ProShares Expands Leveraged Lineup

o ProShares UltraPro S&P500 (UPRO)

o ProShares UltraPro Short S&P500 (SPXU)

"ProShares now offers a large selection of 14 ETFs that offer short or leveraged exposure to a variety of regions and countries," says Michael L. Sapir, ProFunds Group Chairman and CEO. "With this broad line-up, investors can make tactical shifts as conditions change in markets around the world."

According to the prospectus, the funds listed above will charge annual expenses of 0.95 percent.

Self-regulatory bodies like FINRA have called for greater oversight on leveraged and inverse performing ETFs.

In a June notice, FINRA stated: "Training about leveraged and inverse ETFs should emphasize the need to understand and consider the risks associated with such products, including the investor's time horizons, and the impact of time and volatility on the fund's performance."

Certain ETF providers have already moved to increase product disclosures and other safety nets.

Direxion Shares recently changed the name of its entire lineup of leveraged and short ETFs to reflect the word "Daily." This move was done to help investors clearly understand that Direxion Shares attempt to deliver daily leveraged and inverse returns of their underlying indexes.

The first series of leveraged and short ETFs in the U.S. market were originally introduced in mid-2006.

Including the newly launched ETFs, ProShare Advisors now manages 86 ETFs with combined assets of around $27 billion. The firm also manages 115 leveraged and short mutual funds known as ProFunds.

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Ron DeLegge is the San Diego-based publisher and editor of ETFguide.com and the radio host of the "Index Investing Show," which is broadcast nationally on Saturday afternoons and can be heard online at www.indexshow.com. Ron served as an investment and financial advisor for 11 years.