Mobile Telecommunications ProFund Changes to Communications Services

World News: . []

ProFunds, a leader in leveraged and inverse fund investing, announced today that its Mobile Telecommunications UltraSector ProFund will change benchmarks, scheduled to occur after the market closes on May 20, 2019. The fund will change its benchmark from the Dow Jones U.S. Mobile Telecommunications Index to the new S&P Communication Services Select Sector Index. To more accurately reflect its holdings, the fund’s name will change to Communications Services UltraSector ProFund.

Index Change Details


Fund Name


New Fund






Current Index

  New Index

UltraSector ProFund




Dow Jones U.S.


Services Select
Sector Index


About ProFunds

ProFunds, founded in 1997, is a premier provider of a diverse lineup of mutual funds offering trading flexibility to all shareholders. In addition to classic broad-market index funds, ProFunds offers leveraged and inverse funds that track a variety of broad market, sector and non-equity benchmarks. Together with ProShares, which launched the first U.S. leveraged and inverse exchange traded funds (ETFs) in 2006, ProFunds and its affiliates are global leaders in leveraged and inverse fund investing.

Many ProFunds routinely employ leveraged investment techniques that magnify gains and losses, and result in greater volatility in value. Each geared (leveraged or inverse) ProFund seeks a return that is a multiple (e.g., 1.5x, -1x) of the return of an index or other benchmark (target) for a single day. Due to the compounding of daily returns, geared ProFunds' returns over periods other than one day will likely differ in amount and possibly direction from the target return for the same period. These effects may be more pronounced in funds with larger or inverse multiples and in funds with volatile benchmarks. Investors should monitor their ProFunds holdings consistent with their strategies, as frequently as daily. For more on risks, please read the prospectus.

ProFunds are not suitable for all investors because of the sophisticated techniques the funds employ. Investing involves risk, including the possible loss of principal. ProFunds entail certain risks, including risk associated with the use of derivatives (swap agreements, futures contracts and similar instruments), imperfect benchmark correlation, leverage and market price variance, all of which can increase volatility and decrease performance. For more on correlation, leverage and other risks, please read the prospectus. There is no guarantee any ProFund will achieve its investment objective.

All ProFunds are subject to active investor risk. There are no restrictions on the size and frequency of trades and no transaction fees. The frequent exchanges our policies permit can decrease performance, increase expenses and cause investors to incur tax consequences. Other brokerage or service fees may apply.

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

ProFunds are distributed by ProFunds Distributors, Inc.

More news and information about ProFunds

Published By:

Business Wire: 14:35 GMT Wednesday 20th March 2019

Published: .

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