Annualized return | −28.9% | −19.9% | −20.1% | −27.6% |
| Volatility (annualized) | 39.9% | 54.5% | 45.7% | 48.2% |
| Sharpe ratio | -0.74 | -0.19 | -0.30 | -0.44 |
| Sortino ratio | -0.87 | -0.26 | -0.41 | -0.58 |
| Best month | +21.4% | +43.7% | +43.7% | +47.9% |
| Worst month | −34.2% | −48.1% | −48.1% | −48.1% |
| Best 12 months | +37.1% | +111.0% | +111.0% | +111.0% |
| Worst 12 months | −66.3% | −66.3% | −66.3% | −89.8% |
| Positive months | 47% | 48% | 42% | 41% |
| Beta vs S&P 500 | -0.28 | -0.50 | -0.83 | — |
| Correlation with S&P 500 | -0.09 | -0.14 | -0.28 | — |
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.
FXP rolling returns
| Holding period | Periods | Worst | Median | Best | Positive |
|---|---|---|---|---|---|
| 1-year | 216 | −89.8% | −24.2% | +111.0% | 22% |
| 3-year (a year) | 192 | −61.5% | −22.6% | +19.3% | 5% |
| 5-year (a year) | 168 | −49.2% | −22.5% | +0.6% | 1% |
| 10-year (a year) | 108 | −39.5% | −22.0% | −14.3% | 0% |
Every holding period starting at a month-end since 2007. Returns for 3 years and longer are annualized.
FXP performance overview
ProShares UltraShort FTSE China 50 (FXP) returned +46.9% over the past year and −19.3% a year over ten years, with distributions reinvested. Since its first recorded price in 2007 it has returned −27.5% a year, turning $10,000 into about $23. Over the same year S&P 500 (SPY) returned +14.4%.
The deepest decline was −99.9%, from Oct 27, 2008 to Oct 2, 2025; the fund has not yet regained that high. FXP finished 4 of its 18 full calendar years with a gain; the best year was 2021 (+23.6%) and the worst 2009 (−76.3%). Volatility has been 48.2% a year.
Related: FXP chart, FXP dividends. See the FXP overview for the latest quote and fund facts.
FXP performance FAQ
What is the FXP return over the past year?
FXP returned +46.9% over the 12 months to October 23, 2026, including reinvested distributions. On price alone it rose 43.3%.
What is the average annual return of FXP?
FXP has returned −15.4% a year over 5 years, −19.3% a year over 10 years, −27.5% a year since November 8, 2007 (total return, distributions reinvested).
How much would $10,000 invested in FXP be worth?
$10,000 invested in FXP at its first recorded close on November 8, 2007 would be worth about $23 on October 23, 2026 with distributions reinvested.
What was the worst year for FXP?
The worst calendar year was 2009, with a total return of −76.3%. The best was 2021 at +23.6%.
What is the biggest drawdown of FXP?
The largest peak-to-trough decline was −99.9% between October 27, 2008 and October 2, 2025. It has not yet recovered to that high; it is 99.9% below its peak.
How volatile is FXP?
Over the past 3 years FXP had an annualized volatility of 39.9% and a Sharpe ratio of -0.74 (excess return over 1–3 month T-bills per unit of risk).