ProShares Short MSCI Emerging Markets

10-Year Study

EUM.US · · US · ETF

Executive Summary: ProShares Short MSCI Emerging Markets has compounded at -9.7% annually over the last 10 years, with a maximum drawdown of 63.7% and an annualized volatility of 17.0%.

1Y CAGR
-29.6%
3Y CAGR
-14.4%
5Y CAGR
-3.7%
10Y CAGR
-9.7%

History & Riski10-year historical performance analysis including CAGR, Max Drawdown, Sharpe & Sortino ratios, annual returns, and rolling volatility — all computed from daily market data.

10-Year Growth of $10,000

Max DrawdownMax DrawdownThe largest peak-to-trough decline in the asset's value over the measurement period.Click for full definition →
63.7%
Sharpe RatioSharpe RatioRisk-adjusted return: how much excess return you earn per unit of total risk (volatility).Click for full definition →
-0.79
Sortino RatioSortino RatioLike Sharpe, but only penalizes downside volatility — a more accurate risk measure for asymmetric return distributions.Click for full definition →
-1.31
Ann. VolatilityAnnualized VolatilityThe annualized standard deviation of an asset's returns — a measure of how much prices fluctuate.Click for full definition →
16.0%
Best YearBest & Worst YearThe single calendar year with the highest and lowest return in the measured period.Click for full definition →
2022 · +21.1%
Worst YearBest & Worst YearThe single calendar year with the highest and lowest return in the measured period.Click for full definition →
2017 · -28.1%
% Positive Years% Positive YearsThe percentage of calendar years in the measurement period where the asset delivered a positive return.Click for full definition →
20%

Annual Returns

Rolling 12-Month Returns

Rolling 12-Month Annualised Volatility

Historical Drawdowns

Monthly Returns

Monthly Returns Heatmap

YearJanFebMarAprMayJunJulAugSepOctNovDecAnn.
2026-7.3-5.39.0-9.2————————-13.1%
2025-1.6-0.7-1.0-0.9-3.3-6.1-0.4-2.1-6.0-3.22.0-1.7-22.6%
20245.4-3.6-2.10.7-1.3-2.1-0.5-0.6-5.03.73.12.0-0.8%
2023-8.28.7-3.01.13.0-3.7-5.37.53.83.9-6.9-3.2-3.9%
2022-0.44.12.35.8-1.14.90.11.613.01.7-13.73.121.1%
2021-3.4-1.2-0.2-1.4-2.0-1.26.1-1.83.6-1.33.7-1.8-1.3%
20206.03.511.5-8.1-3.4-6.9-8.3-3.10.8-1.8-8.7-6.9-24.4%
2019-9.51.5-1.1-2.17.6-5.72.83.8-1.6-4.10.1-6.9-15.3%
2018-7.75.2-0.72.82.54.5-3.33.50.69.0-4.83.414.6%
2017-6.3-1.9-3.7-1.8-2.9-1.0-5.5-2.4-0.2-3.10.2-3.6-28.1%
2016———-0.83.4-5.3-5.2-1.2-3.10.74.00.0-7.8%

Risk X-RayiA 19-factor macroeconomic risk decomposition showing exactly which market forces (equity beta, rates, inflation, credit, commodity, crypto) drive this asset's volatility. Powered by multivariate regression against daily factor returns.

Risk Profile Insight: This asset has an estimated annualized volatility of 17.0%. The dominant macroeconomic risk driver is VWO.US, accounting for 69.4% of variance. Idiosyncratic stock-specific factors contribute 0.7%.

