ETF Watch: ProShares Debuts 3x Financials ETFs
By Heather Bell | July 10, 2012

Related ETFs: FAZ / FAS / SKOR / RRGR / FINU / FINZ

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THURSDAY, JULY 12

New ProShares Target Financials
ProShares rolled out a pair of triple-exposure ETFs that target the financial sector. The ProShares UltraPro Financials ETF (NYSEArca: FINU) and the ProShares UltraPro Short Financials ETF (NYSEArca: FINZ) provide 300 and -300 percent of the daily performance of the Dow Jones U.S. Financials Index. They will compete directly with the Direxion Daily Financial Bull 3x Shares (NYSEArca: FAS) and Daily Financial Bear 3x Shares (NYSEArca: FAZ); both pairs of financials ETFs carry annual expense ratios of 0.95 percent.

WEDNESDAY, JULY 11

AdvisorShares Debuts Trend-Following ETF
AdvisorShares introduced a multi-asset-class ETF that looks to shift between debt and equities depending on market trends. The AdvisorShares Global Alpha & Beta ETF (NYSEArca: RRGR) is actively managed by Roger Nusbaum of Your Source Financial and has a net annual expense ratio of 1.40 percent. The fund can invest in other funds and in individual securities in its efforts to outperform in bull markets and protect investors from loss in bear markets.

TUESDAY, JULY 10

US Commodity Funds Files For Currency ETF
United States Commodity Funds recently filed paperwork on a planned currency ETF. The futures-based U.S. Golden Currency Fund (NYSEArca: HARD) will invest in an equal-weighted basket of five non-U.S. currencies selected for the soundness of their countries’ economies. The fund's total expenses are projected to be 0.85 percent.

MONDAY, JULY 9

IndexIQ To Close SKOR

IndexIQ has announced it will close its two-year-old IQ South Korea Small Cap ETF (NYSEArca: SKOR) due to its failure to accumulate assets. At the time of the announcement, SKOR had about $6 million in assets. The fund is slated to cease trading on Aug. 17.