ProShares has released four ETFs in the US providing two times leveraged exposure to indices covering Europe, Pacific ex-Japan, Brazil and Mexico.
The new funds, listed on NYSE Arca, are designed to return 200% or two times the daily performance of the respective underlying indices, before fees and expenses.
The range includes the Ultra MSCI Europe, Ultra MSCI Pacific Ex-Japan, Ultra MSCI Brazil and Ultra MSCI Mexico Investable Market.
However, ProShares says leveraged funds will likely provide a return which differs in amount, and possibly direction, to the target return if held for periods other than one day, due to the compounding of daily returns.
The latest range complements existing short ProShares funds that aim to deliver the daily inverse performance of the underlying international indices.
The issuer has 19 leveraged and inverse ETFs, tracking a variety of international regions and countries. ProShares unveiled leveraged and inverse ETFs in the US in 2006.
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