Proshares的各类做空型ETF基金

梁山石燕

梁山石燕
苦心人,天不负，卧薪尝胆，三千越甲可吞吴。要不是我自己为自己建立纪念碑，这纪念碑，它从何而来？
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Leverage has become a dirty word in the market. Over-leveraged hedge funds and banks have collapsed under the weight of their bad bets, and investors everywhere have learned to avoid any company that has the leverage taint. It's seems, then, that the timing couldn't be worse for an ETF company to release a new crop of leveraged ETFs, but Direxion pushed ahead with its Novemeber offerings eight of triple-leveraged long or short return ETFs.

What's surprising is the funds have turned out to be extremely popular so far. For example, the trading volume for BGU was 19063 on 11/5 and then quickly jumped up huge to 11.412m shares on 11/20, a whopping 600 fold volume hike in a matter of 11 trading days (I checked it out with a few old timers and none of them witnessed anything even close to it).

The new triple leveraged Direxion funds:

* (BGU) Bull 3x Shares Large Cap
* (TNA) Bull 3x Shares Small Cap
* (ERX) Bull 3x Shares Energy
* (FAS) Bull 3x Shares Financial
　　－－－－－－－－－－－－－－－－－
* (BGZ) Bear 3x Shares Large Cap
* (TZA) Bear 3x Shares Small Cap
* (ERY) Bear 3x Shares Energy
* (FAZ) Bear 3x Shares Financial
These 3 beta ETFs are created for pros, sophisticated investors and active ST/DTers to hedge or leverage their trading power. Obviously, they are not made for the faint of heart due to the extreme price volatility.



Proshares的各类做空型ETF基金
摩根士丹利新兴市场指数(MSCI Emerging Markets Index). MSCI Emerging Markets Index 是一种自由浮动调整的市场资本化指数，包含25个新兴市场国家中最大和最具流通性企业的800多种领先证券。该指数涉及的国家包括一些当今发展最快的全球性经济体，这使得该指数成为了许多交易战略中的一个重要工具。
ANYbody know how to see MSCI???

Stock   Stock    Option    Expiration   Option Oct-24 Oct-23 Oct-22 Oct-21 Oct-20    Jump   
1 EEV   $310 Call   Nov-08 EYGKX $12 $4.70 $2.70 $0.05 $0.05 240
1 EEV   $290 Call   Nov-08 EYGKV $14.20 $12 $7.80 $0.35 $0.20 71
1 EEV   $280 Call   Nov-08 EYGKP $16.30 $11 $9.40 $1.15 $0.25 65.2
1 EEV   $300 Call   Dec-08 EYGLW $27.70 $13.40 $13.70 $1 $1 27.7



以下内容全部为转贴.

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http://ptsh.blog.hexun.com/17981725_d.html

“在90年代的牛市中，投资似乎很简单。但是如今，情况变得不一样了。很多投资者感到自己只能按部就班，没办法很快速实现自己的想法。对那些想操纵市场、久经沙场的投资者以及专业投资人来说，重要的是找到与众不同的方式。他们希望能够找到一种投资策略，可以使他们超越传统，并拥有能够调节策略的能力。显然，Profunds是适合之选。”Profunds 集团在其网站上的“自我宣传”听起来相当吸引人。

　　11月8日，国内媒体集体关注的一个话题便是：随着Profunds集团最新推出的UltraShort FTSE/Xinhua China 25 ProShares(AMEX：FXP，以下简称“FXP”)在美国交易所挂牌，美国的投资者开始通过这个ETF产品，做空中国。

　　这个话题值得讨论的意义在于，FXP的推出，让境外普通投资者也可以像机构投资者和对冲基金们一样，做空中国。

　　“预计很多投资者对能够通过简单易行的方式做空中国股市有强烈的兴趣，”Profunds集团旗下专门提供做空ETF产品的Proshares主席兼CEO Michael Sapir说，新华富时25指数过去5年增长了600%，而目前已经出现了大量有关中国泡沫可能性的讨论。

