Usually we think of Direxion in the world of triple-leverage and triple-inverse funds, but there are others. And now there are more… ProFunds Group is launching new Triple Leverage ETFs and Triple-Inverse ETFs. For triple leverage up, it is offering tracking returns for the NASDAQ-100, DJIA, S&P Mid-Cap 400, and the Russell 2000. Its Triple-inverse launches are on the same indexes. ProShares already has triple-leverage and triple-inverse S&P 500 Index ETFs, so this should make it have a large spread of the major US equity indexes for stock traders.
New +3x UltraPro ProShares
UltraPro QQQ (NASDAQ: TQQQ) tracks the NASDAQ-100 Index with a correlation of +300% Daily
UltraPro Dow30 (NYSE: UDOW) tracks the DJIA with a correlation of +300% Daily
UltraPro MidCap400 (NYSE: UMDD) tracks the S&P MidCap 400 Index with a correlation of +300% Daily
UltraPro Russell2000 (NYSE: URTY) tracks the Russell 2000 Index with a correlation of +300% Daily
New -3x UltraPro ProShares
UltraPro Short QQQ (NASDAQ: SQQQ) tracks NASDAQ-100 Index with an inverse correlation at -300% Daily
UltraPro Short Dow30 (NYSE: SDOW) tracks the DJIA with an invesrse correlation of -300% Daily
UltraPro Short MidCap400 (NYSE: SMDD) tracks the S&P MidCap 400 Index with an inverse correlations of -300% Daily.
UltraPro Short Russell2000 (NYSE: SRTY) tracks the Russell 2000 Index with an inverse correlation of -300% Daily.
By now you likely know this. But we still want to make a reminder. These triple-leverage and inverse ETF products often have severe tracking error compared to their underlying index moves. Technically, the triple-leverage and triple-inverse ETFs can go less than $0.00, which is why we saw reverse splits in some triple-ETF products last year.
You are invited to join our free daily email distribution list to hear about key ETF and ETN developments, top analyst upgrades and downgrades, IPOs and secondary offerings, ongoing day trader and options trader alerts, stock and market rumors, Buffett and guru investor news, M&A and more.
JON C. OGG
FEBRUARY 11, 2010