ULEProShares Ultra Euro
ULE Fund Description
The ProShares Ultra Euro ETF provides 2x the daily performance of the euro spot price against the US dollar.
ULE Factset Analytics Insight
ULE offers 2x leveraged exposure to the USD/EUR cross. Still, it isn't designed to be a long-term investment. Rather, ULE is a short-term trading vehicle that's rebalanced daily. The fund's long-term returns may differ significantly from the performance of the euro against the dollar—a result of the effects of path dependency and compounding—and the fund's high fee takes a bite over long holding periods. Also, keep in mind that ULE references the USD/EUR cross as cited by the Wall Street Journal—a value that may differ from other quoting sources. It gets this exposure using futures contracts, and as a result, distributes a K-1 during tax time. With few assets, it's tough to call ULE an investor favorite. Volume is weak but spreads are manageable for small orders, so it can be traded fairly with a bit of care.
ULE CHARTS AND PERFORMANCE
ULE Factset Analytics Block Liquidity
This measurement shows how easy it is to trade a $1 million USD block of ULE. ULE is rated a 5 out of 5.