|
|
Proshares Ultra Financials (UYG) |
Suggest other news sources for this topic
WIKI ANALYSIS|
Error creating thumbnail: convert: unable to open image `/home/wikinvest/src_live_2/mediawiki/images/a/ad/Indices.png': No such file or directory @ blob.c/OpenBlob/2480. convert: unable to open file `/home/wikinvest/src_live_2/mediawiki/images/a/ad/Indices.png' @ png.c/ReadPNGImage/2889. convert: missing an image filename `/home/wikinvest/src_live_2/mediawiki/images/thumb/a/ad/Indices.png/40px-Indices.png' @ convert.c/ConvertImageCommand/2800. |
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 Financials (AMEX: UYG) is an exchange traded fund (ETF) that seeks to mimic the daily investment results, before fees and expenses, corresponding to twice the daily performance of the Dow Jones U.S. Financials Index. In other words, if this underlying index declines by 1% for the day, the NAV of UYG will more or less decline by 2%, before fees and expenses. In the same manner, if this underlying index rises by 1% for the day, the NAV of UYG rises by 2% as well.
Fund Information
- Fund Manager - ProShares ETFs
- Inception Date - 01/30/2007
- Exchange – NYSE Arca
- Index Ticker – UYG
- Intra-day NAV Ticker – UYG.IV
- Expense Ratio - 0.95%
- Inception Date: 01/30/07
Investment Strategy
The Dow Jones U.S. Financials Index measures the performance of the financials industry of the U.S. equity market. Component companies include banks; insurance companies and brokers; real estate companies, including real estate investment trusts (REITs), real estate holding and development companies, and real estate services companies; financial services companies, including asset managers, consumer finance companies, specialty finance companies, investment services providers, mortgage finance providers, corporate closed-end investment entities such as investment trusts and venture capital trusts; and non-corporate, open-ended investment instruments such as open-ended investment companies and funds, unit trusts, ETFs, currency funds and split capital trusts.[1]
The principal investment strategies of this fund include:
- investing in equity securities and financial instruments (including derivatives) that the fund managers believe will produce twice the daily return of the Dow Jones U.S. Financials Index.
- committing at least 80% of its net assets to equity securities or financial instruments that have similar economic characteristics contained in the Index.
- employing leveraged investment techniques or sampling techniques in seeking its investment objective.
- assets not invested in equity securities or financial instruments are invested in debt securities or money market instruments.
- concentrating its investments in a particular industry to approximately the same extent as the Index
Annual Fund Operating Expenses
| Investment Advisory Fee: | 0.95% |
| Distribution and Service (12b-1) Fee: | 0.00% |
| Other Expenses: | 0.29% |
| Total Annual Fund Operating Expenses: | 1.04% |
| Fee Waivers / Reimbursements: | -0.09% |
| Total Net Annual Fund Operating Expenses: | 0.95% |
Top 10 Holdings (As of July 23, 2010)[2]
| Company | Weight |
|---|---|
| J P Morgan Chase (JPM) | 8.13% |
| Bank of America (BAC) | 7.02% |
| Wells Fargo (WFC) | 6.90% |
| Citigroup (C) | 4.36% |
| Goldman Sachs Group (GS) | 3.26% |
| Berkshire Hathaway (BRK) | 3.13% |
| American Express Company (AXP) | 2.45% |
| US BANCORP DELAWARE COM | 2.33% |
| Visa (V) | 1.92% |
| Morgan Stanley (MS) | 1.76% |
Other Financial ETFs
References
| |||||||
