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Launched · SEC filings

ProShares UltraShort Semiconductors

SSGNYSE ArcaProSharesCThis 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.

$16.38+0.68 (+4.30%)

As of Nov 10, 2026, 11:25 AM ET

C46/ 100

Rank 28 of 54 in Leveraged Inverse (2x & Other)

C46/100Rank 28 of 54inLeveraged Inverse (2x & Other)
Intraday session: up, 24 prints from 15.70 to 16.38. Range 15.57 to 16.54. Use the arrow keys to read each point.16.0016.2010 AM12 PM2 PM4 PM
Expense ratio
0.95%*
Fund size
$50M
1Y total return
−49.6%
Yield · Last 12 months
5.65%
Holdings
2
Avg volume · 30D
813K sh
52W range
low $9.45high $38.11
Launched
Filings
SEC EDGAR

*After a fee waiver that ends Sep 30, 2027. Without it: 1.33%.

The ETF.net SSG Grade

Based on 5 of 6 pillars

C

Score 46 out of 100

Category
Leveraged Inverse (2x & Other)⁠
Rank
28 of 54
Six-pillar profile for SSG. Scores out of 100: Cost 50, Risk 17, Mission not scored, Tradability 62, Holdings 44, Durability 63. Strongest: Durability (63). Weakest: Risk (17). Based on 5 of 6 pillars.

Score 46 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.

  • Cost

    The fund’s net expense ratio, ranked against its category.
    C50 out of 100
    Rank 1 of 54

  • 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.
    F17 out of 100
    Rank 51 of 54

  • Tradability

    How easy the fund is to trade: daily volume, and how far its price strays from net asset value.
    B62 out of 100
    Rank 15 of 54

  • Holdings

    How concentrated the fund is, and how complete and current its disclosed holdings are.
    C44 out of 100
    Rank 7 of 16

  • Durability

    Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.
    B63 out of 100
    Rank 10 of 54

Our read on SSG

ETF.net Research

In short

CChip stocks cut both ways. SSG is ProShares' -2x daily short on the Dow Jones U.S. Semiconductors Index, built one trading day at a time and live since 2007. Fee: 0.95% net of a waiver through September 30, 2027 (1.33% gross).

Stated mandate

The fund targets daily, pre-fee and pre-expense returns that are twice the opposite of the Dow Jones U.S. Semiconductors SM Index's daily performance.

Why people hold it

  • Targets twice the inverse of the Dow Jones U.S. Semiconductors Index each day, before fees: a defined, mechanical way to express a bearish chip view in a regular brokerage account.proshares.com
  • Listed in January 2007, so it has traded through multiple full semiconductor cycles, long before the AI-chip era. ProShares bills it as its only -2x fund on the chip industry.proshares.com
  • 0.95% net of a waiver through September 30, 2027 (1.33% gross) sits near the category median and level with ProShares' DOG and PSQ at 0.95% net, each waived to the same date.

Worth knowing

  • The leverage resets daily. Hold longer and results follow the compounded path, not -2x the period move; in choppy or rising chip tape that gap widens.proshares.com
  • Double leverage on a single, famously volatile industry means outsized moves in both directions. ProShares' own materials frame these funds as positions to monitor daily.proshares.com
  • It is a small fund that pays quarterly, and the 1.33% gross fee is what applies if the waiver is not extended past September 30, 2027.

SSG Performance

Launched Jan 30, 2007

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

SSG$5,043
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$11,339
Nov 7, 2025 to Nov 9, 2026. SSG $5,043. SPY $11,339. Use the arrow keys to read each point.$2,500$5,000$7,500$10,000Nov 2025May 2026Nov 2026

Nov 7, 2025 – Nov 9, 2026

Returns run to the Nov 9, 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 SSG. Periods over one year show the average yearly return.
PeriodSSG
Year to date−47.4%
1 month+48.8%
3 months+38.6%
1 year−49.6%
3 yearsper year−70.3%
5 yearsper year−60.8%
10 yearsper year−59.6%

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 SSG
YearReturn barSSG
2026 YTD−47.4%
2025−70.1%
2024−77.5%
2023−78.7%
2022+37.4%

SSG in the news

SSG 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 Nov 9, 2026.
5.65%Last 12 months
Payout per share
$0.89Last 12 months
Last payment
$0.14 per share
Paid on
Shares bought on or after this date do not qualify for this distribution.
Frequency
Quarterly

Distribution history

2018–2026

One bar per payment. 24 payments from 2018 to 2026 YTD. Jun 20, 2018 $24.52; Sep 26, 2018 $30.78; Dec 26, 2018 $187.75; Mar 20, 2019 $127.29; Jun 25, 2019 $171.75; Sep 25, 2019 $77.09; Dec 24, 2019 $53.58; Mar 25, 2020 $18.87; Dec 22, 2022 $8.94; Mar 22, 2023 $9.72; Jun 21, 2023 $9.63; Sep 20, 2023 $6.36; Dec 20, 2023 $8.32; Mar 20, 2024 $2.31; Jun 26, 2024 $1.77; Sep 25, 2024 $2.27; Dec 23, 2024 $1.88; Mar 26, 2025 $1.40; Jun 25, 2025 $0.44; Sep 24, 2025 $0.49; Dec 24, 2025 $0.48; Mar 25, 2026 $0.18; Jun 24, 2026 $0.08; Sep 23, 2026 $0.14. Use the arrow keys to read each point.201820192020202120222023202420252026YTD
Ex-datePay dateAmount per share
Sep 23, 2026Sep 29, 2026$0.14
Jun 24, 2026Jun 30, 2026$0.08
Mar 25, 2026Mar 31, 2026$0.18
Dec 24, 2025Dec 31, 2025$0.48
Sep 24, 2025Sep 30, 2025$0.49
Jun 25, 2025Jul 1, 2025$0.44
Mar 26, 2025Apr 1, 2025$1.40
Dec 23, 2024Dec 31, 2024$1.88
Sep 25, 2024Oct 2, 2024$2.27
Jun 26, 2024Jul 3, 2024$1.77
Mar 20, 2024Mar 27, 2024$2.31
Dec 20, 2023Dec 28, 2023$8.32

See all 24 payments⁠

$10,000 in SSG 10 years ago paid $47.06 in dividends.⁠

SSG Risk

Risk pillarF17 out of 100Rank 51 of 54 in Leveraged Inverse (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.
56.0%
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.
−2.03
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.
−99.7%
Trough Oct 2026
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.
−3.47
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.

SSG Cost

Compare SSG and QQQD

Overpaying vs QQQD, cheapest in Leveraged Inverse (2x & Other)

$7,890

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

  • SSG 0.95%

    $17,869

  • QQQD 0.50% Cheapest

    $9,979

$10,000
30 years

Cost over time

  • SSG 0.95%
  • QQQD 0.50%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$5K$10K$15K$20K051015202530SSG $17,869QQQD $9,979

Year by year

YearSSGQQQDOverpaying
10$1,678$900$778
20$6,322$3,460$2,862
30$17,869$9,979$7,890
How the 0.95% is worked out

Full fee 1.33%− waiver 0.38%= you pay 0.95%

The waiver ends Sep 30, 2027. After that the fee is 1.33% unless ProShares renews it. Source: prospectus, Sep 2026.

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