10-Year Historical Price Series (Growth of $10,000)
DateSimulated Value
2016-03-0110000
2016-04-019918.756691033961
2016-05-0110254.79884695188
2016-06-019708.276261440198
2016-07-019198.678567536439
2016-08-019091.579287016242
2016-09-018807.249074206638
2016-10-018866.333174493619
2016-11-019217.141013340399
2016-12-019217.141013340399
2017-01-018637.368930524364
2017-02-018471.20691828872
2017-03-018157.323971049859
2017-04-018013.299798921741
2017-05-017776.963397773822
2017-06-017695.720088807784
2017-07-017274.737861048727
2017-08-017101.182323062887
2017-09-017090.1134030091225
2017-10-016868.542684790064
2017-11-016879.611604843828
2017-12-016628.5095207670465
2018-01-016118.911826863287
2018-02-016436.491536977244
2018-03-016388.476356744029
2018-04-016569.425420480066
2018-05-016735.608801287242
2018-06-017037.69629704024
2018-07-016804.949815909757
2018-08-017045.089822790437
2018-09-017084.984945841356
2018-10-017721.66153464807
2018-11-017347.797007117872
2018-12-017595.800648322461
2019-01-016876.812321973088
2019-02-016981.133688194078
2019-03-016905.766736399438
2019-04-016760.1185528348615
2019-05-017271.78899817726
2019-06-016857.495133307835
2019-07-017052.461979969101
2019-08-017318.65027554773
2019-09-017201.12313211974
2019-10-016907.647170694287
2019-11-016915.19027644521
2019-12-016436.17100840426
2020-01-016824.737113148723
2020-02-017066.201971464408
2020-03-017880.771918278036
2020-04-017242.599529464055
2020-05-016993.3778796821225
2020-06-016510.042160191633
2020-07-015968.177923274007
2020-08-015785.027896670136
2020-09-015830.329268318743
2020-10-015726.499379242998
2020-11-015226.15427681275
2020-12-014867.418697927463
2021-01-014701.278054263351
2021-02-014644.62997113106
2021-03-014633.304628218908
2021-04-014569.113439335694
2021-05-014478.489327466948
2021-06-014425.623481495885
2021-07-014697.495817102123
2021-08-014610.653942394605
2021-09-014778.6963889250965
2021-10-014716.385634336731
2021-11-014890.090752323298
2021-12-014803.227509044248
2022-01-014784.359060381173
2022-02-014980.714864192043
2022-03-015093.989661885093
2022-04-015388.534051887165
2022-05-015328.103731593646
2022-06-015588.672092859265
2022-07-015596.215198610188
2022-08-015686.839310478934
2022-09-016427.238945503732
2022-10-016537.137508894668
2022-11-015642.777315979204
2022-12-015817.337176827066
2023-01-015341.43772022984
2023-02-015805.904991057254
2023-03-015632.328084499879
2023-04-015693.4635676539665
2023-05-015865.41646277488
2023-06-015645.6193359930085
2023-07-015346.245648824623
2023-08-015749.556067926415
2023-09-015969.56688042361
2023-10-016203.039892986194
2023-11-015774.984668049926
2023-12-015591.108110013954
2024-01-015895.353831491719
2024-02-015684.125501894324
2024-03-015562.239169873734
2024-04-015600.082910057546
2024-05-015526.211758270172
2024-06-015411.590740570583
2024-07-015386.717723306915
2024-08-015354.664866008372
2024-09-015087.002138994011
2024-10-015274.361774189758
2024-11-015437.275763552482
2024-12-015544.631466931067
2025-01-015457.960540795809
2025-02-015417.317517741257
2025-03-015360.904488895822
2025-04-015313.145731520994
2025-05-015138.863662103053
2025-06-014825.707246296293
2025-07-014806.881534776282
2025-08-014704.291022849414
2025-09-014422.268615765304
2025-10-014280.210352218164
2025-11-014364.103364054216
2025-12-014290.809163698215
2026-01-013976.6911621725
2026-02-013765.14230400212
2026-03-014102.7657342134335
2026-04-013726.678875243869
Annual Return Matrix
YearAnnual Return
2017-0.2808497221455878
20180.14592890370375144
2019-0.15266720305176862
2020-0.24373999827356085
2021-0.013187932427211724
20220.2111308835305632
2023-0.03888876644700601
2024-0.00831259960787456
2025-0.2261326673757882
2026-0.13147410358565725
Total Factor Risk
0.16999204857452466
VTI.US Exposure
-0.14918072962278814
VEA.US Exposure
0.11638510448226809
VWO.US Exposure
0.6944214940357816
QQQ.US Exposure
0.08992365656321619
VTV.US Exposure
0.05182352816235733
IJR.US Exposure
0.0026747155598036013
QUAL.US Exposure
0.014510608943312023
SHV.US Exposure
0.16820880234211372
TLT.US Exposure
0.011092194481844224
LQD.US Exposure
0.00901832394569941
HYG.US Exposure
-0.005522803536470404
GLD.US Exposure
0.021029493661382584
USO.US Exposure
-0.00416557042988493
VNQ.US Exposure
0.0074389520165726065
BTC-USD.CC Exposure
-0.0003599913309550939
CPER.US Exposure
-0.008586485357764389
VIX.INDX Exposure
-0.005895970756129763
UUP.US Exposure
-0.012810986141573747
TIP.US Exposure
-0.007209047737630653
Idiosyncratic Exposure
0.007204710718845666
Value Score
50
Growth Score
50
Profit Score
37.5
Health Score
23.6
Yield Score
0
Moat Score
40

