NEW YORK, July 2nd –- NYSE Euronext (NYX) announced that its wholly-owned subsidiary, NYSE Arca, today began trading Ultra Russell3000 and UltraShort Russell3000 ETFs, sponsored by ProShare Advisors LLC.
Name and Ticker Symbol of the Two ProShares ETFs:
• ProShares Ultra Russell3000 -Ticker Symbol “UWC”
• ProShares UltraShort Russell3000 – Ticker Symbol “TWQ”
ProShares Ultra Russell3000
ProShares Ultra Russell3000 seeks daily investment results, before fees and expenses, which correspond to twice (200%) the daily performance of the Russell 3000® Index.
ProShares UltraShort Russell3000
ProShares UltraShort Russell3000 seeks daily investment results, before fees and expenses, which correspond to twice (200%) the inverse (opposite) of the daily performance of the Russell 3000 Index.
These funds seek a 200% or -200% return, respectively, of an index for a single day. Due to the compounding of daily returns, returns over periods other than one day will likely differ in amount and possibly direction from the target return for the same period. Investors should monitor their holdings consistent with their strategies, as frequently as daily. The funds’ prospectus describing correlation, leverage and other risks is available at www.proshares.com.
ProShares, which introduced the first short and leveraged ETFs in 2006, continues to be a leader in launching innovative new products—for two years in a row, ProShares has led the industry in attracting assets to newly launched ETFs.1 It is part of ProFunds Group, the world’s largest manager of short and leveraged funds2, which now includes 88 ProShares ETFs, and 115 ProFunds mutual funds. Since 1997, ProFunds has provided investors with access to sophisticated investment strategies, with offerings that include funds that seek to magnify daily index performance and funds that seek to increase in value when markets decline. The group also manages the Canada-based Horizons BetaPro ETFs. (Source: ProShares)
ProFunds Group includes ProFunds mutual funds and ProShares ETFs. ProFunds Distributors, Inc. is distributor for ProFunds mutual funds. ProShares ETFs registered under the Investment Company Act of 1940 are distributed by SEI Investments Distribution Co., which is not affiliated with ProFunds Group or its affiliates.
Background on Exchange Traded Products (ETPs) on NYSE Euronext
NYSE Euronext operates the world's largest Exchange Traded Products marketplace, and is the leading venue for Exchange Traded Funds (ETFs), Exchange Traded Notes (ETNs), Exchange Traded Vehicles (ETVs) and Warrants and Certificates trading. NYSE Euronext's offering of these products provides investors access to regulated listings as well as fast and innovative trading tools to access liquidity. NYSE Arca, NYSE Euronext's US market for ETFs, has 676 primary ETF and 48 primary ETV listings. Additionally, NYSE Arca lists 84 ETNs, 225 Certificates, while trading all other eligible ETPs on an Unlisted Trading Privileges basis. On its European markets, NYSE Euronext has 396 primary ETFs, 74 ETV listings, 4 ETN and lists a total of 12,652 Warrants and Certificates as of the end of May 2009.
About NYSE Euronext
NYSE Euronext (NYX) offers a broad and growing array of financial products and services in Europe and the United States that include cash equities, futures, options, exchange-traded products, bonds, market data, and commercial technology solutions. With over 8,000 listed issues globally, NYSE Euronext's equities markets -- the New York Stock Exchange, Euronext, NYSE Arca, and NYSE Amex -- represent nearly 40% of the world's cash equities trading volume, the most liquidity of any global exchange group. NYSE Euronext also operates NYSE Liffe, the leading European derivatives business and the world’s second largest derivatives business by value of trading. NYSE Euronext offers comprehensive global commercial technology, connectivity, and market data products and services through its innovative trading solutions unit, NYSE Technologies. NYSE Euronext is part of the S&P 500 index and the only exchange operator in the S&P 100 index. For more information, please visit: www.nyx.com.
NYSE Euronext and its affiliates do not recommend or make any representation as to possible benefits from any securities or investments, or third-party products or services. Investors should undertake their own due diligence regarding their securities and investment practices. This press release speaks only as of this date. NYSE Euronext disclaims any duty to update the information herein.
Russell 3000® Index is a trademark of Russell Investment Group and has been licensed for use by ProShares. ProShares are not sponsored, endorsed, sold, or promoted by Russell Investment Group, and Russell Investment Group makes no representation regarding the advisability of investing in ProShares. THIS ENTITY AND ITS AFFILIATES MAKE NO WARRANTIES AND BEAR NO LIABILITY WITH RESPECT TO PROSHARES.
1 Citigroup ETF Flow Report, based on an analysis of ETPs introduced in 2007 and 2008.
2 Source: Lipper, based on a worldwide analysis of all of the known providers of publicly traded funds in these categories. The analysis covered ETFs, ETNs, and mutual funds by the number of funds and assets (as of 6/30/2008).