ProShares Launches First Geared VIX Futures ETFs
ProShares, a premier provider of alternative exchange traded funds (ETFs), including the only VIX futures ETFs in the United States, today announced the expansion of its lineup with the launch of the first ETFs in the United States designed to provide magnified or inverse exposure to VIX futures.
The ProShares Ultra VIX Short-Term Futures ETF (NYSE: UVXY) seeks to provide 2x the daily performance of the S&P 500 VIX Short-Term Futures Index, before fees and expenses. The ProShares Short VIX Short-Term Futures ETF (NYSE: SVXY) seeks to provide -1x the daily performance of the S&P 500 VIX Short-Term Futures Index, before fees and expenses. The ETFs list on NYSE Arca today.
"Many investors are focused on volatility of the equity markets and are interested in tools that could help manage or incorporate volatility in sophisticated portfolios," said Michael L. Sapir, Chairman and CEO of ProShare Capital Management, the sponsor of the funds. "Now, with our introduction of these new ProShares, investors for the first time can get leveraged or inverse exposure to VIX futures with an exchange traded fund."
Since the financial crisis, there has been heightened attention on equity market volatility. ProShares introduced the nation’s first two VIX futures ETFs in early 2011. Today’s launch expands the firm’s lineup of the nation’s only VIX futures ETFs to four, providing investors a suite of tools to help manage risk or to act on views on volatility.
|ProShares||Ticker Symbol||Index/Benchmark||Daily Objective|
|New Volatility ETFs|
|Ultra VIX Short-TermFutures||UVXY||S&P 500 VIX Short-Term Futures||2x|
|Short VIX Short-TermFutures||SVXY||S&P 500 VIX Short-Term Futures||-1x|
|Existing Volatility ETFs|
|VIX Short-Term Futures||VIXY||S&P 500 VIX Short-Term Futures||1x|
|VIX Mid-Term Futures||VIXM||S&P 500 VIX Mid-Term Futures||1x|
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