The ProShares Ultra Australian Dollar (GDAY) and ProShares UltraShort Australian Dollar (CROC) made their trading debut. Both U.S.-listed ETFs provide magnified or inverse exposure to the Australian dollar.
GDAY aims for 2x or 200% the daily performance of the U.S. dollar price of the Australian dollar, before fees and expenses.
CROC aims for minus 2x or 200 percent inverse the daily performance of the U.S. dollar price of the Australian dollar, before fees and expenses.
“The Australian dollar is one of the world’s most actively traded currencies,” said Michael L. Sapir, chairman and CEO of ProShare Capital Management, the sponsor of the funds. “We are pleased to offer investors additional ways to manage risk or potentially take advantage of moves in this widely followed currency market.”