![]() Please see their summary and full prospectuses for a more complete description of risks. Short ProShares ETFs should lose money when their benchmarks or indexes rise. Geared ProShares ETFs are non-diversified and entail certain risks, including 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. Investing involves risk, including the possible loss of principal. ![]() For more information on risks, please read the prospectus. Investors should monitor their holdings as frequently as daily. ![]() These effects may be more pronounced in funds with larger or inverse multiples and in funds with volatile benchmakrs. Due to the compounding of daily returns, ProShares’ returns over periods other than one day will likely differ in amount and possibly direction from the target return for the same period. 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. ![]()
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March 2023
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