- Last Ratings Update:11/30/2014
- Price as of 11/30/2014 :$20.49
- Net Assets:$440.1 Million
- Peer Rank:111 of 275
- Investment Rating:C-
We rate ProShares UltraShort Euro at C-. This overall rating indicates it is among the top 10% of all closed end funds in its peer group. Positive factors that influence this rating include a low price volatility and low expense structure. The fund may be considered for investors seeking a Non-US Equity strategy.
POSITIVES AND RISKS
Total return ranks below peers over the last three years. The ProShares UltraShort Euro has returned an annual rate of -3.10% since inception. More recently, the fund has generated a total return of 3.29% in the last five years, 2.56% in the last three years, and 16.89% in the last year. How does that compare to other equity funds? In the last five years, it has outperformed 24% of them. It has also outpaced 25% of its competitors on a three year basis and 74% of them over the last year for the period ending 11/30/2014. On a year to date basis, EUO has returned 20.11%.
Downside risk has been below average. EUO has a draw down risk of -24.38%, which is the largest price decline experienced over the last three years. This fund has a three year standard deviation of 15.8%. This fund has had moderate volatility in its monthly performance over the last 36 months. As of 11/30/2014, the fund was trading at a price of $20.49, which is 1.3% below its 52-week high of $20.75 and 2.5% above its 52-week low of $20.00.
High expense ratio hinders performance. On total assets of $440.10 million, EUO maintains a high expense ratio compared to its Non-US Equity peers of 0.95% to cover all operating costs. Brokerage costs for the fund to buy and sell shares are not included in the expense ratio. As EUO is an exchange traded fund, it has no front end or back end load.
The ProShares UltraShort Euro is managed by Michael Neches at ProShare Advisors LLC. This fund is one of 146 ProShare Advisors LLC exchange-traded funds launched since 6/19/2006 that we track.
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