ProShares has unveiled two ETFs providing three times leveraged exposure to the Nasdaq 100 index in the US.
The ProShares UltraPro QQQ is designed to return three times the daily performance of the underlying Nasdaq 100 index.
The ProShares UltraPro Short QQQ conversely aims to return three times the inverse daily performance of the benchmark.
The underlying index comprises 100 of the largest domestic and international non-financial securities listed on the Nasdaq exchange, based on market capitalisation.
It includes companies involved in the computer, biotechnology, health care and telecommunications sectors.
The firm highlights the leveraged return of the index is based on a single day, before fees and expenses.
As the daily returns are compounded, any returns over periods other than one day could differ in amount, and possibly direction, from the target return for the respective time frame.
ProShares says: "Investors should monitor their holdings consistent with their strategies, as frequently as daily."
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