Gearing Up for October 31, 2024

Compare the performance of ProShares Geared ETFs in the market.                    O ProShares Gearing Up Insights to Jump Start Your Trading Day   PROSHARES DAILY BULL/BEAR INDICATOR Bearish Neutral Bullish 0 25 50 75 100 Following the market close on August 19, 2024, the ProShares Bull/Bear Indicator reached new all time highs. The previous all time high occured on July 16, 2024. ProShares Daily Bull/Bear Indicator is based on the assets under management, in conjunction with each fund’s multiple, for ProShares’ leveraged (i.e., 2x, 3x) S&P 500 ETFs relative to ProShares' Inverse (i.e., -1x, -2x, -3x) S&P 500 ETFs. Each value is intended to indicate investor sentiment as of the prior trading day. Always ranging between 0-100, the maximum and minimum values of the indicator correspond to the highest and lowest figures derived since January 10, 2010. A future reading that exceeds the highest, or falls below the lowest historic figure, would trigger a rescaling event. This number is for illustrative purposes only and is not intended to be investment advice nor a forecast of future events. Past performance does not guarantee future results. What You Need to Know: October 31, 2024 AI DARLING DRAGS TECH Super Micro fell 33% after Ernst & Young resigned from further acting as the firm’s auditor. The decline dragged tech-heavy benchmarks lower. The PHLX Semiconductor Index retreated 3.4%. The S&P 500 fell 0.3%. The Nasdaq-100 Index fell 0.8%. The Dow Jones Industrial Average fell 0.2%. The VIX rose more than 5% to 20.35. The yield on the 10-year U.S. Treasury moved higher again, closing at 4.303%. WTI crude oil futures climbed to $68.61. Nymex natural gas futures closed 0.5% lower. Gold rose to within striking distance of $2800/troy ounce. WITH A GRAIN OF SALT The October ADP report showed a surprising increase of 233,000 private-sector jobs, far exceeding the 113,000 jobs economists expected. However, experts advise caution when interpreting these numbers, as ADP data often diverges from official job figures. ADP’s track record for predicting official payroll numbers is no better than averaging recent trends. For instance, ADP data in 2017 reported job gains after Hurricane Irma, but official numbers showed a decrease. October’s data also indicated a substantial job increase of 60,000 in the South Atlantic region, including Florida, despite Hurricane Milton. While the storm’s impact was likely limited, it’s unlikely to have driven the job numbers higher. STEADY AS SHE GOES The U.S. economy grew at an annual rate of 2.8% in the third quarter as consumer spending continued to drive growth. Inflation has been easing, with consumer prices rising at only a 1.5% rate, allowing Americans to maintain robust spending thanks to rising wages and low unemployment. Stronger-than-expected incomes, savings, and renewed consumer confidence have offset concerns about slowing consumer spending. However, high interest rates have slowed the housing market, with rising mortgage rates making homeownership less accessible. The strong economic performance may face challenges in the fourth quarter, but ongoing investments and a gradual cooling of inflation keep the outlook cautiously optimistic. ProShares Geared ETFs—Prior Day Snapshot* View and Download Source Data NET FLOWS BY ASSET CLASS B Leveraged M Inverse 30-Day Range AMOUNT ($ MILLION) Equities Fixed Income Commodities 30-day range for each asset class uses a different scale - TOP ETFS BY NET FLOWS B Leveraged M Inverse AMOUNT ($ MILLION) % ASSETS UNDER MANAGEMENT UGL-Ultra Gold SDS-UltraShort S&P500 TWM-UltraShort Russell2000 SJB-Short High Yield SQQQ-UltraPro Short QQQ 0% 5% Charts only include funds with >$25M in AUM - BOTTOM ETFS BY NET FLOWS B Leveraged M Inverse AMOUNT ($ MILLION) UCO-Ultra Bloomberg Crude Oil SPXU-UltraPro Short S&P500 BOIL-Ultra Bloomberg Natural Gas SH-Short S&P500 TQQQ-UltraPro QQQ -$40 -$20 $0 % ASSETS UNDER MANAGEMENT UCO-Ultra Bloomberg Crude Oil ETHT-Ultra Ether ETF BOIL-Ultra Bloomberg Natural Gas SPXU-UltraPro Short S&P500 SH-Short S&P500 1 -2.5% 0% Charts only include funds with >$25M in AUM - LARGEST POSITIVE INCREASE IN VOLUME VS. PRIOR DAY B Leveraged M Inverse FUND NAME TQQQ - UltraPro QQQ SDS - UltraShort S&P500 SH - Short S&P500 UDOW - UltraPro Dow30 DOG - Short Dow30 VOLUME CHANGE ($) $63,163,159 $50,668,259 $50,612,438 $39,674,719 $22,756,374 VOLUME CHANGE (%) 2% | 27% [ 22% [ 27% |} oo I - LARGEST ONE DAY RETURNS B Leveraged M Inverse % POSITIVE 5% 0% - SSG uco REW UltraShort Ultra UltraShort Semiconductors Bloomberg Technology Crude Oil FXP UltraShort FTSE China 50 sQQQ UltraPro Short QQQ ZsL UltraShort Silver % NEGATIVE 0% - -5% usD Sco Ultra UltraShort Semiconductors Bloomberg Crude Oil ROM Ultra Technology XPP Ultra FTSE China 50 uUcYB Ultra Nasdaq Cybersecurity TQQQ UltraPro [elele] - All chart data is as of the prior trading day. The performance quoted represents past performance and does not guarantee future results. Investment return and principal value of an investment will fluctuate so that an investor's shares, when sold or redeemed, may be worth more or less than the original cost. Shares are bought and sold at market price (not NAV) and are not individually redeemed from the fund. Market price returns are based upon the midpoint of the bid/ask spread at 4:00 p.m. ET (when NAV is normally determined for most funds) and do not represent the returns you would receive if you traded shares at other times. Your brokerage commissions will reduce returns. Current performance may be lower or higher than the performance quoted. For the most recent month-end and standardized performance, click here. View and Download Source Data Today's Key Events • 8:30 AM ET: September personal income and spending • 8:30 AM ET: September PCE index • 8:30 AM ET: Initial jobless claims • 8:30 AM ET: Third-quarter U.S. employment cost index • 9:45 AM ET: October Chicago PMI • Companies reporting earnings include Apple, Amazon, Intel, Comcast, Mastercard, and Uber. Connect with ProShares Provide Feedback Explore Our Geared ETFs - *All chart data is as of the prior trading day and includes ProShares geared (leveraged and inverse) equity, fixed income, commodity and currency ETFs. Gearing Up is published on weekdays, except for U.S. market holidays, as observed by NYSE. To subscribe to Gearing Up, please click here. Some ProShares ETFs seek daily investment results that correspond, before fees and expenses, to a multiple of (e.g. 2x or -2x) the daily performance of its underlying benchmark (the “Daily Target”). While the Funds have a daily investment objective, you may hold a Fund’s shares for longer than one day if you believe it is consistent with your goals and risk tolerance. For any holding period other than a day, your return may be higher or lower than the Daily Target. These differences may be significant. Smaller index gains/losses and higher index volatility contribute to returns worse than the Daily Target. Larger index gains/losses and lower index volatility contribute to returns better than the Daily Target. The more extreme these factors are, the more they occur together, and the longer your holding period while these factors apply, the more your return will tend to deviate. Investors should consider periodically monitoring their geared fund investments in light of their goals and risk tolerance. For more information on risks, please read the prospectus. Investing involves risk, including the possible loss of principal. Geared ProShares ETFs are non-diversified and entail certain risks, including risk associated with the use of derivatives (swap agreements, futures contracts and similar instruments), imperfect benchmark correlation, leverage and market price variance, all of which can increase volatility and decrease performance. Short ProShares ETFs should lose money when their benchmarks or indexes rise. Please see their summary and full prospectuses for a more complete description of risks. There is no guarantee any ProShares ETF will achieve its investment objective. 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. Separate ProShares Trust II prospectuses are available for Volatility, Commodity, and Currency ProShares. This is not intended to be investment advice. ProShares ETFs (ProShares Trust and ProShares Trust II) are distributed by SEI Investments Distribution Co., which is not affiliated with the funds’ advisor or sponsor. SIDCO is located at 1 Freedom Valley Drive, Oaks, PA 19456. Please do not reply to this email; replies are not monitored. To reach ProShares, please contact our Client Services team at 866-776-5125 or email [email protected]. 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