On June 23, 2015, ProShares listed two new ETFs, the UltraPro Nasdaq Biotechnology ETF (Symbol: UBIO) and UltraPro Short Nasdaq Biotechnology ETF (Symbol: ZBIO), tracking the Nasdaq Biotechnology Index on the Nasdaq Stock Market.
UBIO seeks to provide 3x and ZBIO seeks to provide -3x the daily performance of the Nasdaq Biotechnology Index, before fees and expenses. The Nasdaq Biotechnology Index is a modified capitalization weighted index that includes Nasdaq-listed companies classified as either biotechnology or pharmaceutical.
The Nasdaq Biotechnology Index, which tracks a number of bellwether companies in the space, returned 34.1% in 2014, far outpacing both the S&P 500, and has continued its charge in 2015. Learn what is driving this growth story for the sector in our article, “Biotech – The Growth Story Continues.”
These products join six other global funds licensed to the index, including the ProShares Ultra Nasdaq Biotechnology ETF (BIB) and ProShares UltraShort Nasdaq Biotechnology ETF (BIS). ProShares is the world’s largest provider of geared ETFs. Geared ETFs are designed to offer knowledgeable investors the opportunity to act on their views, whether it’s hedging against downturns with inverse ETFs or using a leveraged ETF to get magnified exposure to a benchmark.
Nasdaq operates an efficient platform for successfully introducing a product suite into one of the single largest pools of liquidity, including market participants which represent a full spectrum of investors. ETF issuers benefit from an end-to-end solution that provides ongoing product support including index licensing, listings opportunities, data offerings and trading services.
The information contained above is provided for informational and educational purposes only, and nothing contained herein should be construed as investment advice, either on behalf of a particular security or an overall investment strategy. Neither The NASDAQ OMX Group, Inc. nor any of its affiliates makes any recommendation to buy or sell any security or any representation about the financial condition of any company. Statements regarding Nasdaq-listed companies or Nasdaq proprietary indexes are not guarantees of future performance. Actual results may differ materially from those expressed or implied. Past performance is not indicative of future results. Investors should undertake their own due diligence and carefully evaluate companies before investing. ADVICE FROM A SECURITIES PROFESSIONAL IS STRONGLY ADVISED.