ProShares has announced that its two leveraged oil ETFs will adopt a new underlying index in a bid to make the products more resilient to future disruption in crude oil markets.
An NYSE Arca-listed thematic ETF providing long exposure to e-commerce companies while shorting traditional bricks-and-mortar firms has soared in recent months as the Covid-19 pandemic forces Main Street shoppers online. The ProShares Long Online/Short Stores ETF (CLIX US) is up 44.4% year-to-date (as of market close on Friday 15 May 2020), compared to a -10.6% loss for the S&P 500 over the same period.
A proposal by a cabal of dominant ETF issuers that calls on exchanges to adopt a new naming convention for exchange-traded products has prompted a backlash from smaller, innovative rivals who claim the move is anti-competitive.
By Emily Doak, Managing Director of ETF Research for Charles Schwab Investment Advisory.
The record volatility of 2020 has been accompanied by a higher than usual number of exchange-traded product closures, especially among leveraged and inverse products.
By Kieran Kirwan, Director, Investment Strategy at ProShares.
Through November 15, 2019, 92% of the S&P 500 constituents have announced earnings, and investors have been paying close attention. Most companies that have reported thus far have exceeded estimates, which had in many instances been guided lower. On the surface, this is, of course, positive news. But when looking for year-over-year growth, a different story begins to emerge.
ProShares has expanded its suite of dividend growth ETFs with the launch of two new funds on Cboe BZX: the ProShares S&P Technology Dividend Aristocrats ETF (TDV US), which focuses on dividend growers within the US technology sector; and the ProShares Russell US Dividend Growers ETF (TMDV US), which explores the broad US stock market. Michael Sapir, co-founder and CEO of ProShare Advisors, commented, “Consistent dividend growth may be one of the best indicators of a company’s health. We are committed to offering this powerful strategy across a broad array of market caps, geographies and sectors.”
Two US-listed ETFs providing exposure to Treasury Inflation-Protected Securities (TIPS) are enjoying significant demand as investors position their portfolios to withstand the effects of future interest rate cuts.
The ProShares Decline of the Retail Store ETF (EMTY US) is the top-performing US-listed equity ETF over the past month (as of 20 August 2019), posting a gain of 12.0%. The fund, which provides inverse exposure to traditional bricks-and-mortar retailers in the US, has profited from ongoing problems in the sector including the effects of trade tariffs, slowing global growth, and the structural trend favouring online competitors.
Krane Funds Advisors, best known for its KraneShares-branded suite of China-focused ETFs, has broadened its capabilities beyond the Asian giant with the launch of two smart beta ETFs on NYSE Arca providing exposure to domestic US stocks with sustainable dividends.
ProShares, a US-based ETF sponsor specializing in inverse and leveraged products, has announced the upcoming closure of three of its ETFs: GDXX, GDXS and WYDE.