New ProShares coming: 66 of them
Proshares will be loading 66 new ETFs onto the market over the next few months. The new funds cover 22 indexes, and will – like its initial offerings covering the S&P 500, the Nasdaq 100, the Dow Jones Industrial Average and the S&P MidCap 400 – be offered in ultra, short, and ultrashort versions, offering, respectively, double, inverse and double inverse exposure.
The new funds will include two small-cap trackers, linked to the Russell 2000 and the S&P 600, along with versions designed to capture the Citigroup Growth and Value variants of the S&P 500, S&P 400 and S&P 600 indexes. The others will cover 13 major sectors from the Dow Jones US series.
In a filing with the US Securities and Exchange Commission Aug. 30, ProShares said that the registration would be effective within 75 days of its filing; its initial ETFs, which attracted assets of more than $1 billion in less than three months from launch, rolled around the agency for almost seven years before being liberated. Assuming – somewhat bravely – the agency doesn’t come up with any reason to step in the way of this train, ProShares would be able to begin listing the ETFs from mid-November, just in time to catch the end-of-year tax-loss reallocation season.
The new Proshares are:
Large-cap (2): S&P 500/Citigroup Growth/Value
MidCap (2): S&P MidCap 400/Citigroup Growth/Value
Small cap (5): Russell 2000, S&P SmallCap 600, S&P SmallCap 600/Citigroup Growth/Value
Sectors (13): Basic Materials, Biotechnology, Consumer Goods, Consumer Services, Financials, Health Care, Industrials, Oil & Gas, Precious Metals, Real Estate, Semiconductors, Technology, Telecommunications, Utilities |
