A dozen ProFunds ETFs make their debut

Nov 25, 2008 @ 3:24 pm

By Erin Yerke

ProFunds Group today announced 12 exchange traded funds to be listed on the NYSE Arca, a division of NYSE Euronext of New York.

They are the first ETFs in the United States to provide short exposure or leveraged exposure to commodities or to the euro and the yen, according to a statement from ProFunds.

The funds are independent of the series of the ProShares Trust II ETFs that trade separately.

Only eight funds are available: Ultra DJ-AIG Commodity, UltraShort DJ-AIG Commodity, Ultra DJ-AIG Crude Oil, UltraShort DJ-AIG Crude Oil, Ultra Euro, UltraShort Euro, Ultra Yen and UltraShort Yen.

The other four funds, benchmarked to gold and silver, are expected to start trading in the coming weeks.

These are the Ultra Gold, UltraShort Gold, Ultra Silver, and UltraShort Silver.

“Ultra” funds will seek daily investment results corresponding to 200% the daily performance of its corresponding benchmark.

“UltraShort” funds will seek daily investment results corresponding to 200% of the inverse of daily performance of its corresponding benchmark.

The ProShares Trust is sponsored by ProShare Capital Management LLC, a part of Bethesda, Md.-based ProFunds Group.

ProFunds has 64 other short and leveraged ProShares ETFs.

0
Comments

What do you think?

View comments

Recommended for you

Sponsored financial news

Featured video

Events

How 401(k) advisers can use 'centers of influence' to grow their business

Leveraging relationships with accounting, benefits, and property and casualty insurance firms can help deliver new business leads for retirement plan advisers.

Latest news & opinion

Things are looking up: IBDs soared in 2017

With revenue up, interest rates rising and regulation easing, IBDs are soaring.

SEC advice rule may give RIAs leg up over broker-dealers

Experts say advisers will be able to point to their role as fiduciaries as a differentiator in the advice market.

Brokers accept proposed SEC rule on who can call themselves an adviser

Some say the rule will clear up investor confusion, but others say the SEC didn't go far enough.

SEC advice rule: Here's what you need to know

We sifted through the nearly 1,000-page proposal and picked out some of the most important points.

Cadaret Grant acquired by private-equity-backed Atria

75-year-old owner Arthur Grant positions the IBD for the 'next 33 years.'

X

Hi! Glad you're here and we hope you like all the great work we do here at InvestmentNews. But what we do is expensive and is funded in part by our sponsors. So won't you show our sponsors a little love by whitelisting investmentnews.com? It'll help us continue to serve you.

Yes, show me how to whitelist investmentnews.com

Ad blocker detected. Please whitelist us or give premium a try.

X

Subscribe and Save 60%

Premium Access
Print + Digital

Learn more
Subscribe to Print