ProFunds Launches New Gold/Silver ETFs

December 3, 2008 ( - ProFunds Group is launching what it calls the first exchange traded funds in the United States to provide short or leveraged exposure to gold or silver.

According to a press release, the four new ETFs will begin trading on the NYSE Arca today. They join a line-up of four other Commodities ProShares that launched last week (see  ProFunds Launches Short/Leveraged Exposure ETFs ).

ProShare Capital Management is part of ProFunds Group, which includes the family of 76 short and leveraged ProShares ETFs as well as ProFunds, which offers more than 115 ProFunds mutual funds.

ProShares Ticker Index/Benchmark Daily Objective*
Ultra Gold UGL Gold Bullion price, London p.m. fix 200%
UltraShort GoldGLLGold Bullion price, London p.m. fix-200%
Ultra SilverAGQSilver bullion price, London fix200%
UltraShort SilverZSLSilver bullion price, London fix-200%
Ultra DJ-AIG CommodityUCDDow Jones-AIG Commodity Index SM200%
UltraShort DJ-AIG CommodityCMDDow Jones-AIG Commodity Index SM-200%
Ultra DJ-AIG Crude OilUCODow Jones-AIG Crude Oil Sub-Index SM200%
UltraShort DJ-AIG Crude Oil SCO Dow Jones-AIG Crude Oil Sub-Index SM -200%

class="bwcellparagraphmargin"> * Before fees and expenses.

Each fund is a series of ProShares Trust II and shares of each will trade on the NYSE Arca. Each fund will continuously offer and redeem its shares in blocks of 50,000 shares called Creation Units, which Authorized Participants may purchase and redeem directly from the funds. ProShare Capital Management LLC serves as the Trust's sponsor.