UPW provides 2x leveraged exposure to the S&P Utilities Select Sector Index, a market cap-weighted index of US utilities companies drawn exclusively from the S&P 500. The index includes the following GICS industries: electric, gas, water, and multi-utilities, independent power, and renewable electricity producers. UPW is designed as a short-term trading vehicle, not a long-term investment. It holds swap agreements and resets on a daily basis. As a result, compounding and path dependency make long-term returns difficult to predict when compared with the performance of its underlying index. Prior to March 20, 2023, the fund tracked the Dow Jones US Utilities Index.

NextEra Energy, Inc.

The Southern Company

Duke Energy Corporation

Constellation Energy Corporation

American Electric Power Company, Inc.

Dominion Energy, Inc.

Sempra

Entergy Corporation

Xcel Energy Inc.

Exelon Corporation

Utilities

ProShares Ultra Utilities

UPW Holdings & Sector Breakdown