ProShares, begun trading two new 3x Leveraged Long and Inverse Oil ETNs, the ProShares UltraPro 3x Crude Oil ETF (NyseArca: OILU), and the ProShares UltraPro 3x Short Crude Oil ETF (NyseArca: OILD) on Monday, March 27, 2017. Here is a synopsis of the new ETNs:
1.
FUND INFORMATION: CLOSED 18/03/2020
| Symbol: OILU | Exchange: NYSE ARCA |
| Name: ProShares UltraPro 3x Crude Oil ETF | Net Expense Ratio: 0.95% |
FUND OBJECTIVE:
The ProShares UltraPro 3x Crude Oil ETF seeks daily investment results, before fees and expenses, that correspond to three times (3x) the daily performance of the Bloomberg WTI Crude Oil Subindex.
2.
FUND INFORMATION: CLOSED 18/03/2020
| Symbol: OILD | Exchange: NYSE ARCA |
| Name: ProShares UltraPro 3x Short Crude Oil ETF | Net Expense Ratio: 0.95% |
FUND OBJECTIVE:
The ProShares UltraPro 3x Short Crude Oil ETF seeks daily investment results, before fees and expenses, that correspond to three times the inverse (-3x) of the daily performance of the Bloomberg WTI Crude Oil Subindex.
REFERENCE INDEX:
The Bloomberg WTI Crude Oil Subindex, a subindex of the Bloomberg Commodity Index, is intended to reflect the performance of crude oil as measured by the price of futures contracts of West Texas Intermediate sweet, light crude oil. The performance of the crude oil futures market is normally very different than the performance of the physical crude oil market.
It is a “rolling index,” which means that it does not take physical possession of any commodities. The roll occurs over a period of 5 business days in certain months according to a pre-determined schedule, generally beginning on the 5th business day of the month and ending on the ninth business day.
Each day, approximately 20% of each rolling futures position that is included in the month’s roll is rolled, increasing from 0% to 20%, 40%, 60%, 80% and finally 100%. The Bloomberg WTI Crude Oil Subindex will reflect the performance of its underlying crude oil futures contracts, including the impact of rolling, without regard to income earned on cash positions.
Index constituents (03/28/2017):
| Crude Oil Futures, 05/2017 | 100.00% |
Useful Links:
OILU Home Page
OILD Home Page
Category: Commodities> Energy> WTIC Oil