　　与FXP一同推出的还有一只做空日本股市的ETF，即UltraShort MSCI Japan(AMEX：EWV)。

　　做空玩家？

　　即便是在全球ETF行业内，Proshares 基金都显得有些特立独行。

　　Profunds集团从1997年就开始通过复杂的投资策略，以放大或者获得反向投资效应。根据该公司年报，目前，Profunds集团所管理的资产总规模为168亿美元，其中纯粹做空放大型的Proshares基金系列占比已经超过一半，换句话说，Profunds集团已经是一个善于做空的ETF纯提供商。

　　根据理柏的分类，大部分Profunds的基金属于加强型指数基金。换句话说，“我们把指数的概念运用得更进一步。”即除了跟踪大量知名市场指数的波动之外，Profunds还提供能够放大所跟踪指数每日变动的基金，以及与所跟踪指数能够反向变动的基金。

　　而Profunds旗下Proshares基金公司则宣称自己是一个“不循规蹈矩的公司”。紧盯最流行指数，专司做空，而且是不同方向、不同比例的做空，是Proshares的强项。该公司旗下的两大类主要做空ETF产品包括普通的同比例做空产品，以及有2倍杠杆的做空产品。

　　换句话说，Proshares是专门提供做空以及放大型ETF的产品系列，主要追踪的都是最受欢迎的市场指数，比如标准普尔500指数、新华富时、MSCI、道琼斯指数等等。该系列自从2006年6月份开始推出，运作一年来似乎非常成功。

　　而实际上，从2007年10月25日开始，Proshares才正式推出全球性的做空ETF，也是美国唯一的做空放大型ETF系列，在此之前，该公司推出的都是跟踪美国本地市场的指数ETF。

　　不足一个月的时间，Proshares一下子推出了6只全球做空ETF产品，似乎显得有些疯狂。

　　这6只产品包括做空MSCI EAFE指数(反向收益)、做空放大MSCI EAFE指数(反向双倍收益)、做空放大MSCI新兴市场指数(反向双倍收益)、做空放大MSCI日本指数(反向双倍收益)和做空放大新华富时25中国指数(反向双倍收益)。

　　至此，该系列ETF囊括的资金规模已经超过了90亿美元，共有58只做空放大型ETF。

　　用Michael Sapir的话说，做空策略通常是机构投资者和对冲基金采用的投资策略，但推出做空ETF产品Proshares系列，可以让更多投资者享受做空的巨大收益。

　　2倍杠杆

　　值得注意的是，与传统指数基金不同，FXP在扣除管理费和开支以外，寻求两倍于基准指数的当日表现。

　　比如，如果新华富时25指数某天上涨了1%，那么FXP的资产净值就应该下跌2%，当然，如果某天新华富时25指数跌了1%，那么基金的净值增长2%。

　　为什么反向放大型ETF能够使投资者获得双倍收益或损失呢？

实际上是因为每只这种产品都使用了2倍的杠杆。对很多对冲基金来说，使用杠杆并不罕见，Proshares只是把杠杆策略运用到了ETF之中，对那些“急于求成”的投资者来说，非常适合。

　　举例来看，根据2007年5月31日Proshares公布的年报，其超短标普500指数ETF，就是通过股票、金融工具或者二者兼用，以达到与标普500指数相反的2倍投资效果。当时，该ETF的股票仓位为零，而掉期协议占了总资产的-193%，指数期权合约占了-7%，合共约为资产的-200%。

　　除了放大效应之外，购买这种做空ETF的好处就在于，投资者不需要开立保证金户口就能进行做空，换句话说，买做空的ETF产品已经具有了做空股票或者做空市场的效应。

　　更加重要的是，相对于真正的做空个股或者做空指数来说，通过ETF做空较为安全，因为理论上说，做空个股或者市场的损失可以是无限的，需要不断追加保证金直至平仓，但做空ETF则最多是价格变为零，即损失现有投资的资金，无需追加资金。

　　股权分置改革以来，中国股市连续大涨，带动香港股市异常火爆，但近日却出现较大幅度的连续调整。股市的剧烈波动为该ETF产品增加了不少卖点。

　　该公司宣称，即便对那些长期看好中国股市的投资者来说，也不妨通过这个做空ETF在短期的市场波动中赚一把。

　　由于新华富时25指数包括了在香港上市的25只最大、流动性最好的中国股票，包括H股和红筹股，如中移动(0941.HK)、中石油(0857.HK)、工商银行(1939.HK)等，因此业界开始担心通过做空新华富时25指数而做空中国股票的FXP，是否将对阴霾不断的H股市场，甚至A股市场带来更大压力？

