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The Proshares Ultra Telecommunications (LTL)

Profile:

Proshares Ultra Telecommunications (LTL) 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 US Select Telecommunications Index. In other words, if this underlying index declines by 1% for the day, the NAV of LTL 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 LTL rises by 2% as well.

Inception Date: 01/30/07

Fund Information

  • Fund Manager - ProShares ETFs
  • Inception Date - 03/25/2008
  • Exchange – NYSE Arca
  • Index Ticker – LTL
  • Intra-day NAV Ticker – LTL.IV
  • Expense Ratio - 0.95%

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 Dow Jones US Select Telecommunications 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: 2.08%
Total Annual Fund Operating Expenses: 2.83%
Fee Waivers / Reimbursements: -1.88%
Total Net Annual Fund Operating Expenses: 0.95%

Top 10 Holdings: (As of February 16, 2009)

Company Weight
AT&T Inc 20.46%
Verizon Communications 14.62%
Sprint Nextel Corp. 7.73%
Embarq Corp. 5.26%
Qwest Communications Int'l. 5.25%
Telephone and Data Systems 4.09%
MetroPCS Communications 3.90%
Windstream Corp. 3.89%
NII Holdings Inc. 3.75%
Centurytel Inc. 3.29%

Other Telecommunication ETFs

ETF Name Fund Manager Expense Ratio
iShares Dow Jones U.S. Telecommunications Sector Index Fund (IYZ)ishares0.48%
iShares S&P Global Telecommunications Sector Index Fund (IXP)ishares0.48%
Powershares Dynamic Telecommunications & Wireless Portfolio ETF (PTE)Invesco PowerShares0.60%
ProShares Ultra Telecommunications ETF (LTL)InvescoPoweshares0.95%
ProShares UltraShort Telecommunications ETF (TLL)ProShares ETFs0.95%
SPDR S&P International Telecommunications Sector ETF (IST)State Street Global Markets, LLC0.50%
Vanguard Telecommunication Services ETF (VOX)Vanguard Group, Inc.0.25%
WisdomTree International Communications Sector Fund (DGG)WisdomTree Investments, Inc.0.58%


Reference:

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

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