SAAProShares Ultra SmallCap600
Seeks daily investment results that correspond to 2x the daily performance of the S&P SmallCap 600 Index.
By ProShares · Launched 2007
0.95%
#4,882 of 5,861 · expensive
$30M
#4,156 of 5,861 · small
+59.9%
19 years
#403 of 5,861 · established
Performance
Total-return NAV · USDTotal-return NAV, USD. Net of fund fees, before tax.
What's inside
How Beacon categorizes this fundWhat it actually holds
By weightConcentration
synthetic exposure — holdings shown are derivatives collateral, not the fund's positions
Asset allocation
By sector
Risk profile
Last 12 months · Sharpe & Sortino need 3+ yearsYear-on-year price swings
Worst peak-to-trough loss
Listing
- Exchange
- NYSE Arca
Full fund details
- Objective
- Seeks daily investment results that correspond to 2x the daily performance of the S&P SmallCap 600 Index.
- Strategy
- Invests in financial instruments to achieve daily returns consistent with the Daily Target, aiming for 2x exposure to small-cap companies in the U.S. The Fund uses derivatives, including swap agreements, to gain leveraged exposure and rebalances daily to maintain this target.
- Inception date
- January 23, 2007
- Fund family
- ProShares
Similar funds
Same asset class, closest by strategy & exposureOur take
Structural notes on how this fund behaves. Read our guide on the 6 warning signs.
Your return drifts the longer you hold
Leverage amplifies the index's daily move, by 2x or 3x. The fund resets every day, so over weeks and months your real return drifts from that multiple. It can run ahead in a smooth climb and bleed in a choppy one. Hold one for months and you own a different bet than the label suggests.
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