ProFunds Launches Short/Leveraged Exposure ETFs

The firm said that the ETFs were the first exchange traded funds in the United States to provide short exposure or to provide leveraged exposure to commodities or to the Euro and the Yen.

ProShares benchmarked to broad commodities and crude oil indexes and to the Euro and Yen will begin trading on the NYSE Arca today. ProShares benchmarked to gold and silver are expected to begin trading in the next few weeks.

According to a press release, each fund is a series of ProShares Trust II and shares of each will trade separately on the NYSE Arca. Each fund will continuously offer and redeem its shares in blocks of 50,000 shares called Creation Units, which Authorized Participants may purchase and redeem directly from the funds. ProShare Capital Management LLC serves as the Trust’s sponsor.

ProShare Capital Management is part of ProFunds Group, which includes the family of 64 other short and leveraged ProShares ETFs, as well as ProFunds, which offers more than 115 ProFunds mutual funds.