ProShares launches leveraged ETF targeting S&P 500 equal weight index

ProShares announced the launch of Ultra S&P 500 Equal Weight (URSP), an exchange-traded fund designed to deliver twice the daily returns of the S&P 500 Equal Weight Index. The fund represents the only ETF targeting leveraged exposure to this equal-weighted benchmark.

The S&P 500 Equal Weight Index assigns each company a uniform weight of 0.2% at its quarterly rebalance, contrasting with the traditional S&P 500 that weights stocks by market capitalization. This approach reduces concentration in large companies, with over one-third of the traditional S&P 500's weight currently concentrated in seven companies.

"The S&P 500 for a long time has been the most widely followed U.S. large-cap benchmark," said ProShares CEO Michael L. Sapir. "We are pleased to offer the only levered ETF benchmarked to the S&P 500 Equal Weight Index for those investors who desire magnified exposure to S&P 500 companies less dominated by the biggest names and the technology sector."

The new fund expands ProShares' suite of leveraged and inverse ETFs, which manages $60 billion in assets. The company's existing products include UltraPro QQQ (TQQQ), identified as the world's largest leveraged ETF with assets measured as of July 31, 2025.

ProShares manages over $85 billion in total assets across ETFs and its mutual fund affiliate ProFunds. The company entered the ETF market in 2006 and operates as the largest provider of leveraged and inverse ETFs globally, offering funds linked to stock indexes, individual stocks, fixed income, commodities, currencies, cryptocurrencies, and volatility measures.

The information is based on a company press release statement.

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