ProShares ETFs Pass $1 Billion in Assets in First 11 Weeks
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Bethesda, MD, September 8, 2006—ProFunds Group today announced that its ProShares family of exchange traded funds (ETFs) passed the $1 billion mark earlier this week—less than 11 weeks after its launch. ProShares offers the first and only ETFs designed to provide short and magnified exposure to well-known market indexes. All 12 ProShares ETFs trade on the American Stock Exchange® (Amex®).
"We're delighted with the enthusiastic response to ProShares," said Michael Sapir, CEO of ProShare Advisors, part of ProFunds Group. "We're very pleased to reach this milestone so quickly and also pleased with the levels of liquidity we've seen. Since July, ProShares has consistently traded more than a million shares daily, and has traded as many as three million shares in one day. That's proof that many investors welcome the easy access to short or magnified exposure they get built right into our ETFs." Short ProShares, the only ETFs designed to provide short exposure to market indexes and Ultra ProShares, the only ETFs designed to magnify daily index performance, launched on June 21st. Four UltraShort ProShares, the only ETFs that seek to provide magnified, short exposure launched July 13.
Names of ProShares, their objectives and ticker symbols:
| Fund Name | Daily Objective Before Fees and Expenses¹ | Ticker Symbol (NAV) | |||
|---|---|---|---|---|---|
| Short QQQ® ProShares | Inverse of the NASDAQ-100 Index® |
PSQ |
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| Short S&P500® ProShares | Inverse of the S&P 500® Index |
SH |
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| Short Dow30SM ProShares | Inverse of the Dow Jones Industrial AverageSM |
DOG |
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| Short MidCap400 ProShares | Inverse of the S&P MidCap 400 |
MYY |
|||
| Fund Name | Daily Objective Before Fees and Expenses¹ | Ticker Symbol (NAV) | |||
|---|---|---|---|---|---|
| Ultra QQQ ProShares | Double the NASDAQ-100 Index |
QLD |
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| Ultra S&P500 ProShares | Double the S&P 500 Index |
SSO |
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| Ultra Dow30 ProShares | Double the Dow Jones Industrial Average |
DDM |
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| Ultra MidCap400 ProShares | Double the S&P MidCap 400 |
MVV |
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| Fund Name | Daily Objective Before Fees and Expenses¹ | Ticker Symbol (NAV) | |||
|---|---|---|---|---|---|
| UltraShort QQQ® ProShares | Double the inverse of the NASDAQ-100 Index® |
QID |
|||
| UltraShort S&P500® ProShares | Double the inverse of the S&P 500® Index |
SDS |
|||
| UltraShort Dow30SM ProShares | Double the inverse of the Dow Jones Industrial AverageSM |
DXD |
|||
| UltraShort MidCap400 ProShares | Double the inverse of the S&P MidCap 400 |
MZZ |
|||
About ProFunds Group
In addition to ProShares, ProFunds Group includes ProFund Advisors LLC, which manages ProFunds, the nation's largest lineup of indexed mutual funds.² The ProFunds Group describes the portfolio managers common to ProFund Advisors LLC, advisor to ProFunds mutual funds and ProShare Advisors LLC, advisor to ProShares ETFs.
Investing involves risk, including the possible loss of principal. Please note that in addition to the normal risks associated with investing, ProShares entail certain risks, including, in all or some cases, aggressive investment technique, inverse and imperfect correlation, leverage, market price variance and short sale risks. These risks may pose risks different from, or greater than, those associated with a direct investment in the securities underlying the funds' benchmarks, can increase volatility, and may dramatically decrease performance. In addition, ProShares are not diversified investments. Please see the prospectus for a more complete description of these risks.
Carefully consider the investment objectives, risks, and charges and expenses of ProShares and ProFunds before investing. This and other information can be found in their prospectuses. Read the prospectus(es) carefully before investing. For a ProShares ETF prospectus, visit www.proshares.com and seek advice from your financial advisor or broker dealer representative. Financial professionals can also call 866-PRO-5125. For a ProFunds mutual funds prospectus, call 888-PRO-FNDS (individual investors) or 888-PRO-5717 (financial professionals) or visit www.profunds.com. Read the prospectus(es) carefully before investing.
Media contact:
Tucker Hewes, Hewes Communications, Inc., (212) 207-9451, tucker@hewescomm.com
2006-1720
Sep 8, 2006¹ Fees and expenses on ProShares may be higher than those of traditional ETFs that don't offer short or magnified exposure.
² Source: Lipper, October 12, 2005. Lipper defines "indexed fund" as an open-end mutual fund (not an ETF) that falls into one of the following subcategories: pure index, enhanced index or index-based. The majority of ProFunds are categorized by Lipper as enhanced index funds.