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ProShares unveils first US short and leveraged ETFs tracking gold and silver

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Bethesda, Maryland-based ProFunds Group, which specialises in short and leveraged mutual and exchange-traded funds, is launching the first US ETFs to provide short and leveraged exposure t

Bethesda, Maryland-based ProFunds Group, which specialises in short and leveraged mutual and exchange-traded funds, is launching the first US ETFs to provide short and leveraged exposure to gold and silver. The four new ETFs join a line-up of four other commodities ProShares ETFs launched last week on NYSE Arca.

The new ETS are Ultra Gold, UltraShort Gold, Ultra Silver and UltraShort Silver. They follow last week’s launch of the Ultra DJ-AIG Commodity, UltraShort DJ-AIG Commodity, Ultra DJ-AIG Crude Oil UCD and UltraShort DJ-AIG Crude Oil ETFs, as well as four funds offering leveraged and short exposure to the euro and yen, Ultra Euro, UltraShort Euro, Ultra Yen and UltraShort Yen.

The gold and silver bullion prices are based on London fixings, while the commodity ETFs are based on the Dow Jones-AIG Commodity Index and the crude oil ETFs on a sub-index of the Dow Jones-AIG benchmark series.

Each ETF is a sub-fund of ProShares Trust II and will continuously offer and redeem its shares in blocks of 50,000 shares known as 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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