Investing
More Triple-Leverage ETF Launches (TQQQ, UDOW, UMDD, URTY, SQQQ, SDOW, SMDD, SRTY)
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Usually we think of Direxion in the world of triple-leverage and triple-inverse funds, but there are others. And now there are more… ProFunds Group is launching new Triple Leverage ETFs and Triple-Inverse ETFs. For triple leverage up, it is offering tracking returns for the NASDAQ-100, DJIA, S&P Mid-Cap 400, and the Russell 2000. Its Triple-inverse launches are on the same indexes. ProShares already has triple-leverage and triple-inverse S&P 500 Index ETFs, so this should make it have a large spread of the major US equity indexes for stock traders.
New +3x UltraPro ProShares
UltraPro QQQ (NASDAQ: TQQQ) tracks the NASDAQ-100 Index with a correlation of +300% Daily
UltraPro Dow30 (NYSE: UDOW) tracks the DJIA with a correlation of +300% Daily
UltraPro MidCap400 (NYSE: UMDD) tracks the S&P MidCap 400 Index with a correlation of +300% Daily
UltraPro Russell2000 (NYSE: URTY) tracks the Russell 2000 Index with a correlation of +300% Daily
New -3x UltraPro ProShares
UltraPro Short QQQ (NASDAQ: SQQQ) tracks NASDAQ-100 Index with an inverse correlation at -300% Daily
UltraPro Short Dow30 (NYSE: SDOW) tracks the DJIA with an invesrse correlation of -300% Daily
UltraPro Short MidCap400 (NYSE: SMDD) tracks the S&P MidCap 400 Index with an inverse correlations of -300% Daily.
UltraPro Short Russell2000 (NYSE: SRTY) tracks the Russell 2000 Index with an inverse correlation of -300% Daily.
By now you likely know this. But we still want to make a reminder. These triple-leverage and inverse ETF products often have severe tracking error compared to their underlying index moves. Technically, the triple-leverage and triple-inverse ETFs can go less than $0.00, which is why we saw reverse splits in some triple-ETF products last year.
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JON C. OGG
FEBRUARY 11, 2010
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