ProShares Ultra FTSE China 50 (ARCA: XPP)

ProShares Ultra FTSE China 50 (ARCA:XPP), Quote.Headers.trade-ideas

The Fund invests in financial instruments that ProShare Advisors believes, in combination, should produce daily returns consistent with the Daily Target. The Index is constructed and maintained by FTSE International Limited. It is a modified capitalization weighted index that includes 50 of the largest and most liquid Chinese stocks listed on the Hong Kong Stock Exchange. H Shares, P Chips and Red Chips are eligible for inclusion. Index constituents are screened for liquidity and weightings are capped. Each constituent in the Index is a constituent of the FTSE All-World Index.

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Chinese stocks have been skyrocketing this year, rising to a nine-month high. Logging in the biggest monthly gain since April 2015 in February, the Shanghai Composite Index reclaimed its above 3,000 level on March 4 for the first time since June 2018. With the current rally, the index is up about 23 percent&nbsp;since its January 3 low and added nearly $1.5 trillion in value to China&#39;s stock market.
Below, we have highlighted some reasons for the outperformance that will likely continue in the near term, and some ETFs investors can use to play the trend.
<iframe allow="accelerometer; autoplay; encrypted-media; gyroscope; picture-in-picture" frameborder="0" height="315" src="https://www.youtube.com/embed/An4AZULEbD4?rel=0" width="560"></iframe>
<h3>A Potential Trade Deal</h3>
The optimism over the trade deal with the United States has been the biggest catalyst behind the rally. Washington and Beijing are close to striking a deal as early as this month to end the nearly one-year tariff war. According to the Bloomberg News and The Wall Street Journal, China offered to ease tariffs and other restrictions on U.S. farm, chemical, auto and other products. Meanwhile, Washington is considering removing most, if not all, sanctions on Chinese imports placed last year.
<h3>MSCI Inclusion Of Chinese Stocks</h3>
The MSCI move has instilled further confidence in Chinese stocks. The global index provider will quadruple the weighting of Chinese mainland shares (A-shares) from the current 5 percent&nbsp;to 20 percent&nbsp;for a number of its indexes &mdash;&nbsp;most notably the MSCI Emerging Markets Index in three phases &mdash; 10 percent&nbsp;in May, 15 percent in August and 20 percent&nbsp;in November. MSCI added 236 China-listed large-cap stocks to its Emerging Markets Index in 2018. Notably, Chinese A-shares were included in the MSCI Emerging Markets Index for the first time last year.
MSCI will also add 168 new mid-cap stocks in November and include 27 shares listed on the tech-heavy ChiNext board for the first time. On completion of the full implementation, the weighting of Chinese stocks in the MSCI Emerging Market Index will jump to 3.3 percent&nbsp;from the current 0.7 percent as the index will include 253 large-cap and 168 mid-cap China A-shares.
The move will likely trigger more than $80 billion of fresh foreign inflows into the world&#39;s second-biggest economy, per the index provider.
<h3>Stimulus And&nbsp;Reforms</h3>
Though the Chinese economy expanded 6.6 percnet&nbsp;&mdash;&nbsp;the slowest rate since 1990 &mdash;&nbsp;last year, the slew of Beijing&#39;s economic policies are likely to revitalize growth in the world&#39;s second-largest economy, raising the appeal for these stocks. Policymakers have promised to cut taxes, increase infrastructure spending for this year, and improve liquidity of the Chinese financial system in response to slowing growth.
Among the notable measures, China&#39;s central bank cut its reserve requirement ratio (RRR) for the fifth time early this year and offered financial institutions $83 billion in liquidity as part of a wider economic stimulus. The bank signaled more stimulus measures in the near term. The lifting of some trading curbs and deeper reforms in the finance sector also added to the enthusiasm. Moreover, depressed valuations have also encouraged investors to charge up at lower levels.
<h3>How To Play</h3>
Amid bullishness, many investors have turned confident on China stocks and are seeking to tap this opportunity. For them, a leveraged play on the stocks could be an excellent idea as these could see huge gains in a very short time frame when compared to the simple products.
We&#39;ve&nbsp;highlighted several leveraged ETFs and the key differences between them:
Direxion Daily China 3x Bull Shares ETF (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/yinn#NYSE">YINN</a>)
This product provides three times exposure to the FTSE China 50 Index, which consists of the 50 largest and most liquid public Chinese companies currently trading on the Hong Kong Stock Exchange. It charges annual fee of 97 bps and has AUM of $417.3 million. The fund trades in a heavy volume of around 2.8 million shares.
Direxion Daily CSI 300 China A Share Bull 2X Shares (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/chau#NYSE">CHAU</a>)
This product offers two times the exposure to the CSI 300 Index, charging investors 95 bps in annual fees. It has AUM of 117.5 million and average daily volume of 294,000 shares. The ETF is up 70&nbsp;percent&nbsp;this year.
Daily CSI China Internet Index Bull 2X Shares (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/cweb#NYSE">CWEB</a>)
This fund offers twice the leveraged exposure to the Chinese Internet market by tracking the CSI Overseas China Internet Index. It charges an annual fee of 95 bps and trades in a moderate average daily volume of about 97,000 shares. The fund has accumulated AUM of $73.1 million.
ProShares Ultra FTSE China 50 ETF (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/xpp#NYSE">XPP</a>)
This fund provides two times leveraged exposure to the daily performance of the FTSE China 50 Index. It is an unpopular and illiquid choice in the space with AUM of $30.4 million and average daily volume of 9,000 shares. Expense ratio comes in at 0.95 percent.
<h3>Bottom Line</h3>
As a caveat, investors should note that such products are suitable only for short-term traders as these are rebalanced on a daily basis.
However, for ETF investors, who are bullish on the Chinese stocks for the near term, either of the above products could make an interesting choice. Clearly, a near-term long could be intriguing for those with high-risk tolerance, and a belief that &quot;trend is the friend&quot; in this corner of the investing world.
Related Links:
<a href="https://www.benzinga.com/trading-ideas/long-ideas/19/03/13275007/msci-indexes-will-see-larger-a-shares-weights">MSCI Indexes Will See Larger A-Shares Weights</a>
<a href="https://www.benzinga.com/trading-ideas/long-ideas/19/02/13245838/emerging-markets-you-should-be-overweight-according-to-quant">Emerging Markets You Should Be Overweight According To Quantamize&#39;s AI Models</a>

