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Products December 3, 2008
ProFunds Launches Gold/Silver ETFs
ProFunds Group is launching what it calls the first exchange-traded funds (ETFs) in the U.S. to provide short or leveraged exposure to gold or silver.
Reported by Nevin E. Adams
According to a press release, the four new ETFs will begin trading on the NYSE Arca Wednesday. They join a line-up of four other Commodities ProShares that launched last week (see “ProFunds Launches Short, Leveraged Exposure ETFs“).
ProShare Capital Management is part of ProFunds Group, which includes the family of 76 short and leveraged ProShares ETFs as well as ProFunds, which offers more than 115 ProFunds mutual funds.
Fund Information
| Ultra Gold | UGL | Gold Bullion price, London p.m. fix | 200% |
| UltraShort Gold | GLL | Gold Bullion price, London p.m. fix | -200% |
| Ultra Silver | AGQ | Silver bullion price, London fix | 200% |
| UltraShort Silver | ZSL | Silver bullion price, London fix | -200% |
| Ultra DJ-AIG Commodity | UCD | Dow Jones-AIG Commodity Index | 200% |
| UltraShort DJ-AIG Commodity | CMD | Dow Jones-AIG Commodity Index | -200% |
| Ultra DJ-AIG Crude Oil | UCO | Dow Jones-AIG Crude Oil Sub-Index | 200% |
| UltraShort DJ-AIG Crude Oil | SCO | Dow Jones-AIG Crude Oil Sub-Index | -200% |
* Before fees and expenses.
Each fund is a series of ProShares Trust II and shares of each will trade on the NYSE Arca. Each fund will continuously offer and redeem its shares in blocks of 50,000 shares called Creation Units, which Authorized Participants may purchase and redeem directly from the funds. ProShare Capital Management LLC serves as the trust’s sponsor.