ProShares Ultra SpaceX ETF

ProShares Ultra SpaceX ETF is a leveraged exchange-traded fund designed to provide approximately two times the daily performance of the common stock of SpaceX, before fees and expenses. The fund offers targeted exposure to Space Exploration Technologies Corp., a company operating across space launch services, satellite connectivity, and artificial intelligence infrastructure, including reusable rockets, the Starlink broadband network, and large-scale compute data centers. To achieve its objective, ProShares Ultra SpaceX ETF primarily uses derivatives such as total return swaps referencing SpaceX shares, supported by collateral and cash-like holdings. As a single-stock, 2x leveraged product, it concentrates risk in one underlying issuer and is structured as a short-term, tactical tool for investors who seek amplified daily exposure rather than broad diversification. The ETF is part of ProShares’ broader suite of geared funds, reflecting the sponsor’s specialization in leveraged and inverse strategies across major asset classes.