Income ETF health check
ProShares Russell 2000 High Income ETF
ITWO
ProShares · Monthly · $188M
Current price
$43.14
As of 2026-09-29 · USD
Canary status
No significant NAV erosion detected — distributions look sustainable at the current pace.
Updated every Monday and Thursday
YieldCanary Health Metrics
Yield comparison
Advertised Yield
6.00%
Headline Yield (TTM)
7.68%
True Income Yield
3.10%
The real number is typically lower once return of capital is stripped out.
Health metrics
- Death Clock
- 2.81 yrs
- YieldCanary ROC %
- 59.6%
Income and return
- After-Tax Monthly (25%)
- $XX.XXUnlock free →
- Last Distribution
- $0.2348
- 1Y Price Return
- +10.33%
About True Income Yield
About True Income Yield: This is a YieldCanary proprietary sustainability indicator, not a standard accounting measure of economic gain. It strips return of capital from the headline yield to show only what the fund generated from real investment activity. Return of capital reduces your cost basis and the full economic gain is only realized when you sell your shares. YieldCanary calculates ROC from performance data, not from the 19a-1 notices that fund companies publish monthly. Our estimates can differ from official issuer reports and can differ significantly from your year-end 1099 tax forms. We are actively working on incorporating 19a-1 data to make these figures more precise. For confirmed ROC figures always check the fund's official 19a-1 notice on the issuer's website or your year-end 1099.
True Income Yield and Death Clock are YieldCanary proprietary metrics. Not financial advice. Data updates every Monday and Thursday.
Price and Distribution History
Data last updated: Sep 28, 2026. Updates every Monday and Thursday.
Sustainability analysis
Health Score Breakdown
ITWO is currently Healthy on YieldCanary. ROC is within sustainable range, the NAV has held up over the trailing 12 months, and distributions have been stable. No significant erosion risk is detected at the current pace.
See the full health score breakdown. Start your free 7-day trial.
Start 7 Day Free TrialFund questions
Frequently Asked Questions — ITWO
Is ITWO a good income ETF?
Based on YieldCanary's health framework, ITWO is currently Healthy. No significant NAV erosion is detected at the current pace and the fund is passing all sustainability checks. The distributions appear to be generated from real investment activity rather than quiet erosion of the fund's value. This is not financial advice — always do your own research and consult a qualified financial professional before making investment decisions.
YieldCanary calculates ROC from performance data, not 19a-1 filings. Not financial advice.
What does ITWO pay per month?
Based on last month's actual distribution of $0.2348 per share, $10,000 invested in ITWO at the current price of $43.14 generates approximately 231 shares. That's $54.24 gross per month before taxes. Your after-tax income depends on your personal tax rate and account type. Set your rate inside YieldCanary to see your exact after-tax monthly income and connect your portfolio to see what all of your holdings generate together. Distributions change month to month based on options premiums and market conditions. Past distributions are not a guarantee of future payments.
Calculate your after-tax income on ITWO free →YieldCanary calculates ROC from performance data, not 19a-1 filings. Not financial advice.
What is ITWO's True Income Yield?
YieldCanary's True Income Yield for ITWO is currently 3.10%. This is a distribution sustainability indicator — it strips the estimated return of capital portion from the headline TTM yield to show only what the fund generated from real investment activity. It is not an accounting measure of economic gain. Return of capital reduces your cost basis and full economic gain is only realized when you sell. ITWO's current ROC estimate is 59.6%. The full methodology breakdown is available inside YieldCanary. For confirmed ROC figures check the fund's official 19a-1 notice or your year-end 1099.
See the full health breakdown on ITWO free →YieldCanary calculates ROC from performance data, not 19a-1 filings. Not financial advice.
What is ITWO's Death Clock?
ITWO's Death Clock is currently 2.81 years. This estimates the number of years before 50% of the fund's NAV erodes at the current pace, assuming all things stay constant. It is a sustainability warning signal. The pace can improve or worsen as market conditions and distribution behavior change. Check back every Monday and Thursday when the data refreshes.
YieldCanary calculates ROC from performance data, not 19a-1 filings. Not financial advice.
Is ITWO's return of capital good or bad?
ITWO's current ROC estimate is 59.6%. A high ROC without NAV stability can indicate the fund is returning your own principal as income while the underlying value declines. The Death Clock and Canary Status reflect this in ITWO's current health rating. Note: YieldCanary calculates ROC from performance data, not 19a-1 filings.
