ProShares - Ultra Materials
UYM
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- ProShares Ultra Basic Materials (UYM) seeks daily investment results, before fees and expenses, that correspond to two times (2x) the daily performance of the S&P Materials Select Sector Index. The fund invests principally in financial instruments, including derivatives such as swaps on the S&P Materials Select Sector Index; direct equity securities of materials companies included in the S&P 500 Index, such as Linde plc, Newmont Corp., Sherwin-Williams Co., Freeport-McMoRan Inc., Ecolab Inc., Nucor Corp., and Vulcan Materials Co.; and money market instruments for cash balances. These exposures target companies across materials subsectors, including chemicals, metals and mining, containers and packaging, construction materials, and paper and forest products, providing leveraged daily access to large-cap U.S. materials equities. Launched on January 30, 2007, and domiciled in the United States, the ETF trades on NYSE Arca under ticker UYM with CUSIP 74347R776 and supports options trading. ProShare Advisors LLC serves as investment advisor, with a net expense ratio of 0.95% (contractual waiver through September 30, 2026) and quarterly distributions. The fund primarily serves sophisticated investors seeking magnified short-term exposure to the U.S. materials sector, with assets under management around $33 million as of late 2025. In recent developments, ProShares Trust declared a quarterly distribution of $0.0904 per share in June 2025 and $0.100 on September 24, 2025, reflecting ongoing income generation amid materials sector volatility. The firm extended its expense waiver for UYM through September 30, 2026, supporting cost efficiency, while maintaining high daily return correlation (1.00) and beta (2.00) to the benchmark as of Q3 2025. No major acquisitions, partnerships, or structural changes specific to UYM were reported in 2024-2025, with ProShares focusing lineup expansions on new single-stock leveraged ETFs rather than alterations to established sector funds like UYM.