The Proshares Ultra Russell MidCap Value (UVU)
Profile:
Proshares Ultra Russell MidCap Value (UVU) 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 Russell MidCap Value Index. In other words, if this underlying index declines by 1% for the day, the NAV of UVU 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 UVU rises by 2% as well.
Inception Date: 02/20/07
Investment Strategy:
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 Russell MidCap Value 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:
| 0.75%
|
| Distribution and Service (12b-1) Fee:
| 0.00%
|
| Other Expenses:
| 1.69%
|
| Total Annual Fund Operating Expenses:
| 2.44%
|
| Fee Waivers / Reimbursements:
| -1.49%
|
| Total Net Annual Fund Operating Expenses:
| 0.95%
|
Top 10 Holdings: (As of February 27, 2009)
| Company
| Weight
|
| PG&E Corp.
| 1.51%
|
| American Electric Power
| 1.25%
|
| AON Corp.
| 1.18%
|
| Sempra Energy Corp.
| 1.15%
|
| Consolidated Edison Inc.
| 1.09%
|
| Progress Energy Inc.
| 1.02%
|
| Marsh and McLennan Cos. Inc.
| 1.02%
|
| Edison International
| 0.98%
|
| Spectra Energy Corp.
| 0.91%
|
| Safeway Inc.
| 0.90%
|
Reference:
Company Website: http://www.proshares.com
