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ProFunds Group, the largest provider of short and magnified exposure indexed funds(1), announced today that the ProShares UltraShort FTSE/Xinhua China 25 ETF FXP had one of the largest first-day trading volumes for any ETF(2). The first ETF designed to go up when the Chinese market falls, ProShares' UltraShort FTSE/Xinhua China 25 had trading volume in excess of 525,000 shares yesterday, its first day of trading on the American Stock Exchange(R) (Amex(R)).
UltraShort FTSE/Xinhua China 25 ProShares seeks daily investment results, before fees and expenses, equal to two times the inverse of the daily return of the FTSE/Xinhua China 25 Index. The ETF provides investors with a convenient way to hedge gains or to seek profit from a downturn in the Chinese market.
Investors seeking to hedge gains should understand that they may need to make adjustments to their holdings to maintain a specific level of short exposure over time. Also, the funds have fees, expenses and tax consequences of their own. The UltraShort ProShares are designed to deliver twice the inverse of daily performance of the indexes. For instance, if the FTSE/Xinhua China 25 declined by 1% in a day, the UltraShort FTSE/Xinhua China 25 ProShares should appreciate by 2%, and if the benchmark rose by 1%, the ETF should decline by 2%.
About ProShares and ProFunds Group
Launched in June 2006, ProShares were the first ETFs to provide built-in short or magnified exposure to a variety of well-known indexes. ProShares had the most successful first year of any ETF company in history.(3) ProShares assets under management recently broke through $9 billion. The launch yesterday of the UltraShort FTSE/Xinhua China 25 ProShares and UltraShort MSCI Japan ProShares brings the firm's total offerings to 58. ProShares is part of the $17 billion ProFunds Group, which also includes more than 60 ProFunds mutual funds. Since 1997, ProFunds has provided mutual fund investors with easier access to sophisticated investment strategies, with offerings that include mutual funds that seek to magnify daily index performance and funds that seek to increase in value when markets decline.
ProFunds Group describes the portfolio managers common to ProFund Advisors LLC, advisor to ProFunds mutual funds, and ProShare Advisors LLC, advisor to ProShares ETFs.
All investing involves risk, including the possible loss of principal. Short ProShares should lose value when their market indexes rise, and they entail certain risks, including, in some or all cases, aggressive investment technique, inverse correlation, leverage, market price variance and short sale risks, all of which can increase volatility and decrease performance.
ProShares are not diversified investments. Investment in smaller companies and narrowly focused investments, including single-country funds, typically exhibit higher volatility.
International investments may also involve risk from unfavorable fluctuation in currency values, differences in generally accepted accounting principles, and economic or political instability. In emerging markets, all these risks are heightened, and lower trading volumes may occur.
Carefully consider the investment objectives, risks, and charges and expenses of ProShares and ProFunds before investing. This and other information can be found in their prospectuses. Read the prospectus(es) carefully before investing.
For a ProShares ETF prospectus, visit www.proshares.com and seek advice from your financial advisor or broker dealer representative. Financial professionals can also call 866-PRO-5125. For a ProFunds mutual funds prospectus, call 888-PRO-FNDS (individual investors) or 888-PRO-5717 (financial professionals) or visit www.profunds.com. Read the prospectus(es) carefully before investing.
ProFunds Distributors, Inc., is distributor for ProFunds mutual funds.
ProShares ETFs are distributed by SEI Investments Distribution Co., which is not affiliated with any ProFunds Group affiliate.
FTSE/Xinhua China 25 is a trademark of FTSE/Xinhua Index Limited ("FXI") and has been licensed for use by ProShares. "FTSE(R)" is a trademark of the London Stock Exchange PLC and The Financial Times Limited and is used by FXI under license. "Xinhua(R)" is a trademark of Xinhua Finance Limited and is used by FXI under license. ProShares have not been passed on by these entities or their affiliates as to their legality or suitability. ProShares are not sponsored, endorsed, sold or promoted by these entities or their affiliates, and they make no representation regarding the advisability of investing in these products.
THESE ENTITIES AND THEIR AFFILIATES MAKE NO WARRANTIES AND BEAR NO LIABILITY WITH RESPECT TO PROSHARES.
(1)Based on an analysis by FRC of the largest providers of funds in these categories. The analysis covered ETFs and mutual funds by the number of funds and assets.
(2)Based on our analysis of first-day trading volumes for leading ETFs obtained through Bloomberg.
(3)According to FRC, the total assets in ProShares ETFs after the first 12 months of operation were more than any other ETF provider's assets after its first 12 months of operation |
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發表於 2009-8-15 20:41
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