ProShares - S&P 500 High Income ETF

Frequently Asked Questions About ISPY

What does ISPY invest in?

The fund's investment approach involves strategically deploying capital into a collection of financial instruments that ProShare Advisors believes will collectively replicate the performance of the underlying benchmark. Typically, the fund allocates a minimum of 80% of its total assets to securities that comprise the index or to other investments with comparable economic attributes.

What is the expense ratio of ISPY?

ProShares - S&P 500 High Income ETF (ISPY) charges an expense ratio of 0.55%. This is the annual fee deducted from fund assets to cover management and operations.

What is ISPY's distribution yield?

ISPY's trailing-twelve-month yield is 5.56%, calculated from the sum of distributions over the past year divided by the current price.

How does ISPY's covered-call strategy work?

ISPY sells call options against the stocks (or index) it holds, collecting premium income that gets passed through to shareholders as distributions. The strategy generates above-market income in flat or rising markets but caps upside. When the underlying rallies past the strike, the gains above the strike go to the option buyer, not the fund.

How big is ISPY?

ProShares - S&P 500 High Income ETF (ISPY) manages $1.17B in total assets. AUM determines bid-ask liquidity and the fund's vulnerability to closure. Funds below ~$50M are at higher risk of liquidation.

Is ISPY actively managed or an index fund?

ISPY's management style is described in the fund's prospectus. See the description on the Summary tab for the published strategy.