UGL ETF launched

[seanm123]

ProShares Launches First Short and First Leveraged ETFs Tracking Gold or Silver


Wednesday December 3, 7:30 am ET
BETHESDA, Md.–(BUSINESS WIRE)–ProFunds Group, the world’s largest manager of short and leveraged funds,1 announced today that it is launching the first exchange traded funds in the United States to provide short or leveraged exposure to gold or silver. The four new ETFs will begin trading on the NYSE Arca today. They join a line-up of four other Commodities ProShares that launched last week.

http://biz.yahoo.com/bw/081203/20081203005253.html?.v=1

ProShares		Ticker		Index/Benchmark		Daily Objective*
Ultra Gold		UGL		Gold Bullion price, London p.m. fix		200%
UltraShort Gold		GLL		Gold Bullion price, London p.m. fix		-200%
Ultra Silver		AGQ		Silver bullion price, London fix		200%
UltraShort Silver		ZSL		Silver bullion price, London fix		-200%
Ultra DJ-AIG Commodity		UCD		Dow Jones-AIG Commodity IndexSM		200%
UltraShort DJ-AIG Commodity		CMD		Dow Jones-AIG Commodity IndexSM		-200%
Ultra DJ-AIG Crude Oil		UCO		Dow Jones-AIG Crude Oil Sub-IndexSM		200%
UltraShort DJ-AIG Crude Oil		SCO		Dow Jones-AIG Crude Oil Sub-IndexSM		-200%
* Before fees and expenses.

Comment:

Physical will beat paper when the reckoning comes, but these new ETFs will make it allot easier for the Joe Sixpack day trader to jump into the fray.

[rabot10]

Re: UGL ETF launched

Cool Thanks

[Tulpen]

Re: UGL ETF launched

One advantage over for instance DGP is that the new proshares are ETFs not ETNs. Same for DXO vs UCO.

Also they released ultra dollar ETFs.

[ddn3f]

Re: UGL ETF launched

One advantage over for instance DGP is that the new proshares are ETFs not ETNs. Same for DXO vs UCO.

Also they released ultra dollar ETFs.

So UCO tracks the price of oil, not oil stocks correct?
What are the benefits of ETF over ETNs besides the fact that if the company that backs the ETN goes under, you get nothing. But if the company that backs the ETF goes under, you still something?

[Tulpen]

Re: UGL ETF launched

So UCO tracks the price of oil, not oil stocks correct?

Correct, it track doublethe DJ OIL index.

What are the benefits of ETF over ETNs besides the fact that if the company that backs the ETN goes under, you get nothing. But if the company that backs the ETF goes under, you still something?

That is pretty much the main advantage I can think of. A slight benefit of the proshares ETFs is that they report an intrinsic value every 15 seconds. Something in the form of $symbol.iv (where symbol is your ETF)but check your quotations provider for details (for instance on yahoo it is different, they use: ^symbol-iv).

However as of yet it does not work correctly for UCO.