After all the bravado about bringing China down to its knees, President Donald Trump seems to be warming to the idea of putting up with the Dragon nation in order to maintain global order. The telling proof for the changed stance came from the set of <a href="https://www.nytimes.com/2017/05/11/business/us-china-trade-deals.html?_r=0"> trade deals </a> signed between the world&#39;s first largest economy and the second largest on May 11.
Angie Setzer, a grain industry veteran and vice president of Grain for Citizens Elevator in Charlotte, Michigan, has this to say when asked about whether the reversal in stance an acknowledgment of China&rsquo;s supremacy in world affairs.
&ldquo;I think we&#39;ve grown comfortable with the idea that much of what Trump has said whether on the campaign trail or in the early days of his presidency tends to have been a much tougher approach than what we&#39;re seeing when the deals are actually cut,&rdquo; Setzer said.
&ldquo;Whether you would call it a reversal or a change in rhetoric it has appeared to work, at least when it comes to the compromises outlined in this recent set of agreements.&rdquo;
<h3>
	Why A Trade Deal With China Is Important For The US</h3>
<a href="https://ustr.gov/countries-regions/china-mongolia-taiwan/peoples-republic-china">China</a> is currently the largest goods trading partner of the U.S., with the total trade of both goods and services estimated at $648.2 billion in 2016. Goods and services imported to China totaled $169.3 billion compared to $478.9 billion worth of goods and services exported from China, resulting in a deficit of $309.6 billion on the trade with China. The total <a href="https://www.census.gov/foreign-trade/statistics/historical/gands.pdf"> trade deficit </a> of the <a href="https://www.benzinga.com/markets/binary-options/16/07/8183041/straddle-the-eurusd-in-preparation-for-us-trade-balance"> U.S. </a> for 2016 was $500.560 million.
<img alt="us-china-trade-balance-1-730x430.png" src="/files/u101977/us-china-trade-balance-1-730x430.png" style="width: 450px; height: 265px;" /> 
Source: Next Big Future.com
Majority of goods imported from China are consumer electronics, clothing and machinery. According to <a href="https://www.thebalance.com/u-s-china-trade-deficit-causes-effects-and-solutions-3306277"> Balance.com, </a> U.S. exports raw materials to China with the intention of getting the finished product, capitalizing on China&#39;s low assembly costs.
How does China accomplish to keep assembly costs down? The low standard of living in China relative to the U.S. allows Chinese companies to pay lower wages. Additionally, the exchange rate of the Chinese yuan, which is partially tied to the dollar, also helps.
Estimates by the Commerce Department pitches the jobs generated by the export of goods and services to China at 911,000 in 2015, 601,000 from the export of goods and 309,000 from the export of services.
<h3>
	What Does The May 11 Deal Bequeath?</h3>
The May 11 deal is a follow through on the agreement between Trump and Chinese President Xi Jinping at their Mar-a-Lago meeting in April to advance the U.S.-China economic cooperation with a 100-day action plan under the framework of the U.S.-China Comprehensive Economic Dialogue.
The initial actions outlined by the <a href="https://www.commerce.gov/news/press-releases/2017/05/joint-release-initial-results-100-day-action-plan-us-china-comprehensive"> government release</a> included:
<ul>
<li>
		China to allow beef imports from the U.S. no later than July 16, 2017; this is contingent on another round of technical consultations between the U.S. and China.</li>
<li>
		Resolution of outstanding issues related to the imports of cooked poultry from China, with the U.S. to publish a proposed rule by July 16, 2017, at the latest.</li>
<li>
		Following assessment by the China National Biosafety Committee, China is to grant certificate for U.S. biotechnology products that pass the safety evaluation within 20 days of determination.</li>
<li>
