ProFunds Announces Mutual Fund and VP Fund Share Splits

BETHESDA, Md.--(BUSINESS WIRE)--ProFunds, a leader in leveraged and inverse fund investing, announced today forward and reverse splits on the ProFunds and VP funds listed below. The forward and reverse splits will not change the value of a shareholder’s investment. ProFunds Mutual Fund Reverse Splits Six funds will reverse split at the following split ratios: Fund Name Investor Class Ticker Service Class Ticker Split Ratio UltraShort Nasdaq-100 USPIX USPSX 1:8 Oil Equipment & Services UltraSector OEPIX OEPSX 1:4 UltraShort Dow 30 UWPIX UWPSX 1:4 UltraShort Emerging Markets UVPIX UVPSX 1:4 UltraShort International UXPIX UXPSX 1:4 UltraBear URPIX URPSX 1:4 ProFunds VP Fund Reverse Splits Four funds will reverse split at the following split ratios: Fund Name Split Ratio CUSIP VP UltraBull 1:4 743185712 VP UltraShort Nasdaq-100 1:4 743185613 VP Short Small-Cap 1:4 74318A661 VP UltraShort Dow 30 1:5 74318X794 All reverse splits will apply to shareholders of record as of the close of the markets on December 11, 2020. The funds will trade at the post-split prices on December 14, 2020. The ticker symbols and CUSIP numbers for the funds will not change. The reverse splits will increase the price per share of each fund with a proportionate decrease in the number of shares outstanding. For example, for a 1-for-5 reverse split, every five pre-split shares held by a shareholder will result in the receipt of one post-split share, which will be priced at five times the net NAV of a pre-split share. Illustration of a Reverse Split The following table shows an example of the effect of a hypothetical 1-for-5 split: # of Shares Owned Hypothetical NAV per Share Value of Shares Pre-Split 1,000 $6.00 $6,000.00 Post-Split 200 $30.00 $6,000.00 ProFunds Mutual Fund Forward Splits Three funds will split at the following split ratios: Fund Name Investor Class Ticker Service Class Ticker Split Ratio Internet UltraSector INPIX INPSX 2:1 UltraNasdaq-100 UOPIX UOPSX 2:1 Consumer Goods UltraSector CNPIX CNPSX 2:1 ProFunds VP Fund Forward Split The following VP fund will split at the following ratio: Fund Name Split Ratio CUSIP VP UltraNasdaq-100 2:1 743185647 The forward split will apply to shareholders of record as of the close of the markets on December 11, 2020. The fund will trade at its post-split price on December 14, 2020. The ticker symbol and CUSIP number for the fund will not change. The split will decrease the price per share of the fund with a proportionate increase in the number of shares outstanding. For example, for a 3-for-1 split, every pre-split share held by a shareholder will result in the receipt of three post-split shares, which will be priced at one-third of the net asset value ("NAV") of a pre-split share. Illustration of a Forward Split The following table shows an example of the effect of a hypothetical 3-for-1 split: # of Shares Owned Hypothetical NAV per Share Value of Shares Pre-Split 100 $30.00 $3,000.00 Post-Split 300 $10.00 $3,000.00 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.

Nov 17, 2020 | www.businesswire.com