LTL Fees and Costs — ProShares Ultra Communication Services
Data updated: 2026-08-14
The net expense ratio is 0.95%: a 0.75% management fee plus 4.88% other expenses, less a 4.68% fee waiver. There are no sales loads or redemption fees. In fiscal 2026 the fund paid $2K in broker commissions, 0.0180% of average net assets, and portfolio turnover was 298%.
LTL Fees and Expenses
Annual operating expenses and sales charges of LTL. Prospectus, as of March 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.75% |
| 12b-1 fee | — |
| Other expenses | 4.88% |
| Gross expense ratio | 5.63% |
| Fee waiver | −4.68% |
| Net expense ratio | 0.95% |
| Sales charges | |
|---|---|
| Max front load | — |
| Max deferred load | — |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | Yes |
| Waived fees subject to recoupment | Yes |
LTL Costs Over Time
On $10,000 invested in LTL, assuming 5% a year before costs, total costs come to $606 over 5 years, cutting the return by 1.02% a year. Illustration, not a forecast: it assumes today's net expense ratio throughout (a fee waiver may end).
| $10,000 invested | Sell after 1 year | Sell after 3 years | Sell after 5 years |
|---|---|---|---|
| Value before costs | $10,500 | $11,576 | $12,763 |
| Fund expenses (net expense ratio 0.95%) | $100 | $311 | $540 |
| Trading costs (broker commissions) | $2 | $6 | $10 |
| Lost growth on money paid in costs | $0 | $16 | $56 |
| Total costs | $102 | $333 | $606 |
| Value after costs | $10,398 | $11,243 | $12,157 |
| Impact on return, per year | 1.02% | 1.02% | 1.02% |
LTL Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending May 31, 2026.
- Explicit cost rate (commissions ÷ average net assets): 0.0180%
- Total broker commissions: $2K
- Bought from dealers (principal trades, not a cost): $33.8M
- Portfolio turnover (prospectus): 298%
- Securities on loan, average value: $39K
- Net income from securities lending: $23K (0.176% of average net assets)
LTL Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| BNP Paribas Securities Corp. | $2K | 82.88% |
| Susquehanna Financial Group, LLLP | $409 | 17.12% |
LTL Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| J.P. Morgan Securities LLC | $13.0M | 38.62% |
| Merrill Lynch, Pierce, Fenner & Smith Inc. | $7.9M | 23.27% |
| Jane Street Capital, LLC | $5.9M | 17.36% |
| Citigroup Global Markets Inc. | $4.5M | 13.47% |
| Virtu Americas LLC | $2.5M | 7.28% |
For information only. Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date. Past performance does not guarantee future results.