- ProShares launches two new ETFs: ProShares Ultra Top QQQ (QQUP, Financial) and ProShares UltraShort Top QQQ (QQDN).
- QQUP aims for 2x daily returns, while QQDN targets -2x daily returns of the Nasdaq-100 Mega Index.
- The Nasdaq-100 Mega Index includes major companies such as Alphabet, Amazon, Apple, and Microsoft.
ProShares, the leading provider of leveraged and inverse ETFs, has expanded its offerings with the introduction of two novel ETFs: ProShares Ultra Top QQQ (QQUP) and ProShares UltraShort Top QQQ (QQDN). QQUP is designed to pursue 2x the daily returns of the Nasdaq-100 Mega Index, whereas QQDN is structured to achieve -2x the daily returns. This strategic move marks the debut of funds that target leveraged and inverse exposure within the Nasdaq-100 Mega Index, which is comprised of tech giants like Alphabet, Amazon, Apple, Broadcom, Meta Platforms, Microsoft, NVIDIA, and Tesla.
The Nasdaq-100 Mega Index captures approximately 45% of the Nasdaq-100's cumulative weight, focusing on some of the largest firms within the index. ProShares CEO Michael L. Sapir emphasized the transformative power of technology in reshaping investment landscapes, noting that these new ETFs offer investors simplified access to significant market segments through single trades.
ProShares has consistently been at the vanguard of ETF innovation since 2006, managing over $80 billion in assets. Its extensive lineup includes products tailored for diverse strategies, such as crypto-linked, dividend growth, and interest rate hedged bond ETFs. The addition of QQUP and QQDN further solidifies ProShares' position as a frontrunner in creating leveraged and inverse investment opportunities, providing investors with tactical and strategic tools to navigate market volatility and pursue enhanced returns.
