- S&P MidCap 400™
- Russell 2000®
3X ETFs (not 300%)UltraPro ETFs seek to provide a return of 3x, the return of an index for a single day (before fees and expenses). And UltraPro Short ETFs seek to provide a return of -3x, the return of an index for a single day (before fees and expenses). Note that ProShares says that the returns are 300%, which is wrong. 300% is 4X). We hope their computers do better math.
- On an up day, when the market gains 1%, a 3x leveraged fund is designed to gain about 3% and a -3x inverse fund is designed to lose about 3%.
- But on a down day, when the market loses 1%, a 3x leveraged fund is designed to lose roughly 3% and a -3x inverse fund is designed to gain roughly 3%.
"Most ProShares ETFs seek a return that is a multiple (e.g., 200%, -300%) of the return of an index or other benchmark (target) for a single day. Due to the compounding of daily returns, Ultra and Short ProShares' returns over periods other than one day will likely differ in amount and possibly direction from the target return for the same period. Investors should monitor holdings consistent with their strategies, as frequently as daily. For more on correlation, leverage and other risks, please read the prospectus."