New ETFs Turn Value Into Aggressive Growth

February was a big month for launching exchange-traded funds, with 53 new ETFs. Seven of them trade on foreign exchanges, with the remaining 46 listed on the NYSE, Nasdaq and American Stock Exchange.

ProShares introduced 12 more ETFs that employ 200% leverage by tracking six Russell indices. Half of the funds take the long side, betting that the underlying index rises. The other half play the short side, looking for a decline.

Officially, the Russell Investment Group separates the members of its Russell 3000 Index of U.S. companies into two groups. The 1,000 stocks with the largest market capitalization go into the Russell 1000 Index. The smallest 2,000 go into the Russell 2000 Index, considered a small-cap benchmark. The Russell Mid-cap Index includes the 800 smallest companies from the Russell 1000 Index. ...