ProShares UltraShort Gold Miners
GDXS
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- ProShares UltraShort Gold Miners (GDXS) is an exchange-traded fund managed by ProShare Advisors LLC that seeks daily investment results corresponding to two times the inverse (-2x) of the daily performance of the NYSE Arca Gold Miners Index. The fund employs derivatives, including swaps, to achieve its short strategy on a modified market-capitalization weighted index comprising publicly traded companies primarily involved in gold and silver mining; it targets growth and value stocks across diversified market capitalizations in the materials, metals and mining sectors. GDXS provides leveraged inverse exposure to global gold and silver miners for sophisticated traders seeking to profit from declines in the underlying index, with an expense ratio of 0.95%. ProShare Advisors LLC, the fund sponsor founded in 1999 and headquartered at 7272 Wisconsin Avenue, 21st Floor, Bethesda, Maryland 20814, USA, operates ProShares Trust and offers a broad lineup of leveraged and inverse ETFs across equity, fixed income, commodity, and volatility asset classes. GDXS trades on NYSE Arca and serves institutional and retail investors focused on tactical short positions in the gold mining sector. The fund launched on February 13, 2015, but ProShares closed and liquidated GDXS, along with its counterpart Ultra Gold Miners (GDXX) and CDS Short North American HY Credit ETF (WYDE), as announced on June 5, 2019, with final liquidating distributions paid to shareholders on August 14, 2019, at $7.0627 per share for GDXS. This closure stemmed from ProShares' ongoing review of its ETF lineup amid low assets under management and operational considerations, marking a significant strategic contraction in niche leveraged mining products. No subsequent relaunches, partnerships, or revivals of GDXS have occurred, and lingering price quotes on certain platforms reflect halted trading rather than active operations.