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Name

As of 11/21/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

ProShares Short Bitcoin Strategy ETF

BITI | ETF

$23.13

$95.5 M

3.16%

$0.76

1.03%

Vitals

YTD Return

-62.6%

1 yr return

-67.2%

3 Yr Avg Return

N/A

5 Yr Avg Return

N/A

Net Assets

$95.5 M

Holdings in Top 10

69.5%

52 WEEK LOW AND HIGH

$24.1
$6.08
$30.24

Expenses

OPERATING FEES

Expense Ratio 1.03%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover N/A

Redemption Fee N/A

Min Investment

Standard (Taxable)

N/A

IRA

N/A

Fund Classification

Fund Type

Exchange Traded Fund

Name

As of 11/21/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

ProShares Short Bitcoin Strategy ETF

BITI | ETF

$23.13

$95.5 M

3.16%

$0.76

1.03%

BITI - Profile

Distributions

  • YTD Total Return -62.6%
  • 3 Yr Annualized Total Return N/A
  • 5 Yr Annualized Total Return N/A
  • Capital Gain Distribution Frequency N/A
  • Net Income Ratio N/A
DIVIDENDS
  • Dividend Yield 3.2%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    ProShares Short Bitcoin Strategy ETF
  • Fund Family Name
    ProShares Trust
  • Inception Date
    Jun 21, 2022
  • Shares Outstanding
    N/A
  • Share Class
    N/A
  • Currency
    USD
  • Domiciled Country
    US

