Ultra Telecommunications - LTL Ultra Telecommunications

ProShares Ultra Telecommunications seeks daily investment results, before fees and expenses, that correspond to two times (2x) the daily performance of the Dow Jones U.S. Select TelecommunicationsSM Index.

This leveraged ProShares ETF seeks a return that is 2x the return of its underlying benchmark (target) for a single day, as measured from one NAV calculation to the next. Due to the compounding of daily returns, holding periods of greater than one day can result in returns that are significantly different than the target return and 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 as frequently as daily. Investors should consult the prospectus for further details on the calculation of the returns and the risks associated with investing in this product.

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Index/Benchmark Summary

The Dow Jones U.S. Select Telecommunications IndexSM measures providers of fixed-line and mobile telephone services. Fixed-line includes regional and long-distance carriers. Mobile includes cellular, satellite and paging services.

Fundamentals as of 3/31/20

Total Number of Companies 40
Price/Earnings Ratio 16.80
Price/Book Ratio 1.89
Dividend Yield *(%) 3.37
Average Index Market Capitalization $21.02 billion

* Derivative contracts are priced to reflect the underlying index yield and will not generate dividend income. Because ProShares invest in derivatives, they will not have dividend distributions that reflect those of their applicable indexes.

Index Holdings Information as of 3/31/20

Top 10 Index Companies Weight
Verizon Communications Inc. 21.60%
AT&T Inc. 19.38%
Arista Networks Inc. 5.00%
T-Mobile US Inc. 4.93%
Cisco Systems Inc. 4.63%
Garmin Ltd. 4.57%
CenturyLink Inc. 4.00%
Motorola Solutions Inc. 3.92%
F5 Networks Inc. 3.31%
Juniper Networks Inc. 3.27%

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

Index Holdings as of 3/31/20

Index Sector Weightings § Weight
Diversified Telecommunication Services 50.77%
Communications Equipment 34.68%
Wireless Telecommunication Services 9.99%
Household Durables 4.57%

§ Sum of weightings may not equal 100% due to rounding.