ProShares will launch four new leveraged exchange traded funds benchmarked to the S&P Communication Services Select Sector Index and trading on the NYSE Arca/
The Ultra Communication Services Select Sector ETF (XCOM) will correspond to 2x the daily performance of the index, whereas the new UltraPro Communication Services Select Sector ETF (UCOM) will correspond to 3x the daily performance of the index.
The Ultra Short Communication Services Select Sector ETF (YCOM) will correspond to -2x the daily performance of the index and the new UltraPro Short Communication Services Select Sector ETF (SCOM) corresponds to -3x the daily performance of the index.
"ProShares is committed to providing knowledgeable investors with a comprehensive set of tools for tactical investing," said Ben Fulton, managing director of ProShares' tactical products business, in a statement. "To that end, we are particularly excited about adding leveraged and inverse communication services ETFs to our sector suite."
The S&P Communication Services Select Sector Index covers the new communication services sector, which focuses on the evolution of communication, entertainment and information sharing. It includes certain FAANG stocks, media giants and telecom leaders.
S&P Dow Jones Indices Launches Global SmallCap Select Index Series
S&P Dow Jones Indices launched the S&P Global SmallCap Select Index Series, which seeks to mitigate risks in global small-caps by excluding companies without a consistent track-record of positive earnings.
The Index Series currently includes the following regional indices: S&P Global SmallCap Select, S&P Global ex-U.S. SmallCap Select, S&P Developed ex-U.S. SmallCap Select, S&P Emerging SmallCap Select, and S&P/ASX Small Ordinaries Select.
Each index is weighted by float market capitalization and is a subset of the small-cap segment of the S&P Global BMI (Broad Market Index), except for the S&P/ASX Small Ordinaries Select which is built from the S&P/ASX Small Ordinaries. In order to be eligible for inclusion, companies must post two consecutive years of positive earnings per share.
With the exception of the S&P/ASX Small Ordinaries Select, the regional indices are based on methodology that excludes the smallest and least liquid 20% of companies within each country by their float market caps and median daily values traded in order to improve the replicability of the indices. The new indices are rebalanced semi-annually.
First Trust Launches New Active ETF
