ProShares Launches First Leveraged And Inverse Biotechnology ETFs
ProShares, the leading manager of leveraged and inverse ETFs, 1 announced today that it is launching the first ETFs with leveraged and inverse exposure to the biotechnology sector. The ETFs seek to provide 200% or -200% of the return of the NASDAQ Biotechnology Index ® for a single day. The NASDAQ Biotechnology Index ® is the most widely used benchmark for U.S. biotechnology stocks. 2
The new ProShares ETFs, Ultra Nasdaq Biotechnology (BIB) and UltraShort Nasdaq Biotechnology (BIS), will list on The NASDAQ Stock Market ® today.
“We’re pleased to provide investors with ProShares ETFs benchmarked to the most popular biotech index,” said Michael L. Sapir, Chairman and CEO of ProShare Advisors LLC, ProShares’ investment advisor. “Many investors have strong opinions on the biotech industry, and these ETFs provide them with leveraged or inverse exposure to the sector to help them act on their views.”
|New Biotechnology Sector ProShares|
|BIB||NASDAQ Biotechnology Index ®||+200% Daily||NASDAQ|
|BIS||NASDAQ Biotechnology Index ®||-200% Daily||NASDAQ|
*Before fees and expensesAbout ProShares ProShares is part of ProFunds Group, the leader in leveraged and inverse funds. 1 ProShares introduced the first leveraged and inverse ETFs in the U.S. in 2006. Since 1997, ProFunds mutual funds have provided investors with access to sophisticated investment strategies. Most ProShares ETFs and many ProFunds employ leveraged investment techniques that magnify gains and losses, and result in greater volatility in value. Each Short or Ultra ProShares ETF and leveraged or inverse ProFund seeks a return that is a multiple or inverse multiple (e.g., -200%) of the return of an index or other benchmark (target) for a single day , before fees and expenses. Due to the compounding of daily returns, Short or Ultra ProShares’ and leveraged and inverse ProFunds’ 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 holdings consistent with their strategies, as frequently as daily. For more on correlation, leverage and other risks, please read the ProShares or ProFunds prospectus. # # #
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