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LTL

Ultra Communication Services

Investment Objective

ProShares Ultra Communication Services seeks daily investment results, before fees and expenses, that correspond to two times (2x) the daily performance of the S&P Communication Services Select Sector Index.

How to buy
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Important Considerations

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.

Common uses for magnified exposure

  • Seeking magnified gains (will also magnify losses)

  • Getting a target level of exposure for less cash

  • Overweighting a market segment without additional cash

Documents & Downloads
Fund Fact Sheet
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Annual Report
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Semi Annual Report
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NAV History
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You may order paper copies by contacting ProShares Client Services at 866-PRO-5125 (866-776-5125)

Performance

Daily Return during Q3 2023

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 8/31/2023
Fund + Index 1m 3m 6m YTD 1Y 3Y 5Y 10Y Since Inception Inception Date
LTL Market Price -3.50% 16.26% 40.79% 44.39% 32.28% 9.42% 2.86% 3.73% 3.24% 03/25/2008
LTL NAV -3.89% 16.07% 41.04% 43.99% 32.65% 9.31% 2.74% 3.72% 3.23% 03/25/2008

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 LTL
  • Intraday Ticker LTL.IV
  • CUSIP 74347R263
  • Inception Date 3/25/08
  • Gross Expense Ratio 5.55%
  • Net Expense Ratio 0.95%*
  • NAV Calculation Time 4:00 p.m. ET
  • Distributions Quarterly
Price
as of 9/29/2023
  • NAV $42.25
  • NAV Change $-0.43 down caret
  • Market Price $42.22
  • Market Price Change $-0.48 down caret
  • Trading Volume (M) 24
  • 30-Day Median Bid Ask Spread 0.34%
  • View Premium / Discount
Snapshot
  • Ticker LTL
  • Intraday Ticker LTL.IV
  • CUSIP 74347R263
  • Inception Date 3/25/08
  • Expense Ratio 0.95%*
  • Gross Expense Ratio 5.55%
  • NAV Calculation Time 4:00 p.m. ET
  • Distributions Quarterly
Price
as of 9/29/2023
  • NAV $42.25
  • NAV Change $-0.43 down caret
  • Market Price $42.22
  • Market Price Change $-0.48 down caret
  • Trading Volume (M) 24
  • 30-Day Median Bid Ask Spread 0.34%
  • View Premium / Discount

The expense ratio above has a contractual waiver ending 9/30/23.

Exposures

Index as of 6/30/2023

Holdings

as of 9/29/2023

Exposure Weight Ticker Description Exposure Value
(Notional + GL)		 Market Value Shares/Contracts SEDOL Number
49.66% -- COMMUNICATION SERVICES SELECT SECTOR INDEX SWAP BANK OF AMERICA NA 419,917 -- 1,223 --
25.79% -- COMMUNICATION SERVICES SELECT SECTOR INDEX SWAP SOCIETE GENERALE 218,027 -- 635 --
23.35% -- COMMUNICATION SERVICES SELECT SECTOR INDEX SWAP BNP PARIBAS 197,426 -- 575 --
20.83% -- COMMUNICATION SERVICES SELECT SECTOR INDEX SWAP UBS AG 176,139 -- 513 --
16.94% META META PLATFORMS INC-CLASS A -- $143,200.17 477 B7TL820
8.68% GOOGL ALPHABET INC-CL A -- $73,412.46 561 BYVY8G0
8.00% -- COMMUNICATION SERVICES SELECT SECTOR INDEX SWAP GOLDMAN SACHS INTERNATIONAL 67,640 -- 197 --
7.44% GOOG ALPHABET INC-CL C -- $62,892.45 477 BYY88Y7
3.43% CHTR CHARTER COMMUNICATIONS INC-A -- $29,028.12 66 BZ6VT82
3.43% T AT&T INC -- $28,973.58 1,929 2831811
3.35% TMUS T-MOBILE US INC -- $28,290.10 202 B94Q9V0
3.33% ATVI ACTIVISION BLIZZARD INC -- $28,182.63 301 2575818
3.26% DIS WALT DISNEY CO/THE -- $27,557.00 340 2270726
3.24% CMCSA COMCAST CORP-CLASS A -- $27,357.78 617 2044545
3.18% VZ VERIZON COMMUNICATIONS INC -- $26,900.30 830 2090571
2.81% NFLX NETFLIX INC -- $23,788.80 63 2857817
2.46% EA ELECTRONIC ARTS INC -- $20,829.20 173 2310194
2.00% WBD WARNER BROS DISCOVERY INC -- $16,930.74 1,559 BM8JYX3
1.84% TTWO TAKE-TWO INTERACTIVE SOFTWRE -- $15,583.29 111 2122117
1.22% OMC OMNICOM GROUP -- $10,352.72 139 2279303
0.98% LYV LIVE NATION ENTERTAINMENT IN -- $8,304.00 100 B0T7YX2
0.92% IPG INTERPUBLIC GROUP OF COS INC -- $7,738.20 270 2466321
0.90% MTCH MATCH GROUP INC -- $7,639.13 195 BK80XH9
0.66% FOXA FOX CORP - CLASS A -- $5,553.60 178 BJJMGL2
0.64% NWSA NEWS CORP - CLASS A -- $5,376.08 268 BBGVT40
0.52% PARA PARAMOUNT GLOBAL-CLASS B -- $4,373.10 339 BKTNTR9
0.32% FOX FOX CORP - CLASS B -- $2,685.84 93 BJJMGY5
0.20% NWS NEWS CORP - CLASS B -- $1,690.47 81 BBGVT51
-- -- NET OTHER ASSETS (LIABILITIES) -- $238,870.21 238,870 --
Download Holdings (.csv)This links to a pdf fileThis link opens a new window

Index

as of 6/30/2023

  • Total Number of Companies24
  • Price/Earnings Ratio23.418
  • Price/Book Ratio3.153
  • Dividend Yield ( % )0.95
  • Avg. Index Market Capitalization$136.95 billion
About the Index

The Index represents the communication services sector of the S&P 500 Index (“S&P 500”). The Index is one of eleven S&P Select Sector Indices, each designed to measure the performance of a sector of the S&P 500. The Index includes equity securities of companies from the following Global Industry Classification Standard (GICS®) industries: diversified telecommunications services; wireless telecommunications services; media; entertainment; and interactive media & services.

Distributions

For

2023
  • 2023
  • 2022
  • 2021
  • 2020
  • 2019
  • 2018
  • 2017
  • 2016
  • 2015
  • 2014
Ex-Dividend Date Record Date Payable Date Dividend Long-Term Capital Gain Short-Term Capital Gain Return of Capital

Portfolio Hedging Series

Part I: The Significance of Portfolio Hedging

Investing involves risk. Market downturns will happen. Having a sound investment strategy can help smooth out the turbulence in your portfolio and save you from getting caught up in a herd mentality of selling low into a down market.
Read More

Part II: Strategies for Hedging Your Portfolio

Part III: The Efficacy of Hedging with Inverse ETFs
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 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.

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.

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

ProShares ETFs (ProShares Trust and ProShares Trust II) are distributed by SEI Investments Distribution Co., which is not affiliated with the funds' advisor or sponsor.

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