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Beacon

EFZProShares Short MSCI EAFE

Take a bet18y track recordRanked #380 of 949 in this goal

Seeks daily investment results that correspond to the inverse (-1x) of the daily performance of the MSCI EAFE Index.

By ProShares · Launched 2007

Annual Cost

0.95%

#4,876 of 5,854 · expensive

Fund Size

$12M

#4,800 of 5,854 · small

Return (1Y)Goal

-16.4%

Track Record

18 years

#525 of 5,854 · established

Performance

Total-return NAV · USD
Growth of $10,000
$8,185-18.1%

Total-return NAV, USD. Net of fund fees, before tax.

What's inside

How Beacon categorizes this fund

Asset class

Equity

Region

Global ex-US

Strategy

Inverse

Index tracked

MSCI EAFE Index

What it actually holds

By weight

Concentration

synthetic exposure — holdings shown are derivatives collateral, not the fund's positions

Repurchase Agreement
29.0%
Repurchase Agreement
14.4%
Repurchase Agreement
14.4%
Repurchase Agreement
8.6%
Repurchase Agreement
8.6%
Repurchase Agreement
7.2%
Repurchase Agreement
5.8%
Repurchase Agreement
5.8%
Repurchase Agreement
2.9%
N/A
-0.9%

Asset allocation

Cash
150.3%

Risk profile

Last 12 months · Sharpe & Sortino need 3+ years
Volatility (1Y)
16.7%Moderate

Year-on-year price swings

Max drawdown
-61.6%Severe

Worst peak-to-trough loss

Sharpe (3Y)
-0.80Below average
Sortino (3Y)
-1.10Moderate downside risk

Listing

Exchange
NYSE Arca

Full fund details

Objective
Seeks daily investment results that correspond to the inverse (-1x) of the daily performance of the MSCI EAFE Index.
Strategy
Invests in financial instruments to achieve inverse exposure to large and mid-cap companies across 21 developed market countries, excluding the U.S. and Canada. The Fund uses derivatives, primarily swap agreements, to gain this exposure and rebalances daily to maintain the inverse target.
Inception date
October 23, 2007
Fund family
ProShares

Our take

Structural notes on how this fund behaves. Read our guide on the 6 warning signs.

Inverse
Warning

You can be right and still lose

This fund returns the opposite of its benchmark's daily move, then resets. Hold it longer and the daily compounding takes over: the market can move your way over a week and you still finish down. It works as a one-day hedge and nothing beyond that.

Sources: Cheng & Madhavan, 'The Dynamics of Leveraged and Inverse ETFs' (2009)

Educational analysis of structural product characteristics. Not investment advice. Always read the fund prospectus and consult a qualified advisor before investing. More

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Data updated on 2026-08-03