What is the ISIN of ProShares Short S&P500?

The ISIN of ProShares Short S&P500 is US74349Y7537.

What does leveraged daily exposure mean for ProShares Short S&P500?

ProShares Short S&P500 aims to deliver 1 times the daily return of SPY (short/inverse). The leverage resets each trading day, so multi-day returns can differ materially from 1X the underlying's cumulative return.

What is volatility decay and how does it affect ProShares Short S&P500?

Volatility decay (also called compounding drag) occurs because ProShares Short S&P500 rebalances daily. In choppy, sideways markets the cumulative return can significantly trail 1X the underlying's period return — even if the underlying ends flat. The effect intensifies with higher leverage factors and longer holding periods.