ProShares, the leading manager of leveraged and inverse ETFs, 1 and KBW (NYSE: KBW), the largest full-service investment bank specializing in the financial services sector, announced today the launch of the first ETFs providing leveraged or inverse exposure to the regional banking sector.
The ETFs seek to provide 200% or -100% of the return of the KBW Regional Banking Index SM for a single day, before fees and expenses. The KBW Regional Banking Index, the most widely used benchmark for U.S. regional banking stocks, 2 was created and is managed by KBW.
The new ProShares ETFs, Ultra KBW Regional Banking (KRU) and Short KBW Regional Banking (KRS), will list on NYSE Arca today.
“We’re pleased to provide investors with ProShares ETFs on the regional banking sector,” said Michael L. Sapir, Chairman and CEO of ProShare Advisors LLC, ProShares' investment advisor. “Many investors follow regional banking stocks, and these ETFs provide them with additional tools to act on their views.”“We are excited about teaming with ProShares to bring investors these valuable new tools for managing exposure to regional banks,” added John N. Howard, Co-Director of Research at KBW.
|New Regional Banking Sector ProShares|
Ultra KBW RegionalBanking
|KRU||KBW Regional Banking Index||+200% Daily||NYSE Arca|
Short KBW RegionalBanking
|KRS||KBW Regional Banking Index||-100% Daily||NYSE Arca|