Company Announcements

Products allow investors to participate in flagship U.S. stock indexes, with a patent-pending approach that adapts each day to expected volatility.

BETHESDA, Md.--(BUSINESS WIRE)--Jun. 26, 2025-- ProShares, a premier provider of ETFs, today announced the launch of three groundbreaking ETFs based on an innovative, patent-pending methodology:

• ProShares S&P 500 Dynamic Buffer ETF (FB)
• ProShares Nasdaq-100 Dynamic Buffer ETF (QB)
• ProShares Russell 2000 Dynamic Buffer ETF (RB)

Each of these new Dynamic Buffer ETFs allow investors to capture gains on days the underlying index rises, up to a cap, while targeting protection against the first 1% to as much as 5% of losses on days the index falls.

The downside protection—or buffer—that these ETFs seek adjusts automatically to target greater protection as expected volatility rises and less protection when expected volatility falls. Both the potential protection of the buffer and the upside participation cap adjust proportionally—the higher the expected volatility, the larger the buffer and the higher the cap.

"We believe our first-of-their-kind Dynamic Buffer ETFs will be highly attractive to the many investors seeking equity market exposure who are concerned about drawdowns, but find that other strategies, like conventional buffer funds, tend to be complex and restrictive," said ProShares CEO Michael L. Sapir. "We feel confident that the dynamic protection afforded by these new funds will allow investors to rest easier at night and make them more likely to include equity exposure in their portfolios, even during market volatility—which is often the worst time to exit."

Buffer ETFs have grown to $65 billion in assets under management.¹ Certain attributes of existing buffer ETFs have limited their appeal to many investors since, unless they are bought at the start of an extended fixed period (often as long as a year) and held until the end of that period, they can provide unexpected outcomes. ProShares’ Dynamic Buffer ETFs avoid this pitfall by not requiring holding for a lengthy period to obtain the benefit of buffer protection. This represents a notable breakthrough—and a break from past limitations of this fund category.

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 Source: Bloomberg, as of May 31, 2025

Each ProShares Dynamic Buffer ETF’s Index employs a Dynamic Daily Buffer Strategy that combines long exposure to an underlying broad-based index with both long and short options on the underlying index having one day to expiration. This combination targets upside participation, up to a daily Cap, while seeking to provide a level of downside protection—or “Target Buffer”—against losses ranging from the first 1% of losses to as much as the first 5% of losses each day. The Target Buffer adjusts dynamically each day based on the level of expected market volatility, targeting a greater level of protection when expected market volatility is higher. The strategy’s Cap on daily upside participation is adjusted dynamically in a similar manner and is designed to be lower when expected volatility is lower, and higher when expected volatility is higher.

There can be no guarantee that the ETF’s Dynamic Daily Buffer Strategy will provide a level of downside protection up to the Target Buffer, or that the ETF will participate in upside returns up to the daily Cap. The ETF may underperform its underlying index over short or long periods of time, potentially significantly. The ETF’s Cap and Target Buffer are each reset daily based on expectations of market volatility, and investors may experience losses to the extent market volatility exceeds such expectations. Even if the ETF’s Dynamic Daily Buffer Strategy is successful, the ETF will be exposed to underlying index losses that exceed the Target Buffer, and the ETF will not participate in underlying index gains that exceed the daily Cap. If the ETF’s Dynamic Daily Buffer Strategy is unsuccessful, the ETF will be exposed to investment losses, which could be significant. The outcomes that the Dynamic Daily Buffer Strategy seeks to provide are measured from the close of one business day to the next; shares traded intraday should not be expected to achieve the same investment outcome as the ETF. Shares traded after the Cap or Target Buffer have been reached should not expect to benefit from such Cap or Target Buffer that day.

Investing involves risk, including the possible loss of principal. ProShares ETFs are generally non-diversified and entail certain risks, including risks associated with the use of derivatives (swap agreements, futures contracts and similar instruments), imperfect benchmark correlation, and market price variance, all of which can increase volatility and decrease performance. Please see 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.

The “S&P 500” and “S&P 500 Daily Dynamic Buffer Index” are products of S&P Dow Jones Indices LLC and its affiliates and have been licensed for use by ProShares. "S&P^®" is a registered trademark of Standard & Poor's Financial Services LLC ("S&P") and "Dow Jones^®" is a registered trademark of Dow Jones Trademark Holdings LLC ("Dow Jones") and have been licensed for use by S&P Dow Jones Indices LLC and its affiliates. “Nasdaq,” “Nasdaq-100 Index,” “Nasdaq-100,” and “Nasdaq-100 Dynamic Buffer Index” are registered trademarks of Nasdaq, Inc. and are licensed for use by ProShare Advisors LLC. London Stock Exchange Group plc and its group undertakings are collectively, the “LSE Group” ©LSE Group 2024. FTSE Russell is a trading name of certain of the LSE Group companies. The “Cboe Russell 2000 Daily Buffer Index” and “Russell” are trademarks of the relevant LSE Group companies and are used by any other LSE Group company under license. All rights in the FTSE Russell indexes or data vest in the relevant LSE Group company which owns the index or the data. None of these entities accept any liability for any errors or omissions in the indexes or data, and no party may rely on any indexes or data contained in this communication. No further distribution of data is permitted without the relevant company’s express written consent. These entities do not promote, sponsor or endorse the content of this communication. ProShares ETFs have not been passed on by these entities and their affiliates as to their legality or suitability. ProShares ETFs based on these indexes are not sponsored, endorsed, sold or promoted by these entities and their respective affiliates, and they make no representation regarding the advisability of investing in ProShares. THESE ENTITIES AND THEIR AFFILIATES MAKE NO WARRANTIES AND BEAR NO LIABILITY WITH RESPECT TO PROSHARES.

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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Media Contact
Steve Schaefer, Hewes Communications
212-207-9456
steve@hewescomm.com

Investor Contact
ProShares
866-776-5125
info@proshares.com

Source: ProShares