The folks at an ETF shop (and its mutual fund sibling) near Washington, D.C. are celebrating a big milestone: their entrance into 12-figure territory.

Last week, Michael Sapir, co-founder and CEO of ProShares and ProFunds [profile], revealed that the pair of firms have surpassed more than $100 billion in AUM. They lay claim to being biggest LETF (leveraged and inverse ETF) provider in the world.

Louis Mayberg and Sapir, alumni of nearby Rydex, launched ProFunds in 1997. Then in 2006, the ProFunds team launched their ProShares affiliate to get into the ETF space.

Sapir calls the recent AUM milestone "a meaningful moment for ProShares and a testament to the millions of customers who have supported [its] growth."

"Our success stems from listening to investors and developing strategies that help them navigate changing markets," Sapir states. "We're energized by this milestone and are committed to building on it with the same customer focus and long-term view that have defined the company since its founding." 

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