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ProShares launches currency hedged Europe and Japan ETFs


ProShares has launched two currency hedged equity ETFs –  ProShares Hedged FTSE Europe ETF (HGEU) and ProShares Hedged FTSE Japan ETF (HGJP). Both are listed on NYSE Arca.

“Investors have poured billions of dollars into currency hedged ETFs to gain exposure to foreign equities while being hedged against local currency risk,” says Michael L Sapir, cofounder and CEO of ProShare Advisors LLC, the advisor to ProShares. “With this launch today, investors who desire the benefits of currency hedged ETFs now have the option of obtaining them at a substantially lower cost than similar ETFs in the market.”

Investors had more than USD47 billion in assets invested in currency hedged ETFs as of 31 March, 2015. The asset-weighted average expense ratio for currency hedged European equity ETFs was 0.56 per cent and for currency hedged Japanese ETFs was 0.47 per cent. Expense ratios for HGEU and HGJP are 0.27 per cent and 0.23 per cent, respectively.

"With the strong demand for products that include built-in hedges, we are pleased to work with ProShares to offer the first currency hedged versions of our popular Europe and Japan equity indexes for US-listed ETFs,” says Ron Bundy, CEO North America benchmarks for FTSE Russell.

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