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ITWOProShares Russell 2000 High Income ETF

Get income1y track recordRanked #844 of 1,650 in this goal

Tracks the performance of the Cboe Russell 2000 Daily Covered Call Index.

By ProShares · Launched 2024

Annual Cost

0.55%

#2,914 of 5,854 · average

Fund Size

$197M

#2,367 of 5,854 · mid-size

Dividend YieldGoal

1.58%

Track Record

1 year

#3,683 of 5,854 · seasoned

Performance

Total-return NAV · USD
Growth of $10,000
$13,361+33.6%

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

What's inside

How Beacon categorizes this fund

Asset class

Alternative

Region

North america

Strategy

Option income

Index tracked

Cboe Russell 2000 Daily Covered Call Index

What it actually holds

By weight

Concentration

Top 10 holdings = 15.7% of fund✓ well diversified

Repurchase Agreement
4.0%
Repurchase Agreement
2.0%
Repurchase Agreement
2.0%
INVESCO GOVT AND AGCY LEX
1.7%
Repurchase Agreement
1.2%
Repurchase Agreement
1.2%
Repurchase Agreement
1.0%
Bloom Energy Corp.
1.0%
Repurchase Agreement
0.8%
Repurchase Agreement
0.8%

Asset allocation

Stocks
86.9%
Cash
13.1%

Risk profile

Last 12 months · Sharpe & Sortino need 3+ years
Volatility (1Y)
18.9%Moderate

Year-on-year price swings

Max drawdown
-24.8%Moderate

Worst peak-to-trough loss

Sharpe (3Y)
Unavailable

Needs 3+ years of history

Sortino (3Y)
Not yet

Needs 3+ years of history

Listing

Exchange
Cboe BZX

Full fund details

Objective
Tracks the performance of the Cboe Russell 2000 Daily Covered Call Index.
Strategy
Invests in a covered call strategy combining a long position in the Russell 2000 Index with a short position in Russell 2000 Index call options. Seeks high income with total return similar to the Russell 2000 over the long term.
Inception date
September 4, 2024
Fund family
ProShares

Our take

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

Covered call
Warning

The big yield isn't extra money

The headline distribution comes from selling call options, which caps the fund's upside. Across a full market cycle that trade costs more than it brings in — often 1 to 3 percentage points a year against just holding the index. Monthly payouts make the gap easy to miss on a return summary.

Sources: Israelov & Ndong, 'A Devil's Bargain: When Generating Income Undermines Investment Returns' (NDVR, 2023)

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 2026-08-03