ProShares announced today the launch of the first short international exchange traded funds (ETFs) designed to go up when a foreign market goes down. The six new ProShares ETFs to be listed on the American Stock Exchange (AMEX) are:

  • Short MSCI EAFE (EFZ) – This ETF’s daily objective is to provide daily returns equal to the inverse of the daily return of the MSCI EAFE Index.
  • UltraShort MSCI EAFE (EFU) – This ETF’s daily objective is to provide daily returns equal to two times the inverse of the daily return of the MSCI EAFE Index.
  • Short MSCI Emerging Markets (EUM) – This ETF’s daily objective is to provide daily returns equal to the inverse of the daily return of the MSCI Emerging Markets Index.
  • UltraShort MSCI Emerging Markets (EEV) – This ETF’s daily objective is to provide daily returns equal to two times the inverse of the daily return of the MSCI Emerging Markets Index.
  • UltraShort MSCI Japan (EWV) – The ETF’s daily objective is to provide daily returns equal to two times the inverse of the daily return of the MSCI Japan Index.
  • UltraShort FTSE/Xinhua China 25 (FXP) – This ETF’s daily objective is to provide daily returns equal to two times the inverse of the daily return of the FTSE/Xinhua 25 China Index.

EFZ and EFU launched today, while the remaining four will launch in November.

The opinions and forecasts expressed herein are solely those of Tom Lydon, and may not actually come to pass. Information on this site should not be used or construed as an offer to sell, a solicitation of an offer to buy, or a recommendation for any product.