ProShares will expand on its line of leveraged ETF strategies, launching leveraged and inverse strategies for traders seeking tactical investments on the recently minted communications sector.

ProShares will launch the ProShares Ultra Communication Services Select Sector ETF (XCOM), ProShares UltraPro Communication Services Select Sector ETF (UCOM), ProShares UltraShort Communication Services Select Sector ETF (YCOM) and ProShares UltraPro Short Communication Services Slect Sector ETF (SCOM). The new ETFs will come with a 0.95% expense ratio.

The new ETFs will try to reflect the +/-2x and +/-3x the daily of the S&P Communication Services Select Sector Index. XCOM tries to achieve the +2x or 200% long exposure of the benchmark. UCOM tries to achieve +3x or 300% long exposure. YCOM tries to achieve -2x or -200% short exposure. Lastly, SCOM tries to achieve -3x or -300% short exposure.

The S&P Communication Services Select Sector Index is one of 11 S&P Select Sector Indices designed to measure the performance of a sector of the S&P 500. The communications sector includes companies involved in diversified telecommunications services; wireless telecommunications services; media; entertainment; and interactive media & services.

Subscribe to our free daily newsletters!
Please enter your email address to subscribe to ETF Trends' newsletters featuring latest news and educational events.