ProShares Ultra Communication Services Select Sector

Data updated: 2020-10-26

C000202607 — ProShares Ultra Communication Services Select Sector. Leveraged · $3.46M AUM · 0.95% expense ratio. Holdings, fees, performance and SEC filings.

C000202607 Fund Overview

ProShares Ultra Communication Services Select Sector is a US mutual fund managed by Proshares Trust, categorised as Leveraged. ABC INVEST provides holdings, performance, costs, cashflows, risk data, prospectus documents and SEC filings, sourced from SEC filings.

Type: US mutual fund
Manager: Proshares Trust
Category: Leveraged
Assets under management: $3.46M
1-year return: 46.6%
SEC CIK: 0001174610
SEC series ID: S000062449
Share class ID: C000202607

C000202607 Investment Objective and Strategy

ProShares Ultra Communication Services Select Sector describes its objective and strategy as follows, from its latest prospectus filed with the SEC by Proshares Trust.

Investment objective

The Fund seeks daily investment results, before fees and expenses, that correspond to two times (2x) the daily performance of the Index. The Fund does not seek to achieve its stated investment objective over a period of time greater than a single day.

Principal investment strategy

"The Fund invests in financial instruments that ProShare Advisors believes, in combination, should produce daily returns consistent with the Fund's investment objective. The Index is constructed and maintained by S&P Dow Jones Indices LLC. The Index represents the communication services sector of the S&P 500 Index (""S&P 500""). The Index is one of eleven (11) of the S&P Select Sector Indices (the ""Select Sector Indices""), each designed to measure the performance of a sector of the S&P 500. Membership in the Select Sector Indices is generally determined by the Global Industry Classification Standard (""GICS""), which classifies securities primarily based on revenues; however, earnings and market perception are also considered. The Index includes equity securities of companies from the following industries: diversified telecommunications services; wireless telecommunications services; media; entertainment; and interactive media & services.

As of May 31, 2020, the top five companies in the Index by weight (i.e., percentage) are Alphabet Inc, Facebook Inc, T-Mobile US Inc, Electronic Arts, Activision Blizzard Inc. The Index is sponsored by Standard & Poor's (the ""Index Provider""), which is not affiliated with the Fund or ProShare Advisors. The Index Provider determines the composition of the Index and relative weightings of the Index constituents, and publishes information regarding the market value of the Index. The components of the Index may change over time. The Index is published under the Bloomberg ticker symbol ""IXCTR"". The Fund will invest principally in the financial instruments set forth below. The Fund expects that its cash balances maintained in connection with the use of financial instruments will typically be held in money market instruments.

Equity Securities — The Fund invests in common stock issued by public companies. Derivatives — The Fund invests in derivatives, which are financial instruments whose value is derived from the value of an underlying asset or assets, such as stocks, bonds, funds (including exchange-traded funds (""ETFs"")), interest rates or indexes. The Fund invests in derivatives as a substitute for investing directly in securities in order to seek returns for a single day that are leveraged (2x) to the returns of the Index for that day. These derivatives principally include: Swap Agreements — Contracts entered into primarily with major global financial institutions for a specified period ranging from a day to more than one year. In a standard ""swap"" transaction, two parties agree to exchange the return (or differentials in rates of return) earned or realized on particular predetermined investments or instruments.

The gross return to be exchanged or ""swapped"" between the parties is calculated with respect to a ""notional amount,"" e.g., the return on or change in value of a particular dollar amount invested in a ""basket"" of securities or an ETF representing a particular index. Money Market Instruments — The Fund invests in short-term cash instruments that have a remaining maturity of 397 days or less and exhibit high quality credit profiles, for example: U.S. Treasury Bills — U.S. government securities that have initial maturities of one year or less, and are supported by the full faith and credit of the U.S. government. Repurchase Agreements — Contracts in which a seller of securities, usually U.S. government securities or other money market instruments, agrees to buy the securities back at a specified time and price.

