July 15, 2011 at 08:45 AM EDT
ProShares Launches Hedge Fund Replication ETF (HDG)
ProShares announced the launch of the Hedge Replication ETF (HDG), a new product that will seek to provide returns characteristic of the hedge fund asset class. The new ETF is designed to maintain a high correlation to the HFRI Weighted Composite Index, an equal-weighted composite of more than 2,000 funds. The new ETF will seek to accomplish its objective by employing a proprietary model to establish weighted long or short exposure to six factors: S&P 500 Total Return Index MSCI EAFE US Dollar Net Total Return Index MSCI Emerging Markets US Dollar Net Total Return Index Russell 2000 Total Return Index 3-month U.S. Treasury Bills ProShares UltraShort Euro ETF The ETF will rebalance monthly, at which point a systematic regression analysis will determine which weighting for the factors would have produced the strongest correlation with the HFRI benchmark over the previous 24 month period. The S&P 500, MSCI EAFE, and [...] Click here to read the original article on ETFdb.com. Related Posts: Using ETFs To Access Alternatives ETF Pipeline Grows: More Hedge Fund Products, VIX ETNs In The Works How ETFs Have Democratized Investing ProShares Debuts Two VIX ETFs Closer Look At Hedge Fund ETFs
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