　　对此，西京投资管理香港有限公司董事总经理刘央表示，不是很担心该产品对中国市场的影响。理由是，11月9日，该ETF总规模还只有1190万美元，规模相当小，影响力不大，根本不足以对整个市场造成太大影响。

　　“而且，选择新华富时25指数做跟踪，也不特别具有代表性，因为只有25只股票，完全不能代表中国市场。”刘央说，只是在最近市场情况不太好的时候，这种带有投机色彩的产品出现，可能会对市场气氛有些影响。

　　同时，刘央认为，Profunds集团现在推出做空中国的ETF产品，也说明了境外投资者已经意识到做空获利的市场机遇.

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实际上PROFUNDS推出的是做空中国股市2倍收益的ETF

http://www.profunds.com/ProFundsProfiles/FundID_818/UltraShort_China/Profile.fs


ProFunds introduces two new ways to act on China's next move.

Chinese markets have provided staggering returns in recent years, far outpacing both the S&P 500 Index as well as the MSCI EAFE Index over the past three years.

Which side are you on?

Opinions are divided on the future of Chinese stocks. Here's what some leading analysts are saying.



Now, two simple ways to act on your view

Now you can easily act on your beliefs about the direction of Chinese markets with two new ProFunds.



The Bank of New York China Select Index is a free-float adjusted/modified capitalization-weighted index. The Index is designed to track the performance of a basket of Chinese companies who have Depositary Receipts that trade on a U.S exchange or on the NASDAQ.

As with all ProFunds, these new funds offer you the flexibility to shift your investments as you see market conditions changing. There are no limits on the number of exchanges among the more than 60 ProFunds—but remember, exchanges may have tax consequences.

Act on your view about China today.

A few words about risk
Investing in these ProFunds involves certain risks, specifically, market, correlation, credit, exchange rate, foreign currency, foreign money markets, liquidity, aggressive investment technique, non-diversification, repurchase agreement, and inverse correlation risk (in the UltraShort China ProFund). These funds do not constitute a complete investment program and they may not be suitable for all investors.

These ProFunds are not diversified investments. Narrowly focused investments, including single-country funds, typically exhibit higher volatility. International investments may also involve risk from unfavorable fluctuation in currency values, differences in generally accepted accounting principles, and economic or political instability.





Vital Statistics

Class Ticker CUSIP Fund Number
Investor UHPIX 74318X-737 169
Service UHPSX 74318X-729 199

Inception Date for all share classes is ––


NAV
as of 3/28/2008

Class NAV % Change $ Change
Investor $36.34 -4.57% -$1.74
Service $36.30 -4.60% -$1.75
At a GlanceUltraShort China ProFund provides leveraged exposure to the The Bank of New York China Select Index. ObjectiveSeeks daily investment results, before fees and expenses, that correspond to twice (200%) the inverse (opposite) of the daily performance of the Bank of New York China Select ADR Index.

There is no guarantee that any ProFund will achieve its investment objective. Investment return and principal value will vary and shares may be worth more or less at redemption than at original purchase. See the prospectus for more information.

This ProFund routinely employs leveraged investment techniques that magnify gains and losses and result in greater volatility in value. This ProFund should experience losses when benchmark indexes rise.

Investing in ProFunds involves certain risks, including active investor risk, counterparty risk, credit risk, early close/trading halt risk, portfolio turnover risk, market risk equity risk, correlation risk, leverage risk, aggressive investment technique risk, geographic concentration risk, and volatility risk.

An investment in this ProFund entails the special risks of international investing, including currency exchange fluctuation, government regulations, and the potential for political and economic instability.



