ProShares Announces ETF Share Splits

BETHESDA, Md.—ProShares, a premier provider of ETFs, announced today forward and reverse share splits on seven of its ETFs. The splits will not change the total value of a shareholder’s investment and will be effective on two separate dates. 

Forward Splits 

ProShares will implement forward splits for one ETF at the following split ratio: 

This forward split will apply to shareholders of record as of market close on June 11, 2025, payable after market close on June 12, 2025. The forward split will be effective prior to market open on June 13, 2025, when the fund will begin trading at its post-split price. The ticker symbol and CUSIP numbers for the fund will not change. 

The forward split will decrease the price per share of the fund, with a proportionate increase in the number of shares outstanding. For example, for a four-for-one split, every pre-split share will result in the receipt of four post-split shares, which will be priced at one-quarter the net asset value (“NAV”) of a pre-split share. 

Illustration of a Forward Split 

The following table shows the effect of a hypothetical four-for-one forward split. 

Reverse Splits – Phase One

ProShares will implement reverse splits for six ETFs in two phases, on two separate dates. Five ETFs will reverse split shares at the following split ratios:

All reverse splits for phase one will be effective prior to market open on June 12, 2025, when the funds will begin trading at their post-split prices. The ticker symbols for the funds will not change. All funds undergoing a reverse split will be issued new CUSIP numbers, listed above.

Reverse Splits – Phase Two

The reverse split for phase two will be effective prior to market open on June 13, 2025, when the fund will begin trading at its post-split price. The ticker symbol for the fund will not change. The fund undergoing a reverse split will be issued a new CUSIP number, listed above.

The reverse splits will increase the price per share of each fund, with a proportionate decrease in the number of shares outstanding. For example, for a one-for-five reverse split, every five pre-split shares will result in the receipt of one post-split share, which will be priced five times higher than the NAV of a pre-split share.

Illustration of a Reverse Split 

The following table shows the effect of a hypothetical one-for-five reverse split. 

Fractional Shares from Reverse Splits 

For shareholders who hold quantities of shares that are not an exact multiple of the reverse split ratios (for example, not a multiple of five for a one-for-five reverse split), the reverse splits will result in the creation of fractional shares. Post-reverse split fractional shares will be redeemed for cash and sent to your broker of record. This redemption may cause some shareholders to realize gains or losses, which could be a taxable event for those shareholders. 

About ProShares 

ProShares has been at the forefront of the ETF revolution since 2006. ProShares now offers one of the largest lineups of ETFs, with over $70.9 billion in assets. The company is a leader in strategies such as crypto-linked, dividend growth, interest rate hedged bond and geared (leveraged and inverse) ETF investing. ProShares continues to innovate with products that provide strategic and tactical opportunities for investors to manage risk and enhance returns.