ProShares UltraShort Technology (REW) Performance
REW total return
Distributions reinvested · as of Oct 23, 2026- YTD
- −45.2% since Dec 31, 2025
- 1 year
- −45.2% total return
- 5 years
- −35.6% a year
- 10 years
- −43.5% a year
- Since first price
- −36.2% a year since 2007
REW trailing returns vs SPY, QQQ, AGG
| Period | REW total return | Price only | S&P 500 (SPY) | Nasdaq-100 (QQQ) | U.S. bonds (AGG) |
|---|---|---|---|---|---|
| 1 month | +12.8% | +12.8% | −1.0% | −5.0% | +0.9% |
| 3 months | −7.8% | −8.5% | +3.2% | +1.9% | −0.4% |
| 6 months | −33.9% | −35.4% | +7.8% | +8.4% | −1.5% |
| YTD | −45.2% | −46.8% | +12.3% | +15.1% | −1.0% |
| 1 year | −45.2% | −47.7% | +14.4% | +15.9% | −1.1% |
| 3 years | −84.9%−46.8%/yr | −87.0% | +87.4%+23.3%/yr | +101.4%+26.3%/yr | +16.6%+5.2%/yr |
| 5 years | −88.9%−35.6%/yr | −90.8% | +79.3%+12.4%/yr | +94.0%+14.2%/yr | −0.8%−0.2%/yr |
| 10 years | −99.7%−43.5%/yr | −99.7% | +315.9%+15.3%/yr | +538.9%+20.4%/yr | +14.0%+1.3%/yr |
| 15 years | −99.9%−39.5%/yr | −99.96% | +696.0%+14.8%/yr | +1,299.3%+19.2%/yr | +32.2%+1.9%/yr |
| Since inceptionFeb 1, 2007 | −99.99%−36.2%/yr | −99.99% | — | — | — |
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: REW vs SPY
From Feb 1, 2007: REW grew to $1, SPY to $75,332.
Year-end values with distributions reinvested, no taxes or trading costs. Start: first common trading day of both funds.
REW returns by calendar year
2 of 18 full years positive. Best 2008 (+95.3%), worst 2009 (−71.5%). 2026 is year to date.
REW annual returns table
| Year | REW | Largest drop | SPY | QQQ | AGG |
|---|---|---|---|---|---|
| 2026YTD | −45.2% | −63.7% | +12.3% | +15.1% | −1.0% |
| 2025 | −43.2% | −67.4% | +17.7% | +20.8% | +7.2% |
| 2024 | −33.7% | −43.5% | +24.9% | +25.6% | +1.3% |
| 2023 | −61.3% | −63.7% | +26.2% | +54.9% | +5.7% |
| 2022 | +65.7% | −36.2% | −18.2% | −32.6% | −13.0% |
| 2021 | −53.6% | −57.7% | +28.7% | +27.4% | −1.8% |
| 2020 | −71.3% | −79.1% | +18.3% | +48.6% | +7.5% |
| 2019 | −56.8% | −60.6% | +31.2% | +39.0% | +8.5% |
| 2018 | −10.0% | −38.8% | −4.6% | −0.1% | +0.1% |
| 2017 | −49.1% | −50.2% | +21.7% | +32.7% | +3.6% |
| 2016 | −29.6% | −47.0% | +12.0% | +7.1% | +2.4% |
| 2015 | −16.2% | −32.9% | +1.2% | +9.4% | +0.5% |
| 2014 | −36.7% | −42.9% | +13.5% | +19.2% | +6.0% |
| 2013 | −41.5% | −41.6% | +32.3% | +36.6% | −2.0% |
| 2012 | −27.5% | −36.7% | +16.0% | +18.1% | +3.8% |
| 2011 | −17.7% | −35.4% | +1.9% | +3.4% | +7.7% |
| 2010 | −30.8% | −41.9% | +15.1% | +19.9% | +6.4% |
| 2009 | −71.5% | −76.6% | +26.4% | +54.7% | +3.0% |
| 2008 | +95.3% | −36.9% | −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.
