ProShares Double Euro ETF
The Proshares Ultra Euro ETF (Symbol:ULE) is one of the few leveraged Euro currency ETF available that gives double long exposure to movements of the Euro against the US Dollar. The ULD 2x long Euro ETF seeks to replicate double (2x) the daily performance of the Euro in U.S. Dollar terms (EUR/USD cross rate), before fees and expenses, as published in The Wall Street Journal's Money & Investing currencies charts section every day at 4 PM EST.
It is important to note that the ULE double long Euro ETF seeks to replicate the daily movement in the Euro and not over an extended period of time. Because the ULE ETF invests in various financial instruments (currency futures contracts, forward currency contracts, and option contracts) and because of the need to roll these contracts periodically, actual performance compared to the change in the price of the Euro may not be identical to a 2x move. Also, because of the leveraged nature of the ULE ETF, some online stock brokers may impose higher margin requirements for this type of Euro Exchange Traded Fund.
The ProShares Ultra Euro Currency ETF (ULE) vital stats:
Exchange: NYSE Arca
Expense Ratio: 0.95%
Dividend Distribution: None
NAV or AUM: ~$8 Million as of 12/31/2010
Inception Date: 11/24/2008
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