ProShares, the largest issuer of inverse and leveraged exchange traded funds, said today several of its commodities ETFs will change names and indexes.
“On or about July 1, 2014, the DJ-UBS commodity indexes will become the Bloomberg Commodity Index family. As a result, the names of these indexes are changing, as are the names of the ProShares ETFs that seek to track the indexes. Note that only the names are changing. The methods for selecting index components remain the same, as do the investment objectives of the ETFs,” said ProShares in a statement.
The affected funds include the ProShares Ultra DJ-UBS Commodity (NYSEArca: UCD), which will change its name to the ProShares Ultra Bloomberg Commodity and track the Bloomberg Commodity Index (BCOM).
UCD’s inverse equivalent, the ProShares UltraShort DJ-UBS Commodity (NYSEArca: CMD), will become the ProShares UltraShort Bloomberg Commodity.
The ProShares Ultra DJ-UBS Crude Oil (NYSEArca: UCO) will change its name to the ProShares Ultra Bloomberg Crude Oil and track the Bloomberg WTI Crude Oil Subindex (BCOMCL). UCO’s bearish equivalent, the ProShares UltraShort DJ-UBS Crude Oil (NYSE: SCO), will change its name to the ProShares UltraShort Bloomberg Crude Oil.