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ProShares Launches Four New Leveraged International ETFs

by Michael Johnston on June 4, 2009 | ETFs Mentioned: EET • EFO • EZJ • XPP

ProShares, a leader in the inverse and leveraged ETFs, today launched four new ETFs offering magnified exposure to international markets. The funds, which seek 200% of the daily returns of their target indexes, are:

Ultra MSCI EAFE (EFO)
Ultra MSCI Emerging Markets (EET)
Ultra FTSE/Xinhua China 25 (XPP)
Ultra MSCI Japan (EZJ)

Commenting on the new funds, ProFunds Chairman and CEO Michael L. Sapir said, “With some international markets posting strong year-to-date returns, investors are expressing interest in tools that allow them to gain magnified exposure to these markets. These new ETFs complement our existing ETFs that are designed to provide short (or inverse) exposure to the same international indexes. Over the coming weeks, we plan to further expand our international offerings with ETFs covering more regions and specific countries.” According to ProShares web site, the sponsor is targeting the future launch of “four new UltraShort ProShares for European, Pacific, and Latin American markets.”

ProShares, which first introduced its short and leveraged ETF products in 2006, currently offers 80 ETFs. As the sponsor notes, due to the compounding of daily returns, returns over periods of more than one day will likely differ in magnitude (and possibly direction) from the target return over the same period.