ROM vs USD

ROMAProShares Ultra Technology

USDBProShares Ultra Semiconductors

In short

ROM The original 2x tech trade. Since 2007, ROM has aimed at twice the daily move of the S&P 500's technology sector: a double dose in a category now stacked with triples.

USD The 2007 original in leveraged chip exposure: 2x the daily move of a Dow Jones U.S. semiconductor index, in a corner of the market where 3x grabs the headlines. Costs a flat 0.94%, no waiver.

Stated mandate

ROM ROM seeks daily investment results, before fees and expenses, corresponding to twice the daily performance of the S&P Technology Select Sector SM Index.

USD The Fund seeks daily results, before fees and expenses, equal to two times the daily performance of the Dow Jones U.S. Semiconductors Index for a single day.

Why people hold it

• ROM Two times, not three. A 2x daily target means smaller swings and less compounding drag than a 3x fund chasing the same sector.sec.gov
• Live since January 2007, so it has run through the 2008 crash and the full tech cycle since. Long mileage is rare in geared funds.
• 0.93% a year, flat, with no waiver propping it up. Peer QLD runs 0.89%, but only net of a waiver through September 30, 2027.
• One of the strongest implementations in the leveraged-bull pack, from an issuer that has run geared funds since the category's early days.proshares.com

• USD Listed in 2007, among the first leveraged sector ETFs to come to market, and still a multi-billion-dollar, actively traded fund.proshares.com
• Two times, not three. Same daily-reset machinery as triple-leveraged chip funds, with a smaller multiplier doing the work.proshares.com
• 0.94% flat, no temporary waiver holding it down, and a hair above sibling ROM at 0.93%. That lands near the median for leveraged funds.
• Rules-based chip exposure, not a hand-built AI basket: roughly 40 US semiconductor names from a float-adjusted, cap-weighted S&P Dow Jones index.spglobal.com

Worth knowing

• ROM The 2x target resets at each close, so results over weeks or months depend on the path the sector takes, not just where it ends up.sec.govproshares.com
• Trades thinner than the category's headline names, so spreads and limit orders matter, especially in size.
• About 80 tech names from the S&P 500. That is one concentrated sector bet, doubled, in both directions.

• USD The 2x target applies to a single day. Hold longer and compounding takes over, so results over a stretch can differ from 2x the index over that stretch.proshares.com
• Cap weighting plus a narrow industry means a few giants steer the index, and the fund doubles whatever they do that day, up or down.spglobal.com
• Exposure comes from swaps and other financial instruments, so financing and counterparty terms sit between the index and what the fund delivers.proshares.com

Full ROM profile⁠

Full USD profile⁠