ProShares Announces Changes to ETF Lineup
ProShares Announces Changes to ETF Lineup
BETHESDA, Md.–(BUSINESS WIRE)–ProShares announced today plans to liquidate and close one ProShares Trust ETF, based on an ongoing review of ProShares product offerings. Specifically, the following ETF will be liquidated and closed:
|
Fund Name |
Ticker |
Exchange |
|
ProShares S&P 500® Bond ETF |
SPXB |
NYSE Arca |
The last day the fund will accept creation and redemption orders is April 22, 2024. Trading in the fund on NYSE Arca will be halted prior to market open on April 23, 2024. Beginning on April 23, 2024, the fund will not be traded on NYSE Arca, and there will be no secondary market for fund shares. On or about April 23, 2024, the fund will begin the process of liquidating its portfolio and will no longer be managed in accordance with its investment objective. Any shareholders remaining in the fund will have their shares redeemed for cash at net asset value on or about May 6, 2024.
About ProShares
ProShares has been at the forefront of the ETF revolution since 2006. ProShares now offers one of the largest lineups of ETFs, with more than $65 billion in assets. The company is the 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.
Important Information
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.
Investing involves risk, including the possible loss of principal. This ProShares ETF entails certain risks, including imperfect benchmark correlation and market price variance, that may decrease performance. Bonds will decrease in value as interest rates rise. The fund concentrates its investments in certain sectors. Narrowly focused investments typically exhibit higher volatility. 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. Please see summary and full prospectuses for a more complete description of risks.
The “S&P 500®/MarketAxess® Investment Grade Corporate Bonds Index” and related trademarks 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 they have been licensed for use by S&P Dow Jones Indices LLC (“SPDJI”) and its affiliates. ProShares have not been passed on by SPDJI and its affiliates as to their legality or suitability. ProShares based on the S&P 500/MarketAxess Investment Grade Corporate Bonds Index are not sponsored, endorsed, sold or promoted by SPDJI, Dow Jones, S&P or their respective affiliates and third party licensors, and they make no representation regarding the advisability of investing in ProShares. THESE ENTITIES AND THEIR AFFILIATES AND THIRD PARTY LICENSORS MAKE NO WARRANTIES AND BEAR NO LIABILITY WITH RESPECT TO PROSHARES.
ProShares are distributed by SEI Investments Distribution Co., which is not affiliated with the funds’ advisor or sponsor.
Contacts
Media Contact:
Tucker Hewes, Hewes Communications Inc., 212.207.9451, tucker@hewescomm.com
Investor Contact:
ProShares, 866.776.5125, ProShares.com