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Proshares Ultra Euro (ULE) |
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Jan 24
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The Euro closed up Friday`s session at 136.13, and looks poised to make a run up to test the 140 level in February. I, among many, was thinking the Euro would next test the 125 level, and things(...)Read the rest of Euro ETFs: Euro’s Reversal...
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Oct 12
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FXE (Rydex Euro ETF) ULE (ProShares Ultra @ X Euro ETF). Just as the Fed's minutes were announced the euro rallied sharply on the belief more Fed accommodation is coming along with a reinvention of what inflation is.
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Sep 23
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FXE (Rydex Euro Currency ETF) and ULE (ProShares Ultra Euro Currency ETF) are both reflecting investor aversion the U.S. Dollar. But, the euro has plenty of problems of its own perhaps being just the best house in a bad neighborhood for now.
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more ▼WIKI ANALYSIS
WIKI ANALYSIS
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This article describes an exchange traded fund that tracks an index, commodity, currency, or varied basket of securites. View articles referencing this fund. |
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
Fund Information
- Fund Manager - ProShares ETFs
- Inception Date - 11/24/2008
- Exchange – NYSE Arca
- Index Ticker – ULE
- Intra-day NAV Ticker – ULE.IV
- Expense Ratio - 0.95%
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:
| Total Net Annual Fund Operating Expenses: | 0.95% |
Top Holdings: (As of March 4, 2009)
| Company | Weight |
|---|---|
| EUR/USD Forwards | Notional Value of $ 9,544,921.89 |
| Cash / Net other Assets | Market Value of $ 4,772,486.80 |
Other Currency ETFs
Reference:
Company Website: http://www.proshares.com
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