ProShares Launches Four New UltraShort ETFs

ProShares, together with The American Stock Exchange® (Amex®), announced the addition of four exchange traded funds (ETFs) to the ProShares lineup. UltraShort ProShares are the first ETFs designed to provide magnified short exposure to well-known market indexes.

The new UltraShort ProShares seek daily investment results that correspond to twice the inverse of those indexes, before fees and expenses. ProShares, which is part of ProFunds Group, introduced its family of innovative ETFs on June 21, 2006, with eight other ETFs offering short or magnified exposure to popular indexes.

"Over the past few years, we have seen increasing investor interest in more sophisticated strategies—especially strategies to use when markets are heading down. But for investors who use ETFs, it hasn’t necessarily been easy to execute those strategies. Shorting a traditional ETF can involve setting up a margin account, borrowing securities—and, potentially, losing more than the original investment," said Michael Sapir, CEO of ProShare Advisors LLC.

"Because UltraShort ProShares offer built-in magnified short exposure to an index, investors can ‘go short’ with a single ETF trade," he continued. "Whether the strategy is to capitalize on a trend or hedge against the risk of a decline, magnified exposure means the investor can commit half the dollars to potentially obtain the desired level of exposure. And, while both gains and losses are magnified, unlike other shorting strategies, the investor can’t lose more than the original investment."

"We are very excited to welcome ProShares back to the Amex for their new and innovative ETF listings," said Cliff Weber, Senior Vice President of the ETF Marketplace. "These ETFs accommodate a growing demand from investors that are seeking targeted ETFs to complement their investment portfolios."

With the launch of the UltraShort ProShares, the firm now offers 12 ETFs. Four Short ProShares are the first ETFs designed to provide short exposure to well-known market indexes, seeking daily investment results that correspond to the inverse of the indexes, before fees and expenses. Four Ultra ProShares are the first ETFs designed to magnify daily index performance, seeking daily investment results that correspond to twice the performance of their indexes, before fees and expenses.

Names of ProShares, their objectives and ticker symbols:

UltraShort ProShares

Fund Name	Daily Objective*	Ticker Symbol (NAV)
UltraShort QQQ® ProShares	Double the inverse of the NASDAQ-100 Index®	QID
UltraShort S&P500® ProShares	Double the inverse of the S&P 500® Index	SDS
UltraShort Dow30SM ProShares	Double the inverse of the Dow Jones Industrial AverageSM	DXD
UltraShort MidCap400 ProShares	Double the inverse of the S&P MidCap 400	MZZ

Short ProShares

Fund Name	Daily Objective*	Ticker Symbol (NAV)
Short QQQ ProShares	Inverse of the NASDAQ-100 Index	PSQ
Short S&P500 ProShares	Inverse of the S&P 500 Index	SH
Short Dow30 ProShares	Inverse of the Dow Jones Industrial Average	DOG
Short MidCap400 ProShares	Inverse of the S&P MidCap 400	MYY

Ultra ProShares

Fund Name	Daily Objective*	Ticker Symbol (NAV)
Ultra QQQ ProShares	Double the NASDAQ-100 Index	QLD
Ultra S&P500 ProShares	Double the S&P 500 Index	SSO
Ultra Dow30 ProShares	Double the Dow Jones Industrial Average	DDM
Ultra MidCap400 ProShares	Double the S&P MidCap 400	MVV