SDS Fees and Costs — ProShares UltraShort S&P500
Data updated: 2026-08-14
The net expense ratio is 0.89%: a 0.75% management fee plus 0.14% other expenses. There are no sales loads or redemption fees. In fiscal 2026 the fund paid $5K in broker commissions, 0.0012% of average net assets, and portfolio turnover was 0%.
SDS Fees and Expenses
Annual operating expenses and sales charges of SDS. Prospectus, as of March 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.75% |
| 12b-1 fee | — |
| Other expenses | 0.14% |
| Gross expense ratio | 0.89% |
| Fee waiver | — |
| Net expense ratio | 0.89% |
| Sales charges | |
|---|---|
| Max front load | — |
| Max deferred load | — |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | No |
| Waived fees subject to recoupment | No |
SDS Costs Over Time
On $10,000 invested in SDS, assuming 5% a year before costs, total costs come to $559 over 5 years, cutting the return by 0.94% 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 0.89%) | $93 | $292 | $507 |
| Trading costs (broker commissions) | $0 | $0 | $1 |
| Lost growth on money paid in costs | $0 | $14 | $51 |
| Total costs | $94 | $307 | $559 |
| Value after costs | $10,406 | $11,269 | $12,204 |
| Impact on return, per year | 0.94% | 0.94% | 0.94% |
SDS 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): 0.0012%
- Total broker commissions: $5K
- Bought from dealers (principal trades, not a cost): $7.5B
- Portfolio turnover (prospectus): 0%
- Securities lending: none during the year
SDS Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Societe Generale | $5K | 100.00% |
SDS Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| J.P. Morgan Securities LLC | $5.2B | 70.12% |
| Goldman Sachs & Co. LLC | $633.8M | 8.53% |
| Barclays Capital, Inc. | $595.6M | 8.02% |
| Bank of Montreal | $503.8M | 6.78% |
| Wells Fargo Securities, LLC | $123.9M | 1.67% |
| Virtu Americas LLC | $100.1M | 1.35% |
| Morgan Stanley & Co. LLC | $99.4M | 1.34% |
| Citigroup Global Markets Inc. | $74.8M | 1.01% |
| Jefferies LLC | $49.9M | 0.67% |
| Societe Generale | $38.4M | 0.52% |
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.