ProShares - UltraShort S&P500
SDS
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ROIC.AI
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- ProShares UltraShort S&P500 (SDS) is an exchange-traded fund that seeks daily investment results, before fees and expenses, that correspond to two times the inverse (-2x) of the daily performance of the S&P 500 Index, a market cap-weighted index of 500 large- and mid-cap U.S. firms selected by the S&P Committee; the fund achieves its objective through derivatives including swaps with major counterparties such as Societe Generale, Morgan Stanley, BNP Paribas, UBS, Goldman Sachs, Barclays, Bank of America, Citibank, and JPMorgan Chase, as well as S&P 500 E-mini futures, with collateral primarily in U.S. Treasury bills. Launched on July 11, 2006, SDS trades on U.S. exchanges with options available, quarterly distributions, a net expense ratio of 0.91%, and is part of ProShares' extensive lineup of over 140 leveraged, inverse, and geared ETFs focused on equities, fixed income, commodities, volatility, dividend growth, high income, interest rate-hedged bonds, and crypto-linked strategies; ProShares, founded in 1999 and headquartered at 7272 Wisconsin Avenue in Bethesda, Maryland, manages over $95 billion in assets as the world's largest provider of geared ETFs. ProShares operates primarily in the United States, targeting institutional and retail investors seeking tactical short-term hedging, risk management, and enhanced returns across global markets including emerging/developing regions, Europe, and Asia. In recent developments, ProShares launched innovative products within the last year including the Ultra Solana ETF (SLON) and Ultra XRP ETF (UXRP) in 2025 for 2x leveraged crypto exposure via futures, a suite of Dynamic Buffer ETFs in June 2025 adapting daily to U.S. stock index volatility, the Ultra COIN ETF (COIA) in September 2025 targeting 2x daily Coinbase returns, and additional single-stock ETFs for 2x daily returns on Nvidia (NVDB), Palantir (PLTA), and Tesla (TSLI); the firm also strengthened distribution with key hires of Regional Vice Presidents Chad Brand, Mike Hart, and Matt Zorumski in September 2025, and continues active recruitment across functions to support expansion. SDS itself underwent a 1-for-5 reverse split in prior years to maintain share price viability but shows no major corporate actions in 2024-2025, with ongoing performance reflecting high volatility suited for short-term tactical trading rather than long-term holding due to leverage decay.