ProShares Launches Short ETFs - Energy and Financials
ProShares added two ETFs to their Short line-up this week - Short Oil & Gas (DDG) and Short Financials (Amex: SEF). Both ETFs have a daily objective of 100% of the inverse of their benchmark index.
The new ETFs complement ProShares UltraShort Oil & Gas (DUG) and UltraShort Financials (SKF). DUG has attracted $2.3 billion and SKF has brought in $1 billion in net flows in 2008. UltraShort ETFs have a daily objective of 200% of the inverse of their benchmark index.
ProShares specializes in short and leveraged ETFs and is the 5th largest ETF provider in the U.S. In terms of net flows, ProShares ranks number one among U.S. ETF companies through April 2008.
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