ProFunds, which currently offers 12 exchange-traded funds, plans to offer 66 more, The Wall Street Journal reports. The offerings would increase the total number of ETFs offered in the U.S. by 25%.
The new ETFs will track more esoteric indexes, including the Russell 2000 and the S&P SmallCap 600, and focus on a variety of investment styles, including mid-cap growth and small-cap value.
ProFunds will offer three versions of each ETF--one that aims to double the index's performance, one that strives to provide the inverse of the index and a third that seeks to double the index's inverse.
The staff of Money Management Executive ("MME") has prepared these capsule summaries based on reports published by the news sources to which they are attributed. Those news sources are not associated with MME, and have not prepared, sponsored, endorsed, or approved these summaries.