Returns (as of 12/31/2007)
YTD (as of 3/28/2008) 21.13%
Average Annual One Year ––
Average Annual Three Year ––
Average Annual Five Year ––
Average Annual Since Inception ––
Cumulative Since Inception ––
Gross Expense Ratio ––
Net Expense Ratio ––



View Performance Chart

Fund Statistics
Limits On Exchanges None
Minimum Investment
Individual Investor $15,000
Financial Professionals $5,000




Investing in ProFunds involves certain risks, including in all or some cases, leverage, liquidity, concentration, non-diversification, foreign investment, foreign currency, high yield, interest rate, credit, market, correlation, aggressive investment technique and repurchase agreement risks. Moreover, there is no guarantee that any ProFund will achieve its investment objective. These risks can increase volatility and decrease performance. All ProFunds permit active investment strategies which can decrease performance and increase expenses.



http://www.proshares.com/funds/performance

Performance

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Performance | NAV vs. Closing Price | Understanding Long-Term Performance

The performance quoted represents past performance and does not guarantee future results. Investment return and principal value of an investment will fluctuate so that an investor's shares, when sold or redeemed, may be worth more or less than the original cost. Current performance may be lower or higher than the performance quoted.

Short MarketCap Fund Ticker Inception Date Month-end Performance Quarter-end Performance Gross Expense Ratio (%) Net Expense with waiver (%)¹
NAV Total Returns (%) as of 2/29/2008 Market Price Returns (%) as of 2/29/2008 NAV Total Returns (%) as of 12/31/2007 Market Price Returns (%) as of 12/31/2007
1 Year Since Incept* 1 Year Since Incept* 1 Year Since Incept* 1 Year Since Incept*
Short QQQ PSQ 6/19/06 4.82 -2.15 3.65 -2.74 -11.34 -12.92 -11.45 -12.95 1.14 0.95
Short Dow30 DOG 6/19/06 3.6 -2.11 2.91 -2.45 -1.5 -7.05 -1.35 -6.99 1.21 0.95
Short S&P500 SH 6/19/06 9.56 0.68 8.8 0.41 1.31 -5.42 1.34 -5.37 1.08 0.95
Short MidCap400 MYY 6/19/06 10.53 0.2 10.31 0.15 -1.24 -5.05 -1.41 -5.08 1.07 0.95
Short SmallCap600 SBB 1/23/07 14.82 12.67 15.08 12.48 - 5.33 - 5.02 1.89 0.95
Short Russell2000 RWM 1/23/07 17.61 15.43 17.51 15.17 - 5.34 - 5.47 1.70 0.95
UltraShort QQQ QID 7/11/06 1.47 -12.79 0.88 -13.23 -27.18 -31.6 -27.29 -31.58 0.98 0.95
UltraShort Dow30 DXD 7/11/06 0.46 -8.45 0.03 -8.46 -8.94 -17.57 -8.74 -17.51 1.05 0.95
UltraShort S&P500 SDS 7/11/06 12.02 -2.09 11.7 -2.23 -3.94 -13.67 -3.71 -13.33 0.96 0.95
UltraShort MidCap400 MZZ 7/11/06 13.37 -2.4 12.39 -3.11 -8.99 -12.13 -8.67 -11.85 1.05 0.95
UltraShort SmallCap600 SDD 1/23/07 21.17 16.87 21.54 16.41 - 2.84 - 2.7 1.59 0.95
UltraShort Russell2000 TWM 1/23/07 26.14 21.8 24.58 20.63 - 2.24 - 2.6 1.08 0.95
Short Style Fund Ticker Inception Date Month-end Performance Quarter-end Performance Gross Expense Ratio (%) Net Expense with waiver (%)¹
