ProShares Launches Daily 3x and -3x ETFs on NASDAQ-100®, Dow Jones Industrial Average®, S&P MidCap 400TM and Russell 2000
< Back to Press Releases
Now Only Provider Offering Daily 3x and -3x ETFs on Five Most Traded Broad U.S. Market Indexes
Bethesda, MD, February 11, 2010 — ProFunds Group, the world's largest manager of leveraged and inverse funds1, announced today that it is launching eight new ProShares ETFs. A pair of ETFs, one with a daily 3x objective and one with a daily -3x objective (before fees and expenses), is being launched on each of the following indexes: the NASDAQ-100®, Dow Jones Industrial Average®, S&P MidCap 400TM and Russell 2000®. Three of the pairs will list today on NYSE Arca and one on The NASDAQ Stock Market®.
With today’s launch, ProShares becomes the first and only ETF provider offering ETFs with daily 3x and -3x objectives on each of the NASDAQ-100, the Dow Jones Industrial Average, the S&P MidCap 400 and the S&P 500. ProShares previously launched ETFs offering daily 3x and 3x exposure to the S&P 500 in 2009. ProShares offerings now include 3x and -3x ETFs for each of the five most traded broad U.S. indexes.2
"Many savvy investors believe that taking advantage of tactical allocation opportunities will be the key to successful investing in the near term. These new ETFs provide knowledgeable investors with additional tools to act on short-term moves in popular U.S. indexes," said Michael L. Sapir, Chairman and CEO of ProShare Advisors LLC, ProShares' investment advisor.
|New +3x UltraPro ProShares|
|UltraPro QQQ||TQQQ||NASDAQ-100 Index||+300% Daily||NASDAQ|
|UltraPro Dow30||UDOW||Dow Jones Industrial Average||+300% Daily||NYSE Arca|
|UltraPro MidCap400||UMDD||S&P MidCap 400 Index||+300% Daily||NYSE Arca|
|UltraPro Russell2000||URTY||Russell 2000 Index||+300% Daily||NYSE Arca|
|New -3x UltraPro ProShares|
|UltraPro Short QQQ||SQQQ||NASDAQ-100 Index||-300% Daily||NASDAQ|
|UltraPro Short Dow30||SDOW||Dow Jones Industrial Average||-300% Daily||NYSE Arca|
|UltraPro Short MidCap400||SMDD||S&P MidCap 400 Index||-300% Daily||NYSE Arca|
|UltraPro Short Russell2000||SRTY||Russell 2000 Index||-300% Daily||NYSE Arca|
|Existing +3x and -3x UltraPro ProShares|
|UltraPro S&P500||UPRO||S&P 500 Index||+300% Daily||NYSE Arca|
|UltraPro Short S&P500||SPXU||S&P 500 Index||-300% Daily||NYSE Arca|
*Before fees and expenses
About ProFunds Group
ProShares is part of ProFunds Group, the largest manager of leveraged and inverse funds and ETFs. ProShares introduced the first inverse and leveraged ETFs in the U.S. in 2006. Since 1997, ProFunds mutual funds have provided investors with access to sophisticated investment strategies. In addition, ProFunds Group subadvises the Canada-based Horizons BetaPro ETFs.
Tucker Hewes, Hewes Communications, Inc., (212) 207-9451, email@example.com
Most ProShares ETFs and many ProFunds employ leveraged investment techniques that magnify gains and losses and result in greater volatility in value. Each Short or Ultra 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 (before fees and expenses). 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.
# # #Feb 11, 2010
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.