ProShares Set To Begin Trading The ProShares Ultra MSCI Pacific ex-Japan ETF (UXJ) Tomorrow April 29
ProShares is set to begin trading the “ProShares Ultra MSCI Pacific ex-Japan ETF” (UXJ) tomorrow April 29. The Fund seeks investment results for a single day only, not for longer periods. This means that the return of the Fund for a period longer than a single trading day will be the result of each day’s returns compounded over the period, which will very likely differ from twice (200%) the return of the MSCI Pacific ex-Japan Index® (the “Index”) for that period. iShares currently has a non leveraged ETF based on the MSCI Pacific ex-Japan Index the “MSCI Pacific ex-Japan Index Fund” which trades under the symbol (EPP). EPP invests in publicly traded securities in the Australia, Hong Kong, New Zealand, and Singapore markets.
Annual Fund Operating Expenses: .95%
Principal Investment Strategies
Because the value of the Index is not computed as of the close of the U.S. securities markets due to differences in trading hours between U.S. and foreign markets, correlation to the Index will be measured by comparing the daily change in the Fund’s net asset value per share to the performance of one or more U.S. exchange traded securities or instruments that reflect the values of the securities underlying the Index as of the close of the U.S. securities markets.
The Fund invests in equity securities and derivatives that ProShare Advisors believes, in combination, should have similar daily performance characteristics as twice (200%) the daily return of the Index. The Index is a free-float-adjusted market capitalization-weighted index that is designed to measure the equity market performance of the developed markets in the eastern Pacific region, excluding Japan. The Index is divided into large- and mid-cap segments and targets approximately 85% of free float-adjusted market capitalization of the region. As of March 31, 2010, the Index consists of the following 4 developed market countries/cities: Australia, Hong Kong, New Zealand and Singapore. As of March 31, 2010, the Index included companies with capitalizations between $840 million and $134.3 billion. The average capitalization of the companies comprising the Index was approximately $8.7 billion. The Index is published under the Bloomberg ticker symbol “MXPFJ.” Assets of the Fund not invested in equity securities or derivatives will typically be held in money market instruments.
For the full prospectus click: HERE