ProShares Russell 2000 High Income ETF is an exchange-traded fund that seeks investment results, before fees and expenses, to track the performance of the Cboe Russell 2000 Daily Covered Call Index, using a covered call strategy on Russell 2000 exposure to target high income potential and long-term returns similar to the small-cap index. The fund invests in Russell 2000 stocks and uses swap agreements and related instruments to replicate the index’s daily call option overlay; it is part of ProShares’ high-income ETF suite and trades under ticker ITWO. ProShares, founded in 2006 and headquartered in Bethesda, Maryland, is an ETF sponsor and the fund is managed by ProShare Advisors LLC, also based in Bethesda, Maryland. ITWO launched on September 4, 2024, and as a recent major development ProShares has continued to expand its income-oriented lineup, including the launch of additional Autocallable Income ETFs in August 2026 and the introduction of other high-income and thematic ETFs across 2025 and 2026, while also implementing ETF share splits across selected funds in 2026. The fund serves investors seeking small-cap equity exposure with enhanced income characteristics, and its portfolio is concentrated in U.S. small-cap companies while distributing income generated through its options-based strategy.