NAV Total Returns (%) as of 2/29/2008 Market Price Returns (%) as of 2/29/2008 NAV Total Returns (%) as of 12/31/2007 Market Price Returns (%) as of 12/31/2007
1 Year Since Incept* 1 Year Since Incept* 1 Year Since Incept* 1 Year Since Incept*
UltraShort Russell1000 Value SJF 2/20/07 21.7 29.85 21.76 29.72 - 11.93 - 12.3 2.37 0.95
UltraShort Russell1000 Growth SFK 2/20/07 3.89 11.39 4.09 11.08 - -8.09 - -8.19 2.36 0.95
UltraShort Russell MidCap Value SJL 2/20/07 33.27 40.74 42.44 41.23 - 22.74 - 22.38 2.37 0.95
UltraShort Russell MidCap Growth SDK 2/20/07 7.43 14.63 7.21 14.38 - -3.96 - -4.74 1.99 0.95
UltraShort Russell2000 Value SJH 2/20/07 39.99 50.45 39.21 49.62 - 32.17 - 32.85 2.12 0.95
UltraShort Russell2000 Growth SKK 2/20/07 15.08 23.79 15.84 24.12 - -2.48 - -2.7 1.78 0.95
Short Sector Fund Ticker Inception Date Month-end Performance Quarter-end Performance Gross Expense Ratio (%) Net Expense with waiver (%)¹
NAV Total Returns (%) as of 2/29/2008 Market Price Returns (%) as of 2/29/2008 NAV Total Returns (%) as of 12/31/2007 Market Price Returns (%) as of 12/31/2007
1 Year Since Incept* 1 Year Since Incept* 1 Year Since Incept* 1 Year Since Incept*
UltraShort Basic Materials SMN 1/30/07 -38.59 -39.7 -37.98 -39.61 - -40.21 - -40 2.00 0.95
UltraShort Consumer Goods SZK 1/30/07 4.32 6.76 4.61 6.89 - -6.54 - -6.57 1.91 0.95
UltraShort Consumer Services SCC 1/30/07 40 40.84 40.91 41 - 30.02 - 30.27 1.94 0.95
UltraShort Financials SKF 1/30/07 65.32 66.93 64.7 67.1 - 46 - 45.96 1.30 0.95
UltraShort Health Care RXD 1/30/07 8.95 12.62 8.72 12.94 - -1.96 - -2.54 1.91 0.95
UltraShort Industrials SIJ 1/30/07 -2.35 -3.13 -1.8 -3.22 - -16.7 - -16.48 1.24 0.95
UltraShort Oil & Gas DUG 1/30/07 -46.36 -42.18 -46.68 -43.42 - -47.41 - -47.51 2.00 0.95
UltraShort Real Estate SRS 1/30/07 55.1 57.3 52.64 56.57 - 59.94 - 60.38 1.59 0.95
UltraShort Semiconductors SSG 1/30/07 20.17 17 22.55 16.55 - -15.58 - -16.23 1.94 0.95
UltraShort Technology REW 1/30/07 4.04 9.11 2.74 7.12 - -20.56 - -19.52 1.95 0.95
UltraShort Utilities SDP 1/30/07 0.37 -7.73 -0.3 -8.07 - -25.53 - -25.56 2.00 0.95
Short International Fund Ticker Inception Date Month-end Performance Quarter-end Performance Gross Expense Ratio (%) Net Expense with waiver (%)¹
NAV Total Returns (%) as of 2/29/2008 Market Price Returns (%) as of 2/29/2008 NAV Total Returns (%) as of 12/31/2007 Market Price Returns (%) as of 12/31/2007
1 Year Since Incept* 1 Year Since Incept* 1 Year Since Incept* 1 Year Since Incept*
Short MSCI EAFE EFZ 10/23/07 - 14.08 - 13.74 - 3.98 - 3.74 1.22 0.95
Short MSCI Emerging Markets EUM 10/30/07 - 10.68 - 10.45 - 4.35 - 4.1 1.22 0.95
UltraShort MSCI EAFE EFU 10/23/07 - 25.86 - 25.21 - 6.2 - 6.04 1.22 0.95
UltraShort MSCI Emerging Markets EEV 10/30/07 - 14.94 - 11.84 - 4.81 - 4.86 1.22 0.95
UltraShort FTSE/Xinhua China 25 FXP 11/6/07 - 29.91 - 28.4 - 10.08 - 10.28 1.22 0.95
UltraShort MSCI Japan EWV 11/6/07 - 19.81 - 20.11 - 8.43 - 9.5 1.32 0.95
Ultra MarketCap Fund Ticker Inception Date Month-end Performance Quarter-end Performance Gross Expense Ratio (%) Net Expense with waiver (%)¹
