ProFunds Group has launched a range of single inverse ProShares ETFs in the US, providing exposure to China, US real estate and the US basic materials sector.
The firm's latest offering comprises the FTSE/Xinhua China 25, the Short Real Estate and the Short Basic Materials funds, listed on NYSE Arca. The inverse funds are designed to return -100% of the daily performance of the underlying index, before fees and expenses. As a result, the funds provide positive returns when the benchmark declines, and negative returns when the benchmark rises. The firm says these ETFs may be used by "knowledgeable" investors for short-term periods, to manage risk or seek profit when markets are declining. ProShare Advisors CEO Michael Sapir says: "Our ...
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