USD

Ultra Semiconductors

USD seeks daily investment results, before fees and expenses, that correspond to two times (2x) the daily performance of the Dow Jones U.S. SemiconductorsSM Index.

How to Buy
Why USD?
Target Magnified Returns

USD is the only ETF that targets 2x the daily returns of the semiconductor industry.

Efficient

USD offers 2x exposure with less cash.

Convenience

Buy and sell leveraged exposure via a single ticker in a brokerage account.

This ProShares ETF seeks daily investment results that correspond, before fees and expenses, to 2x the daily performance of its underlying benchmark (the “Daily Target”).

While the Fund has a daily investment objective, you may hold Fund shares for longer than one day if you believe it is consistent with your goals and risk tolerance. For any holding period other than a day, your return may be higher or lower than the Daily Target. These differences may be significant. Smaller index gains/losses and higher index volatility contribute to returns worse than the Daily Target. Larger index gains/losses and lower index volatility contribute to returns better than the Daily Target.

The more extreme these factors are, the more they occur together, and the longer your holding period while these factors apply, the more your return will tend to deviate. Investors should consider periodically monitoring their geared fund investments in light of their goals and risk tolerance.

Performance
About the Fund
Exposures
Holdings
Index
Distributions
View fund details
Documents & Downloads
ETF & Index
Fund Fact Sheet
This links to a pdf file This link opens a new window
FAQs About Geared Funds
This links to a pdf file This link opens a new window
NAV History
This links to a pdf file This link opens a new window
Prospectus & Regulatory
Summary Prospectus
Statutory Prospectus
SAI
Annual Report
Semi-Annual Report

You may order paper copies by contacting ProShares Client Services at 866-PRO-5125 (866-776-5125)

Performance

30 Day Daily Return

Chart is updated nightly to reflect the more recent of the previous day's market closing price or the closing price on the day the fund was last traded.

Total Return

Month-End Total Returns as of 1/31/2026
Fund 1m 3m 6m YTD 1Y 3Y 5Y 10Y Since Inception Inception Date
USD NAV 11.23% -3.07% 36.72% 11.23% 112.11% 120.70% 54.27% 55.10% 26.92% 01/30/2007
USD Market Price 11.46% -3.03% 36.76% 11.46% 112.85% 120.89% 54.43% 55.27% 26.93% 01/30/2007

The performance quoted represents past performance and does not guarantee future results. Investment return and principal value of an investment will fluctuate so that an investor's shares, when sold or redeemed, may be worth more or less than the original cost. Shares are bought and sold at market price (not NAV) and are not individually redeemed from the fund. Market price returns are based upon the midpoint of the bid/ask spread at 4:00 p.m. ET (when NAV is normally determined for most funds) and do not represent the returns you would receive if you traded shares at other times. Your brokerage commissions will reduce returns. Current performance may be lower or higher than the performance quoted. For standardized returns and performance data current to the most recent month end, see above.

About the Fund

Snapshot
  • Ticker
    USD
  • Intraday Ticker
    USD.IV
  • CUSIP
    74347R669
  • Inception Date
    1/30/07
  • Gross Expense Ratio
    0.95%
  • Net Expense Ratio
    0.95%
  • NAV Calculation Time
    4:00 p.m. ET
  • Distributions
    Quarterly
  • Options Available
    Yes
Price
as of 2/25/2026
  • NAV
    $60.83
  • NAV Change
    $+1.88 up caret
  • Market Price
    $60.82
  • Market Price Change
    $+1.85 up caret
  • Trading Volume (M)
    631,191
  • View Premium / Discount
Snapshot
  • Ticker
    USD
  • Intraday Ticker
    USD.IV
  • CUSIP
    74347R669
  • Inception Date
    1/30/07
  • Gross Expense Ratio
    0.95%
  • Net Expense Ratio
    0.95%
  • NAV Calculation Time
    4:00 p.m. ET
  • Distributions
    Quarterly
  • Options Available
    Yes
Price
as of 2/25/2026
  • NAV
    $60.83
  • NAV Change
    $+1.88 up caret
  • Market Price
    $60.82
  • Market Price Change
    $+1.85 up caret
  • Trading Volume (M)
    631,191
  • View Premium / Discount

Expenses with Contractual Waiver through September 30, 2026. Without the fee waiver performance would likely be lower.

