The ProShares Ultra Junior Gold Miners would attempt to deliver twice the daily performance of the aforementioned index. The SEC filing did not mention tickers or expense ratios for the ProShares ETFs, indicating a launch is not imminent.
Although leveraged mining ETFs are volatile and, in the case of JNUG, terrible performers when gold prices move in the opposite direction of the fund’s bullish or bearish objective, the funds have been popular with investors.
For example, JNUG has hauled in over $636 million in new assets this year, about half the inflows that have been directed to GDXJ.
JNUG, which is down 77.4% this year, will be reverse split on a 1-for-10 basis prior to the open of U.S. markets on Dec. 23. [A Reverse Split for JNUG]
ETF Trends editorial team contributed to this post.