Leveraged Financial-Sector ETFs: Three Times The Fun In Bank Stocks

July 11, 2012

ProShares plans to compete against a bull-and-bear of triple-exposure Direxion leveraged ETFs focused on financials by rolling out its own versions on Thursday, July 12, according to a blog post on Barron’s.

The ProShares UltraPro Financials ETF and the ProShares UltraPro Short Financials ETF will trade with the tickers FINU and FINZ, respectively, and will each have an annual expense ratio of 0.95 percent, according to Brendan Conway, a blogger at Barron’s who focuses on ETFs.

The new funds’ expense ratios will match the price of the competing Direxion Daily Financial Bull 3x Shares (NYSEArca: FAS) and the Direxion Daily Financial Bear 3x Shares (NYSEArca: FAZ), according to Conway, who expressed surprise ProShares wasn’t going to compete on price.

For the full story, visit Barrons.com.

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