This article describes an exchange traded fund that tracks an index, commodity, currency, or varied basket of securites. View articles referencing this fund.

 

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Marco Villacorta

ULE AT A GLANCE

 

 

 

 

 

 

Proshares Ultra Euro (ULE) is an Exchange Traded Fund (ETF) that seeks to mimic the daily performance of the results, before fees and expenses, corresponding to twice the daily performance of the Euro spot price against the US Dollar. It uses the 4:00 PM (EST) Euro exchange rate, expressed in terms of USD/EUR, provided by Reuters as the basis for the underlying benchmark. In other words, if the USD/EUR declines by 1% for the day, the NAV of ULE will more or less decline by 2%, before fees and expenses. In the same manner, if it rises by 1% for the day, the NAV of ULE rises by 2% as well.

Inception Date: 11/24/08

Investment Strategy:

The principal investment strategies of this fund include:

• investing in financial instruments (swaps, forwards, futures, and options) that the sponsors believe will produce twice the daily return of the EUR/USD.
• assets not invested in financial instruments are invested in cash and / or US Treasury Securities or other high credit quality, short-term, fixed-income securities (e.g. money market funds, bank deposits, bank money market accounts, certain variable rate-demand notes, and repurchase agreements collateralized by government securities, whether denominated in USD or EUR) that will serve as collateral for the financial instruments.

Annual Fund Operating Expenses:

Top Holdings: (As of March 4, 2009)

Reference:

Company Website: http://www.proshares.com