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ProShares launches first short and leveraged ETFs tracking commodities, euro and yen

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Bethesda, Maryland-based ProFunds Group, a specialist manager of short and leveraged funds, is launching what it says are the first exchange-traded funds in the US to provide short exposur

Bethesda, Maryland-based ProFunds Group, a specialist manager of short and leveraged funds, is launching what it says are the first exchange-traded funds in the US to provide short exposure or leveraged exposure to commodities, to the euro and the yen.

ProShares funds offering 200 per cent long or inverse exposure to Dow-Jones AIG broad commodities and crude oil indices and to the euro and yen have begun trading on NYSE Arca, and ETFs benchmarked to gold and silver are scheduled to begin trading within the next few weeks.

The new ETFs are the Ultra DJ-AIG Commodity, UltraShort DJ-AIG Commodity, Ultra DJ-AIG Crude Oil UCD, UltraShort DJ-AIG Crude Oil, Ultra Euro, UltraShort Euro, Ultra Yen and UltraShort Yen, to be followed by the Ultra Gold, UltraShort Gold, Ultra Silver and UltraShort Silver funds.

Each fund is a sub-fund of ProShares Trust II and shares of each will trade separately on NYSE Arca. Each fund will continuously offer and redeem its shares in blocks of 50,000 shares called creation units, which authorised participants may purchase and redeem directly from the funds. ProShare Capital Management is the trust’s sponsor.

ProShare Capital Management is part of ProFunds Group, established in 1997 which includes a range of 64 other short and leveraged ProShares ETFs, as well as more than 115 ProFunds mutual funds.

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