YieldCanary calculates ROC from performance data, not 19a-1 filings. Not financial advice.
How does ITWO compare to similar funds?
On YieldCanary, ITWO is currently Healthy with a 3.10% True Income Yield and a Death Clock of 2.81 years. It pays Monthly distributions and has a 1-year price return of 10.33%. Similar funds from ProShares tracked on YieldCanary: ProShares Bitcoin ETF (BITO) — currently Severe Risk; ProShares - S&P 500 High Income ETF (ISPY) — currently Healthy; ProShares - Nasdaq-100 High Income ETF (IQQQ) — currently Healthy Full side-by-side comparison including True Income Yield, Death Clock, ROC%, and after-tax income across all similar funds is available inside YieldCanary.
Compare ITWO to similar funds free →YieldCanary calculates ROC from performance data, not 19a-1 filings. Not financial advice.
How often does ITWO pay distributions?
ITWO is a Monthly paying ETF. Distributions are paid once per month, which aligns well with monthly bills and expenses. Monthly payers are the most popular frequency among income investors for this reason. The most recent distribution was $0.2348 per share. To see exact upcoming ex-dividend and payment dates for ITWO in your portfolio, connect your holdings inside YieldCanary and check the Distribution Calendar.
YieldCanary calculates ROC from performance data, not 19a-1 filings. Not financial advice.
What is ITWO's AUM and why does it matter?
ITWO currently has $188M in assets under management. ITWO is a mid-sized fund with reasonable liquidity. Worth monitoring AUM trends over time to ensure the fund continues attracting assets. AUM alone does not determine whether a fund is healthy. Check the Canary Status and Death Clock above for the full sustainability picture.
YieldCanary calculates ROC from performance data, not 19a-1 filings. Not financial advice.
Is ITWO available in a Roth IRA?
Yes — ITWO can be held in a Roth IRA like any standard ETF, assuming your brokerage offers it. For income ETFs with high return of capital, a Roth IRA can be a particularly advantageous account type. ROC distributions reduce your cost basis in a taxable account, creating a deferred tax liability that grows over time. In a Roth IRA that tax treatment is irrelevant as all distributions are tax-free regardless of their character. This is not tax advice. Consult a tax professional about your specific situation and account type before making investment decisions.
YieldCanary calculates ROC from performance data, not 19a-1 filings. Not financial advice.
About the fund
Strategy & Objective
ProShares · Monthly
ITWO combines long positions in the Russell 2000 Index with short positions in daily call options. The objective is to provide monthly distributions derived from option premiums and dividends, though some payments may be classified as a return of capital. The index employs a buy-write (or covered call) strategy, generating additional income from selling call options while maintaining exposure to small-cap US stocks. Unlike traditional call option strategies, this index uses short-dated, out-of-the-money call options, which are rebalanced daily to capture short-term market movements. Instead of directly writing options, the fund gains its short exposure through swap agreements and futures contracts, replicating returns from the covered call strategy without direct option transactions. The portfolio is constructed using a mathematical approach that optimizes the type, quantity, and mix of positions to produce returns in line with the index.
At a glance
YieldCanary Health Summary
ProShares Russell 2000 High Income ETF (ITWO) is a Monthly-paying income ETF issued by ProShares with $188M in assets under management. The fund has an advertised yield of 6.00% and a trailing 12-month headline yield of 7.68%. ITWO is currently Healthy on YieldCanary with a True Income Yield of 3.10% and a Death Clock of 2.81 years. The fund's current ROC estimate is 59.6% which warrants monitoring alongside the Canary Status. The most recent distribution was $0.2348 per share. The fund's price has returned +10.33% over the trailing 12 months.
Advertisement
Know If Your Income ETFs Are Actually Sustainable
YieldCanary health checks 320+ covered call and options income ETFs — showing you what the advertised yield doesn't. See what each fund really generates after taxes, whether the NAV is eroding, and how long the income can last at the current pace.
- See what each fund actually pays after taxes at your personal tax rate
- Know whether your funds are healthy or quietly returning your own money as income
- Connect your portfolio and see your complete income picture in one place
No commitment required. Cancel anytime.
Want to learn more about how to evaluate income ETFs? Visit the YieldCanary Education Hub →