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.
Each ProShares Dynamic Buffer ETF’s Index employs a Dynamic Daily Buffer Strategy that combines long exposure to an underlying broad-based index with both long and short options on the underlying index having one day to expiration. This combination targets upside participation, up to a daily Cap, while seeking to provide a level of downside protection–or “Target Buffer”–against losses ranging from the first 1% of losses to as much as the first 5% of losses each day. The Target Buffer adjusts dynamically each day based on the level of expected market volatility, targeting a greater level of protection when expected market volatility is higher. The strategy’s Cap on daily upside participation is adjusted dynamically in a similar manner and is designed to be lower when expected volatility is lower, and higher when expected volatility is higher.
Investing involves risk, including the possible loss of principal. ProShares ETFs are generally non-diversified and entail certain risks, including risks associated with the use of derivatives (swap agreements, futures contracts and similar instruments), imperfect benchmark correlation, and market price variance, all of which can increase volatility and decrease performance. Please see summary and full prospectuses for a more complete description of risks. There is no guarantee any ProShares ETF will achieve its investment objective.
There can be no guarantee that the ETF’s Dynamic Daily Buffer Strategy will provide a level of downside protection up to the Target Buffer, or that the ETF will participate in upside returns up to the daily Cap. The ETF may underperform its underlying index over short or long periods of time, potentially significantly. The ETF’s Cap and Target Buffer are each reset daily based on expectations of market volatility, and investors may experience losses to the extent market volatility exceeds such expectations. Even if the ETF’s Dynamic Daily Buffer Strategy is successful, the ETF will be exposed to underlying index losses that exceed the Target Buffer, and the ETF will not participate in underlying index gains that exceed the daily Cap. If the ETF’s Dynamic Daily Buffer Strategy is unsuccessful, the ETF will be exposed to investment losses, which could be significant. The outcomes that the Dynamic Daily Buffer Strategy seeks to provide are measured from the close of one business day to the next; shares traded intraday should not be expected to achieve the same investment outcome as the ETF. Shares traded after the Cap or Target Buffer have been reached should not expect to benefit from such Cap or Target Buffer that day.
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.
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 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.
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. Read them carefully before investing.
The S&P 500 Daily Dynamic Buffer Index is a product of S&P Dow Jones Indices LLC and its affiliates and has been licensed for use by ProShares. "S&P®" is a registered trademark of Standard & Poor's Financial Services LLC ("S&P") and "Dow Jones®" is a registered trademark of Dow Jones Trademark Holdings LLC ("Dow Jones") and have been licensed for use by S&P Dow Jones Indices LLC and its affiliates. ProShares have not been passed on by S&P Dow Jones Indices LLC and its affiliates as to their legality or suitability. ProShares based on the S&P 500 Daily Dynamic Buffer Index are not sponsored, endorsed, sold or promoted by S&P Dow Jones Indices LLC, Dow Jones, S&P or their respective affiliates, and they make no representation regarding the advisability of investing in ProShares. THESE ENTITIES AND THEIR AFFILIATES MAKE NO WARRANTIES AND BEAR NO LIABILITY WITH RESPECT TO PROSHARES.
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.
Your use of this site signifies that you accept our Terms and Conditions of Use.
