ProShares MSCI Europe Dividend Growers ETF

ProShares MSCI Europe Dividend Growers ETF (EUDV) tracks the MSCI Europe Dividend Masters Index: European companies that have raised dividends every year for at least 10 years, held in equal amounts. Dividend records, not company size, drive its holdings. The catch is cost and scale: a 0.55% annual fee, versus 0.06% to 0.09% for low-cost Europe funds such as VGK and BBEU, and just $8.6 million in assets as of August 31, 2026.

• Over the year to Oct 27, 2026, EUDV returned +4.1%, 7th of 7 among similar funds.
• Its 5-year annualized return was +2.4% and its 10-year +6.8%.
• In the 2020 COVID crash it fell 35.7% and regained its old high 7.8 months after the low.
• Its worst full calendar year was 2022 (-24.9%); its best was 2019 (+25.9%).
• The deepest fall in its price history was 37.5% (Sep 2, 2021 to Sep 27, 2022), recovered by May 2, 2025.

As of Aug 31, 2026, the fund held 50 securities; the ten largest made up 24.62% of assets, and 2.14% 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: -1.15%, +1.86%, +2.82%.

EUDV aims to match, before fees and expenses, the MSCI Europe Dividend Masters Index, which MSCI Inc. builds and maintains. The index starts from the MSCI Europe Index, which covers large and mid-size companies in developed European countries — 15 of them as of May 31, 2026. It keeps only companies that have raised their dividend every year for at least 10 years, and it holds at least 25 stocks.

Each stock gets the same weight, whatever the company's size. MSCI reviews which companies qualify once a year, in November, and resets the weights to equal each quarter, in February, May, August and November. Between resets, rising stocks drift above their target and falling ones drift below. As of August 31, 2026, the fund held 50 stocks, led by Sika (2.8%), SAP (2.6%) and Symrise (2.5%); the top ten made up 24.6% of assets.

ProShare Advisors normally uses “replication,” buying every index stock in about the same proportions as the index. It may instead hold a “representative sample” — a subset chosen to behave like the whole index — when buying every stock is impractical, costly or restricted. At least 80% of assets must be in index stocks or similar instruments. Because the stocks trade in foreign currencies, moves against the US dollar can add to or cut returns.

• EUDV charges 0.55% a year, versus an average of 0.25% for the similar funds below (5th of 7, cheapest first).
• Using the prospectus's standard example, $10,000 invested would cost about $56 in the first year and $689 over 10 years (assuming a 5% annual return).

It adds European dividend-growing companies and foreign-currency exposure that a US-heavy portfolio may lack, though it has dropped sharply in market sell-offs.

EUDV could add European companies and currencies to a portfolio built mostly on US stocks, but it has had deep drops. It launched in 2015, so it has no 2008 record. In the 2020 COVID crash it fell 35.7%, then recovered within 7.8 months of the low. From January to September 2022 it fell 35.9% and needed 23.6 months to recover. 2022 was its worst calendar year, a 24.97% loss. Its deepest drop, 37.5% from September 2021 to September 2022, wasn't fully recovered until May 2025. Anyone selling shares to fund spending during those stretches would have sold at depressed prices.

Income is modest: a trailing 12-month yield of 1.98% as of October 27, 2026, paid quarterly. The 0.55% annual expense ratio is more than double the 0.25% average of similar funds. Past results don't predict future ones, and a 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).