SKYU: PROSHARES ULTRA NASDAQ CLOUD COMPUTING
What this ETF is trying to do
SKYU, the ProShares Ultra Nasdaq Cloud Computing ETF, is a leveraged ETF. This means it uses financial tools to try to amplify the performance of companies involved in cloud computing. It is designed to track the movement of the cloud computing sector, often with more intensity than a standard fund.
What the numbers show
The data shows significant growth in share prices over different time periods. It is important to distinguish between price return (how much the share price changed) and total return (which includes the impact of distributions).
• Year-to-Date (YTD): The price return is approximately 52.96%, while the total return is approximately 53.52%.
• One-Year: The price return was approximately 39.87%, and the total return was approximately 40.84%.
• Three-Year: The price return was approximately 233.40%, and the total return was approximately 237.18%.
For a look at recent movement, the current price is $56.23. An estimated price from roughly one year ago was approximately $40.20.
Income and distribution explanation
SKYU provides some cash income through distributions. The distribution yield is approximately 0.41%. Over the last 12 months, there were 4 distributions. The fund usually pays these out on a quarterly basis.
When looking at income, it is important to remember that a distribution yield tells you how much cash was paid out relative to the price, but it is not the same as the total return.
NAV erosion explanation
"NAV erosion" refers to a decline in the Net Asset Value (the actual value of the fund's underlying assets). 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.
However, regarding price-based evidence, the fund has an erosion-risk score of 100, which is labeled as "No price erosion detected." The erosion severity is rated as "good," and there is no severe erosion-risk flag present.
Top Holdings
The following are the top holdings in the portfolio (note that this list is partial):
• ISE Cloud Computing Index Swap: 12.94%
• Cash: 11.65%
• Everpure Inc Class A: 2.82%
• Nutanix Inc Class A: 2.79%
• Arista Networks Inc: 2.61%
• Microsoft Corp: 2.38%
• MongoDB Inc Class A: 2.20%
• Amazon.com Inc: 2.10%
• Alphabet Inc Class A: 1.99%
• International Business Machines Corp: 1.71%
Holdings can change over time. This data was updated on October 8, 2026.
Pros
• The fund has shown very high price returns over the last three years.
• The erosion-risk score suggests no significant price erosion has been detected.
Cons
• This is a leveraged ETF, which typically carries higher risk than non-leveraged funds.
• The distribution yield is relatively low at approximately 0.41%.
Beginner takeaway
SKYU is a leveraged fund focused on the cloud computing sector. While it has seen large price increases recently, leveraged funds can be volatile. Investors should look at both the price return and the total return to see the full picture of how the fund has performed.
Top Holdings
Structured portfolio holdings supplied by the ETF data provider. These figures are not generated by the AI article.
| # | Holding | Ticker | Weight |
|---|---|---|---|
| 1 | ISE CLOUD COMPUTING INDEX SWAP | n/a | 12.94% |
| 2 | CASH | n/a | 11.65% |
| 3 | EVERPURE INC CLASS A | P | 2.82% |
| 4 | NUTANIX INC CLASS A | NTNX | 2.79% |
| 5 | ARISTA NETWORKS INC | ANET | 2.61% |
| 6 | MICROSOFT CORP | MSFT | 2.38% |
| 7 | MONGODB INC CLASS A | MDB | 2.20% |
| 8 | AMAZON.COM INC | AMZN | 2.10% |
| 9 | ALPHABET INC CLASS A | GOOGL | 1.99% |
| 10 | INTERNATIONAL BUSINESS MACHINES CORP | IBM | 1.71% |