ProShares Announces Changes to NAV Calculation and Cut-Off Time for Seven ETFs
Mar 23, 2021
Bethesda, MD – Effective Wednesday, March 24, 2021 seven ProShares ETFs will advance their Net Asset Value (NAV) calculation and purchase cut-off time by one hour. The new NAV calculation time will be 4:00 p.m. ET and Cut-Off time will be 3:30 p.m. ET.
Due to this change, the reference benchmark ticker will also change (noted below). As of Wednesday, March 24, 2021 creation and redemption activity will receive the 4:00 p.m. ET NAV.
There are no changes to the funds' underlying methodologies or strategies, and no action is required by shareholders.
| Ticker | Fund | Current NAV Calc Time (In ET) |
New NAV Calc Time (In ET) |
Current Cut-Off Time (In ET) |
New Cut-Off Time (In ET) |
Current Reference Benchmark | New Reference Benchmark |
|---|---|---|---|---|---|---|---|
| TBX | ProShares Short 7-10 Year Treasury | 3:00 p.m. | 4:00 p.m. | 2:30 p.m | 3:30 p.m. | IDCOT7TR | IDCOT74 |
| TBF | ProShares Short 20+ Year Treasury | 3:00 p.m. | 4:00 p.m. | 2:30 p.m | 3:30 p.m. | IDCOT20T | IDCOT204 |
| UST | ProShares Ultra 7-10 Year Treasury | 3:00 p.m. | 4:00 p.m. | 2:30 p.m | 3:30 p.m. | IDCOT7TR | IDCOT74 |
| UBT | ProShares Ultra 20+ Year Treasury | 3:00 p.m. | 4:00 p.m. | 2:30 p.m | 3:30 p.m. | IDCOT20T | IDCOT204 |
| TTT | ProShares UltraPro Short 20+ Year Treasury | 3:00 p.m. | 4:00 p.m. | 2:30 p.m | 3:30 p.m. | IDCOT20T | IDCOT204 |
| PST | ProShares UltraShort 7-10 Year Treasury | 3:00 p.m. | 4:00 p.m. | 2:30 p.m | 3:30 p.m. | IDCOT7TR | IDCOT74 |
| TBT | ProShares UltraShort 20+ Year Treasury | 3:00 p.m. | 4:00 p.m. | 2:30 p.m | 3:30 p.m. | IDCOT20T | IDCOT204 |
Prospectus Supplement dated March 15, 2021
For more information about ProShares Creation Redemption Fees, click here
Geared (leveraged or short) ProShares ETFs seek returns that are a multiple of (e.g., 2x or -2x) the return of an index or other benchmark (target)for a single day, as measured from one NAV calculation to the next. Due to the compounding of daily returns, ProShares' returns over periods other than one day will likely differ in amount and possibly direction from the target return for the same period. These effects may be more pronounced in funds with larger or inverse multiples and in funds with volatile benchmarks. Investors should monitor their ProShares holdings consistent with their strategies, as frequently as daily. For more on correlation, leverage and other risks, please read the prospectus.
Investing involves risk, including the possible loss of principal. ProShares ETFs are generally non-diversified, and each entails certain risks, which may include risk associated with the use of derivatives (swap agreements, futures contracts and similar instruments), imperfect benchmark correlation, leverage and market price variance, all of which can increase volatility and decrease performance. Short positions lose value as security prices increase. Narrowly focused investments typically exhibit higher volatility. Investments in smaller companies typically exhibit higher volatility. Smaller company stocks also may trade at greater spreads or lower trading volumes, and may be less liquid than stocks of larger companies. Please see summary and full prospectuses for a more complete description of risks. There is no guarantee any ProShares ETF will achieve its investment objective.
Carefully consider the investment objectives, risks, charges and expenses of ProShares before investing. This and other information can be found in their summary and full prospectuses. Read them carefully before investing.
ProShares are distributed by SEI Investments Distribution Co., which is not affiliated with the funds' advisor or sponsor.
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