ProFunds Announces Mutual Fund and ProFund VP Share Splits

BETHESDA, Md.--(BUSINESS WIRE)--ProFunds, the premier provider of leveraged and inverse funds, announced today forward and reverse splits for the ProFunds and VP fund listed below. The forward and reverse splits will not change the total value of a shareholder's investment.

ProFunds Mutual Fund Reverse Splits

Five funds will reverse split at the following split ratios:

Fund Name	Investor Class Ticker	Service Class Ticker	Split Ratio
UltraShort Japan	UKPIX	UKPSX	1:10
UltraShort Small-Cap	UCPIX	UCPSX	1:10
Short Bitcoin Strategy1	BITIX		1:10
UltraShort Latin America	UFPIX	UFPSX	1:8
Short Small-Cap	SHPIX	SHPSX	1:2

All reverse splits will apply to shareholders of record as of the close of the markets on October 11, 2024. The funds will trade at the post-split prices on October 14, 2024. The ticker symbols and CUSIP numbers for the funds will not change.

Reverse splits increase the price per share of each fund with a proportionate decrease in the number of shares outstanding. For example, for a 1-for-10 reverse split, every 10 pre-split shares held by a shareholder will result in the receipt of one post-split share, which will be priced at 10 times the net NAV of a pre-split share. Thus, the total value of a shareholder's investment is not affected.

Illustration of a Reverse Split

The following table shows an example of the effect of a hypothetical 1-for-10 split:

	# of Shares Owned	Hypothetical NAV per Share	Value of Shares
Pre-Split	1,000	$6.00	$6,000.00
Post-Split	100	$60.00	$6,000.00

ProFunds Mutual Fund Forward Splits

Five funds will split at the following split ratios:

Fund	Investor Class Ticker	Service Class Ticker	Split Ratio
Communication Services UltraSector	WCPIX	WCPSX	4:1
Large-Cap Growth	LGPIX	LGPSX	4:1
Nasdaq-100	OTPIX	OTPSX	4:1
Semiconductor UltraSector	SMPIX	SMPSX	8:1
Technology UltraSector	TEPIX	TEPSX	4:1

ProFunds VP Fund Forward Split

The following VP fund will split at the following ratio:

Fund	Split Ratio	CUSIP
VP Semiconductor	4:1	74318A794

The forward splits will apply to shareholders of record as of the close of the markets on October 11, 2024. The funds will trade at the post-split price on October 14, 2024. The ticker symbol and CUSIP number for the funds will not change.

The forward splits will decrease the price per share of each fund with a proportionate increase in the number of shares outstanding. For example, for a 4-for-1 split, every pre-split share held by a shareholder will result in the receipt of four post-split shares, which will be priced at one-fourth 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 4-for-1 split:

	# of Shares Owned	Hypothetical NAV per Share	Value of Shares
Pre-Split	10	$100.00	$1,000.00
Post-Split	40	$25.00	$1,000.00

About ProFunds

Founded in 1997, ProFunds has over 25 years of experience managing a diverse lineup of some of the most innovative funds in the financial industry and offers trading flexibility to all shareholders. In addition to broad-market index funds, ProFunds offers leveraged and inverse funds that track a variety of assets, including broad-market and sector-based domestic and international equity, fixed income, crypto, currency, CDS and other benchmarks. Together with ProShares, which launched the first U.S. leveraged and inverse exchange traded funds (ETFs) in 2006, ProFunds and its affiliates manage more than $70 billion in assets for investors worldwide.

[1] Effective on or about September 27, 2024, Short Bitcoin Strategy ProFund's name will change to Short Bitcoin ProFund.

Geared (leveraged or inverse) ProFunds seek daily returns that correspond to a multiple (e.g., 2x or -2x) of the daily return of an index or other benchmark, as measured from one NAV calculation to the next, before fees and expenses. ProFunds' returns over periods other than one day generally will differ from the fund multiple times the index 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 consider monitoring their ProFunds holdings consistent with their strategies, as frequently as daily. For more on correlation, leverage and other risks, please read the prospectus.

Investing involves risk, including the possible loss of principal. ProFunds are generally non-diversified, and each entails certain risks, which may include 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. Short positions lose value as security prices increase. Narrowly focused investments typically exhibit higher volatility. Investments in smaller companies typically exhibit higher volatility. Smaller company stocks also may trade at greater spreads or lower trading volumes and may be less liquid than stocks of larger companies. Please see summary and full prospectus for a more complete description of risks. There is no guarantee any ProFunds fund will achieve its investment objective.

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.

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