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

The Proshares Ultra Basic Materials (UYM)

Profile:

Proshares Ultra Basic Materials (UYM) 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 Basic Materials Index. In other words, if this underlying index declines by 1% for the day, the NAV of UYM 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 UYM rises by 2% as well.

Inception Date: 01/30/07

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 Dow Jones US Basic Materials 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

Top 10 Holdings: (As of February 12, 2009)

Reference:

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