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ProShares launches ETFs with triple exposure to S&P 500

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ProFunds is launching the first exchange-traded funds designed to seek triple exposure to the S&P 500 on a daily basis.

ProFunds is launching the first exchange-traded funds designed to seek triple exposure to the S&P 500 on a daily basis.

ProShares UltraPro S&P500 seeks 300 per cent of the performance of the S&P 500 for a single day, while ProShares UltraPro Short S&P500 seeks 300 per cent of the inverse performance of the S&P 500 for a single day, before fees and expenses.

The new ETFs will be listed on NYSE Arca.

‘The S&P 500 has the largest following in the ETP industry with nearly USD90bn of assets benchmarked to it,’ says Michael L. Sapir, ProFunds group chairman and chief executive. ‘As the leader in short and leveraged ETFs, we are committed to giving investors more choices to manage risk and pursue returns.’

ProShares now offers five ETFs benchmarked to the S&P 500.

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