Alternative exchange traded fund provider, ProShares, has announced the launch of the ProShares Hedge Replication ETF to provide hedge fund exposure without the challenge of hedge fund investing.
The ProShares Hedge Replication ETF's benchmark will be based on Merrill Lynch's recognized hedge fund replication model, Merrill Lynch Factor Model – Exchange Series (MLFM-ES). The fund will seek to match performance, before fees and expenses. The MLFM-ES aims to provide the risk/return characteristics of a broad universe of hedge funds by targeting a high correlation to the HFRI Fund Weighted Composite Index, an equally weighted composite of more than 2,000 constituent hedge funds. The fund seeks to provide the risk/return characteristics of a broad universe of hedge funds without ...
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