Fund Description

The Fund invests in financial instruments that ProShare Advisors believes, in combination, should produce daily returns consistent with the Daily Target. In this manner, the Fund seeks daily returns that correspond to the inverse (-1x) of the price of bitcoin. The Fund does not directly short bitcoin.Bitcoin is a digital asset. The ownership and operation of bitcoin is determined by participants in an online, peer-to-peer network sometimes referred to as the “Bitcoin Network”. The Bitcoin Network connects computers that run publicly accessible, or “open source,” software that follows the rules and procedures governing the Bitcoin Network. This is commonly referred to as the Bitcoin Protocol (and is described in more detail in the section entitled “The Bitcoin Protocol” in the Fund’s Prospectus). Bitcoin may be used to pay for goods and services, stored for future use, or converted to a government-issued currency. As of the date of this Prospectus, the adoption of bitcoin for these purposes has been limited and bitcoin presently is not widely accepted as a means of payment.The value of bitcoin is not backed by any government, corporation, or other identified body. Instead, its value is determined in part by the supply and demand in markets created to facilitate trading of bitcoin. Ownership and transaction records for bitcoin are protected through public-key cryptography. The supply of bitcoin is determined by the Bitcoin Protocol. No single entity owns or operates the Bitcoin Network. The Bitcoin Network is collectively maintained by (1) a decentralized group of participants who run computer software that results in the recording and validation of transactions (commonly referred to as “miners”), (2) developers who propose improvements to the Bitcoin Protocol and the software that enforces the protocol and (3) users who choose which version of the bitcoin software to run. From time to time, the developers suggest changes to the bitcoin software. If a sufficient number of users and miners elect not to adopt the changes, a new digital asset, operating on the earlier version of the bitcoin software, may be created. This is often referred to as a “fork.” The value of the Fund may reflect the impact of these forks.The Index is designed to measure the performance of a single bitcoin traded in USD and seeks to provide a proxy for the bitcoin market. The Index price is a composite of U.S. dollar-bitcoin trading activities reported by certain digital asset trading platforms that are evaluated based on a variety of different criteria, including the trading platforms’ oversight and governance controls, liquidity, capital controls, data transparency and data integrity. The digital asset trading platforms included in the Index are reevaluated quarterly. The Index is constructed and maintained by Bloomberg Index Services Limited. More information about the Index can be found using the Bloomberg ticker symbol “BITCOIN”.Under normal circumstances, the Fund will invest at least 80% of the Fund’s assets in, or provide exposure to, financial instruments that ProShare Advisors believes, in combination, should produce daily returns consistent with the Daily Target.The Fund will invest principally in the financial instruments listed below.●Derivatives — Financial instruments whose value is derived from the value of an underlying asset or rate, such as bitcoin. These derivatives principally include:○Bitcoin Futures Contracts – Standardized, cash-settled bitcoin futures contracts traded on commodity exchanges registered with the Commodity Futures Trading Commission (“CFTC”). The Fund seeks to invest in cash-settled, front-month bitcoin futures.In order to obtain inverse or “short” exposure, the Fund intends to enter into cash-settled bitcoin futures contracts as the “seller.” In simplest terms, in a cash-settled futures market the seller pays the counterparty if the price of a futures contract goes up and receives cash from the counterparty if the price of the futures contract goes down.●Money Market Instruments — The Fund expects that any cash balances maintained in connection with its use of derivatives will typically be held in high quality, short-term money market instruments, for example:○U.S. Treasury Bills — U.S. government securities that have initial maturities of one year or less, and are supported by the full faith and credit of the U.S. government.○Repurchase Agreements — Contracts in which a seller of securities, usually U.S. government securities or other money market instruments, agrees to buy the securities back at a specified time and price.●Reverse Repurchase Agreements – The Fund seeks to engage in reverse repurchase agreements, a form of borrowing or leverage, and uses the proceeds to help achieve the Fund’s investment objective.ProShare Advisors uses a mathematical approach to investing in which it determines the type, quantity and mix of investment positions that it believes, in combination, the Fund should hold to produce daily returns consistent with the Daily Target. For these purposes a day is measured from the time of one net asset value (“NAV”) calculation to the next.The Fund seeks to remain fully invested at all times in financial instruments that, in combination, provide inverse exposure consistent with the investment objective, without regard to market conditions, trends or direction.The Fund seeks to rebalance its portfolio each day so that its exposure to the Index is consistent with the Daily Target. The Index’s movements during the day will affect whether the Fund’s portfolio needs to be rebalanced. For example, if the Index has risen on a given day, net assets of the Fund should fall (assuming there were no Creation Units issued). As a result, the Fund’s exposure will need to be decreased. Conversely, if the Index has fallen on a given day, net assets of the Fund should rise (assuming there were no Creation Unit redemptions). As a result, the Fund’s exposure will need to be increased.In order to maintain its inverse exposure to the Index, the Fund intends to exit its futures contracts as they near expiration and replace them with new futures contracts with a later expiration date. Futures contracts with a longer term to expiration may be priced lower than futures contracts with a shorter term to expiration, a relationship called “backwardation.” When rolling short futures contracts that are in backwardation, the Fund will close its short position by buying the expiring contract at a relatively higher price and selling a longer-dated contract at a relatively lower price. The presence of backwardation would be expected to adversely affect the performance of the Fund.Conversely, futures contracts with a longer term to expiration may be priced higher than futures contracts with a shorter term to expiration, a relationship called “contango.” When rolling short futures contracts that are in contango, the Fund will close its short position by buying the expiring contract at a relatively lower price and selling a longer-dated contract at a relatively higher price. The presence of contango may positively affect the performance of the Fund.The Fund expects to gain inverse exposure by investing a portion of its assets in a wholly-owned subsidiary of the Fund organized under the laws of the Cayman Islands and advised by ProShare Advisors. Because the Fund intends to qualify for treatment as a regulated investment company (“RIC”) under Subchapter M of the Internal Revenue Code of 1986, as amended, the Fund intends to invest no more than 25% of the Fund’s total assets in the subsidiary at each quarter end of the Fund’s tax year. Exceeding this amount may have tax consequences, see the section entitled “Tax Risk” in the Fund’s Prospectus for more information. References to investments by the Fund should be read to mean investments by either the Fund or the subsidiary.Please see “Investment Objectives, Principal Investment Strategies and Related Risks” in the Fund’s Prospectus for additional details.Please see “Investment Objectives, Principal Investment Strategies and Related Risks” in the Fund’s Prospectus for additional details.
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BITI - Performance

