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Investing

More Triple-Leverage ETF Launches (TQQQ, UDOW, UMDD, URTY, SQQQ, SDOW, SMDD, SRTY)

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By Douglas A. McIntyre Updated Published
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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.

You are invited to join our free daily email distribution list to hear about key ETF and ETN developments, top analyst upgrades and downgrades, IPOs and secondary offerings, ongoing day trader and options trader alerts, stock and market rumors, Buffett and guru investor news, M&A and more.

JON C. OGG
FEBRUARY 11, 2010

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About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

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