Exposures

Index as of 12/31/2025

Holdings

as of 2/25/2026

Exposure Weight Ticker Description Exposure Value
(Notional + GL)		 Market Value Shares/Contracts SEDOL Number
23.95% NVDA NVIDIA CORP -- $464,912,219.30 2,377,338 2379504
7.91% AVGO BROADCOM INC -- $153,554,137.10 462,081 BDZ78H9
2.42% MU MICRON TECHNOLOGY INC -- $46,976,358.00 109,502 2588184
1.73% AMD ADVANCED MICRO DEVICES -- $33,585,359.08 159,278 2007849
1.59% AMAT APPLIED MATERIALS INC -- $30,789,512.10 77,958 2046552
1.58% LRCX LAM RESEARCH CORP -- $30,659,096.16 122,892 BSML4N7
1.06% INTC INTEL CORP -- $20,567,662.40 438,730 2463247
1.03% KLAC KLA CORP -- $19,905,771.60 12,870 2480138
0.98% TXN TEXAS INSTRUMENTS INC -- $19,016,993.40 88,906 2885409
0.89% ADI ANALOG DEVICES INC -- $17,370,355.20 48,144 2032067
0.79% QCOM QUALCOMM INC -- $15,279,748.70 104,785 2714923
0.35% MRVL MARVELL TECHNOLOGY INC -- $6,830,052.60 84,405 BNKJSM5
0.30% NXPI NXP SEMICONDUCTORS NV -- $5,778,255.67 24,581 B505PN7
0.30% MPWR MONOLITHIC POWER SYSTEMS INC -- $5,777,845.50 4,690 B01Z7J1
0.27% TER TERADYNE INC -- $5,255,773.42 15,331 2884183
0.21% MCHP MICROCHIP TECHNOLOGY INC -- $3,991,080.01 52,883 2592174
0.14% ON ON SEMICONDUCTOR -- $2,743,998.40 39,380 2583576
0.13% Q QNITY ELECTRONICS INC -- $2,456,770.42 20,497 BW1P234
0.10% ENTG ENTEGRIS INC -- $2,036,752.20 14,830 2599700
0.09% CRDO CREDO TECHNOLOGY GROUP HOLDI -- $1,842,023.20 14,920 BLD13F2
0.09% MKSI MKS INC -- $1,681,584.61 6,571 2404871
0.09% ALAB ASTERA LABS INC -- $1,651,084.60 12,884 BMTQ7V2
0.08% MTSI MACOM TECHNOLOGY SOLUTIONS H -- $1,588,123.16 6,268 B5B15Y5
0.07% LSCC LATTICE SEMICONDUCTOR CORP -- $1,352,215.53 13,379 2506658
0.06% ONTO ONTO INNOVATION INC -- $1,080,155.12 4,796 BKZ7N95
0.05% RMBS RAMBUS INC -- $1,065,488.60 10,540 2721967
0.04% SWKS SKYWORKS SOLUTIONS INC -- $869,722.98 14,539 2961053
0.04% CRUS CIRRUS LOGIC INC -- $716,557.87 4,991 2197308
0.03% QRVO QORVO INC -- $677,411.00 8,225 BR9YYP4
0.03% SLAB SILICON LABORATORIES INC -- $656,374.40 3,215 2568131
0.03% ENPH ENPHASE ENERGY INC -- $620,914.45 12,805 B65SQW4
0.03% AMKR AMKOR TECHNOLOGY INC -- $566,809.38 11,127 2242929
0.03% GFS GLOBALFOUNDRIES INC -- $504,284.06 10,321 BMW7F63
0.02% ALGM ALLEGRO MICROSYSTEMS INC -- $462,776.80 12,140 BN4LSB6
0.02% OLED UNIVERSAL DISPLAY CORP -- $459,345.86 4,331 2277880
-- -- DJ U.S. SEMICONDUCTORS INDEX SWAP UBS AG 540,679,906 -- 17,528 --
-- -- DJ U.S. SEMICONDUCTORS INDEX SWAP MORGAN STANLEY & CO. INTERNATIONAL PLC 483,860,395 -- 15,686 --
-- -- DJ U.S. SEMICONDUCTORS INDEX SWAP BANK OF AMERICA NA 463,995,159 -- 15,042 --
-- -- DJ U.S. SEMICONDUCTORS INDEX SWAP BNP PARIBAS 460,201,022 -- 14,919 --
-- -- DJ U.S. SEMICONDUCTORS INDEX SWAP CITIBANK NA 386,724,326 -- 12,537 --
-- -- DJ U.S. SEMICONDUCTORS INDEX SWAP JPMORGAN CHASE BANK NA 328,455,023 -- 10,648 --
-- -- DJ U.S. SEMICONDUCTORS INDEX SWAP SOCIETE GENERALE 268,951,854 -- 8,719 --
-- -- DJ U.S. SEMICONDUCTORS INDEX SWAP BARCLAYS CAPITAL 55,554,799 -- 1,801 --
-- -- DJUSSC SWAP GOLDMAN SACHS INTERNATIONAL 4,040,910 -- 131 --
-- IQMM PROSHARES GENIUS MNY MKT ETF -- $650,520,000.00 6,500,000 BTGTPK8
-- -- TREASURY BILL -- $133,406,160.20 133,500,000 BVN7QZ1
-- -- NET OTHER ASSETS (LIABILITIES) -- $253,837,182.92 253,837,183 --
Download Holdings (.csv)This links to a pdf fileThis link opens a new window

Index

as of 12/31/2025

  • Total Number of Companies35
  • Price/Earnings Ratio38.89
  • Price/Book Ratio12.55
  • Dividend Yield ( % )0.45
  • Avg. Index Market Capitalization$243.67 billion
About the Index

The Dow Jones U.S. Semiconductors Index is designed to measure the performance of U.S. companies in the semiconductors subsector. The semiconductor subsector includes producers and distributors of semiconductors and other integrated chips, including other products related to the semiconductor industry, such as semiconductor capital equipment and motherboards.

