The new communication services sector continues to gain attention with ProShares set to launch four new tactical ETFs next week that will be benchmarked to the S&P Communication Services Select Sector Index.
The sector focuses on the evolution of communication, entertainment and information sharing, which brings together certain FAANG stocks, media giants and telecom leaders, among others.
The new ProShares ETFs listed in the table below will list on NYSE Arca and seek daily investment results that correspond to +/- 2x and +/- 3x the daily performance of the index, before fees and expenses.
|Ultra Communication Services Select Sector ETF||XCOM||2x|
|UltraPro Communication Services Select Sector ETF||UCOM||3x|
|UltraShort Communication Services Select Sector ETF||YCOM||-2x|
|UltraPro Short Communication Services Select Sector ETF||SCOM||-3x|
Ben Fulton, managing director of ProShares’ tactical products business, said ProShares is committed to providing knowledgeable investors with a comprehensive set of tools for tactical investing.
“To that end, we are particularly excited about adding leveraged and inverse communication services ETFs to our sector suite,” Fulton said.
While this future-oriented corner of the equity market may be attractive for its long-term growth potential, ProShares leveraged and inverse communication services ETFs offer the opportunity for investors to seek profit from short-term moves—both up and down—as well.
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