New ProShares/Russell ETFs

ProShares launched 12 new exchange traded funds (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)