ProShares Short MSCI Emerging Markets (EUM) seeks daily investment results that correspond to the inverse (-1x) of the daily performance of the MSCI Emerging Markets Index, which measures the performance of large- and mid-cap companies across 24 emerging market countries including China, Taiwan, India, South Korea, Brazil, and South Africa; the fund achieves its objective through derivatives such as swaps on iShares MSCI Emerging Markets ETF (EEM) with counterparties including Bank of America NA, Societe Generale, Citibank NA, UBS AG, and Goldman Sachs International, as well as cash equivalents and net other assets. Launched on October 30, 2007, and managed by ProShare Advisors LLC, a Bethesda, Maryland-based firm founded in 2006 as part of ProFunds Group established in 1997, EUM trades on NYSE Arca with options available, quarterly distributions, a net expense ratio of 0.95% (with contractual waiver through September 30, 2026), and a NAV calculation at 4:00 p.m. ET. The ETF targets sophisticated investors seeking to profit from downturns in emerging market equities or to hedge long positions, with exposure resetting daily to mitigate compounding effects over longer periods.
In recent developments, ProShares has expanded its product lineup with launches including three futures-based XRP ETFs in April 2025, a suite of Dynamic Buffer ETFs in June 2025 designed to provide adaptive volatility protection on U.S. stock indexes, its first single-stock ETF ProShares Ultra CRCL (CRCA) targeting 2x daily returns of Circle Internet Group in August 2025 amid stablecoin regulatory advancements, and its inaugural interval fund focused on private equity strategies in October 2025. These innovations underscore ProShares' ongoing commitment to leveraged, inverse, and alternative strategies across cryptocurrencies, equities, and private markets, while maintaining EUM's core focus on short emerging markets exposure without reported fund-specific changes such as rebranding or structural shifts. The firm operates globally from its headquarters in Bethesda, Maryland, serving institutional and retail investors through a broad ETF platform emphasizing risk management and tactical opportunities.