ProShares Russell 2000 High Income ETF (ITWO)

ProShares Russell 2000 High Income ETF is an exchange-traded fund from ProShares that pairs exposure to U.S. small-cap stocks, represented by the Russell 2000 Index, with an options strategy designed to generate income.

The fund sells call options on the Russell 2000 and passes the premiums it collects to shareholders as regular distributions. Writing calls produces income but limits how much the fund can participate in sharp gains in small-cap stocks, while the fund remains exposed to declines in the index. It is part of the ProShares High Income series, which applies a similar approach to other major U.S. equity indexes.