NAV Total Returns (%) as of 2/29/2008 Market Price Returns (%) as of 2/29/2008 NAV Total Returns (%) as of 12/31/2007 Market Price Returns (%) as of 12/31/2007
1 Year Since Incept* 1 Year Since Incept* 1 Year Since Incept* 1 Year Since Incept*
Ultra QQQ QLD 6/19/06 -10.7 5.39 -10.18 5.77 28.68 35.15 28.77 35.17 1.07 0.95
Ultra Dow30 DDM 6/19/06 -4.31 10.28 -4.4 10.21 8.71 23.94 8.6 24.13 1.22 0.95
Ultra S&P500 SSO 6/19/06 -15.43 3.64 -14.62 4.15 1.66 19 1.04 18.65 1.11 0.95
Ultra MidCap400 MVV 6/19/06 -17.64 2.72 -17.72 2.91 6.37 16.06 4.86 14.91 1.34 0.95
Ultra SmallCap600 SAA 1/23/07 -26.24 -22.78 -25.7 -22.35 - -9.67 - -9.77 2.48 0.95
Ultra Russell2000 UWM 1/23/07 -31.06 -27.8 -30.9 -27.56 - -11.45 - -11.58 2.50 0.95
Ultra Style Fund Ticker Inception Date Month-end Performance Quarter-end Performance Gross Expense Ratio (%) Net Expense with waiver (%)¹
NAV Total Returns (%) as of 2/29/2008 Market Price Returns (%) as of 2/29/2008 NAV Total Returns (%) as of 12/31/2007 Market Price Returns (%) as of 12/31/2007
1 Year Since Incept* 1 Year Since Incept* 1 Year Since Incept* 1 Year Since Incept*
Ultra Russell1000 Value UVG 2/20/07 -22.86 -27.78 -22.51 -27.37 - -13.71 - -13.73 2.26 0.95
Ultra Russell1000 Growth UKF 2/20/07 -7.94 -14.27 -7.87 -14.27 - 6.35 - 6.23 2.30 0.95
Ultra Russell MidCap Value UVU 2/20/07 -30.07 -33.76 -30.18 -33.53 - -21.56 - -21.69 2.21 0.95
Ultra Russell MidCap Growth UKW 2/20/07 -13.51 -18.98 -13.65 -19.1 - 0.05 - 0.6 2.23 0.95
Ultra Russell2000 Value UVT 2/20/07 -38.4 -42.66 -38.74 -43.01 - -31.84 - -31.55 2.64 0.95
Ultra Russell2000 Growth UKK 2/20/07 -22.93 -28.46 -22.63 -27.96 - -5.83 - -5.47 2.60 0.95
Ultra Sector Fund Ticker Inception Date Month-end Performance Quarter-end Performance Gross Expense Ratio (%) Net Expense with waiver (%)¹
NAV Total Returns (%) as of 2/29/2008 Market Price Returns (%) as of 2/29/2008 NAV Total Returns (%) as of 12/31/2007 Market Price Returns (%) as of 12/31/2007
1 Year Since Incept* 1 Year Since Incept* 1 Year Since Incept* 1 Year Since Incept*
Ultra Basic Materials UYM 1/30/07 33.66 37.53 36.83 39.17 - 46.76 - 45.71 1.95 0.95
Ultra Consumer Goods UGE 1/30/07 -4.32 -6.37 -4.4 -6.39 - 8.27 - 9.04 2.02 0.95
Ultra Consumer Services UCC 1/30/07 -32.28 -32.38 -31.78 -32.21 - -24.52 - -23.98 2.40 0.95
Ultra Financials UYG 1/30/07 -51.32 -51.02 -51.5 -50.71 - -39.87 - -39.59 2.28 0.95
Ultra Health Care RXL 1/30/07 -7.99 -10.74 -8.8 -11.2 - 3.9 - 3.87 2.00 0.95
Ultra Industrials UXI 1/30/07 -3.63 -2.38 -3.82 -2.39 - 16.52 - 15.04 2.12 0.95
Ultra Oil & Gas DIG 1/30/07 57.2 47.29 54.09 46.75 - 69.05 - 68.96 1.62 0.95
Ultra Real Estate URE 1/30/07 -52.56 -52.35 -52.85 -52.12 - -49.07 - -49.02 1.87 0.95
Ultra Semiconductors USD 1/30/07 -31.08 -28.56 -31.34 -28.39 - 7.4 - 7.23 1.94 0.95
Ultra Technology ROM 1/30/07 -13.25 -16.81 -13.96 -16.54 - 19.04 - 19.11 2.25 0.95
Ultra Utilities UPW 1/30/07 -7.35 1.31 -7.47 1.46 - 28.27 - 27.55 1.88 0.95


