DUGProShares UltraShort Oil & Gas
DUG Fund Description
The ProShares UltraShort Oil & Gas provides 2x inverse exposure to a price-weighted index that tracks the performance of large US oil and gas companies.
DUG ETF.com Insight
[As of 12/31/13] DUG provides 2x leverage and inverse exposure to the Dow Jones U.S. Oil & Gas Index. The fund provides a unique play on a market-cap-weighted index of US energy
“at 95 bps, DUG is far costlier than its beta-1 cousin” companies—the same index that IYE, the iShares U.S. Energy ETF tracks. Keep in mind that the fund rebalances daily. As a result, compounding and path dependency lead to a lack of predictability in the fund’s long-term returns—especially when compared with something like IYE. However, at 95 bps, DUG is far costlier than its beta-1 cousin. Investors haven’t shied away from it though—DUG has nearly $60M in assets, with daily dollar volume north of $5M. Spreads are reasonable at 7 bps, and the fund earns a perfect score for block liquidity.
|Performance [as of 12/31/13]||1 Month||3 Month||YTD||1 Year||3 Years||5 Years||10 Years|
DUG Summary Data
A company that produces and manages ETFs.
The first date of a fund's operations, as documented by the issuer.
The organizational structure of the fund or ETN.
The net total annual fee a fund holder pays to the issuer.
The market value of total assets that a fund has accumulated and now manages on behalf of investors.
DUG Portfolio Data
A fund’s actual distributed cash flows over the past 12 months as a percent of its NAV
The upcoming date on which the fund trades without its upcoming dividend
DUG Index Data
Oil & Gas Index
This is the benchmark an ETF is desigend to track or replicate.
A set of rules that the underlying index provider follows to weight its constituent securities.
A set of rules that the underlying index provider follows to select its constituent securities.
This is the index that we have chosen as the best-in-class gauge for each segment's broad market.
DUG Fund Structure
“Yes” means the fund uses over the counter derivatives such as swaps and forwards
An indicator of whether or not a fund actively lends its portfolio holdings.
The division of securities lending revenue between the fund and the issuer.
The risk of default by the ETN counterparty.
The likelihood that an issuer will shut down a fund for business or regulatory reasons.
The multiple of the underlying index which the fund aims to deliver. For funds that reset, the leverage factor holds true only for the reset period, often just 1 day.
The time period at which the fund “trues up” its leverage factor. For funds that reset, the reset period–often just 1 day–is the length of time over which the fund delivers its leverage factor.
DUG Tax Exposures
The maximum long-term and short-term U.S. tax rates applicable to a realized capital gain.
The average capital gains paid out to shareholders in the past 36 months, measured as a percent of net asset value (NAV) at the time.
ETFs that are structured as commodities pools and classified as limited partnerships by the IRS will issue K-1 forms to holders.
The average number of shares traded during a 60 day period.
Average dollar value of shares traded over 60 calendar days.
Median number of shares traded over the past 45 trading days.
Median dollar value of shares traded over the past 45 trading days.
The difference between the highest price a market participant is willing to pay to buy an ETF and the lowest price at which a market participant is willing to sell an ETF, averaged over the past 60 days, as a percent.
The middle value in the ranked set of all premium/discount values over a 12-month period.
The greatest amount that the market price exceeded (premium) and fell below (discount) its fair value/net asset value (NAV) over a 12-month period.
This flags whether there is currently a systemic issue that has restricted the ability to create or redeem shares of the fund. This may be imposed by the fund's issuer, or by external circumstances.
The smallest block of ETF shares that an Authorized Participant can either create or redeem at net asset value (NAV) with the issuer in exchange for the underlying shares of the fund.
The median 45 day share volume divided by the creation unit size of the fund. The higher the number, the more likely that liquidity providers will trade the fund in size, or in odd lots.
The standard fee to create or redeem 1 creation unit of an ETF as a percentage of the dollar value of 1 creation unit.
The total number of net outstanding options contracts for an ETF.
The total market value of the assets that an ETF holds less fund expenses.
An estimate of liquidity for the underlying baskets of securities, scaled 1 to 5.