New ProShares ETFs Track the Russell 3000

Two new exchange traded funds (ETFs) are breaking into the market from ProShares which will give exposure to the Russell 3000 Index. The latest ETFs from ProShares will give investors 200% and -200% exposure to the Russell 3000 Index, which measures the stock performance of the largest 3000 U.S. companies – representing approximately 98% of the investable U.S. equity market.

The new ETFs are:

• ProShares Ultra Russell 3000 Index (UWC)
  
• ProShares UltraShort Russell 3000 Index (TWQ)
  

The funds will replicate the performance of the index on a daily basis, tracking the moves of both upward and downward momentum. This brings the innovative ProShares ETF family that track Russell Indexes to a total of 17 ETFs, according to the press release.

Always be aware of the caveats when it comes to leveraged and inverse ETFs.

For more stories on these types of ETFs, visit our long-short ETF category.