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BIS - ProShares UltraShort Nasdaq Biotechnology

ProShares UltraShort Nasdaq Biotechnology logo BIS (ProShares UltraShort Nasdaq Biotechnology) is an exchange-traded fund (ETF) managed by ProShares Advisors LLC. The ETF seeks to provide investors with twice (2x) the inverse (opposite) daily return of the Nasdaq Biotechnology Index, which is a benchmark that tracks the performance of biotechnology and pharmaceutical companies listed on the Nasdaq Stock Market.

As a leveraged inverse ETF, BIS uses financial derivatives and other investment strategies to amplify the daily inverse returns of the underlying index. This means that if the Nasdaq Biotechnology Index falls by 1% on a given day, BIS should deliver a return of 2% (before fees and expenses) in the opposite direction. However, if the index rises by 1%, BIS would be expected to deliver a loss of 2%.

As of September 2021, the BIS ETF had total net assets of around $180 million and was invested in a diversified portfolio of inverse derivative securities, primarily focused on the Nasdaq Biotechnology Index. The fund's top holdings included inverse securities from companies such as ProShares, Direxion, and Rafferty Asset Management.

In terms of performance, BIS has been relatively volatile over the long term, with significant swings in both directions. While it can be used to hedge against market downturns in the biotechnology and pharmaceutical sectors, investors should keep in mind that leveraged inverse ETFs like BIS can be highly volatile and carry significant risks.

Additionally, the ETF charges a relatively high expense ratio of 0.95%, which is higher than the average expense ratio for ETFs in the biotechnology sector. Investors should carefully consider their risk tolerance and investment objectives before investing in BIS or any other leveraged i




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