This ProShares ETF seeks daily investment results that correspond, before fees and expenses, to 2x the daily performance of a single stock (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.
This Leveraged ETF’s performance depends almost entirely on the performance of a single stock, Tesla, Inc. (TSLA), which involves significant risk and eliminates the benefits of diversification. Before investing, you should carefully consider that high volatility may have a significant negative impact on the Fund’s performance. The ETF’s performance should be measured from one NAV calculation time to the next and does not represent the returns you would receive if you traded shares at other times. TSLA faces risks from global economic and trade conditions, tariffs, supply chain disruptions, rising costs, and geopolitical issues in key markets like China and Europe. The company also faces challenges unique to the electric vehicle industry, including scaling production, limited product lines, and intense competition. Rapid technological change, shifting consumer demand, cyberattacks, regulatory actions, lawsuits, and reputational events may also affect TSLA’s business.
ProShares has derived all disclosures herein regarding TSLA from publicly available sources it deems to be reliable and makes no representation as to their accuracy or completeness. ProShares cannot give any assurance that all relevant events that would affect the trading price of TSLA have been publicly disclosed. Any future developments, whether disclosed or not, could affect the value of TSLA and, in turn, the value of the ETF. The ETF and ProShare Advisors LLC are not affiliated with Tesla Inc. or its common stock (TSLA).
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. The ETF's investment exposure is concentrated in the industry in which the underlying stock operates. Narrowly focused investments typically exhibit higher volatility. Investors could potentially lose the full value of their investment within a single day. Please see the summary and full prospectuses at ProShares.com for a more complete description of risks. 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.
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 at ProShares.com. Read them carefully before investing.
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ProShares are distributed by SEI Investments Distribution Co., which is not affiliated with the funds’ advisor or sponsor.
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