ProFunds Group, the world’s largest manager of short and leveraged funds1
, announced today that it is launching the first ETFs designed to seek triple exposure to the S&P 500 on a daily basis. ProShares UltraPro S&P500 (UPRO) seeks 300% of the performance of the S&P 500 for a single day
, while ProShares UltraPro Short S&P500 (SPXU) seeks 300% of the inverse performance of the S&P 500 for a single day
(before fees and expenses). The new ETFs will be listed on NYSE Arca today.