SDS
ProShares UltraShort S&P500
The ProShares UltraShort S&P 500 ETF provides 2x inverse exposure to a market-cap-weighted index of 500 large- and mid-cap US firms selected by the S&P Committee.
US
EQUITY
Rules-Based
MANAGEMENT STYLE
482.9 M
ASSETS UNDER MGMT
90 bp
EXPENSES
Fund Basics
| Fund sponsor | ProShares |
| Category | US |
| Asset class | Equity |
| Website | link... |
| Inception date | Jul 11, 2006 |
| Assets (mns) | $483 |
| Expense ratio | 90 bp |
Fund Structure
| Regulation | Open-Ended Fund |
| Distributions | Quarterly |
| Taxation | 1099 |
| Derivatives-based | Yes |
| Options available | Yes |
| Currency hedged | No |
| Fund of funds | No |
Asset Allocation
Historical Performance
Standardized Performance (as of 08/31/2025)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | 20 YR | Incep. | |
|---|---|---|---|---|---|---|---|---|
| Price Returns | -20.9% | -28.5% | -32.2% | -30.0% | -27.0% | -28.5% | -- | -26.7% |
| Dividend Yield | 0.9% | 3.6% | 4.0% | 3.3% | 2.0% | 1.2% | -- | 1.6% |
| Total Returns | -20.0% | -24.9% | -28.2% | -26.8% | -25.0% | -27.3% | -- | -25.1% | Ann. Volatility | 42.9% | 37.9% | 31.9% | 33.4% | 34.6% | 36.3% | -- | 38.8% |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | -1.91 | 98% |
| MSCI EAFE | -1.23 | 47% |
| MSCI Emg Mkts | -0.96 | 30% |
Liquidity Measures
| Avg. volume (000) | 13,553 |
| ADV traded (mns) | $198 |
| Turnover | 41.1% |
| Avg. Bid/Ask (% of price) | 0.03% |
Technical Indicators
| Recent close | $14.63 |
| 30d moving avg. | $15.09 |
| Annualized volatility | 29.2% |
| Relative strength (RSI) | 37 |
| Short interest | 2.0% |
Distributions
Assets Under Management (mns)
Money Flows (mns)
Short Interest (as % of shares outstanding)
Long Money Flows (mns)
Expense Analysis
| Peer Group | Rules-Based US Equity ETFs |
| # of ETFs | 609 |
| Avg. Expense Ratio | 46.6 bp |
| Std. Deviation | 32.9 bp |
| SDS (90 bp) Percentile rank | 91 |
Peer Group Expense Ratio Distribution
Total Cost of Ownership (TCO) Comparison
| Expense (bp) (A) |
Avg. Bid/Ask (bp) (B) |
TCO (bp) (A)+(B) |
|
|---|---|---|---|
| SDS | 90.0 | 2.8 | 92.8 |
| Peer Avg. | 48.9 | 19.5 | 68.4 |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .