Rydex plans to launch a new set of leveraged ETFs on the AMEX Wednesday that will compete with ProShares' leveraged products. The WSJ reports that the new funds from Rydex will track the S&P 500 index, the S&P MidCap 400 index, and the Russell 2000 indexes. Rydex plans to undercut ProShares on expense ratios with the new funds, charging 70 bps compared with ProShares' 95 bps.  

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