		Allowing China access to LNG imports from China.</li>
<li>
		By July 16, 2017, China is to allow foreign-owned financial services firms in China to provide credit rating services and to begin the licensing for credit investigation.</li>
<li>
		By the same deadline, China is to allow U.S.-owned suppliers of electronic payment services to begin the licensing process, and also bond and underwriting and settlement licenses are to be issued to two qualified U.S. financial institutions.</li>
</ul>
<h3>
	One Belt One Road Initiative</h3>
Over and above this, as part of the deal agreed upon by three co-chairs, namely the U.S. Secretary of Treasury <a href="https://www.benzinga.com/analyst-ratings/analyst-color/17/05/9384420/steve-mnuchin-wants-to-reform-fannie-and-freddie-but-it-"> Steve Mnuchin, </a> U.S. Commerce Secretary Wilbur Ross and Chinese Vice Premier Wang Yang, also recognizes the China&#39;s One Belt and One Road, or OBOR, initiative and was to send delegates to attend the Belt and Road Forum in Beijing May 14&ndash;15.
The OBOR initiative is a strategy proposed in 2013 to establish connectivity and cooperation among China and the rest of Eurasia, with a land-based Silk Road Economic Belt and ocean-based Maritime Silk Route. This is seen as a way of China asserting its supremacy in global affairs.
<img alt="obor1-1.png" src="/files/u101977/obor1-1.png" style="width: 450px; height: 280px;" />
Setzer believes Trump&#39;s softened stance in acknowledging the OBOR initiative is attributable to many reasons, the chief among them being the agricultural trade opportunities presented by China and a helping hand China may provide in handlong relations with Russia and North Korea.
&quot;From an agricultural standpoint the amount of money China is looking to spend on food imports in the next decade could easily outpace the benefits China is looking to obtain through this policy. China&#39;s ability to direct diplomatic relations from a global standpoint cannot be ignored either. China has put themselves in an interesting position in the world and I believe this shift in policy from the US when it comes to the One Belt One Road initiative is us simply acknowledging that importance,&quot; Setzer clarified.
Trump&#39;s stance is a radical shift from his predecessor, former President Barack Obama, who stitched up a deal, named the <a href="https://www.benzinga.com/news/16/11/8735402/what-is-tpp-how-big-is-the-trade-and-who-benefits-from-it"> Trans-Pacific Partnership, </a> or TPP, with 12 Pacific Rim nations, including many of China&#39;s neighbors but excluding China. China was reluctant to confirm to the reforms potential member nations had to adhere to, hence the exclusion.
The treaty was meant to trim tariffs, incentivizing trade among the involved parties. However, on assuming office, Trump dismantled the TPP.
<h3>
	Old Wine In A New Bottle</h3>
However, some argue that the trade agreements don&#39;t offer anything new. All agreements are either adding new details or chalking up new deadlines for the agreement that were already in place under Obama.
Setzer sees one marked difference between the approach of President Trump and Obama. While Obama was trying to reduce China&rsquo;s importance through the TPP, Trump is much more interested in working with China unilaterally before building up other trade relations with the countries working together under TPP.
<h3>
	What Does The Trade Deal Mean?</h3>
1. Financial Industry
The deal provides for U.S-owned card payment services breaking the monopoly of China&#39;s UnionPay system, which is owned by Chinese banks and has about 90 percent share of the overall market. Credit card companies such as Visa Inc (NYSE: <a class="ticker" href="/stock/v#NYSE">V</a>) and Mastercard Inc (NYSE: <a class="ticker" href="/stock/ma#NYSE">MA</a>) can now begin preparing for applying licenses to operate in China.
