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Beacon

BISProShares UltraShort Nasdaq Biotechnology

Take a bet16y track recordRanked #611 of 949 in this goal

Seeks daily investment results that correspond to -2x the daily performance of the Nasdaq Biotechnology Index.

By ProShares · Launched 2010

Annual Cost

0.95%

#4,882 of 5,861 · expensive

Fund Size

$2M

#5,469 of 5,861 · small

Return (1Y)Goal

-53.3%

Track Record

16 years

#753 of 5,861 · established

Performance

Total-return NAV · USD
Growth of $10,000
$6,035-39.6%

Total-return NAV, USD. Net of fund fees, before tax.

What's inside

How Beacon categorizes this fund

Asset class

Equity

Region

North america

Strategy

Inverse

Sector

Health care

Index tracked

Nasdaq Biotechnology Index

What it actually holds

By weight

Concentration

synthetic exposure — holdings shown are derivatives collateral, not the fund's positions

Repurchase Agreement
32.8%
Repurchase Agreement
16.2%
Repurchase Agreement
16.2%
Repurchase Agreement
9.7%
Repurchase Agreement
9.7%
Repurchase Agreement
8.1%
Repurchase Agreement
6.5%
Repurchase Agreement
6.5%
Repurchase Agreement
3.2%
N/A
-3.5%

Asset allocation

Cash
199.9%
Other
100.0%

Risk profile

Last 12 months · Sharpe & Sortino need 3+ years
Volatility (1Y)
40.7%High

Year-on-year price swings

Max drawdown
-95.8%Severe

Worst peak-to-trough loss

Sharpe (3Y)
-0.69Below average
Sortino (3Y)
-0.96Moderate downside risk

Listing

Exchange
NASDAQ Global Select Market

Full fund details

Objective
Seeks daily investment results that correspond to -2x the daily performance of the Nasdaq Biotechnology Index.
Strategy
Invests in derivatives to gain inverse leveraged exposure to the Nasdaq Biotechnology Index, which includes U.S. and non-U.S. biotechnology and pharmaceutical companies. The Fund aims for daily results that are two times the inverse of the Index's performance, rebalancing daily to maintain this target.
Inception date
April 6, 2010
Fund family
ProShares

Our take

Structural notes on how this fund behaves. Read our guide on the 6 warning signs.

Inverse
Warning

You can be right and still lose

This fund returns the opposite of its benchmark's daily move, then resets. Hold it longer and the daily compounding takes over: the market can move your way over a week and you still finish down. It works as a one-day hedge and nothing beyond that.

Sources: Cheng & Madhavan, 'The Dynamics of Leveraged and Inverse ETFs' (2009)

Educational analysis of structural product characteristics. Not investment advice. Always read the fund prospectus and consult a qualified advisor before investing. More

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Data updated on 2026-08-04