ProShares recently unveiled two industry sector ETFs that offer 300% daily leverage and inverse exposure to financial stocks.
The ProSharesUltraPro Financials (FINU) aims for 3x the daily performance of the Dow Jones U.S. Financials Index, while ProSharesUltraPro Short Financials (FINZ) offers minus 3x or opposite daily performance to the Dow Jones U.S. Financials Index.
S&P financial stocks (XLF) are ahead by 14.01% since the beginning of the year and are outperforming the broader S&P 500, which is ahead by 8.61%, as of late July.
“Financials have been one of the most dynamic parts of the market and many investors are seeking to manage risk or potentially take advantage of moves by the sector,” said Michael L. Sapir, chairman and CEO of ProShare Advisors LLC, ProShares’ investment advisor.
ProShares also offers a minus 1x financial ETF (SEF), a 2x financial ETF (UYG) and a minus 2x financial ETF (SKF).