ProShares Ultra Semiconductors (USD) holdings & weights
Per-holding contribution · concentration · sector skew — a deep read
Fund overview
This is a US-listed ETF from ProShares. It tracks the Dow Jones U.S. Semiconductors Index. Key facts — expense ratio 0.94%; net assets about $2.6B; inception Jan 30, 2007. Its 1-year return is +55.56%.
Fund details
Fund overview
This is a US-listed ETF from ProShares. It tracks the Dow Jones U.S. Semiconductors Index. Key facts — expense ratio 0.94%; net assets about $2.6B; inception Jan 30, 2007. Its 1-year return is +55.56%.
16 identified stocks · net exposure / NAV 50.23%. Display weights are normalized to 100%; calculations retain original exposures without an additional leverage multiplier. Cash and unallocated contracts are excluded from stock attribution.
Weight and calculation basis
16 identified stocks · net exposure / NAV 50.23%. Display weights are normalized to 100%; calculations retain original exposures without an additional leverage multiplier. Cash and unallocated contracts are excluded from stock attribution.
We have this ETF's holdings, but the prices for those particular listings are outside our quote coverage (currently Korea- and US-listed securities). So today's contribution and return are not computed — showing 0% would claim it did not move, which is a different statement. The holdings and weights below follow the calculation basis above.
Today's summary
Its top 10 holdings make up about 94.6% of the fund. The concentration index (HHI) is 2637 — High — concentrated, and the largest sector is Information Technology (100%). The higher the concentration, the more one stock or sector drives the whole ETF's return.
Structural health
A five-axis read on how this fund is built. It is not a return forecast or a recommendation, and a low score does not mean a bad fund — leveraged products score low by design. Each axis shows the figure behind it.
Its concentration index is above 2,500 (2,637) — a few names drive the return.
Information Technology alone is 100%. This is effectively a bet on that one industry — if the sector falls, diversification will not help.
0.94% a year is on the high side — about 9.4% over a decade, so it needs a reason to earn that.
Net assets of $2.6B — liquid enough to trade, and unlikely to be wound down.
A 2x leveraged fund. It resets exposure daily, so over more than a few days the result drifts from "index move × 2". Built for short holds.
Concentration and diversification
Structural health
A five-axis read on how this fund is built. It is not a return forecast or a recommendation, and a low score does not mean a bad fund — leveraged products score low by design. Each axis shows the figure behind it.
Its concentration index is above 2,500 (2,637) — a few names drive the return.
Information Technology alone is 100%. This is effectively a bet on that one industry — if the sector falls, diversification will not help.
0.94% a year is on the high side — about 9.4% over a decade, so it needs a reason to earn that.
Net assets of $2.6B — liquid enough to trade, and unlikely to be wound down.
A 2x leveraged fund. It resets exposure daily, so over more than a few days the result drifts from "index move × 2". Built for short holds.
Top 16 holdings
9 derivative positions are excluded. Stock contributions do not explain the entire ETF return.
Weights are normalized to 100% of absolute exposures across analysed positions, including positions outside this top list. Cash, collateral and unverified assets are excluded. Contributions retain original signed NAV exposures; leverage is not applied twice.
Normalized to 100% of analysed positions
Weights are normalized to 100% of absolute exposures across analysed positions, including positions outside this top list. Cash, collateral and unverified assets are excluded. Contributions retain original signed NAV exposures; leverage is not applied twice.
| # | Holding | Weight |
|---|---|---|
| 1 | NVIDIANVDA | 47.28% |
| 2 | BroadcomAVGO | 14.27% |
| 3 | Micron TechnologyMU | 9.06% |
| 4 | Advanced Micro DevicesAMD | 7.88% |
| 5 | IntelINTC | 4.08% |
| 6 | Lam ResearchLRCX | 3.01% |
| 7 | Applied MaterialsAMAT | 2.97% |
| 8 | Texas InstrumentsTXN | 2.31% |
| 9 | KLAKLAC | 1.97% |
| 10 | Marvell TechnologyMRVL | 1.81% |
| 11 | Analog DevicesADI | 1.75% |
| 12 | QUALCOMMQCOM | 1.67% |
| 13 | Monolithic Power SystemsMPWR | 0.54% |
| 14 | NXP SemiconductorsNXPI | 0.54% |
| 15 | TeradyneTER | 0.46% |
| 16 | Astera LabsALAB | 0.40% |
Holdings below 0.5% or outside the top list are folded into “Others” and omitted above.
Where the weight sits — sector mix
Listed equity weights summed by sector and normalized to 100%. Each band is one sector's share.
Industry breakdown
HHI sums the squared weights. The more it leans on a few names, the higher it goes — and the more the whole ETF moves with them.
Leverage / inverse caveat
This fund tracks its index at 2x.
That 2x applies to a **single day**. Held longer, the daily reset makes the period return drift from 2x the index: if the index chops up and down and returns to where it started, this fund is still down. That is volatility decay.
It bites hardest in sideways markets and compounds with holding time. These are built for short directional trades.
How concentrated is it
ProShares Ultra Semiconductors leans heavily on a handful of names. Its concentration index (HHI) is 2637, and the top 10 holdings make up 94.6% of equity weight — closer to owning a few stocks than a diversified basket.
If you bought it for diversification, note that when one or two of those names move sharply, most of the fund's day comes from them.
HHI squares each weight and sums them: 10,000 means one stock is everything, and the more evenly spread the holdings, the closer it falls to zero.
Where the sector weight sits
By sector, Information Technology alone is 100% — whatever the fund is called, this is a bet on that industry.
Bad news for the sector moves the whole fund. Worth checking against anything else you hold in the same space.
Weights above sum the individually listed equities and normalize that equity total to 100%.
How much it overlaps others
Even its closest peer, SHOC, overlaps only 25% (16 shared names).
Funds filed under the same label can hold quite different companies, so pairing this one with another may genuinely spread risk.
What it is made of
The fund holds 52 positions in total; this page lists the largest 16 and folds the rest into "Others".
Equities are 50.2% of the fund, the rest swaps and cash — index exposure built synthetically rather than by owning the shares, which adds counterparty risk.
The expense ratio is 0.94% a year, which is not cheap. Fees come out of returns every year you hold, so it is worth checking whether the same index is available for less.
This page is not investment advice. Investment decisions and responsibility are your own.
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