The participation could be either in the form of going solo in offering yuan credit cards or offering dual-branded cards with Chinese banks. However, there are doubts, China would provide a level playing field for the U.S. companies, which would go a long way in helping them snare market share.
Probed on whether China will offer a level playing field for the U.S. firms, Setzer suggested it isn&#39;t likely.
&quot;Historically even though the playing field may look even from a distance intricacies of market adjustments and rules will likely limit the ability for Visa, Mastercard or any others to get a hold of a significant market share in the country &mdash; unless of course a large investment was made by the Chinese government into one of those companies named,&quot; Setzer explained.
Credit rating agencies such as S&amp;P Global Inc (NYSE: <a class="ticker" href="/stock/spgi#NYSE">SPGI</a>)&#39;s S&amp;P Ratings, Fitch and Moody&#39;s Corporation (NYSE: <a class="ticker" href="/stock/mco#NYSE">MCO</a>) stand to benefit when they get a foothold in the Chinese markets.
2. Beef And Poultry Industry
The U.S. livestock industry sees the agreements related to beef export and poultry imports as opening up a new lucrative market for their products. Beef exports to China, which was banned in 2003 after an outbreak of the mad cow disease, would now restart after a 14-year hiatus.
A report in USA Today, quoting Food Safety News, said beef exports from the U.S. fell to $1.1 billion in 2004 from $3 billion in 2003, due to the worldwide ban on U.S. beef exports. Potential presented by the Chinese middle customers is seen as vast by the beef industry.
Allowing beef exports from U.S. is seen as a move by China to get their cooked chicken into the U.S. In return, it is also seen as a step toward lifting of the ban on U.S. cooked chicken imports into China. The premise based on which Chinese chicken exports was the poor quality standards of the Chinese processing facilities.
However, Setzer believes this scenario has changed slightly, with improvements made in the plants cooking the chicken products expected to be imported by the US.
&quot;The reasons behind a US refusal to import uncooked meat (bird flu, disease, tainted supplies) have not gone away,&quot; Setzer said.
&quot;However Chinese officials claim they have been working hard to improve the facilities handling the expected exported product. China is now working with US officials allowing inspections of those facilities as well &mdash; just to add, the US will not import food products that do not meet inspection standards equal to that of the US. Because of this most say these imports will be safe &mdash; we&#39;ll let the consumer be the judge of that.&quot;
Jim Sumner, president of USA Poultry &amp; Egg Export Council was quoted by USA Today as saying, &quot;We can&#39;t produce enough chicken wings to satisfy demand here. So it&#39;s all good. We&#39;re glad to see it happen because our industry believes in free, open trade.&quot;
The recent deal should help the cause of chicken and beef companies such as Tyson Foods, Inc. (NYSE: <a class="ticker" href="/stock/tsn#NYSE">TSN</a>), Hormel Foods Corp (NYSE: <a class="ticker" href="/stock/hrl#NYSE">HRL</a>), Sanderson Farms, Inc. (NASDAQ: <a class="ticker" href="/stock/safm#NASDAQ">SAFM</a>) and Pilgrim&#39;s Pride Corporation (NASDAQ: <a class="ticker" href="/stock/ppc#NASDAQ">PPC</a>).
Meanwhile, Setzer take is that the Chinese chicken may offer competition to the U.S. firms, although she doesn&#39;t expect a shock overall but a small impact.
&quot;The American consumer is not going to line up for Chinese chicken products. Those unaware may change their buying habits, but most will avoid imported meat products from China, in my opinion,&quot; Setzer said.
Related Links:
<a href="https://www.benzinga.com/news/17/01/8939243/what-is-a-trade-war">What Is A &#39;Trade War&#39;?</a>
<a href="https://www.benzinga.com/news/17/01/8928051/china-gears-up-to-take-on-trump-even-as-domestic-economy-slows-to-26-year-low"> China Gears Up To Take On Trump Even As Domestic Economy Slows To 26-Year Low </a>

