Share-split context: A forward split was recorded on Nov 20, 2025 with coefficient 2. A forward split turns each old share into multiple new shares and lowers the quoted price per share proportionally. Proportional ownership is unchanged at the split moment, so the split itself creates neither a gain nor a loss. The price-return figures in this report are already split-adjusted.

ProShares Ultra Dow30 (DDM) Overview

The ProShares Ultra Dow30 (DDM) is a leveraged ETF designed to provide amplified exposure to the Dow Jones Industrial Average. This means it uses financial tools to aim for returns that are greater than the standard movement of the index.

What the Numbers Show

Because this ETF has a history of share splits, we use split-adjusted returns to see how it has performed.

• Year-to-Date (YTD): The price return is 8.69%, while the total return is 9.57%.

• One Year: The price return is 14.26%, and the total return is 15.46%.

• Three Year: The price return is 96.22%, and the total return is 102.61%.

Price Return vs. Total Return: Price return only measures the change in the share price. Total return is a broader measure that includes the distributions paid out to investors.

Share Split History

DDM has a history of forward splits, with the most recent occurring on November 20, 2025, with a coefficient of 2. In a forward split, each old share becomes multiple new shares, and the price per share drops proportionally. This does not create a gain or loss; it simply changes the number of shares an investor owns and the price of each share.

Income and Distributions

DDM provides some cash income to its investors.

• Distribution Yield: 1%

• Frequency: Usually quarterly (it paid 4 times in the last 12 months).

• Trailing Distributions: 0.62 per share.

It is important to remember that a distribution yield is not the same as a total return. While these payments provide cash, they are only one part of the overall investment result.

Price and NAV Erosion

"NAV erosion" happens when the net asset value of a fund declines over time. The supplied data is sufficient to evaluate price erosion, but it does not include enough historical NAV-per-share data to confirm or rule out NAV erosion.

Regarding price-based evidence, the erosion score is 100, and the label is "No price erosion detected." The severe erosion-risk flag is false.

Top Holdings

As of October 8, 2026, the fund holds 37 assets. The top holdings (which are a partial list) include:

• ProShares Genius Money Market ETF: 21.43%

• CTE ProShares Trust M: 6.91%

• The Goldman Sachs Group Inc: 6.7%

• Caterpillar Inc: 5.7%

• DJ Industrial Average Swap: 5.02%

• Microsoft Corp: 3.51%

Pros

• Strong three-year split-adjusted price and total returns.

• No price erosion detected based on the erosion score.

• Provides regular quarterly distributions.

Cons

• Leveraged ETFs are more complex than standard ETFs.

• The distribution yield is relatively low at 1%.

Beginner Takeaway

DDM is a leveraged fund for those wanting more movement than the standard Dow 30. While it has shown strong growth over the last three years and pays a small quarterly dividend, its leveraged nature makes it different from a traditional index fund.