# LTL (ProShares Ultra Communication Services)

ProShares · Leveraged ETFs · data as of Sep 30, 2026

Three months to Sep 30, 2026: LTL returned +0.5% where its own daily promise gave +1.8%, 1.4 points short.

## Key facts

- LTL, what XLC did: +1.4%, as of Sep 30, 2026.
- LTL, what 2 times a day gives: +1.8%, as of Sep 30, 2026.
- LTL, what the fund returned: +0.5%, as of Sep 30, 2026.
- LTL, the fund itself cost: −1.4 pts, as of Sep 30, 2026.
- LTL, net assets: $5m (issuer page, as of Sep 30, 2026).
- LTL, expense ratio: 0.95% (485BPOS XBRL, Sep 25, 2026).

## LTL over each window to Sep 30, 2026

| Window | Fund | XLC | +2x the move | Difference | XLC moved about |
| --- | --- | --- | --- | --- | --- |
| 1 month | −0.9% | −0.1% | −0.2% | −0.7 pts | 21% |
| 3 months | +0.5% | +1.4% | +2.9% | −2.4 pts | 20% |
| 6 months | −3.3% | +0.3% | +0.7% | −4.0 pts | 18% |
| 1 year | −17.1% | −5.1% | −10.2% | −6.9 pts | 16% |
| 3 years | +130.9% | +75.2% | +150.3% | −19.4 pts | 17% |
| Since launch | +181.7% | +140.9% | not meaningful over this window | not meaningful over this window | 22% |

## Every published field

| Field | Value | Source |
| --- | --- | --- |
| Sets out to return | +2 times the daily move of XLC, reset daily | ETFIQ |
| Multiple a holder actually got over the window | XLC moved +1.4% over this window, too little to read a multiple from | ETFIQ |
| Underlying | XLC | ETFIQ |
| Segment | sector or country, sector | ETFIQ |
| Net assets | $5m | issuer page, as of Sep 30, 2026 |
| Expense ratio | 0.95% | 485BPOS XBRL, Sep 25, 2026 |
| Launched | Jan 4, 2010 | ETFIQ |
| Underlying volatility over the window | 20% annualized | ETFIQ |

## Questions

### Did LTL return +2 times XLC?

Over the window to Sep 30, 2026, XLC moved +1.4% and LTL returned +0.5%. 2 times that move is +2.9%, so the fund came out 2.4 points short of it.

### Why does LTL not return +2 times over a year?

Because it resets daily. LTL aims at +2 times each day's move, and daily results compound. Over a run where the underlying falls and comes back, compounding a levered daily return leaves a holder behind what +2 times the period move would suggest; over a steady run in one direction it can leave them ahead. The longer the holding, and the more the underlying moves about, the further apart the two figures get.


## Cite this page

ETFIQ, LTL, data as of Sep 30, 2026. https://etfiq.com/funds/ltl
Free to use with attribution; the underlying files are at https://etfiq.com/data/.

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