SMN

UltraShort Materials

Investment Objective

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

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

Performance

Daily Return during Q1 2024

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

Fund 1m 3m 6m YTD 1Y 3Y 5Y 10Y Since Inception Inception Date
SMN Market Price 8.55% -14.64% 8.98% 8.55% 5.16% -23.67% -31.28% -24.23% -29.21% 01/30/2007
SMN NAV 9.03% -14.13% 9.74% 9.03% 5.80% -23.60% -31.25% -24.20% -29.20% 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 SMN
  • Intraday Ticker SMN.IV
  • CUSIP 74347G614
  • Inception Date 1/30/07
  • Gross Expense Ratio 2.59%
  • Net Expense Ratio 0.95%
  • NAV Calculation Time 4:00 p.m. ET
  • Distributions Quarterly
Price
as of 2/23/2024
  • NAV $8.02
  • NAV Change $-0.09 down caret
  • Market Price $8.01
  • Market Price Change $-0.08 down caret
  • Trading Volume (M) 8,215
  • 30-Day Median Bid Ask Spread 0.36%
  • View Premium / Discount
Snapshot
  • Ticker SMN
  • Intraday Ticker SMN.IV
  • CUSIP 74347G614
  • Inception Date 1/30/07
  • Expense Ratio 0.95%
  • Gross Expense Ratio 2.59%
  • NAV Calculation Time 4:00 p.m. ET
  • Distributions Quarterly
Price
as of 2/23/2024
  • NAV $8.02
  • NAV Change $-0.09 down caret
  • Market Price $8.01
  • Market Price Change $-0.08 down caret
  • Trading Volume (M) 8,215
  • 30-Day Median Bid Ask Spread 0.36%
  • View Premium / Discount

The expense ratio above has a contractual waiver ending 9/30/24.

Exposures

Index as of 12/29/2023

Holdings

as of 2/23/2024

Exposure Weight Ticker Description Exposure Value
(Notional + GL)
Market Value Shares/Contracts SEDOL Number
-- -- NET OTHER ASSETS (LIABILITIES) -- $1,100,691.52 1,100,692 --
-28.06% -- MATERIALS SELECT SECTOR INDEX SWAP GOLDMAN SACHS INTERNATIONAL -308,816 -- -335 --
-30.07% -- MATERIALS SELECT SECTOR INDEX SWAP SOCIETE GENERALE -330,941 -- -359 --
-30.23% -- MATERIALS SELECT SECTOR INDEX SWAP UBS AG -332,784 -- -361 --
-33.25% -- MATERIALS SELECT SECTOR INDEX SWAP BANK OF AMERICA NA -365,970 -- -397 --
-75.46% -- MATERIALS SELECT SECTOR INDEX SWAP BNP PARIBAS -830,578 -- -901 --

Index

as of 12/29/2023

  • Total Number of Companies28
  • Price/Earnings Ratio18.931
  • Price/Book Ratio2.973
  • Dividend Yield ( % )1.98
  • Avg. Index Market Capitalization$35.19 billion
About the Index

The Index represents the materials 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: chemicals; construction materials; containers & packaging; metals & mining; and paper & forest products.

Distributions

Ex-Dividend Date Record Date Payable Date Dividend Long-Term Capital Gain Short-Term Capital Gain Return of Capital

Portfolio Hedging Series

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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. Short 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. Short ProShares ETFs should lose money when their benchmarks rise. 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 are distributed by SEI Investments Distribution Co., which is not affiliated with the funds’ advisor or sponsor.

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