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Wednesday, November 03, 2010

Proshares to Offer Hedge Fund-Like ETF

News summary by MFWire's editors

Fundsters looking for a little alternative flavor in their ETF portfolios may want to check out IndexUniverse.com's article on Proshares [see profile].

The world’s biggest operator of inverse and leveraged exchange-traded funds has reportedly filed with the Securities and Exchange Commission to offer a hedge-fund replication ETF that’s linked to an index that seeks to maintain a high correlation with hedge fund beta.

ProShares' go-anywhere Hedge Replication ETF will invest long or short using the company's own ETFs and other ETF providers, as well as betting on stocks of public companies and derivatives, including swaps and forward contracts.

The new offering reportedly has stiff competition from other hedge-like products such as Index IQ’s IQ Hedge Multi-Strategy Tracker, and AdvisorShares' long-short Mars Hill Global Relative Value ETF.

The ProShares Hedge Replication ETF will have an expense ratio of 95 basis points. 

Edited by: Hung Tran

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