Return Ranking - Trailing

Period BITI Return Category Return Low Category Return High Rank in Category (%)
YTD -62.6% -62.5% 107.1% N/A
1 Yr -67.2% -79.8% 41.6% N/A
3 Yr N/A* -83.8% 26.1% N/A
5 Yr N/A* -78.5% 12.2% N/A
10 Yr N/A* -100.0% 6.8% N/A

* Annualized

Return Ranking - Calendar

Period BITI Return Category Return Low Category Return High Rank in Category (%)
2023 -67.0% -94.4% 29.1% N/A
2022 N/A -65.8% 72.8% N/A
2021 N/A -67.8% 86.0% N/A
2020 N/A -37.0% 1180.0% N/A
2019 N/A -41.8% 90.5% N/A

Total Return Ranking - Trailing

Period BITI Return Category Return Low Category Return High Rank in Category (%)
YTD -62.6% -88.1% 25.4% N/A
1 Yr -67.2% -79.8% 41.6% N/A
3 Yr N/A* -83.8% 26.1% N/A
5 Yr N/A* -78.5% 12.2% N/A
10 Yr N/A* -100.0% 6.8% N/A

* Annualized

Total Return Ranking - Calendar

Period BITI Return Category Return Low Category Return High Rank in Category (%)
2023 -66.2% -94.4% 29.1% N/A
2022 N/A -65.8% 72.8% N/A
2021 N/A -92.8% 86.0% N/A
2020 N/A -37.0% 1180.0% N/A
2019 N/A -94.2% 90.5% N/A

BITI - Holdings

Concentration Analysis

BITI Category Low Category High BITI % Rank
Net Assets 95.5 M 800 K 1.66 B N/A
Number of Holdings 9 1 12 N/A
Net Assets in Top 10 43.2 M 0 1.65 B N/A
Weighting of Top 10 69.46% 30.8% 100.0% N/A

Top 10 Holdings

  1. U.S. Treasury Bills 31.88%
  2. Repurchase Agreement 12.52%
  3. Repurchase Agreement 9.65%
  4. Repurchase Agreement 4.81%
  5. CME Bitcoin 4.59%
  6. Repurchase Agreement 3.85%
  7. Repurchase Agreement 0.96%
  8. Repurchase Agreement 0.72%
  9. Repurchase Agreement 0.48%

Asset Allocation

Weighting Return Low Return High BITI % Rank
Cash 		62.41% -150.00% 110.28% N/A
Other 		37.59% -10.28% 250.00% N/A
Stocks 		0.00% -0.11% 99.67% N/A
Preferred Stocks 		0.00% 0.00% 0.00% N/A
Convertible Bonds 		0.00% 0.00% 0.38% N/A
Bonds 		0.00% 0.00% 51.81% N/A

BITI - Expenses

Operational Fees

BITI Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 1.03% 0.50% 2.78% 63.64%
Management Fee 0.95% 0.00% 2.50% 75.56%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee N/A 0.25% 0.25% N/A

Sales Fees

BITI Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 3.00% 4.75% N/A
Deferred Load N/A 1.00% 1.00% N/A

Trading Fees

BITI Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A N/A N/A N/A

Related Fees

Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.

BITI Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover N/A 0.00% 55.00% N/A

BITI - Distributions

Dividend Yield Analysis

BITI Category Low Category High BITI % Rank
Dividend Yield 3.16% 0.00% 15.02% 42.22%

Dividend Distribution Analysis

BITI Category Low Category High Category Mod
Dividend Distribution Frequency Monthly Annually Annually Annually

Net Income Ratio Analysis

BITI Category Low Category High BITI % Rank
Net Income Ratio N/A -2.77% 1.41% N/A

Capital Gain Distribution Analysis

BITI Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Annually

Distributions History

View More +

BITI - Fund Manager Analysis

Tenure Analysis

Category Low Category High Category Average Category Mode
0.21 17.03 9.44 14.22

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