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

Latest news & opinion

Retirement planning for women

Longer lifespans and lower savings require creative income strategies.

Sean Spicer resigns as press secretary after Anthony Scaramucci is appointed communications director

Scaramucci is known as an ardent foe of the DOL fiduciary rule, having said during the campaign that Trump would repeal it .

Redoing the math on a 4% retirement withdrawal rate

Given the current interest-rate environment and other factors, advisers disagree about whether the number is too conservative or not conservative enough.

House panel passes bill to replace DOL fiduciary rule with one requiring disclosure of conflicts

Measure likely to continue in partisan advance in House, but could stall in Senate.

X

Subscribe and Save 60%

Premium Access
Print + Digital

Learn more
Subscribe to Print