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.

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 GoldUGLGold Bullion price, London p.m. fix200%
UltraShort GoldGLLGold Bullion price, London p.m. fix-200%
Ultra SilverAGQSilver bullion price, London fix200%
UltraShort SilverZSLSilver bullion price, London fix-200%
Ultra DJ-AIG CommodityUCDDow Jones-AIG Commodity Index200%
UltraShort DJ-AIG CommodityCMDDow Jones-AIG Commodity Index-200%
Ultra DJ-AIG Crude Oil UCODow Jones-AIG Crude Oil Sub-Index200%
UltraShort DJ-AIG Crude OilSCODow 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.