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April 01, 2007 at 04:00 AM
The old axiom on Wall Street is that money can be made in any kind of market. To that end, Bethesda, Md.-based ProShare Advisors has introduced a second round of 22 bull- and bear-oriented sector ETFs just one week after launching the first wave.
The latest round of ProShares will offer leveraged long and short exposure to Dow Jones U.S. stock sectors such as energy, healthcare and technology. According to the prospectus, the expense ratios are 0.95 percent and all are listed on the American Stock Exchange.
The long-oriented Ultra ETFs are designed to double the upside performance of the indexes they track. Their counterparts, the UltraShort funds, take a bearish approach by using leverage to target returns opposite to their benchmarks’ performance.
Including the latest offerings, ProShares now offers a family of 40 ETFs that provide built-in short or magnified exposure to well-known indexes.
