FYI: ProShares has shut three of its ETFs, the first funds to close in August as of the end of trading on Aug. 5, 2019. The shuttered funds are as follows:
.ProShares UltraShort Gold Miners (GDXS)
.ProShares Ultra Gold Miners (GDXX)
.ProShares CDS Short North American HY Credit ETF (WYDE)
The two gold miner funds, which offered -2x and 2x exposure to their underlying index, were launched in 2015 and had very little in the way of assets. The ETFs were tied to the NYSE Arca Gold Miners Index, the same benchmark that underlies the VanEck Vectors Gold Miners ETF (GDX).
Meanwhile, WYDE was actively managed and invested in index-based credit default swaps via short positions. The fund was designed to benefit from deteriorating credit conditions.
Regards,
Ted
https://www.etf.com/sections/daily-etf-watch/1st-august-etf-closures-final