Distributions

For

2026
  • 2026
  • 2025
  • 2024
  • 2023
  • 2022
  • 2020
  • 2019
  • 2018
  • 2017
  • 2016
Ex-Dividend Date Record Date Payable Date Dividend Long-Term Capital Gain Short-Term Capital Gain Return of Capital
Get the latest perspectives and updates.

For the total return table above, since inception returns are cumulative for funds less than one year old; otherwise, returns are annualized. Market returns are based on the composite closing price and do not represent the returns you would receive if you traded shares at other times. The listing date is typically one or more days after the fund inception date. Therefore, NAV is used to calculate market returns prior to the listing date.

The expense ratio for certain funds includes a contractual fee waiver that results in a lower net expense ratio for some or all periods shown. For information about this ETF’s fees, please see above.

Holdings are subject to change. ProShares may invest in financial instruments (including derivatives) that, in combination, should have daily price return characteristics similar to the fund's benchmark.

Registered Investment Companies are required by the IRS to distribute substantially all of their income and capital gains to shareholders at least annually. For specific tax advice, we recommend you speak with a qualified tax professional.

This ProShares ETF seeks daily investment results that correspond, before fees and expenses, to 2x the daily performance of its underlying benchmark (the “Daily Target”). While the Fund has a daily investment objective, you may hold Fund shares for longer than one day if you believe it is consistent with your goals and risk tolerance. For any holding period other than a day, your return may be higher or lower than the Daily Target. These differences may be significant. Smaller index gains/losses and higher index volatility contribute to returns worse than the Daily Target. Larger index gains/losses and lower index volatility contribute to returns better than the Daily Target. The more extreme these factors are, the more they occur together, and the longer your holding period while these factors apply, the more your return will tend to deviate. Investors should consider periodically monitoring their geared fund investments in light of their goals and risk tolerance.

The performance quoted represents past performance and does not guarantee future results. Investment return and principal value of an investment will fluctuate so that an investor's shares, when sold or redeemed, may be worth more or less than the original cost. Shares are bought and sold at market price (not NAV) and are not individually redeemed from the fund. Market price returns are based upon the midpoint of the bid/ask spread at 4:00 p.m. ET (when NAV is normally determined for most funds) and do not represent the returns you would receive if you traded shares at other times. Your brokerage commissions will reduce returns. Current performance may be lower or higher than the performance quoted. For standardized returns and performance data current to the most recent month end, see above.

Index information does not reflect any management fees, transaction costs or expenses. Indexes are unmanaged, and one cannot invest directly in an index.

There is no guarantee that capital gain distributions will not be made in the future. There is no guarantee that dividends or interest income will be paid.

There is no guarantee any ProShares ETF will achieve its investment objective.

Shares of any ETF are generally bought and sold at market price (not NAV) and are not individually redeemed from the fund. Your brokerage commissions will reduce returns.

Investing involves risk, including the possible loss of principal. Leveraged ProShares ETFs are non-diversified and entail certain risks, including risk associated with the use of derivatives (swap agreements, futures contracts and similar instruments), imperfect benchmark correlation, leverage and market price variance, all of which can increase volatility and decrease performance. Please see their summary and full prospectuses for a more complete description of risks.

The fund concentrates its investments in certain sectors. Narrowly focused investments typically exhibit higher volatility.

Carefully consider the investment objectives, risks, charges and expenses of ProShares before investing. This and other information can be found in their summary and full prospectuses. Read them carefully before investing.

The "Dow Jones U.S. Semiconductors IndexSM" is a product of Dow Jones Indexes, the marketing name and a licensed trademark of CME Group Index Services LLC ("CME Indexes"). "Dow Jones,®" "DJ," "Dow Jones Indexes" and "Dow Jones U.S. Semiconductors Index" are service marks of Dow Jones Trademark Holdings, LLC ("Dow Jones") and have been licensed to CME Indexes and sublicensed to ProShares. ProShares have not been passed on by CME Indexes or Dow Jones as to their legality or suitability. ProShares based on the Dow Jones U.S. Semiconductors Index are not sponsored, endorsed, sold or promoted by CME Indexes or Dow Jones, and they make no representation regarding the advisability of investing in ProShares. THESE ENTITIES AND THEIR AFFILIATES MAKE NO WARRANTIES AND BEAR NO LIABILITY WITH RESPECT TO PROSHARES.

Quote data provided by Interactive Data - Real Time Services, Inc. and subject to terms of use.

ProShares are distributed by SEI Investments Distribution Co., which is not affiliated with the funds’ advisor or sponsor.

Your use of this site signifies that you accept our Terms and Conditions of Use.