ProShares - UltraShort Silver ETF (ZSL) Analysis

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빠른 답변

ProShares - UltraShort Silver (ZSL) has a last stored price of $34.11, as of the Oct 26, 2026 trading session. It has a 0.95% expense ratio and $186M in assets under management.

In the stored portfolio snapshot, the largest sector allocation is Cash & Others at 100.0%.

ProShares - UltraShort Silver (ZSL) ETF — Price, Holdings & Analysis

ETF 개요

ProShares UltraShort Silver (ZSL) is designed for investors seeking to profit from short-term declines in the price of silver. It aims to provide daily investment results, before fees and expenses, that correspond to two times the inverse (-2x) of the daily performance of the Bloomberg Silver SubindexSM. This leveraged inverse strategy means that if the Bloomberg Silver SubindexSM falls by 1% on a given day, ZSL aims to increase by 2%, and vice versa. ZSL achieves this through holding derivative instruments, primarily focused on silver futures contracts. With its entire portfolio currently allocated to cash and other assets, ZSL's performance is directly tied to its ability to effectively implement its leveraged inverse strategy using these derivatives. Due to the compounding effect of daily returns, ZSL is not intended as a long-term investment vehicle and is best suited for sophisticated investors with a high-risk tolerance who are closely monitoring silver prices. Past performance does not guarantee future results.

위험 지표

Investing in ProShares UltraShort Silver (ZSL) carries substantial risks. As a leveraged ETF, ZSL's volatility is significantly amplified, as demonstrated by its 3-year beta of -3.06. This means that ZSL's price movements are expected to be three times more volatile than the underlying silver index, but in the opposite direction. The fund's 0.95% expense ratio is also a factor, creating a drag on performance, especially if held for extended periods. The fund's concentration in cash and derivatives exposes it to counterparty risk and the complexities of managing these instruments. Furthermore, the daily reset of the leverage can lead to significant deviations from the intended inverse performance over longer time horizons due to the effects of compounding. These factors make ZSL unsuitable for risk-averse investors or those with a long-term investment horizon. Past performance does not guarantee future results.

베타: -3.06

운용보수율

0.95%

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섹터	비중
현금 및 기타	100.0%

국가	비중
기타	100.0%

배당수익률

0.00%

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질문 및 답변

What is ZSL and what does it track?

ProShares UltraShort Silver (ZSL) is an ETF designed to provide twice the inverse of the daily performance of the Bloomberg Silver SubindexSM.

This means that the fund aims to generate a return that is two times the opposite of the daily return of the index, before fees and expenses.

What is the expense ratio for ZSL?

The expense ratio for ProShares UltraShort Silver (ZSL) is 0.95%. This means that for every $10,000 invested in the fund, $95 is deducted annually to cover operating expenses.

While there isn't a specific category average for leveraged inverse silver ETFs, this expense ratio is generally considered high compared to broad market ETFs.

What are the top holdings in ZSL?

As of the latest data, ProShares UltraShort Silver (ZSL) primarily holds its assets in cash and other instruments. The fund's holdings consist of: Cash & Others (100.0%).

This allocation is typical for leveraged and inverse ETFs, as they use derivatives to achieve their investment objectives rather than directly holding the underlying asset. The fund uses these assets to manage its exposure to the Bloomberg Silver SubindexSM through derivative contracts.

Is ZSL a good long-term investment?

ProShares UltraShort Silver (ZSL) is generally not considered a suitable long-term investment. Its leveraged and inverse nature, combined with a 0.95% expense ratio, makes it more appropriate for short-term tactical trading.

The daily reset of the leverage can lead to significant deviations from the intended inverse performance over longer periods due to compounding.

How does ZSL compare to similar ETFs?

ProShares UltraShort Silver (ZSL) stands out due to its leveraged inverse strategy, aiming for twice the inverse of the daily performance of the Bloomberg Silver SubindexSM. Other ETFs may offer inverse exposure to silver, but without the 2x leverage.

ZSL's expense ratio of 0.95% is relatively high compared to non-leveraged silver ETFs.

Does ZSL pay dividends?

ProShares UltraShort Silver (ZSL) does not pay dividends. Its primary objective is to deliver leveraged inverse exposure to the daily performance of the Bloomberg Silver SubindexSM, rather than generating income. The fund's dividend yield is 0.00%.

Investors seeking income should consider alternative investments that prioritize dividend payments.

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