DIG provides 2x leveraged exposure to the S&P Energy Select Sector Index, a market-cap-weighted index of US oil and gas companies. This is a concentrated market that especially captures industry giants. Specifically, the fund typically includes firms involved in oil and gas exploration and production, integrated oil and gas, equipment for oil as well as renewable energy, pipelines, and alternative fuel producers. As a geared product with daily resets, DIG is designed as a short-term trading tool and not a long-term investment vehicle. Long-term returns could materially differ from those of the underlying index due to daily compounding. Prior to Mar. 20, 2023, the fund was called ProShares Ultra Energy that tracked the Dow Jones U.S. Oil & Gas Index.
