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Markets

ProShares Stuffs More Funds In Pipeline

ProShares, the Bethesda, Md.-based ETF company that dominates the world of inverse and leveraged exchange-traded funds, filed to offer 17 different funds, both long and short, focused on a range of asset classes and sectors, including gold miners, U.S. government debt, retail and Canada.

The offering, which includes bets on both sides of a given investment, comes at a time that volatility has returned to financial markets. That's largely because of concern that fiscal problems in Greece and elsewhere in the eurozone could spread and compromise incipient signs of recovery in the U.S. following the worst downturn for the world's biggest economy since the 1930s.

The new ETFs will join a ProShares lineup of about 100 inverse and leveraged ETFs, the largest one of which is the ProShares UltraShort 20+ Year Treasury ETF (NYSEArca:TBT). That's the single largest leveraged and inverse fund, with $4.9 billion in assets as of June 9. Leveraged and inverse funds are designed for more hands-on, risk-tolerant investors, as long-term returns can vary widely from daily objectives.

The new ETFs, like all ProShares products, will cost investors 0.95 percent a year. The filing, dated June 9, didn't say what the funds' trading symbols would be, but noted they would trade on the New York Stock Exchange.

The proposed gold miner funds are:

  • The Ultra Gold Miners fund, which seeks to double the daily return of the NYSE Arca Gold Miners Index;
  • The Short Gold Miners ETF, which seeks the inverse of the NYSE Arca Gold Miners Index's daily returns;
  • The UltraShort Gold Miners ETF, which is designed to double the inverse of the daily returns of the NYSE Arca Gold Miners Index.

The planned retail ETFs are:

  • The Ultra S&P Retail ETF, which seeks to double the daily return of the S&P Retail Select Industry Index;
  • The Short S&P Retail ETF, which seeks the inverse of the NYSE S&P Retail Select Industry Index's daily returns;
  • The Ultra Short S&P Retail ETF, which is designed to double the inverse of the daily returns of the S&P Retail Select Industry Index.

The straight Treasury funds are:

  • The Ultra 3-7 Year Treasury ETF, which is designed to double the daily returns of its index, which the filing didn't specify;
  • The UltraPro 3-7 Year Treasury ETF, which is designed to triple its index's daily returns;
  • The Short 3-7 Year Treasury ETF, which is built to produce the inverse of the index's daily returns;
  • The UltraShort 3-7 Year Treasury, designed to double the inverse of the index's daily returns;
  • The UltraPro Short 3-7 Year Treasury, which seeks to triple the inverse of the index's daily returns.

The funds focused on Treasury inflation-protected securities, or TIPs, are:

  • The Ultra Tips ETF, which is designed to double the daily returns of its index, which the filing didn't specify;
  • The Short TIPs, which is built to produce the inverse of the index's daily returns;
  • The UltraShort TIPs, designed to double the inverse of the index's daily returns.

Lastly, the funds targeting Canadian companies are:

  • The Ultra MSCI Canada, which is designed to double daily returns of the MSCI Canada Index;
  • The Short MSCI Canada, which seeks the inverse of the MSCI Canada Index's returns;
  • The UltraShort MSCI Canada, which is built to double the inverse of the MSCI Canada Index's returns.

Don't forget to check IndexUniverse.com's ETF Data section.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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