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Proshares launches two UBS ETRACS crude ETNs


ProShares has launched the first two UBS ETRACS – ProShares ETNs, which are linked to WTI crude oil.

They are the UBS ETRACS – ProShares Daily 3x Long Crude ETN (WTIU) and UBS ETRACS – ProShares Daily 3x Inverse Crude ETN (WTID).
The returns on WTIU and WTID are linked, respectively, to the daily compounded 3x leveraged and 3x inverse performance, of the Bloomberg WTI Crude Oil Subindex ERSM.
The ETNs are issued by UBS AG and listed on NYSE Arca.
“We are pleased to work with UBS, a leading provider of ETNs, to bring these new exchange traded products to market,” says Steve Cohen, managing director of ProFunds Distributors, the marketing agent for the ETNs. “These ETNs offer investors new tools to manage risk and potentially enhance returns.”

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