Ian Salisbury of the Wall Street Journal reports ProFunds filed to add 66 new exchange traded funds to their current offering of 12. This will make a significant impact on the ETF offerings. The new ETFs will be marketed under the ProShares brand and follow a wide range of industries as well as the Russell 2000 and S&P SmallCap 600.
There will be 22 strategies, each with one designed to double the performance of its benchmark, another to generate inverse performance and a third to double inverse returns. These funds are different than most ETFs, in that none of them will aim to replicate the returns of their benchmark.
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