Factor Risk Decomposition

Share of annualised volatility attributable to each macro factor.

Total Est. Vol
17.0%

FundamentalsiCompany financial health metrics: P/E valuation, dividend yield, Piotroski F-Score (9-point profitability signal), Altman Z-Score (bankruptcy risk proxy), and a radar chart across 6 fundamental dimensions. Note: ETFs may show N/A for some metrics.

Fundamental Dimensions

Core Valuation

P/E Ratio (TTM)P/E RatioPrice-to-Earnings ratio — the market price of a stock divided by its earnings per share, a key valuation measure.Click for full definition →N/A
Dividend YieldDividend YieldAnnual dividend paid per share divided by the current share price — expressed as a percentage income return.Click for full definition →0.00%
Market Cap$0
Piotroski F-ScorePiotroski F-ScoreA 9-point scoring system evaluating a company's financial strength across profitability, leverage, and operating efficiency.Click for full definition →
9-point profitability signal
0.0/ 9
Weak
Altman Z-ScoreAltman Z-ScoreA bankruptcy prediction model that combines 5 financial ratios into a single score indicating financial distress risk.Click for full definition →
Bankruptcy risk proxy
1.18
Distress Zone
Income Simulation

Based on $10,000 initial investment.

Total Income Generated
$17
Avg Yield on Cost
0.17%
Annual Income Simulation Table
Historical Realised Yields
YearAnnual PayoutYield on CostQuality
2026$16.670.17%Solid

Momentum & MacroiPrice momentum indicators relative to key technical levels: distance from 50-Day SMA (intermediate trend), 200-Day SMA (long-term trend), 52-Week High (bullish proximity), and Beta (market sensitivity coefficient).

vs 50-Day SMAMoving Averages (SMA)A rolling average of an asset's price over a defined window — used to identify trends and momentum signals.Click for full definition →
-5.9%
Above/below 50-day moving average
vs 200-Day SMAMoving Averages (SMA)A rolling average of an asset's price over a defined window — used to identify trends and momentum signals.Click for full definition →
-13.7%
Above/below 200-day moving average
vs 52-Week High52-Week HighThe highest price an asset reached in the past 52 weeks — a key reference for momentum and valuation context.Click for full definition →
33.3% from high
Distance from 52-week high
BetaBetaA measure of an asset's sensitivity to broad market movements relative to a benchmark (e.g. S&P 500).Click for full definition →
-0.59
Market sensitivity coefficient

Frequently Asked Questions & Methodology

Is ProShares Short MSCI Emerging Markets a high-risk investment?

ProShares Short MSCI Emerging Markets (EUM.US) has an annualized volatility of 17.0% and experienced a maximum drawdown of 63.7% over the last 10 years. Its primary macro risk driver is VWO.US.

What is the 10-year return of EUM.US?

Over the past 10 years, EUM.US has generated a Compound Annual Growth Rate (CAGR) of -9.7%. It has had a positive return in 20% of the years measured.

Data Methodology & Trust

The risk and return information on this page is pre-calculated mathematically using daily market data spanning a 10-year period. Fundamentals (such as P/E Ratio, Market Cap, and Dividend Yield) represent trailing averages and may not immediately reflect real-time live market fluctuations. Advanced scoring models like the Piotroski F-Score and Altman Z-Score are proxies applied to publicly available trailing-twelve-month financial statements and may not account for recent off-balance-sheet events, qualitative company shifts, or sector-specific capital structures. Macroeconomic factor exposures are estimated via multivariate regression against standard market indices. This data is provided for quantitative insight and backtesting research, and should not be misconstrued as tailored financial advice.

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