ProFunds Group is launching the first exchange-traded funds built to provide short and leveraged exposure to the Russell 3000 Index.
ProFunds Group is launching the first exchange-traded funds built to provide short and leveraged exposure to the Russell 3000 Index.
ProShares Ultra Russell3000 is built to produce 200 per cent of the performance of the Russell 3000 Index for a single day, while ProShares UltraShort Russell3000 is built to produce 200 per cent of the inverse performance of the Russell 3000 Index for a single day.
The Russell 3000 Index measures the stock performance of the largest 3000 US companies, representing approximately 98 per cent of the investable US equity market.
The new ETFs are listed on NYSE Arca.
‘These ETFs provide investors, for the first time, with leveraged and short exposure to the Russell 3000,’ says Michael L. Sapir, ProFunds group chairman and chief executive. ‘With the addition of these broad market funds, ProShares now has seventeen leveraged and short ETFs linked to Russell indexes.’
