- ISIN
- US74347W8828
- CUSIP
- 74347W882
- Issuer
- ProShares
- Inception Date
- Nov 25, 2008
- Region
- Developed Europe (Broad)
- Category
- Leveraged Currency
- Leveraged
- 2x
- Index Tracked
- USD/EUR Exchange Rate (-200%)
- Distribution Policy
- Accumulating
- Asset Class
- Currency
- Assets Under Management
- $38M
Share Price Chart
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Performance
EUO Performance Chart
ProShares UltraShort Euro (EUO) is up 5.7% since the beginning of the year. EUO is currently trading at $30 per share. Investors who bought $1,000 worth of EUO shares 5 years ago would now be looking at an investment worth $1,323.
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Returns By Period
ProShares UltraShort Euro (EUO) has returned 5.66% so far this year and 2.76% over the past 12 months. Over the last ten years, EUO has returned 2.37% per year, falling short of the S&P 500 Index benchmark, which averaged 13.42% annually.
ProShares UltraShort Euro
- 1D
- -0.12%
- 1M
- 4.56%
- YTD
- 5.66%
- 6M
- 3.73%
- 1Y
- 2.76%
- 3Y*
- 0.04%
- 5Y*
- 5.76%
- 10Y*
- 2.37%
Benchmark (S&P 500 Index)
- 1D
- -0.26%
- 1M
- -0.17%
- YTD
- 7.91%
- 6M
- 7.98%
- 1Y
- 22.99%
- 3Y*
- 19.77%
- 5Y*
- 11.75%
- 10Y*
- 13.42%
EUO Monthly Returns History
Based on dividend-adjusted daily data since Nov 25, 2008, EUO's average daily return is +0.01%, while the average monthly return is +0.22%. At this rate, an investment would double in approximately 26.3 years.
Historically, 53% of months were positive and 47% were negative. The best month was Jan 2009 with a return of +17.7%, while the worst month was Dec 2008 at -17.6%. The longest winning streak lasted 9 consecutive months, and the longest losing streak was 6 months.
On a daily basis, EUO closed higher 49% of trading days. The best single day was May 19, 2014 with a return of +22.4%, while the worst single day was May 20, 2014 at -18.2%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | -1.20% | 1.04% | 4.67% | -2.77% | 1.70% | 2.27% | 5.66% | ||||||
| 2025 | 0.03% | 0.06% | -7.67% | -8.74% | 0.10% | -6.78% | 6.95% | -4.53% | -0.18% | 4.43% | -0.98% | -2.19% | -18.87% |
| 2024 | 4.86% | 0.44% | 0.84% | 2.52% | -2.84% | 3.21% | -1.66% | -3.55% | -0.91% | 5.07% | 6.48% | 4.33% | 19.79% |
| 2023 | -2.55% | 5.99% | -4.54% | -2.76% | 6.95% | -3.61% | -1.10% | 3.04% | 5.95% | 0.19% | -5.10% | -2.45% | -1.02% |
| 2022 | 2.17% | 0.83% | 2.52% | 10.01% | -3.64% | 5.04% | 5.23% | 3.59% | 5.22% | -1.69% | -9.77% | -4.82% | 13.88% |
| 2021 | 1.29% | 1.09% | 5.90% | -5.04% | -2.72% | 5.59% | -0.17% | 0.97% | 3.83% | 0.48% | 3.79% | -0.54% | 14.83% |
Benchmark Metrics
ProShares UltraShort Euro has an annualized alpha of 6.23%, beta of -0.22, and R2 of 0.05 versus S&P 500 Index. Calculated based on daily prices since November 25, 2008.
- This ETF tended to rise when S&P 500 Index fell (downside capture of -95.56%), but participation in market rallies was also limited (-24.62%) - a profile typical of counter-cyclical assets.
- Beta of -0.22 may look defensive, but with R2 of 0.05 this ETF is largely uncorrelated with S&P 500 Index - low beta reflects independence, not downside protection. See the Volatility section for a true picture of this ETF's risk.
- R2 of 0.05 means this ETF moves largely independently of S&P 500 Index - capture ratios reflect limited market correlation rather than active downside protection. Consider using a more representative benchmark.
- Alpha
- 6.23%
- Beta
- -0.22
- R²
- 0.05
- Upside Capture
- -24.62%
- Downside Capture
- -95.56%
Expense Ratio
EUO has a high expense ratio of 0.99%, indicating above-average management fees.
Return for Risk
Risk / Return Rank
EUO ranks 13 for risk / return — in the bottom 13% of ETFs on our site. This means you're taking on significantly more risk than the returns justify. Consider whether the potential upside is worth the volatility, or explore alternatives with better risk / return profiles.
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for ProShares UltraShort Euro (EUO) and compare them to S&P 500 Index.
| EUO | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.68 | ||
| Sortino ratioReturn per unit of downside risk | -2.19 | ||
| Omega ratioGain probability vs. loss probability | 1.05 | 1.35 | -0.30 |
| Calmar ratioReturn relative to maximum drawdown | 0.34 | 2.54 | -2.19 |
| Martin ratioReturn relative to average drawdown | 0.76 | 11.58 | -10.81 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Dividends
Dividend History
Drawdowns
Drawdowns Chart
The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.
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Worst Drawdowns
The table below displays the maximum drawdowns of the ProShares UltraShort Euro. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.
The maximum drawdown for the ProShares UltraShort Euro was 38.58%, occurring on May 3, 2011. Recovery took 966 trading sessions.
The current ProShares UltraShort Euro drawdown is 17.56%.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
2011 bear market2011 | -38.58%May 2011 | 10mo 29d | 3y 10mo | 4y 9moJun 2010 - Mar 2015 |
Financial crisis2007–2009 | -35.73%Nov 2009 | 11mo 28d | 6mo 11d | 1y 6moDec 2008 - Jun 2010 |
2018 bear market2018 | -31.49%Feb 2018 | 2y 10mo | 2y 11d | 4y 11moMar 2015 - Feb 2020 |
2021 bear market2021 | -25.67%Jan 2021 | 9mo 19d | 1y 3mo | 2y 1moMar 2020 - Apr 2022 |
2026 bear market2026 | -25.28%Jan 2026 | 3y 4mo | — | 3y 8moSep 2022 - now |
Drawdown Indicators
| EUO | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -38.58% | -56.78% | +18.20% |
Max Drawdown (1Y)Largest decline over 1 year | -8.05% | -9.10% | +1.05% |
Max Drawdown (3Y)Largest decline over 3 years | -24.46% | -18.90% | -5.56% |
Max Drawdown (5Y)Largest decline over 5 years | -25.28% | -25.43% | +0.15% |
Max Drawdown (10Y)Largest decline over 10 years | -29.61% | -33.92% | +4.31% |
Current DrawdownCurrent decline from peak | -17.56% | -2.93% | -14.63% |
Average DrawdownAverage peak-to-trough decline | -18.50% | -10.72% | -7.78% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.65% | 1.99% | +1.66% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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