Skip to content
etf.net

Launched

ProShares Ultra Nasdaq Cloud Computing

SKYUNasdaqProSharesCThis fund multiplies its index's move each day and resets that multiple daily. Because daily returns compound, its long-run return can differ from the headline multiple.

$45.11−3.56 (−7.32%)

At close: Nov 2, 2026, 4:00 PM ET

C40/ 100

Rank 37 of 99 in Leveraged Long (2x & Other)

C40/100Rank 37 of 99inLeveraged Long (2x & Other)
Intraday session: down, 79 prints from 48.67 to 45.11. Range 44.79 to 49.00. Use the arrow keys to read each point.46.0047.0048.0010 AM12 PM2 PM4 PM
Expense ratio
0.95%*
Fund size
$4M
1Y total return
+9.0%
Yield · Last 12 months
0.47%
Holdings
66
Avg volume · 30D
5.57K sh
52W range
low $22.55high $58.86
Launched

*After a fee waiver that ends Sep 30, 2027. Without it: 5.86%.

The ETF.net SKYU Grade

Based on 5 of 6 pillars

C

Score 40 out of 100

Category
Leveraged Long (2x & Other)⁠
Rank
37 of 99
Six-pillar profile for SKYU. Scores out of 100: Cost 51, Risk 44, Mission not scored, Tradability 64, Holdings 73, Durability 54. Strongest: Holdings (73). Weakest: Risk (44). Based on 5 of 6 pillars.

Score 40 of 100 falls in the C band. A is 70 or higher, B 55 to under 70, C 40 to under 55, D 25 to under 40, F under 25.

Very small fund, grade capped at C.

The cap holds the Score at 40 or below, so B and A are out of reach.

The pillars earned
52
This cap took
−12
Published Score
40 Grade C

  • Cost

    The fund’s net expense ratio, ranked against its category.
    C51 out of 100
    Rank 32 of 99

  • Mission

    Whether the fund did what it promised, tested against its stated mandate.
    Not scored

  • Risk

    How the fund held up when markets fell: downside volatility, drawdowns and tail loss.
    C44 out of 100
    Rank 58 of 98

  • Tradability

    How easy the fund is to trade: daily volume, and how far its price strays from net asset value.
    B64 out of 100
    Rank 24 of 99

  • Holdings

    How concentrated the fund is, and how complete and current its disclosed holdings are.
    A73 out of 100
    Rank 4 of 27

  • Durability

    Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.
    C54 out of 100
    Rank 49 of 99

Our read on SKYU

ETF.net Research

In short

CA 2x daily play on the cloud stack. The index scores companies by how many layers they run (infrastructure, platform, software) and weights them by that score, and SKYU aims to double its daily move. A one-day-at-a-time tool.

Stated mandate

The fund seeks daily returns equal to twice the daily performance of the ISE CTA Cloud Computing Index, before fees and expenses.

Why people hold it

  • Weight is earned by role, not size: 3 points for infrastructure, 2 for platform, 1 for software, modified equal weight, with constituents capped at 4.5% at each rebalance.nasdaq.comnasdaqomx.comnasdaqomx.com 2
  • The fee is 0.95% net of a waiver through September 30, 2027 (5.86% gross), near the category median and level with ProShares stablemates like DDM at 0.95%.
  • Not a two-stock theme sleeve: roughly 70 cloud names, from infrastructure giants down to subscription software, inside one leveraged wrapper.
  • The underlying ISE CTA Cloud Computing Index launched back in 2007, well before cloud became a marketing word, and SKYU has tracked its 2x mandate since 2021.nasdaqomx.com

Worth knowing

  • The 2x target applies to a single day. Hold longer and compounding takes over, so results can drift well away from twice the index move, especially in choppy markets.proshares.com
  • A small fund that trades thinly, so bid-ask spreads can run wide and larger orders can push the price around.
  • Cloud is one slice of tech and the fund is non-diversified, so a bad stretch for software multiples lands at double speed.proshares.com

SKYU Performance

Launched Jan 19, 2021

Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.

Not enough history yet.
SKYU$10,902
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$11,199
Oct 31, 2025 to Oct 30, 2026. SKYU $10,902. SPY $11,199. Use the arrow keys to read each point.$5,000$7,500$10,000$12,500Oct 2025Apr 2026Oct 2026

Oct 31, 2025 – Oct 30, 2026

Returns run to the Oct 30, 2026 close, with cash distributions reinvested. Each period starts on the same date that many months or years earlier. Periods over one year show the average yearly return.

