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ProShares changes benchmarks for Silver and Gold ETFs


Each of the ProShares Ultra Silver and the ProShares UltraShort Silver ETFs (the Silver Funds) and the ProShares Ultra Gold and the ProShares UltraShort Gold ETFs (the Gold Funds) are to change their respective benchmarks on or about 7 January 2019.

The new benchmark for the Silver Funds (tickers: AGQ and ZSL) will be the Bloomberg Silver Subindex (ticker: BCOMSI) and the new benchmark for the Gold Funds (tickers: UGL and GLL) will be the Bloomberg Gold Subindex (ticker: BCOMGC).
The Bloomberg Silver and Gold Subindexes are single-commodity indexes designed to reflect the performance of silver and gold, as measured by the price of COMEX silver and gold futures contracts, respectively.
In order to facilitate the implementation of the benchmark changes, beginning on January 4 2019 the Silver and Gold Funds will strike their net asset values (“NAVs”) as of 1:25 pm ET and 1:30 pm ET, respectively, and their creation and redemption order cut-off times will be 1:00 pm ET.

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