ProShares Launches First ETFs Targeting 2x Daily Returns of Platinum and Palladium

World’s largest provider of geared ETFs adds platinum, palladium, and copper to complement its crude oil, natural gas, silver, and gold offerings

BETHESDA, Md.--(BUSINESS WIRE)--ProShares, the world’s leader in geared (leveraged and inverse) investing, today announced the expansion of its commodity ETF lineup with the launch of the first ETFs targeting 2x daily returns of platinum and palladium. ProShares is also introducing an ETF targeting 2x daily returns of copper.

The ETFs launched today are:

• ProShares Ultra Platinum K-1 Free ETF (UPLT): The first and only ETF that targets 2x daily returns of platinum.

• ProShares Ultra Palladium K-1 Free ETF (UPAL): The first and only ETF that targets 2x daily returns of palladium.

• ProShares Ultra Copper K-1 Free ETF (UCOP): Targets 2x daily returns of copper.

The funds are K-1 free and provide Form 1099 tax reporting.

“For the first time, investors can magnify the daily returns of platinum and palladium through an ETF,” said ProShares CEO Michael L. Sapir. “With these launches, ProShares now provides 11 geared commodity ETFs.”

ProShares is the world’s largest provider of geared ETFs, with more than 110 products and over $62 billion in assets across a lineup spanning equities, fixed income, commodities, currencies, crypto, and volatility.¹ ProShares offers the largest lineup of geared commodity ETFs in the U.S.

About ProShares

ProShares has been at the forefront of the ETF revolution since 2006, offering one of the industry’s largest ETF lineups. Together with its mutual fund affiliate, ProFunds, the firm manages more than $85 billion in assets.² The company is a leader in strategies such as dividend growth, high income, interest rate hedged bond, crypto and geared (leveraged and inverse) ETF investing. ProShares continues to innovate with products that provide strategic and tactical opportunities for investors to manage risk and enhance returns.

To learn more about the company and career opportunities, visit us on LinkedIn or at ProShares.com.

Each ETF invests in financial instruments that provide exposure to its underlying commodity, but each ETF does not invest directly in commodities.

Sources:

¹ Morningstar, as of 3/31/26
² As of 3/31/26

K-1 Free: Schedule K-1 is a tax form used by certain commodity ETFs. Investors in the three funds being launched today will receive Form 1099 tax reporting rather than Schedule K-1 reporting.

These ProShares ETFs each seek daily investment results that correspond, before fees and expenses, to 2x the daily performance of their underlying benchmarks (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.

Investing involves risk, including the possible loss of principal. Leveraged ProShares ETFs are non-diversified and entail certain risks, including risks associated with the use of derivatives (swap agreements, futures contracts and similar instruments), imperfect benchmark correlation, leverage and market price variance, all of which may increase volatility and decrease performance. Each ETF’s performance is closely tied to its underlying commodity (i.e., platinum, palladium, copper) which can be highly volatile due to changes in supply and demand, production costs, investor sentiment, geopolitical events, and currency fluctuations. The use of derivative instruments subjects each Fund to counterparty and credit risk, which could result in significant losses. In addition, conditions in the commodity futures markets, such as those that create costs when rolling futures contracts or broader market disruptions, may negatively impact returns. Under extreme market conditions, pricing anomalies could occur and lead to substantial losses. Each ETF invests in financial instruments that provide exposure to its underlying commodity, but each ETF does not invest directly in commodities. Please see the summary and full prospectuses for a more complete description of risks. There is no guarantee any ProShares ETF will achieve Its Investment objective.

These ETFs may not be suitable for all investors. Shares of any ETF are generally bought and sold at market price (not NAV) and are not individually redeemed from the fund. Brokerage commissions will reduce returns.

Carefully consider the Investment objectives, risks, charges and expenses of ProShares before Investing. This and other information can be found in the summary and full prospectuses. Read them carefully before investing.

ProShares are distributed by SEI Investments Distribution Co., which is not affiliated with the funds advisor.