Ultra DJ-UBS Commodity
ProShares Ultra DJ-UBS Commodity seeks daily investment results, before fees and expenses, that correspond to twice (200%) the daily performance of the Dow Jones—UBS Commodity Index SM.
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Index/Benchmark Summary
The Dow Jones—UBS Commodity Index SM is a highly liquid and diversified benchmark that allows investors to track the commodity futures market. It is composed of futures contracts on 19 physical commodities.
Unlike equities, which entitle the holder to a continuing stake in a corporation, commodity futures contracts specify a delivery date for an underlying physical commodity. The Dow Jones—UBS Commodity Index purchases futures contracts of a commodity, and, as the date for a futures contract comes due, the DJ—UBSCI sells that contract and purchases a new short-term contract with delivery dates a few months out. The Dow Jones—UBS Commodity index thus "rolls" its futures positions, and continually avoids delivery of the physical commodity.
The Dow Jones—UBS Commodity Index is valued using the settlement prices for the underlying futures contracts. The DJ—UBSCI rolls its contracts over the course of 5 consecutive business days, starting on the 6th business day of the month. Each day, 20% of each futures position that is included in the month’s roll is rolled. Not all contracts are rolled every month. Visit Dow Jones Indexes for a list of futures and their roll months.
As of 12/31/11
| Top 10 Index Constituents 1 | Weight |
|---|---|
| Crude Oil Futures, 3/11 | 17.28% |
| Gold Futures, 2/11 | 12.71% |
| Natural Gas Futures, 3/11 | 8.18% |
| Corn Futures, 3/11 | 7.98% |
| Soybeans Futures, 3/11 | 7.33% |
| Copper Futures, 3/11 | 6.37% |
| Aluminum Futures, 3/11 | 4.44% |
| Heating Oil Futures, 3/11 | 4.40% |
| Live Cattle Futures, 2/11 | 4.07% |
| Wheat Futures, 3/11 | 4.06% |
1 = ProShares may invest in financial instruments (including derivatives) that, in combination, should have similar daily price return characteristics to the fund's benchmark.
| Index Sub-sector Weightings 2 | Weight |
|---|---|
| Energy | 33.90% |
| Grains | 22.23% |
| Precious Metals | 16.07% |
| Industrial Metals | 14.92% |
| Softs | 6.56% |
| Livestock | 6.32% |
2 = Sum of weightings may not equal 100% due to rounding.