Premium / Discount Analysis Tool

Use this tool to find out how frequently a ProShares ETF has traded at a premium or discount.

Please select ProShares:
Please select Quarter:

Ultra Nasdaq Cybersecurity

Premium / Discount Information as of 6/18/21

Fund Market Price at NAV Time NAV Premium/Discount
Ultra Nasdaq Cybersecurity $40.60 $40.73 -0.32%

Premium Discount Tool

Ending Quarter as of 6/30/21

  Premium to NAV Discount to NAV
Basis Point Differential No. of Days Percent of Total Days No. of Days Percent of Total Days
0-24.9 1 1.92% 18 34.62%
25-49.9 0 0.00% 25 48.08%
50-74.9 0 0.00% 8 15.38%
75-100 0 0.00% 0 0.00%
> 100 0 0.00% 0 0.00%
Total 1 1.92% 51 98.08%

Ending Quarter as of 3/31/21

  Premium to NAV Discount to NAV
Basis Point Differential No. of Days Percent of Total Days No. of Days Percent of Total Days
0-24.9 9 18.37% 21 42.86%
25-49.9 3 6.12% 8 16.33%
50-74.9 2 4.08% 5 10.20%
75-100 0 0.00% 0 0.00%
> 100 0 0.00% 1 2.04%
Total 14 28.57% 35 71.43%

The line chart above displays the difference between the Market Price at Net Asset Value and the Net Asset Value (NAV) for the time-period and fund selected. The vertical axis of the chart shows the premium / discount expressed as a percent of NAV. The horizontal axis represents the trading dates for the period selected.

The tables above display the number of days a fund has traded at a premium or discount and its basis point range.

During market hours, investors may choose to compare an ETF’s current market price to its intraday value (IOPV,IIV) to assess any premium/discount.  Learn how to obtain intraday values. 

Definitions of Terms

Net Asset Value (NAV): The price per share at which ProShares issues and redeems shares. It is calculated in a manner consistent with other mutual funds (normally 4:00 p.m. ET) every day the NYSE is open.

Current Market Price:  Price at which an investor can buy or sell and ETF during the trading day.

Intraday Value:  An ETF’s intraday value (also abbreviated as IOPV or IIV) is an estimated fair value of its holdings  based on the most recent prices of its underlying securities. It should closely approximate the net asset value (NAV) of an ETF throughout the trading day.   

Market Price at NAV Time: Price that is the midpoint between the national best bid and national best offer at the time the ProShares calculates its NAV.

Discount: The amount the ProShares Market Price at NAV Time is below the reported NAV, expressed as a % of NAV.

Premium: The amount the ProShares Market Price at NAV Time is above the reported NAV, expressed as a % of NAV.

Basis Point: a unit of measure used to describe the percentage change in the value of financial instruments or the rate change in an index or other benchmark. One basis point is equivalent to 0.01% (1/100th of a percent) or 0.0001 in decimal form.

Geared (leveraged or short) ProShares ETFs seek returns that are a multiple of (e.g., 2x or -2x) the return of a benchmark (target) for a single day, as measured from one NAV calculation to the next. Due to the compounding of daily returns, holding periods of greater than one day can result in returns that are significantly different than the target return and ProShares' returns over periods other than one day will likely differ in amount and possibly direction from the target return for the same period. These effects may be more pronounced in funds with larger or inverse multiples and in funds with volatile benchmarks. Investors should monitor their holdings as frequently as daily. Investors should consult the prospectus for further details on the calculation of the returns and the risks associated with investing in this product.

There is no guarantee that any ProShares ETF will achieve its investment objective.

Investing involves risk, including the possible loss of principal. ProShares are non-diversified and each entails certain risks, which may include 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. Short ProShares should lose money when their benchmarks or indexes rise. Please see their summary and full prospectuses for a more complete description of risks.

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. A separate ProShares Trust II prospectus is available for Volatility, Currency and Commodity funds. You may obtain them from your financial adviser or broker/dealer representative.