The following is from ProShares...
BETHESDA, Md.--(BUSINESS WIRE)--ProShares, a premier provider of alternative exchange traded funds (ETFs), announced today the launch of ProShares Ultra Australian Dollar (NYSE: GDAY) and ProShares UltraShort Australian Dollar (NYSE: CROC), the first ETFs in the U.S. providing magnified or inverse exposure to the Australian dollar. The ETFs list on NYSE Arca today.“The Australian dollar is one of the world’s most actively traded currencies”
- GDAY seeks to provide 2x the daily performance of the U.S. dollar price of the Australian dollar, before fees and expenses.
- CROC seeks to provide -2x the daily performance of the U.S. dollar price of the Australian dollar, before fees and expenses.
“The Australian dollar is one of the world’s most actively traded currencies,” said Michael L. Sapir, Chairman and CEO of ProShare Capital Management, the sponsor of the funds. “We are pleased to offer investors additional ways to manage risk or potentially take advantage of moves in this widely followed currency market.”
The introduction of GDAY and CROC brings ProShares’ popular lineup of geared currency ETFs to seven. The firm’s existing geared currency ETFs on the euro and the yen have garnered more than $1 billion1 of assets since launching less than four years ago.
ProShares offers the nation's largest lineup of alternative ETFs,2 which includes the world’s largest family of geared ETFs,3 with assets of nearly $22 billion.
New currency ETFs:
|Ultra Australian Dollar||GDAY||AUD/USD cross rate||2x|
|UltraShort Australian Dollar||CROC||AUD/USD cross rate||-2x|
*Before fees and expenses.