ProShares, a Bethesda, Md., unit of ProFunds Advisors LLC that provides exchange-traded funds, is launching a series of short international exchange-traded funds.
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The funds are designed to go up when a foreign market goes down. Two of the funds were launched Thursday, and the other four will be launched next month. All six will be listed on the American Stock Exchange. When the six funds have launched, ProShares will have 58 ETFs.
ProShares, which has $9 billion of assets under management, offers the nation's only short and magnified-exposure ETFs.
The $16 billion-asset ProFunds also offers more than 60 ProFunds-branded mutual funds.
