World’s largest provider of leveraged and inverse ETFs expands its lineup with products investing in top Nasdaq-100 companies

ProShares, a premier provider of ETFs, today announced the expansion of its industry-leading lineup of leveraged and inverse products with the launch of ProShares Ultra Top QQQ (QQUP) and ProShares UltraShort Top QQQ (QQDN).

Both ETFs are the first of their kind: QQUP targets 2x daily returns of the Nasdaq-100 Mega Index, while QQDN targets -2x daily returns of the same index. The Nasdaq-100 Mega Index captures the performance of a concentrated group of the largest Nasdaq-100 companies, currently consisting of Alphabet, Amazon.com, Apple, Broadcom, Meta Platforms, Microsoft, NVIDIA and Tesla.¹ Collectively, this group represents approximately 45% of the tech-heavy Nasdaq-100.²

“Technology has created a world of accelerating change, reshaping the investing landscape before our eyes,” said ProShares CEO Michael L. Sapir. “With the launch of QQUP and QQDN, investors can now access leveraged or short exposure to the largest Nasdaq-100 companies—all with the ease and convenience of a single ETF trade.”

QQUP and QQDN are the latest additions to ProShares’ extensive range of ETFs that are exclusively indexed to the Nasdaq-100 and related indexes, which also includes ProShares UltraPro QQQ (TQQQ), the world’s largest leveraged ETF.³

ProShares is the world’s largest provider of leveraged and inverse ETFs overall, a category that the company pioneered nearly two decades ago.⁴

About ProShares

ProShares has been at the forefront of the ETF revolution since 2006. ProShares manages over $80 billion in assets and offers one of the largest lineups of ETFs. The company is a leader in strategies such as crypto-linked, dividend growth, interest rate hedged bond and geared (leveraged and inverse) ETF investing. ProShares continues to innovate with products that provide strategic and tactical opportunities for investors to manage risk and enhance returns.

¹ As of May 31, 2025. Index holdings are subject to change. See full fund holdings for QQUP and QQDN.

² The Nasdaq-100 Mega Index is designed to target the performance of approximately the top 45% cumulative weight of the Nasdaq-100 Index.

³ Source: Bloomberg, as of May 31, 2025

⁴ Source: Morningstar, as of May 31, 2025

Geared ProShares ETFs seek daily investment results that correspond, before fees and expenses, to a multiple of (e.g., 2x or –2x) the daily performance of its underlying benchmark (the “Daily Target”). While the Fund has a daily investment objective, you may hold Fund shares for longer than one day if you believe it is consistent with your goals and risk tolerance. For any holding period other than a day, your return may be higher or lower than the Daily Target. These differences may be significant. Smaller index gains/losses and higher index volatility contribute to returns worse than the Daily Target. Larger index gains/losses and lower index volatility contribute to returns better than the Daily Target. The more extreme these factors are, the more they occur together, and the longer your holding period while these factors apply, the more your return will tend to deviate. Investors should consider periodically monitoring their geared fund investments in light of their goals and risk tolerance.

Investing involves risk, including the possible loss of principal. ProShares ETFs are generally 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 ETFs should lose money when their benchmarks rise. Each fund may concentrate its investments in certain sectors. Narrowly focused investments typically exhibit higher volatility. Technology companies may experience intense competition, obsolescence of existing technology, changing economic conditions, and government regulation. Investors could potentially lose the full value of their investment within a single day. Please see the summary and full prospectuses for a more complete description of risks. There is no guarantee any ProShares ETF will achieve its investment objective.

Shares of any ETF are generally bought and sold at market price (not NAV) and are not individually redeemed from the fund. Your brokerage commissions will reduce returns.

“QQQ®,” “Nasdaq-100 Index®,” “Nasdaq-100®” and “Nasdaq-100 Mega Index” are registered trademarks of The Nasdaq OMX Group Inc. and have been licensed for use by ProShares. This ETF is not sponsored, endorsed, sold or promoted by The Nasdaq OMX Group Inc. and The Nasdaq OMX Group Inc. makes no representation regarding the advisability of investing in this ETF. THE Nasdaq OMX GROUP INC. MAKES NO WARRANTIES AND BEARS NO LIABILITY WITH RESPECT TO THE ETFs.

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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“With the launch of QQUP and QQDN, investors can now access leveraged or short exposure to the largest Nasdaq-100 companies—all with the ease and convenience of a single ETF trade.”