Ben Fulton is back, and he's joined a big ETF shop.

Michael Sapir, CEO of ProShares [profile], confirms that Fulton has joined the Bethesda, Maryland-based firm as managing director overseeing ProShares' tactical products. That includes more than $28 billion in assets across the firm's leveraged, inverse, and volatility ETFs and mutual funds.

Michael Sapir ProShares CEO

Fulton spent the last five years leading his own ETF startup, Elkhorn Capital Group [profile]. In April the Wheaton, Illinois-based shop shut down two of its ETFs and found a new home for two others after an acquisition deal fell through. At the time, Fulton insisted to MFWire that he would be staying in the ETF industry.

Now Sapir praises Fulton for his "leadership capabilities and the depth and breadth of his experience in the ETF industry." Fulton, for his part, says that he has "always admired ProShares."

Fulton, an alumnus of Taylor University, spent eight years at another big ETF shop, Powershares, before starting Elkhorn. Before PowerShares he worked at Claymore, Nuveen, and Nike Securities. 

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