ProShares Credit Suisse 130/30 (NYSE Arca: CSM)
This ETF seeks investment results, before fees and expenses, that track the performance of the Credit Suisse 130/30 Large-Cap Index (the “Index”). The Index is designed to replicate an investment strategy that establishes either long or short positions in certain of the 500 largest U.S. companies based on market capitalization (the “Universe”) by applying a rules-based ranking and weighting methodology. The design intends to provide an indexed representation of a quantitatively constructed 130/30 U.S. large-cap equity strategy. This is intended to result in the Index having total long exposure of 130% and total short exposure of 30% at each monthly reconstitution date. The Index is intended to have risk characteristics similar to the Universe and generally rise and fall with the Universe, with the goal, but not guarantee, of incremental risk-adjusted outperformance as compared to the Universe. For a fully detailed description of the Index and the ETF’s principal investment strategies and risks, please refer to its prospectus, available at www.proshares.com.
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 717 primary ETF and ETV listings. Additionally, NYSE Arca lists 84 ETNs, 222 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.
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 89 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.
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, Credit Suisse or their affiliates.
About NYSE Euronext
NYSE Euronext (NYX) is a leading global operator of financial markets and provider of innovative trading technologies. The company's exchanges in Europe and the United States trade equities, futures, options, fixed-income and exchange-traded products. With more than 8,000 listed issues, NYSE Euronext's equities markets -- the New York Stock Exchange, Euronext, NYSE Arca and NYSE Amex -- represent nearly 40 percent of the world's equities trading, 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. The company offers comprehensive commercial technology, connectivity and market data products and services through NYSE Technologies. NYSE Euronext is in the S&P 500 index, and is the only exchange operator in the S&P 100 index and Fortune 500. For more information, please visit: http://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.
“Credit Suisse” and “Credit Suisse 130/30 Large-Cap IndexTM,” are trademarks of Credit Suisse Securities (USA) LLC or one of its affiliates and have been licensed for use by ProShares. ProShares have not been passed on by Credit Suisse or its affiliates as to their legality of suitability. ProShares are not sponsored, endorsed, sold, or promoted by Credit Suisse or its affiliates, and they make no representation regarding the advisability of investing in ProShares. THESE ENTITIES AND THEIR 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).