BetaPro Management Inc.'s latest launch may once again cause U.S. investors to cast envious eyes northward to Canada. The firm has continued the rollout of its leveraged and short exchange-traded funds covering segments of the commodities market with the launch of two funds tied to the Dow Jones-AIG Grains Sub-Index on the Toronto Stock Exchange.

The Horizons BetaPro DJ-AIG Agricultural Grains Bull Plus ETF (HAU) aims to produce 200% of the daily returns of the underlying index, while the Horizons BetaPro DJ-AIG Agricultural Bear Plus ETF (HAD) is designed to capture 200% of the inverse of the daily returns of the index. The funds each carry a management fee of 1.15%.

The Horizon BetaPro family of leveraged and short commodity-oriented ETFs already includes funds linked to indexes covering crude oil, natural gas, gold and the mining industry. The latest launch offers investors extreme exposure to an index that was up roughly 63% over the preceding 12 months.

The DJ-AIG Grains sector includes corn, soybeans and wheat. Development in emerging markets and increasing interest in biofuels are helping to drive the growth of this sector, so an investor's opinions on what lies in store for both of those factors will likely influence which of the two funds he or she will buy.

However, for the time being, U.S. investors will have to wait for similar funds. ProFunds has a whole group of short and leveraged ETFs tracking commodities in registration, including funds that will track the DJ-AIG Commodity Index and some of its subindexes. There's no sign yet that those are close to launching.

Read our article covering the launch of the first BetaPro commodity ETFs in January here.