ProShares UltraPro Short S&P 500 Fund

ProShares UltraPro Short S&P 500 Fund is a leveraged inverse exchange-traded fund designed to deliver daily investment results, before fees and expenses, that correspond to three times the inverse (-3x) of the daily performance of the S&P 500 Index. This fund provides investors with exposure to the opposite direction of the S&P 500, which tracks the performance of 500 of the largest U.S.-listed companies across diverse sectors including technology, finance, healthcare, and consumer goods. It achieves this objective primarily through derivatives such as swap agreements with major financial institutions and futures contracts on the S&P 500, combined with high-quality short-term money market instruments like U.S. Treasury bills and an affiliated money market ETF for cash management and collateral. The fund maintains full investment in these instruments to ensure consistent inverse leveraged exposure, with quarterly distributions and options availability. Founded in 2009, ProShares UltraPro Short S&P 500 Fund serves as a specialized tool in the financial markets for those seeking amplified short-term bets against large-cap U.S. equity performance.