REW largest drawdowns
Now 99.99% below the high| Peak | Decline | Bottom | Recovered | Fall | Underwater |
|---|---|---|---|---|---|
| Nov 20, 2008 | −100.00% | Oct 6, 2026 | not yet | 17.9 years | 17.9 years so far |
| Mar 5, 2007 | −36.5% | Nov 6, 2007 | Feb 6, 2008 | 8 months | 11 months |
| Mar 17, 2008 | −31.0% | Jun 5, 2008 | Sep 17, 2008 | 3 months | 6 months |
| Oct 27, 2008 | −27.8% | Nov 4, 2008 | Nov 17, 2008 | 8 days | 21 days |
| Oct 10, 2008 | −22.4% | Oct 13, 2008 | Oct 24, 2008 | 3 days | 14 days |
| Sep 17, 2008 | −12.1% | Sep 19, 2008 | Sep 29, 2008 | 2 days | 12 days |
Declines from a closing high (distributions reinvested) of 10% or more. Underwater = time from the peak until the old high was regained.
REW risk statistics
| Statistic | 3 years | 5 years | 10 years | Since 2007 |
|---|---|---|---|---|
| Annualized return | −49.0% | −38.7% | −44.1% | −37.0% |
| Volatility (annualized) | 39.4% | 45.4% | 39.5% | 37.9% |
| Sharpe ratio | -1.56 | -0.91 | -1.30 | -1.04 |
| Sortino ratio | -1.58 | -1.09 | -1.45 | -1.24 |
| Best month | +17.5% | +28.9% | +28.9% | +29.6% |
| Worst month | −31.2% | −31.2% | −31.2% | −31.2% |
| Best 12 months | −3.6% | +65.7% | +65.7% | +112.4% |
| Worst 12 months | −64.9% | −64.9% | −74.5% | −74.5% |
| Positive months | 33% | 37% | 30% | 33% |
| Beta vs S&P 500 | -2.55 | -2.52 | -2.14 | — |
| Correlation with S&P 500 | -0.81 | -0.87 | -0.83 | — |
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.
REW rolling returns
| Holding period | Periods | Worst | Median | Best | Positive |
|---|---|---|---|---|---|
| 1-year | 225 | −74.5% | −38.2% | +112.4% | 10% |
| 3-year (a year) | 201 | −61.4% | −34.7% | −16.3% | 0% |
| 5-year (a year) | 177 | −51.7% | −35.7% | −22.9% | 0% |
| 10-year (a year) | 117 | −45.2% | −38.7% | −29.0% | 0% |
Every holding period starting at a month-end since 2007. Returns for 3 years and longer are annualized.
REW performance overview
ProShares UltraShort Technology (REW) returned −45.2% over the past year and −43.5% a year over ten years, with distributions reinvested. Since its first recorded price in 2007 it has returned −36.2% a year, turning $10,000 into about $1. Over the same year S&P 500 (SPY) returned +14.4%.
The deepest decline was −100.00%, from Nov 20, 2008 to Oct 6, 2026; the fund has not yet regained that high. REW finished 2 of its 18 full calendar years with a gain; the best year was 2008 (+95.3%) and the worst 2009 (−71.5%). Volatility has been 37.9% a year.
Related: REW chart, REW holdings, REW dividends, REW valuation. See the REW overview for the latest quote and fund facts.
REW performance FAQ
What is the REW return over the past year?
REW returned −45.2% over the 12 months to October 23, 2026, including reinvested distributions. On price alone it fell 47.7%.
What is the average annual return of REW?
REW has returned −35.6% a year over 5 years, −43.5% a year over 10 years, −36.2% a year since February 1, 2007 (total return, distributions reinvested).
How much would $10,000 invested in REW be worth?
$10,000 invested in REW at its first recorded close on February 1, 2007 would be worth about $1 on October 23, 2026 with distributions reinvested.
What was the worst year for REW?
The worst calendar year was 2009, with a total return of −71.5%. The best was 2008 at +95.3%.
What is the biggest drawdown of REW?
The largest peak-to-trough decline was −100.00% between November 20, 2008 and October 6, 2026. It has not yet recovered to that high; it is 99.99% below its peak.
How volatile is REW?
Over the past 3 years REW had an annualized volatility of 39.4% and a Sharpe ratio of -1.56 (excess return over 1–3 month T-bills per unit of risk).