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.

What this ETF is trying to do

The ProShares Ultra Semiconductors ETF (USD) is a leveraged ETF. This means it uses financial tools to try and amplify the returns of the semiconductor industry. Its Top Holdings include the DJ U.S. Semiconductors Index Swap (31.75%), NVIDIA Corp (19.87%), and the ProShares Genius Money Market ETF (15.21%). Other notable holdings include Broadcom Inc and Micron Technology Inc.

What the numbers show

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

• Price Return: This measures only the change in the share price. The one-year price return is 101.73%, and the three-year price return is 915.76%.

• Total Return: This reflects the overall return, including distributions. The one-year total return is 102.84%, and the three-year total return is 926.79%.

The current price is $102.77 as of October 7, 2026.

Income and distribution explanation

This ETF usually pays distributions quarterly. It has a distribution yield of approximately 0.40%. It is important for new investors to know that a distribution yield is not the same as a total return. While distributions provide cash income, they do not guarantee that the original investment value will stay the same.

NAV erosion explanation

"NAV erosion" happens when the value of the fund's underlying assets drops over time. This ETF has an erosion-risk score of 100, and the label states "No price erosion detected." The erosion severity is listed as "good," and there is no severe erosion-risk flag.

Share Split History

This ETF has a history of forward splits, with the most recent one 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 falls proportionally. This does not create a gain or a loss; it simply changes the number of shares an investor owns and the price of each share.

Pros

• Very high split-adjusted price and total returns over the last one and three years.

• No price erosion detected according to the erosion-risk score.

• High income rating grade of "A."

Cons

• The distribution yield is very low (0.40%) compared to the price growth.

• As a leveraged ETF, it is designed for a different risk profile than a standard ETF.

Beginner takeaway

This ETF focuses on the semiconductor industry and uses leverage to boost potential returns. While it has shown significant price growth over the last three years, investors should remember that high returns in the past do not guarantee future results. Always distinguish between price return (share price change) and total return (price change plus distributions).