ETF provider ProShares launched its first leveraged thematic investing ETFs.
The ProShares Ultra Nasdaq Cybersecurity (UCYB) seeks investment results, before fees and expenses, that correspond to two times (2x) the daily performance of the Nasdaq CTA Cybersecurity Index. ProShares Ultra Nasdaq Cloud Computing (SKYU) seeks investment results, before fees and expenses, that correspond to two times (2x) the daily performance of the ISE CTA Cloud Computing Index.
“The growing need for remote computing, and our increased reliance on secure internet communications and connectivity—existing themes accelerated by the coronavirus pandemic—have expanded the already significant investment opportunities in the cybersecurity and cloud computing industries,” says ProShares CEO Michael L Sapir. “Our new ETFs will offer investors a way to gain leveraged exposure to these rapidly changing industries in a transparent ETF format.”
UCYB’s index provides access to companies classified as “cybersecurity” by the Consumer Technology Association (CTA) – companies focused primarily on the building, implementation and management of technologies to protect networks, computers and mobile devices from cyber threats. SKYU’s index provides access to companies classified as “cloud computing” by the CTA – firms providing Infrastructure-as-a-Service (servers, storage, and networks), Platform-as-a-Service (systems for the creation of online software) and Software-as-a-Service (software applications delivered over the internet) to their customers and end users. Both indexes are managed by Nasdaq.