ProShares ETFs Announce Zero Capital Gain Distributions
ProShares, the nation’s fifth largest ETF provider,1
announced today that it expects that none of its 108 equity and
fixed-income ETFs will pay any 2011 capital gain distributions.
“Tax efficiency is a key investor benefit that ETF providers strive to
deliver,” said Michael L. Sapir, Chairman and CEO of ProShare Advisors
LLC, ProShares’ investment advisor. “We expect 2011 to be the second
consecutive year that shareholders of ProShares ETFs will not have
received any capital gain distributions.”
Capital gain distribution estimates are subject to change. The planned
distribution dates for any fourth quarter income dividends are available
at proshares.com. Capital gain distribution and income dividend amounts
will vary from year to year. For specific tax advice, ProShares
recommends that investors seek advice from a qualified professional.
ProShares is the nation’s fifth largest provider of ETFs, with more than
$26 billion in assets. ProShares offers investors opportunities to
manage risk and seek returns through a diverse array of ETFs, including
the largest lineup of geared (leveraged and inverse) ETFs.2
ProShares is part of ProFunds Group, which was founded in 1997 and
includes nearly $30 billion in mutual fund and ETF assets.3
Short or Ultra ProShares ETFs seek returns that are 3x, 2x, -1x, -2x or
-3x 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. Investors should monitor their holdings
consistent with their strategies, as frequently as daily. For more on
correlation and other risks, please read the prospectus.
Investing involves risk, including the possible loss of principal.
ProShares are non-diversified and entail certain risks, including 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 ProShares should lose money when their
benchmarks or indexes rise. See the 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. A separate ProShares
Trust II prospectus is available for Volatility, Commodity
and Currency ETFs.
ProShares are distributed by SEI Investments Distribution Co., which is
not affiliated with the funds’ advisor or sponsor.
1 Source: Bloomberg, October 31, 2011.
2 Source: Lipper, based on a worldwide analysis of all of the
known providers of funds in these categories. The analysis covered ETFs
and ETNs by the number of funds and assets (as of 6/30/2011).