SPXU – ProShares UltraPro Short S&P 500

About SPXU

SPXU (ProShares UltraPro Short S&P 500) is a inverse leveraged S&P 500 ETF from ProShares. It aims to deliver −3× the daily percentage change of the S&P 500, for a single day only. We don't show an expense ratio for SPXU because the figures in our sources didn't match; check the issuer's fact sheet for the current fee.

What it tracks

It is built on the S&P 500, an index of about 500 large US companies. SPXU aims to move −3 times the index's percentage change on each trading day.

What to keep in mind

Because of the daily reset, SPXU is designed for very short holding periods; over months, a rising or choppy S&P 500 can shrink its value sharply, and its return can end up far from −3 times the index's change.

How the daily reset works

A leveraged or inverse ETF rebalances at the end of every trading day so that it starts the next day with the target exposure again. That is why its return over any period longer than one day depends on the path the index took, not just where it ended. Example: if an index rises 10% and then falls 10%, it is down 1% (1.10 × 0.90); a 3× fund rises 30% and then falls 30%, ending down 9% (1.30 × 0.70) before fees. The more the index swings, the bigger this gap becomes. Issuers describe these funds as intended for short holding periods.

On this page

The SPXU price above comes from the US regular trading session via Yahoo Finance and may be delayed; it updates automatically while this page is open. The chart switches between 1 day, 1 week, 1 month and 1 year, and the 1-week, 1-month and 1-year returns are price returns adjusted for share splits, not including distributions. The table below compares SPXU with the other funds in the same category, and you can set a free price alert to be notified when SPXU crosses a level you choose.

Other ETFs on this site built on the S&P 500: UPRO (3×), SPY (1×), VOO (1×). See all ETF categories or today's ETF heat map.