ProShares Launches First and Only Short and Leveraged ETFs for the Russell 3000®
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Bethesda, MD, July 2, 2009—ProFunds Group, the world's largest manager of short and leveraged funds1, announced today that it is launching the first ETFs built to provide short and leveraged exposure to the Russell 3000® Index. ProShares Ultra Russell3000 (UWC) is built to produce 200% of the performance of the Russell 3000 Index for a single day, while ProShares UltraShort Russell3000 (TWQ) is built to produce 200% of the inverse performance of the Russell 3000 Index for a single day.
The Russell 3000 Index measures the stock performance of the largest 3000 U.S. companies, representing approximately 98% of the investable U.S. equity market. The new ETFs will be listed on NYSE Arca today.
"These ETFs provide investors, for the first time, with leveraged and short exposure to the Russell 3000," said Michael L. Sapir, ProFunds Group Chairman and CEO. "With the addition of these broad market funds, ProShares now has seventeen leveraged and short ETFs linked to Russell indexes."
| ProShares | Ticker Symbol | Index/Benchmark | Daily Objective* |
|---|---|---|---|
| New Russell 3000 ProShares | |||
| Ultra Russell3000 | UWC | Russell 3000® Index | 200% Daily |
| UltraShort Russell3000 | TWQ | Russell 3000® Index | -200% Daily |
| Existing Short Russell ProShares | |||
| Short Russell2000 | RWM | Russell 2000® Index | -100% Daily |
| UltraShort Russell1000 Value | SJF | Russell 1000® Value Index | -200% Daily |
| UltraShort Russell1000 Growth | SFK | Russell 1000® Growth Index | -200% Daily |
| UltraShort Russell MidCap Value | SJL | Russell Midcap® Value Index | -200% Daily |
| UltraShort Russell MidCap Growth | SDK | Russell Midcap® Growth Index | -200% Daily |
| UltraShort Russell2000 | TWM | Russell 2000® Index | -200% Daily |
| UltraShort Russell2000 Value | SJH | Russell 2000® Value Index | -200% Daily |
| UltraShort Russell2000 Growth | SKK | Russell 2000® Growth Index | -200% Daily |
| Existing Leveraged Russell ProShares | |||
| Ultra Russell1000 Value | UVG | Russell 1000® Value Index | 200% Daily |
| Ultra Russell1000 Growth | UKF | Russell 1000® Growth Index | 200% Daily |
| Ultra Russell MidCap Value | UVU | Russell Midcap® Value Index | 200% Daily |
| Ultra Russell MidCap Growth | UKW | Russell Midcap® Growth Index | 200% Daily |
| Ultra Russell2000 | UWM | Russell 2000® Index | 200% Daily |
| Ultra Russell2000 Value | UVT | Russell 2000® Value Index | 200% Daily |
| Ultra Russell2000 Growth | UKK | Russell 2000® Growth Index | 200% Daily |
*Before fees and expenses
About ProFunds Group
ProFunds Group includes 88 ProShares short and leveraged ETFs, and 115 ProFunds mutual funds. ProShares, which introduced the first short and leveraged ETFs in 2006, continues to be a leader in launching innovative new products—for two years in a row, ProShares has led the industry in attracting assets to newly launched ETFs2 and now is the fourth largest manager of ETFs in the nation3. Since 1997, ProFunds mutual funds have provided investors with 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. The group also manages the Canada-based Horizons BetaPro ETFs.
All ProShares ETFs and many ProFunds employ leveraged investment techniques that magnify gains and losses and result in greater volatility in value. Each ProShares ETF and leveraged or inverse ProFund seeks a return that is a multiple or inverse multiple (e.g., -200%) of the return of an index or other benchmark (target) for a single day. Due to the compounding of daily returns, ProShares' and leveraged and inverse ProFunds’ returns over periods other than one day will likely differ in amount and possibly direction from the target return for the same period. Investors should monitor holdings consistent with their strategies, as frequently as daily. For more on correlation, leverage and other risks, please read the ProShares or ProFunds prospectus.
Media contact:
Tucker Hewes, Hewes Communications, Inc., (212) 207-9451, tucker@hewescomm.com
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1 Source: Lipper, based on a worldwide analysis of all of the known providers of publicly traded funds in these categories. The analysis covered ETFs, ETNs and mutual funds by the number of funds and assets (as of 6/30/2008).
2 Source: Citigroup ETF Flow Report, based on an analysis of ETPs introduced in 2007 and 2008.
3 Source: Bloomberg, based on assets for 5/29/2009.