Trailing total return for SKYU. Periods over one year show the average yearly return.
PeriodSKYU
Year to date+32.9%
1 month−6.4%
3 months+20.3%
1 year+9.0%
3 yearsper year+47.7%
5 yearsper year−1.2%
10 yearsFund is under 10 years oldper yearNo data

With distributions reinvested.

Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.

Annual total returns for SKYU
YearReturn barSKYU
2026 YTD+32.9%
2025+2.8%
2024+65.8%
2023+105.7%
2022−75.9%
2021+7.1%

History from Jan 21, 2021

SKYU in the news

SKYU Dividends

Adds up every distribution paid per share over the last 12 months, divided by the last completed close. Distributions are counted by ex-date. Data through Oct 30, 2026.
0.47%Last 12 months
Payout per share
$0.23Last 12 months
Last payment
$0.0078 per share
Paid on
Shares bought on or after this date do not qualify for this distribution.
Frequency
Quarterly

Distribution history

2024–2026

One bar per payment. 8 payments from 2024 to 2026 YTD. Sep 25, 2024 $0.03; Dec 23, 2024 $0.04; Mar 26, 2025 $0.0054; Sep 24, 2025 $0.08; Dec 24, 2025 $0.12; Mar 25, 2026 $0.06; Jun 24, 2026 $0.04; Sep 23, 2026 $0.0078. Use the arrow keys to read each point.202420252026YTD
Ex-datePay dateAmount per share
Sep 23, 2026Sep 29, 2026$0.0078
Jun 24, 2026Jun 30, 2026$0.04
Mar 25, 2026Mar 31, 2026$0.06
Dec 24, 2025Dec 31, 2025$0.12
Sep 24, 2025Sep 30, 2025$0.08
Mar 26, 2025Apr 1, 2025$0.0054
Dec 23, 2024Dec 31, 2024$0.04
Sep 25, 2024Oct 2, 2024$0.03

$10,000 in SKYU 5 years ago paid $70.89 in dividends.

SKYU Risk

Risk pillarC44 out of 100Rank 58 of 98 in Leveraged Long (2x & Other)

This fund targets a multiple of the daily move of its index and resets daily. Hold it longer than one reset and compounding makes the return diverge from that target. In choppy markets it can lose value even when the index ends flat.

How much the fund’s monthly returns vary, scaled to a year.
53.9%
Annualised · 36 months to Oct 2026
How it’s calculated: standard deviation

The sample standard deviation of monthly total returns, multiplied by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Total returns include reinvested distributions.

Return above 3-month US Treasury bills per unit of volatility.
0.90
vs 3-month T-bills · to Oct 2026
How it’s calculated: Sharpe ratio

Subtract each month’s Treasury-bill return from the fund’s monthly total return.

Divide the average of those excess returns by their sample standard deviation, then multiply by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Each month uses the Treasury yield quoted at the end of the previous month.

The largest fall from a peak to the low that followed.
−83.0%
Trough Jan 2023
How it’s calculated: maximum drawdown

The largest percentage decline from an earlier peak, using total returns with reinvested distributions.

Uses up to five years through the last close, with at least 12 months required.

How strongly the fund’s returns move with its asset-class index.
2.89
vs its asset-class index
How it’s calculated: beta

The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.

FMP measures it over up to five years of monthly returns.

SKYU Cost

Compare SKYU and WX

Overpaying vs WX, cheapest in Leveraged Long (2x & Other)

$13,714

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

  • SKYU 0.95%

    $17,869

  • WX 0.20% Cheapest

    $4,155

$10,000
30 years

Cost over time

  • SKYU 0.95%
  • WX 0.20%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$5K$10K$15K$20K051015202530SKYU $17,869WX $4,155

Year by year

YearSKYUWXOverpaying
10$1,678$365$1,313
20$6,322$1,421$4,901
30$17,869$4,155$13,714
How the 0.95% is worked out

Full fee 5.86%− waiver 4.91%= you pay 0.95%

The waiver ends Sep 30, 2027. After that the fee is 5.86% unless ProShares renews it. Source: prospectus, Sep 2026.

Other funds in Leveraged Long (2x & Other)

See others