ProShares Launches First Short and First Leveraged ETFs Tracking Gold or Silver
< Back to Press Releases
Bethesda, MD, December 3, 2008—ProFunds Group, the world's largest manager of short and leveraged funds,1 announced today that it is launching the first exchange traded funds in the United States to provide short or leveraged exposure to gold or silver. The four new ETFs will begin trading on the NYSE Arca today. They join a line-up of four other Commodities ProShares that launched last week.
| ProShares | Ticker Symbol | Index/Benchmark | Objective* |
|---|---|---|---|
| Ultra Gold | UGL | Gold Bullion price, London p.m. fix | 200% |
| UltraShort Gold | GLL | Gold Bullion price, London p.m. fix | -200% |
| Ultra Silver | AGQ | Silver Bullion price, London fix | 200% |
| UltraShort Silver | ZSL | Silver Bullion price, London fix | -200% |
| Ultra DJ-AIG Commodity | UCD | Dow Jones-AIG Commodity IndexSM | 200% |
| UltraShort DJ-AIG Commodity | CMD | Dow Jones-AIG Commodity IndexSM | -200% |
| Ultra DJ-AIG Crude Oil | UCO | Dow Jones-AIG Crude Oil Sub-IndexSM | 200% |
| UltraShort DJ-AIG Crude Oil | SCO | Dow Jones-AIG Crude Oil Sub-IndexSM | -200% |
*Before fees and expenses
Each fund is a series of ProShares Trust II and shares of each will trade on the NYSE Arca. Each fund will continuously offer and redeem its shares in blocks of 50,000 shares called Creation Units, which Authorized Participants may purchase and redeem directly from the funds. ProShare Capital Management LLC serves as the Trust’s sponsor.
ProShare Capital Management is part of ProFunds Group, which includes the family of 76 short and leveraged ProShares ETFs as well as ProFunds, which offers more than 115 ProFunds mutual funds. Since 1997, ProFunds has provided mutual fund investors with easier access to sophisticated investment strategies, with offerings that include funds that seek to magnify daily index performance and funds that seek to increase in value when markets decline. However, there is no guarantee that any of the mutual funds or ETFs will meet its investment objective.
A registration statement relating to ProShares Trust II has been filed with and declared effective by the Securities and Exchange Commission. This press release shall not constitute an offer to sell nor a solicitation of an offer to buy these securities, nor shall there be any offer of sale of these securities in any state or jurisdiction in which such offer, solicitation, purchase or sale would be unlawful under the securities laws of such state of jurisdiction. The offering of these securities will be made only by means of a prospectus. A copy of the final prospectus related to these securities may be obtained by visiting www.proshares.com or calling ProShares at 866-776-5125.
"ProFunds Group" includes ProFunds mutual funds and ProShares ETFs (ProShares Trust and ProShares Trust II). ProFunds Distributors, Inc., is distributor for ProFunds mutual funds. ProShares registered under the Investment Company Act of 1940 are distributed by SEI Investments Distribution Co., which is not affiliated with ProFunds Group or its affiliates. ProFund Advisors LLC serves as investment advisor to ProFunds mutual funds; ProShare Advisors LLC serves as investment advisor to ProShares Trust. ProShare Capital Management LLC serves as sponsor, commodity pool operator and commodity trading advisor for ProShares Trust II.
The information in this news release relates only to the funds listed and is solely for informational purposes. The information is not, and is not intended to be, a complete discussion of the material information an investor should know before investing in Commodity ProShares.
1 Source: Lipper, based on a worldwide analysis of all of the known providers of funds in these categories. The analysis covered ETFs, ETNs and mutual funds by the number of funds and assets (as of 6/30/2009).
2 Source: Bloomberg.