ProShares - Ultra SmallCap600
SAA
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- ProShares Ultra SmallCap600 (SAA) is an exchange-traded fund that seeks daily investment results, before fees and expenses, that correspond to two times (2x) the daily performance of the S&P SmallCap 600 Index. The fund invests in financial instruments, including derivatives such as swap agreements, futures contracts, and options, as well as direct holdings in small-cap U.S. equities comprising the index; it provides leveraged exposure to approximately 600 small-capitalization companies domiciled in the United States, with top holdings including Hecla Mining Co., SPX Technologies Inc., and Dycom Industries Inc., alongside significant swap positions with counterparties like Bank of America NA and Citibank NA. Distributions occur quarterly, options trading is available on the shares, and the net expense ratio stands at 0.95% with a contractual waiver through September 30, 2026. Launched on January 23, 2007, under ProShares Trust, a Delaware statutory trust sponsored by ProShare Advisors LLC, the fund trades on NYSE Arca with CUSIP 74347R818 and had net assets of approximately $29 million as of recent data. ProShare Advisors LLC, headquartered at 7272 Wisconsin Avenue in Bethesda, Maryland, manages the fund as part of its broad lineup of leveraged and inverse ETFs offered globally, primarily targeting U.S. investors seeking tactical exposure to small-cap equity volatility. The firm, founded in 1999, operates through affiliated entities including ProShare Capital Management LLC and focuses on innovative strategies across equities, commodities, currencies, and cryptocurrencies. Recent developments for ProShares include the launch of leveraged futures-based ETFs such as the ProShares Ultra Solana ETF (SLON) and ProShares Ultra XRP ETF (UXRP) in July 2025 following NYSE Arca approval, expanding its cryptocurrency offerings beyond prior Bitcoin and Ethereum futures products. In November 2025, ProShares announced forward share splits effective prior to market open on November 20 for select ETFs, including SAA, to adjust share prices and enhance liquidity. ProShare Advisors also established new positions in companies like Solaris Energy Infrastructure in Q2 2025 and maintains a vast portfolio exceeding $47 billion across 2,005 holdings. These moves reflect ongoing product innovation and portfolio adjustments amid expanding into alternative assets.