ProShares Announces ETF Share Splits

BETHESDA, Md.—ProShares, a premier provider of ETFs, announced today forward and reverse share splits on 22 of its ETFs. The splits will not change the total value of a shareholder’s investment.

Forward Splits

ProShares will implement forward splits for eight ETFs at the following split ratios:

All forward splits will apply to shareholders of record as of market close on November 18, 2025, payable after market close on November 19, 2025. All forward splits will be effective prior to market open on November 20, 2025, when the funds will begin trading at their post-split prices. The ticker symbols and CUSIP numbers for the funds will not change.

The forward splits will decrease the price per share of each 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

ProShares will implement reverse splits for 14 ETFs at the following split ratios:

All reverse splits will be effective prior to market open on November 20, 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.

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, offering one of the industry’s largest ETF lineups. Together with its mutual fund affiliate, ProFunds, the firm manages more than $100 billion in assets.¹ The company is a leader in strategies such as dividend growth, high income, interest rate hedged bond, crypto-linked, 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.