Ultra Bloomberg Crude Oil - UCO Ultra Bloomberg Crude Oil

ProShares Ultra Bloomberg Crude Oil seeks daily investment results, before fees and expenses, that correspond to two times (2x) the daily performance of the Bloomberg WTI Crude Oil SubindexSM.

This fund is not an investment company regulated under the Investment Company Act of 1940 and is not afforded its protections. Please read the prospectus carefully before investing.

This Ultra ProShares ETF seeks a return that is 2x the return of an index or other benchmark (target) for a single day, as measured from one NAV calculation to the next. Due to the compounding of daily returns, ProShares' returns over periods other than one day will likely differ in amount and possibly direction from the target return for the same period. These effects may be more pronounced in funds with larger or inverse multiples and in funds with volatile benchmarks. Investors should monitor their holdings consistent with their strategies, as frequently as daily. For more on correlation, leverage and other risks, please read the prospectus.

  • Read more about ProShares Oil and Gas ETFs.
  • Learn More about considerations for geared investing.

Index/Benchmark Summary

The Bloomberg WTI Crude Oil Subindex, a subindex of the Bloomberg Commodity Index, is intended to reflect the performance of crude oil as measured by the price of futures contracts of West Texas Intermediate sweet, light crude oil. The performance of the crude oil futures market is normally very different than the performance of the physical crude oil market.

It is a "rolling index," which means that it does not take physical possession of any commodities. The roll occurs over a period of five business days in certain months according to a pre-determined schedule, generally beginning on the fifth business day of the month and ending on the ninth business day. Each day, approximately 20% of each rolling futures position that is included in the month's roll is rolled, increasing from 0% to 20%, 40%, 60%, 80% and finally 100%.

The Bloomberg WTI Crude Oil Subindex will reflect the performance of its underlying crude oil futures contracts, including the impact of rolling, without regard to income earned on cash positions.