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Gold ETFs

Ultra Gold

ProShares Ultra Gold seeks daily investment results, before fees and expenses, that correspond to two times (2x) the daily performance of the Bloomberg Gold Subindex.

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-2x

GLL

UltraShort Gold

ProShares UltraShort Gold seeks daily investment results, before fees and expenses, that correspond to two times the inverse (-2x) of the daily performance of the Bloomberg Gold Subindex.

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Available in Brokerage Accounts View More Leveraged & Inverse ETFs

Q&A

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A leveraged gold ETF enables investors to magnify the impact of their investment. This means putting less money at risk for a desired level of exposure. For example, a $10 investment in a 2x leveraged ETF achieves $20 of exposure to the benchmark’s upside, but with no risk of loss beyond the initial $10 investment. Investors seeking similar leverage outside of an ETF structure might resort to borrowing on margin from their brokerage account, which often incurs higher fees.

An inverse gold ETF is designed to move in the opposite direction of a benchmark. It can be used as part of a broader strategy to hedge against the risk of a market downturn, or to seek profit by expressing a view that a slice of the market will decline. In contrast to short-selling, which introduces the risk of uncapped downside, an investor who utilizes an inverse ETF can establish a “short” position that limits losses to the initial investment. In that respect, the risk of loss associated with an inverse ETF is no different than any other ETF or mutual fund.

These ETFs are registered under the Investment Company Act which provides numerous investor protections.*

Yes, options trading is available for UGL and GLL.

Portfolio Hedging Series

Part I: The Significance of Portfolio Hedging

Investing involves risk. Market downturns will happen. Having a sound investment strategy can help smooth out the turbulence in your portfolio and save you from getting caught up in a herd mentality of selling low into a down market.
Read More
Part II: Strategies for Hedging Your Portfolio

ProShares reviews the pros and cons of different portfolio hedging strategies that can be used in inevitable market downturns: Short selling, buying put options, selling futures contracts, and using inverse ETFs

Read the article
Part III: The Efficacy of Hedging with Inverse ETFs

ProShares inverse ETFs are frequently used to hedge equity and bond holdings. And, as investors have diversified into a broader selection of asset classes, it has become common to see investors hedging commodity and currency holdings as well.

Read the article
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These funds are not investment company's regulated under the Investment Company Act of 1940 and is not afforded its protections. Please read the prospectus carefully before investing.

These ProShares ETFs seek daily investment results that correspond, before fees and expenses, to 2x or-2x the daily performance of its underlying benchmark (the “Daily Target”). While the Funds have 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.

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. 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. Please see their summary and full prospectuses for a more complete description of risks.

This fund generates a K-1 tax form.

The price of gold is volatile and may be affected by large institutional purchases or sales, indirect investment in gold and silver, industrial usage, and political and economic concerns.

Certain derivative instruments will subject the fund to counterparty risk and credit risk, which could result in significant losses for the fund.

ProShares Trust II is a commodity pool as defined in the Commodity Exchange Act and the applicable regulations of the CFTC. ProShare Capital Management LLC is the Trust Sponsor and commodity pool operator (CPO). The Sponsor is registered as a CPO with the CFTC, and is a member of the NFA. Neither this ETF nor ProShares Trust II is an investment company regulated under the Investment Company Act of 1940 and neither is afforded its protections.

"Bloomberg®" and "Bloomberg Gold SubindexSM" are trademarks or service marks of Bloomberg Finance L.P. and its affiliates (collectively, "Bloomberg") and have been licensed for use for certain purposes by ProShares. Neither Bloomberg nor UBS Securities LLC and its affiliates (collectively, "UBS") are affiliated with ProShares. ProShares have not been passed on by Bloomberg or UBS as to their legality or suitability. ProShares based on the Bloomberg Gold Subindex are not sponsored, endorsed, sold or promoted by Bloomberg or UBS, and they make no representation regarding the advisability of investing in ProShares. BLOOMBERG AND UBS MAKE NO WARRANTIES AND BEAR NO LIABILITY WITH RESPECT TO PROSHARES. Neither Bloomberg nor UBS guarantees the timeliness, accurateness, or completeness of any data or information relating to Bloomberg Gold Subindex.

Investing in ETFs involves a substantial risk of loss.

This information must be accompanied or preceded by a current ProShares Trust II prospectus.

ProShares are distributed by SEI Investments Distribution Co., which is not affiliated with the funds’ advisor or sponsor.

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