DUG Fund Description

The ProShares UltraShort Oil & Gas provides 2x inverse exposure to a price-weighted index that tracks the performance of large US oil and gas companies.

DUG ETF.com Insight

DUG provides 2x leverage and inverse exposure to the Dow Jones U.S. Oil & Gas Index. The fund provides a unique play on a market-cap-weighted index of US energy companies—the sameat 95 bps, DUG is far costlier than its beta-1 cousin index that IYE, the iShares U.S. Energy ETF tracks. Keep in mind that the fund rebalances daily. As a result, compounding and path dependency lead to a lack of predictability in the fund’s long-term returns—especially when compared with something like IYE. However, at 95 bps, DUG is far costlier than its beta-1 cousin. Investors haven’t shied away from it though—DUG has gathered decent assets, with respectable daily dollar volume. Spreads are good, and the fund earns a perfect score for block liquidity.

1 Year

Performance [as of 12/18/14] 1 Month 3 Month YTD 1 Year 3 Years 5 Years 10 Years

DUG
15.46% 35.27% 11.99% 6.43% -21.42% -26.78% --

DUG (NAV)
15.44% 35.27% 11.92% 6.29% -- -- --

Dow Jones U.S. Oil & Gas Index
-8.56% -16.82% -10.49% -8.20% 7.36% 8.32% --
All returns over 1 year are annualized. All returns are total returns unless otherwise stated.

Average Spread

Premium/Discount

Volume

DUG ETF.com/ Block LiquidityAs of 12/19/2014

5
4
3
2
1

This measurement shows how easy it is to trade 25,000 shares of DUG. DUG is rated a 5 out of 5.

DUG Summary Data

ProShares

A company that produces and manages ETFs.

01/30/07

The first date of a fund's operations, as documented by the issuer.

Open-Ended Fund

The organizational structure of the fund or ETN.

0.95%

The net total annual fee a fund holder pays to the issuer.

$58.97 M

The market value of total assets that a fund has accumulated and now manages on behalf of investors.

DUG Portfolio Data

0.00%

A fund’s actual distributed cash flows over the past 12 months as a percent of its NAV

12/24/14

The upcoming date on which the fund trades without its upcoming dividend

DUG Index Data

Dow Jones U.S.
Oil & Gas Index

This is the benchmark an ETF is desigend to track or replicate.

Market Cap

A set of rules that the underlying index provider follows to weight its constituent securities.

Market Cap

A set of rules that the underlying index provider follows to select its constituent securities.

N/A

This is the index that we have chosen as the best-in-class gauge for each segment's broad market.

DUG Fund Structure

Yes

“Yes” means the fund uses over the counter derivatives such as swaps and forwards

No

An indicator of whether or not a fund actively lends its portfolio holdings.

0% / 100%

The division of securities lending revenue between the fund and the issuer.

N/A

The risk of default by the ETN counterparty.

Low

The likelihood that an issuer will shut down a fund for business or regulatory reasons.

DUG Tax Exposures

20.00% / 39.60%

The maximum long-term and short-term U.S. tax rates applicable to a realized capital gain.

--

The average capital gains paid out to shareholders in the past 36 months, measured as a percent of net asset value (NAV) at the time.

No

ETFs that are structured as commodities pools and classified as limited partnerships by the IRS will issue K-1 forms to holders.

DUG Tradability

406,498

It is the daily number of shares traded, averaged over the past 45 trading days.

$20.87 M

It is the daily dollar value of shares traded, averaged over the past 45 trading days.

343,599

Median number of shares traded over the past 45 trading days.

$18.47 M

Median dollar value of shares traded over the past 45 trading days.

0.09%

The difference between the highest price a market participant is willing to pay to buy an ETF and the lowest price at which a market participant is willing to sell an ETF, averaged over the past 45 days, as a percent.

0.00%

The middle value in the ranked set of all premium/discount values over a maximum 12-month period.

1.03% / -0.27%

The greatest amount that the market price exceeded (premium) and fell below (discount) its fair value/net asset value (NAV) over a maximum 12-month period.

None

This flags whether there is currently a systemic issue that has restricted the ability to create or redeem shares of the fund. This may be imposed by the fund's issuer, or by external circumstances.

75,000

The smallest block of ETF shares that an Authorized Participant can either create or redeem at net asset value (NAV) with the issuer in exchange for the underlying shares of the fund.

4.58

The median 45 day share volume divided by the creation unit size of the fund. The higher the number, the more likely that liquidity providers will trade the fund in size, or in odd lots.

0.00%

The standard fee to create or redeem 1 creation unit of an ETF as a percentage of the dollar value of 1 creation unit.

13,107

The total number of net outstanding options contracts for an ETF.

$55.11

The total market value of the assets that an ETF holds less fund expenses.

5

An estimate of liquidity for the underlying baskets of securities, scaled 1 to 5.

Related ETFs to DUG

DDG, ERY

ETFs from within the same segment or closely related segments with similar investment objectives or market exposures.

DUG Commentary & News

22 October 2014
Energy ETFs | ETF.com
8 September 2014
Learning To Love Little ETFs | ETF.com
Dave Nadig
26 August 2014
Oil ETFs | ETF.com