Repurchase agreements are primarily used by the Fund as a short-term investment vehicle for cash positions. ProShare Advisors uses a mathematical approach to investing. Using this approach, ProShare Advisors determines the type, quantity and mix of investment positions that it believes, in combination, the Fund should hold to produce daily returns consistent with the daily Fund's investment objective. The Fund may invest in or gain exposure to only a representative sample of the securities in the Index or to securities not contained in the Index or in financial instruments, with the intent of obtaining exposure with aggregate characteristics similar to those of a multiple of the single day returns of the Index. In managing the assets of the Fund, ProShare Advisors does not invest the assets of the Fund in securities or financial instruments based on ProShare Advisors' view of the investment merit of a particular security, instrument, or company, nor does it conduct conventional investment research or analysis or forecast market movement or trends.

The Fund seeks to remain fully invested at all times in securities and/or financial instruments that, in combination, provide leveraged exposure to the single day returns of the Index, consistent with its investment objective, without regard to market conditions, trends or direction. The Fund seeks investment results for a single day only, measured as the time the Fund calculates its NAV to the next time the Fund calculates its NAV, and not for any other period. The Fund seeks to engage in daily rebalancing to position its portfolio so that its exposure to the Index is consistent with the Fund's daily investment objective. The time and manner in which the Fund rebalances its portfolio may vary from day to day at the discretion of ProShare Advisors, depending on market conditions and other circumstances.

The Index's movements during the day will affect whether the Fund's portfolio needs to be rebalanced. For example, if the Index has risen on a given day, net assets of the Fund should rise (assuming there were no Creation Unit redemptions). As a result, the Fund's exposure will need to be increased. Conversely, if the Index has fallen on a given day, net assets of the Fund should fall (assuming there were no Creation Units issued). As a result, the Fund's exposure will need to be decreased. Daily rebalancing and the compounding of each day's return over time means that the return of the Fund for a period longer than a single day will be the result of each day's returns compounded over the period, which will very likely differ in amount, and possibly even direction, from two times (2x) the return of the Index for the same period.

The Fund will lose money if the Index's performance is flat over time, and the Fund can lose money regardless of the performance of the Index, as a result of daily rebalancing, the Index's volatility, compounding of each day's return and other factors. See ""Principal Risks"" below. The Fund will concentrate or focus its investments in a particular industry or group of industries to approximately the same extent the Index is so concentrated or focused. As of May 31, 2020, the Index was concentrated in the media & entertainment industry group. Please see ""Investment Objectives, Principal Investment Strategies and Related Risks"" in the Fund's Prospectus for additional details."

C000202607 Performance

Total returns for C000202607 (as of 2026-10-01), from SEC filings.

Period	Total return
1 year	46.6%

C000202607 Risk Information

Risk metrics for C000202607, derived from monthly returns in SEC filings.

1-year volatility (annualised): 50.8%

C000202607 Costs and Fees

C000202607 costs about $95 per $10,000 invested per year in fund expenses.

Net expense ratio: 0.95%
Gross expense ratio: 6.47%
Portfolio turnover: 144%
Brokerage commissions: 2.68 bps of average net assets (SEC N-CEN)

C000202607 Cashflows

Over the 12 months to 2020-08, ProShares Ultra Communication Services Select Sector had net inflows of $800.55K, from monthly SEC N-PORT filings.

Month	Net flow
2020-08	$0
2020-07	$0
2020-06	$0
2020-05	$0
2020-04	$800.55K
2020-03	$0

C000202607 Debt Constituents

No individual debt constituents are reported in ProShares Ultra Communication Services Select Sector's latest SEC N-PORT filing.

C000202607 Prospectus and SEC Filings

Official ProShares Ultra Communication Services Select Sector filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.

Related Funds

Other Leveraged funds tracked on ABC INVEST:

Data Sources

ABC INVEST compiles this page from public filings made to the U.S. Securities and Exchange Commission (SEC) through EDGAR: portfolio holdings and monthly cashflows from Form N-PORT, expenses and returns from fund prospectuses (Form 485BPOS) and the SEC DERA Risk/Return Summary data sets, annual data from Form N-CEN, and shareholder reports from Form N-CSR.