ProShares launched 12 new ETFs on the American Stock Exchange. The ETFs carry a 0.95% expense ratio and are geared toward short and magnified exposure to six benchmarked Russell indexes. Pete Bucci from Ignites.com
stated six of the new funds are "Ultra"-style ETFs which provide a return double of what the market brings in and vice-versa. The other six are "Ultra-Short" ETFs and they provide double the inverse of what the market returns.
Ultra Russell 1000 Value (UVG) Ultra Russell 1000 Growth (UKF) Ultra Russell MidCap Value (UVU) Ultra Russell MidCap Growth (UKW) Ultra Russell 2000 Value (UVT) Ultra Russell 2000 Growth (UKK) UltraShort Russell 1000 Value (SJF) UltraShort Russell 1000 Growth (SFK) UltraShort Russell MidCap Value (SJL) UltraShort Russell MidCap Growth (SDK)