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Sunday, August 23, 2026The Morning Brief →Sign in

ProShares Ultra Real Estate

$71.30-0.11% today
577552-WK

The fund invests in financial instruments that the advisors believe, in combination, should produce daily returns consistent with the fund's investment objective. The index is designed to track the performance of REITs and other companies that invest directly or indirectly in real estate through development, management, or ownership, including property agencies. Component companies include, among others, real estate holding and development and real estate services companies and REITs. The fund is non-diversified.

Price & daily flows
70.966.061.171.30DAILY NET FLOWAug 22Dec 19Apr 21Aug 21

SOURCE: MARKET TAPE & DAILY CREATION/REDEMPTION RECORDS · 1Y SHOWN · NET −$9K OVER THIS RANGE

The desk’s read

Money keeps arriving — +$150 of net buying over the past month, while the price has returned +21.2% so far this year. At 0.95% a year it is not the cheapest way in — VNQ runs the same ground at 0.12%.

COMPOSED FROM THE FUND’S OWN DAILY RECORDS · UPDATED WITH EACH REFRESH

$58Massets under management
0.95%expense ratio · $95 per $10,000 a year
+$150net flow, trailing month
6Kavg daily volume, 30 days
39holdings · US-domiciled
2007listed February 1, 2007 · beta 0.56
The book at a glance
WELL+0.8%PLD+0.8%EQIX-1.6%AMT+0.0%DLR-1.9%SPG-0.7%PSA-0.1%VTR+0.4%CBRE+0.2%O-0.9%IRM-0.7%CCI+0.2%EXR-0.3%VICI-0.2%SBAC+1.1%ESS+0.4%WY-0.8%INVH-0.5%KIM-0.6%MAA-0.6%HST+0.5%DOC+0.9%CSGP+0.0%REG-0.6%UDR+0.2%CPT-0.3%EQR1.6%AVB1.8%

CELL SIZE IS PORTFOLIO WEIGHT · COLOR IS TODAY’S MOVE · TOP 40 POSITIONS

HoldingsDownload CSV
#HoldingWeightPriceDay52-wk
1WELLWELLTOWER7.75%$239.22+0.8%
2PLDPROLOGIS6.17%$141.80+0.8%
3EQIXEQUINIX4.82%$1065.39-1.6%
4AMTAMERICAN TOWER3.62%$175.80+0.0%
5DLRDIGITAL REALTY TRUST3.49%$190.62-1.9%
6SPGSIMON PROPERTY GROUP3.37%$218.29-0.7%
7PSAPUBLIC STORAGE3.29%$322.49-0.1%
8VTRVENTAS3.14%$93.06+0.4%
9CBRECBRE GROUP3.09%$152.10+0.2%
10OREALTY INCOME3.10%$62.60-0.9%
11IRMIRON MOUNTAIN2.64%$122.02-0.7%
12CCICROWN CASTLE2.25%$75.51+0.2%
13EXREXTRA SPACE STORAGE2.21%$146.81-0.3%
14VICIVICI PROPERTIES2.01%$26.51-0.2%
15SBACSBA COMMUNICATIONS1.32%$182.59+1.1%

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Sector weights
Real Estate100%
Other70.61%
Finance59.13%
Cash23.27%
Government15.41%
Technology Services2.18%
PORTFOLIO COMPOSITION, LATEST DISCLOSURE
Country weights
United States100%
Other65.99%
PORTFOLIO COMPOSITION, LATEST DISCLOSURE
Performance
1 week-0.8%
1 month-0.1%
3 months+1.5%
6 months+6.1%
YTD+21.2%
1 year+9.7%
3 years

PRICE RETURN, DISTRIBUTIONS NOT REINVESTED

Net flows
1 week
1 month+$150
3 months−$560
YTD−$7K
1 year−$9K

CREATION/REDEMPTION DOLLARS, DAILY RECORDS

Monthly net flows
SepOctNovDecJanFebMarAprMayJunJulAug
DAILY CREATION/REDEMPTION RECORDS, TRAILING TWELVE MONTHS
The risk read
29%realized volatility, 30 days (annualized)
28%realized volatility, 1 year
-16.8%deepest fall from a peak, 1 year
-4.4%where it sits vs. that peak today

The top holding is 7.7% of the book; the top ten carry 42%. Spread across 31+ names, it behaves like roughly 20 equally-weighted positions.

VOLATILITY & DRAWDOWN FROM THE DAILY TAPE · CONCENTRATION FROM THE LATEST DISCLOSED BOOK

Options tape
calls today
puts today
put/call ratio
shares traded
Most-traded holdings, options premiumBullishBearish
O REALTY INCOME$360,502$1M
EQIX EQUINIX$331,354$595,184
BXP BOSTON PROPERTIES$757,017$45,586
SPG SIMON PROPERTY GROUP$335,964$357,345
DLR DIGITAL REALTY TRUST$91,896$471,085

TODAY’S OPTIONS PREMIUM IN THE FUND’S UNDERLYING NAMES

The case against URE

Due diligence cuts both ways. These funds sit on the same shelf and beat URE on at least one dimension that matters — the fee, the asset base, or where the money is going.

FundFeeAssetsFlow, 1MThe case
USRT iShares Core U.S. REIT ETF0.08%$3.7B-87bp on fee · 65× the assetsHead-to-head
VNQ Vanguard Real Estate Index Fund0.12%$36.5B-83bp on fee · 633× the assetsHead-to-head
VNQI Vanguard Global ex-U.S. Real Estate Index Fund0.12%$3.6B-83bp on fee · 63× the assetsHead-to-head
REET iShares Global REIT ETF0.14%$4.7B-81bp on fee · 81× the assetsHead-to-head
ICF iShares Cohen & Steers REIT ETF0.33%$2B-62bp on fee · 35× the assetsHead-to-head
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InstrumentsHarvest substitutesTrade cost at $1MClient tearsheetStress this fund
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