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 Commodity Balanced WTI Crude Oil Index.

  • The fund’s benchmark is an index of crude oil futures contracts
  • It is not intended to track the performance of the spot price of WTI crude oil
  • It should be expected to perform very differently from the spot price of WTI crude oil

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 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.

ProShares Perspective on New SEC Regulations of Mutual Funds and ETFs
— read the statement.

  • Learn more about considerations for geared investing.

Important Notice Regarding Benchmark Change
— For more information please read the Press Release.

Index/Benchmark Summary

The Bloomberg Commodity Balanced WTI Crude Oil Index (ticker: BCBCLI Index) aims to track the performance of 3 separate contract schedules for WTI Crude Oil futures. One third of the index follows a monthly roll schedule, the second third of the index follows a June annual roll schedule, while the remaining third follows a December annual roll schedule.

The Index weights are equally reset semi-annually in the months of March and September on close of the first Business Day. To maintain the long position of the basket, contracts are ‘rolled’ from the expiring futures contract to a new contract farther down the futures curve with a longer expiry date. All commodities will roll on the second and the third Business Day of each calendar month.

Index Holdings Information as of 12/31/20

Top 10 Index Companies Weight
Crude Oil Futures, March 2021 34.48%
Crude Oil Futures, June 2021 33.30%
Crude Oil Futures, December 2021 32.21%

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