ProShares ETFs Pass $2 Billion in Assets
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Bethesda, MD, December 5, 2006—ProFunds Group today announced that its ProShares family of exchange traded funds (ETFs) passed the $2 billion mark—less than six months 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 continued strong response to ProShares," said Michael Sapir, CEO of ProShare Advisors, part of ProFunds Group. "We’re very pleased with the levels of liquidity we’ve seen. Currently, ProShares regularly trade more than three million shares daily and have traded as many as six million shares in one day."
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 |
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| 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.
Media contact
Tucker Hewes, Hewes Communications, Inc., (212) 207-9451, tucker@hewescomm.com
Dec 5, 2006
¹ 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 6, 2006. Lipper defines an “indexed fund” as an open-end mutual fund (not an Exchange Traded Fund or 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.