ProShares Ultra S&P 500 Equal Weight (URSP)

ProShares Ultra S&P 500 Equal Weight is a leveraged index fund from ProShares. It seeks daily investment results equal to two times (200%) the daily performance of the S&P 500 Equal Weight Index, which holds the same companies as the S&P 500 but gives each one an equal weight instead of weighting by market capitalization.

The fund uses swap agreements and other derivatives alongside direct holdings to achieve its leverage. The 2x objective applies to a single day, and compounding means results over longer periods can differ substantially from twice the index's return.

The fund is intended for short-term traders seeking magnified exposure to U.S. large caps without the concentration of a cap-weighted index.