1 = Expenses with Contractual Waiver for 10/1/07 through 9/30/08



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其他领域或产品做空型共同基金:

http://www.bearmarketcentral.com/mutualfunds.htm

The Bear Funds Scoreboard
Mutual Funds (fund name order) 03/25/08

Fund Ticker NAV Change

Access Flex Bear High Yield Fund AFBIX 27.03 0.17 0.63%
Comstock Capital Value Fund DRCVX 2.32 0.01 0.43%
Comstock Strategy Fund CPFAX 2.36
0.01 0.43%
Direxion Developed Mkts Bear 2.0X Fund DXDSX 13.14 0.03 0.23%
Direxion Dollar Bear 2.5X Fund DXDDX 28.23 0.07 0.25%
Direxion Emerging Markets Bear 2.0X Fund DXESX 4.67 0.02 0.43%
Direxion FDS 10 Year Note Bear Fund DXKSX 13.62 0.18 1.30%
Direxion High Yield Bear Fund PHBRX 19.10 0.30 1.55%
Direxion NASDAQ-100 Bear 2.5X Fund DXQSX 16.45 0.17 1.04%
Direxion S&P 500 Bear 2.5X Fund DXSSX 18.45 0.35 1.93%
Direxion Small Cap Bear 2.5X Fund DXRSX 13.94 0.46 3.41%
Direxion US Short Fund PSPSX 25.38 0.05 0.20%
Leuthold Grizzly Short Fund GRZZX 6.30 0.09 1.45%
ProFunds: Bear ProFund BRPIX 28.33 0.22 0.78%
ProFunds: Falling US Dollar ProFund FDPIX 31.91 0.03 0.09%
ProFunds: Rising Rates Opp. Fund RRPIX 17.32 0.24 1.37%
ProFunds: Rising Rates Opp. 10 Fund RTPIX 26.69 0.17 0.63%
ProFunds: Short Oil & Gas ProFund SNPIX 17.68 0.05 0.28%
ProFunds: Short Real Estate ProFund SRPIX 26.42 0.28 1.07%
ProFunds: Short Small-Cap ProFund SHPIX 17.46 0.23 1.33%
ProFunds: Short OTC ProFund SOPIX 16.22 0.09 0.56%
ProFunds: Short Precious Metals Fund SPPIX 18.33 0.14 0.77%
ProFunds: UltraBear ProFund URPIX 15.43
0.24
1.58%
ProFunds: UltraShort Emkt Fund UVPIX 8.39 0.05 0.60%
ProFunds: UltraShort Japan Fund UKPIX 42.90 0.04 0.09%
ProFunds: UltraShort Intl Fund UXPIX 22.31 0.34 1.50%
ProFunds: UltraShort Mid-Cap ProFund UIPIX 15.34 0.27 1.79%
ProFunds: UltraShort Small-Cap ProFund UCPIX 15.76 0.41 2.67%
ProFunds: UltraShort Dow 30 ProFund UWPIX 18.40 0.25 1.38%
ProFunds: UltraShort OTC ProFund USPIX 12.23 0.15 1.24%
Prudent Bear Fund BEARX 6.66 0.07 1.06%
Prudent Global Income Fund PSAFX 13.85 0.01 0.07%
Rydex Inverse Dynamic Dow Fund RYCWX 35.11 0.50 1.44%
Rydex Inverse Dynamic OTC Fund RYVNX 15.74 0.17 1.09%
Rydex Inverse Dynamic Russell 2000 Fund RYIRX 48.18 1.26 2.69%
Rydex Inverse Dynamic S&P 500 Fund RYTPX 35.28 0.54 1.55%
Rydex Inverse Government Long Bond Fund RYJUX 16.90 0.19 1.11%
Rydex Inverse Mid-Cap Fund RYMHX 37.40 0.34 0.92%
Rydex Inverse OTC Fund RYAIX 21.44 0.13 0.61%
Rydex Inverse Russell 2000 Fund RYSHX 39.35 0.52 1.34%
Rydex Inverse S&P 500 Fund RYURX 40.20 0.32 0.80%

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