ProShares MSCI EAFE Dividend Growers ETF

ProShares MSCI EAFE Dividend Growers ETF (EFAD) tracks the MSCI EAFE Dividend Masters Index. The index holds developed-market companies outside the US and Canada that have raised their dividends every year for at least 10 years. Its 0.50% expense ratio is well above the 0.19% average of similar funds. With about $65 million in net assets as of August 31, 2026, it is also much smaller than rivals such as Vanguard's VIGI.

• Over the year to Oct 27, 2026, EFAD returned +10.0%, 7th of 7 among similar funds.
• Its 5-year annualized return was +2.0% and its 10-year +5.8%.
• In the 2020 COVID crash it fell 32% and regained its old high 6.4 months after the low.
• Its worst full calendar year was 2022 (-21.3%); its best was 2019 (+24.7%).
• The deepest fall in its price history was 35.7% (Sep 3, 2021 to Oct 14, 2022), recovered by Jul 28, 2026.

As of Aug 31, 2026, the fund held 80 securities; the ten largest made up 16.17% of assets, and 2.56% sat in cash and money-market holdings.

• Over the three months to Aug 31, 2026, investors added a net $0.00 (creations minus redemptions, per the N-PORT report).
• Monthly total returns reported for that quarter: -0.10%, +2.24%, +3.18%.

EFAD starts from the MSCI EAFE Index. That index covers large and mid-sized companies in 21 developed countries, not including the US and Canada. The fund's own index, the MSCI EAFE Dividend Masters Index, keeps only the companies in that group that have raised their dividend every year for at least 10 years. ProShare Advisors must put at least 80% of total assets into index stocks or into investments that behave like them. The fund stays fully invested whatever the market is doing.

The fund usually uses "replication," which means it buys every stock in the index in roughly the same proportions. It can switch to "representative sampling," buying only a subset that resembles the index, when some stocks are hard or costly to trade. As of August 31, 2026, it held 80 stocks and no derivatives. The 10 largest made up only 16% of assets, led by CSL at about 2.2%, then Pro Medicus, Sika and Fisher & Paykel Healthcare at about 1.7% each. By country, Japan was 23%, the UK about 14%, Switzerland about 13% and Australia 12%. Portfolio turnover was 38%.

As with any ETF, the price you pay on the exchange can be a little above or below the value of the fund's holdings.

• EFAD charges 0.5% a year, versus an average of 0.19% for the similar funds below (7th of 7, cheapest first).
• Using the prospectus's standard example, $10,000 invested would cost about $51 in the first year and $628 over 10 years (assuming a 5% annual return).

It adds international developed-market stocks from companies with long dividend-growth records, which can broaden a portfolio that holds mostly US stocks.

EFAD gives exposure to companies in Japan, Europe and Australia, and its returns rise and fall with foreign currencies as well as stocks. It paid a 2.45% trailing yield, in quarterly payments, as of October 27, 2026. Its downturns have been deep. The fund launched in 2014, so it has no record from 2008. It fell 32% in the 2020 COVID crash and recovered in about six months. In 2022, its worst calendar year, it lost 21.1%. Its deepest drop was 35.7%, from September 2021 to October 2022, and it took about 45 months to recover, until July 28, 2026. Someone who had to sell shares during that period would have locked in losses. Costs add up too: about $628 over 10 years on a $10,000 investment in the SEC's standard example. Past results don't predict future ones, and a retirement plan should look at the whole portfolio, not one fund.

Matched by closest holdings overlap from the latest N-PORT reports (no similar fund shares 20% or more of its holdings).