ProShares Launches First ETFs to Offer Short or Magnified Exposure to Sector Indexes
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New York, NY, February 1, 2007—ProShares, together with The American Stock Exchange® (Amex®), today announced the addition of 22 exchange traded funds (ETFs) to the ProShares lineup. The new ETFs, benchmarked to 11 Dow Jones U.S. Sector Indexes, are the first designed to provide short or magnified exposure to specific market sectors.
With the addition of the new sector funds, ProShares now offers a family of 40 ETFs—the first and only ETFs that provide built-in short or magnified exposure to well-known indexes. Eleven new UltraShort Sector ProShares are designed to provide double the inverse of the daily performance of the indexes underlying the funds' benchmark, while the Ultra Sector ProShares are designed to provide double the daily performance of their applicable indexes (before fees and expenses).
"ProShares is growing rapidly—both in the number of ETFs we offer and in assets. ProShares has attracted more than $2.5 billion since we launched our first eight ETFs last June," said Michael Sapir, CEO of ProShare Advisors LLC. "We have clearly filled a need for investors who want an easier way to execute sophisticated strategies for managing risk or enhancing return. Like the other ProShares, the new Sector ProShares make getting short or magnified exposure as simple as buying an ETF. And, unlike a margin account, you can't lose more than you invest."
"ProShares' growth in assets reflects strong investor interest in this unique family of ETFs," said Cliff Weber, senior vice president of the ETF Marketplace. "The American Stock Exchange is pleased to work with ProShares in launching these 22 additional new and innovative ETFs."
"ProShares has successfully taken ETFs to the next level using innovative new ways to approach this market. Through the comprehensive family of Dow Jones sector indexes, ProShares provides individual and professional investors with exposure to specific areas of the economy," said Michael A. Petronella, president, Dow Jones Indexes.
| Names of ProShares | Dow Jones U.S. Sector Index | Daily Objective* | Ticker Symbol (NAV) | |||
|---|---|---|---|---|---|---|
| Ultra Basic Materials | Basic Materials |
Double
|
UYM
|
|||
| Ultra Consumer Goods | Consumer Goods |
Double
|
UGE
|
|||
| Ultra Consumer Services | Consumer Services |
Double
|
UCC
|
|||
| Ultra Financials | Financials |
Double
|
UYG
|
|||
| Ultra Health Care | Health Care |
Double
|
RXL
|
|||
| Ultra Industrials | Industrials |
Double
|
UXI
|
|||
| Ultra Oil & Gas | Oil & Gas |
Double
|
DIG
|
|||
| Ultra Real Estate | Real Estate |
Double
|
URE
|
|||
| Ultra Semiconductors | Semiconductors |
Double
|
USD
|
|||
| Ultra Technology | Technology |
Double
|
ROM
|
|||
| Ultra Utilities | Utilities |
Double
|
UPW
|
|||
| Names of ProShares | Dow Jones U.S. Sector Index | Daily Objective* | Ticker Symbol (NAV) | |||
|---|---|---|---|---|---|---|
| UltraShort Basic Materials | Basic Materials |
Double the inverse
|
SMN
|
|||
| UltraShort Consumer Goods | Consumer Goods |
Double the inverse
|
SZK
|
|||
| UltraShort Consumer Services | Consumer Services |
Double the inverse
|
SCC
|
|||
| UltraShort Financials | Financials |
Double the inverse
|
SKF
|
|||
| UltraShort Health Care | Health Care |
Double the inverse
|
RXD
|
|||
| UltraShort Industrials | Industrials |
Double the inverse
|
SIJ
|
|||
| UltraShort Oil & Gas | Oil & Gas |
Double the inverse
|
DUG
|
|||
| UltraShort Real Estate | Real Estate |
Double the inverse
|
SRS
|
|||
| UltraShort Semiconductors | Semiconductors |
Double the inverse
|
SSG
|
|||
| UltraShort Technology | Technology |
Double the inverse
|
REW
|
|||
| UltraShort Utilities | Utilities |
Double the inverse
|
SDP
|
|||
About ProShares and ProFunds Group
ProShares, part of ProFunds Group, are managed by a team headed by Chief Investment Officer William Seale. In addition to ProShares ETFs, ProFunds Group manages ProFunds mutual funds, the nation's largest lineup of indexed mutual funds.¹ Since 1997, ProFunds has provided mutual fund investors with access to innovative mutual fund strategies, including funds that seek to magnify daily index performance and funds that seek to increase in value when markets decline. ProFunds Group describes the portfolio managers common to ProFund Advisors LLC, advisor to ProFunds mutual funds, and ProShares Advisors LLC, advisor to ProShares ETFs.
JP Morgan Worldwide Securities Services provides a full range of fund administration services to ProShares.
About The American Stock Exchange®
The American Stock Exchange® (Amex®) offers trading across a full range of equities, options and exchange traded funds (ETFs), including structured products and HOLDRSSM. In addition to its role as a national equities market, the Amex is the pioneer of the ETF, responsible for bringing the first domestic product to market in 1993. Leading the industry in ETF listings, the Amex lists 236 ETFs to date. The Amex is also one of the largest options exchanges in the U.S., trading options on broad-based and sector indexes as well as domestic and foreign stocks. For more information, please visit www.amex.com.
About Dow Jones Indexes and Dow Jones & Company
Dow Jones Indexes is part of Dow Jones & Company, which publishes the world's most vital business and financial news and information. A full-service index provider, Dow Jones Indexes develops, maintains and licenses indexes for use as benchmarks and as the basis of investment products. Best known for the Dow Jones Industrial Average, Dow Jones Indexes also is co-owner of the Dow Jones STOXX indexes, the world's leading pan-European indexes, and together with Wilshire Associates, provides the Dow Jones Wilshire Global Index family, which is anchored by the Dow Jones Wilshire 5000 and covers more than 12,000 securities in 59 markets. Dow Jones Indexes also offers the Dow Jones U.S. Sector Indexes, a comprehensive family covering 10 Industries, 18 Supersectors, 39 Sectors and 104 Subsectors defined by the Industry Classification Benchmark (ICB). Beyond equity indexes, Dow Jones Indexes maintains a number of alternative indexes, including measures of the hedge fund and commodity markets. Dow Jones indexes are maintained according to clear, unbiased and systematic methodologies that are fully integrated within index families. www.djindexes.com
Dow Jones & Company (NYSE: DJ; dowjones.com) is a leading provider of global business news and information services. Its Consumer Media Group publishes The Wall Street Journal, Barron's, MarketWatch and the Far Eastern Economic Review. Its Enterprise Media Group includes Dow Jones Newswires, Factiva, Dow Jones Licensing Services, Dow Jones Indexes and Dow Jones Financial Information Services. Its Local Media Group operates community-based information franchises. Dow Jones provides news content to CNBC and radio stations in the U.S.
Dow Jones Indexes have been licensed for use by ProShares. ProShares have not been passed on by these entities or their affiliates as to their legality or suitability. ProShares are not sponsored, endorsed, sold or promoted by these entities or their affiliates, and they make no representation regarding the advisability of investing in these products. These entities and their affiliates make no warranties and bear no liability with respect to ProShares.
Media contacts
ProShares: Tucker Hewes, Hewes Communications, Inc., (212) 207-9451, tucker@hewescomm.com
American Stock Exchange: Mary Chung, 212-306-1641, mary.chung@amex.com
Feb 1, 2007
ยน Source: Lipper, October 6, 2006. 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.