Chinese stocks have been red hot this year, and a new entrant in the ETF space is looking to intensify those returns through the use of leveraging.

	Direxion Investments recently introduced the Direxion Daily CSI 300 China A Share Bull 2x Shares (NYSE: <a class="ticker" href="/stock/chau#NYSE">CHAU</a>). This ETF seeks to replicate 200 percent of the daily performance of the CSI 300 Index, representing the 300 largest and most liquid stocks in the China A-share market.
<h3>A Closer Look</h3>
	CHAU will follow in the footsteps of the highly successful Deutsche X-Trackers Harvest CSI 300 China A-Shares ETF (NYSE: <a class="ticker" href="/stock/ashr#NYSE">ASHR</a>), which has accumulated over $1.2 billion in assets. As evident in the chart below, investors have been flourishing on the returns of Chinese A-share securities over the last year.
<bzrelatedlink>Related Link: <a href="http://www.benzinga.com/etfs/specialty-etfs/15/04/5373130/china-a-share-etfs-dominate-first-quarter-returns">China A-Share ETFs Dominate First-Quarter Returns</a></bzrelatedlink>
<div id="preview-wrapper">
<div id="file-preview">
		<a href="https://www.benzinga.com/imce?app=nomatter%7Cimceload%40imceInline.load#" title=""></a></div></div>
<img alt="ashr.png" height="284" src="https://www.benzinga.com/files/u79448/ashr.png" width="460" />


<h3>Sector Peer</h3>
	ASHR has gained nearly 122 percent over the last 52-weeks and just recently hit new all-time highs. Many investors have speculated whether or not Chinese stocks are <a href="http://www.reuters.com/article/2015/04/22/us-markets-hongkong-china-stocks-midday-idUSKBN0ND0BD20150422">currently in bubble territory</a>.

	While CHAU will use leverage to produce daily returns that are approximately double that of ASHR, investors should be wary of expecting those same gains to compound over time. The frequent rebalancing and magnification of daily price changes make holding leveraged ETFs over long periods a risky proposition.
<h3>Unique Offerings</h3>
	This new fund will offer a unique dynamic for investors looking to boost their gains outside of traditional Chinese indices that are traded abroad. The well-established ProShares Ultra FTSE China 50 (NYSE: <a class="ticker" href="/stock/xpp#NYSE">XPP</a>) tracks 200 percent of the daily performance of the FTSE China 50 Index.

	This represents the 50 largest stocks on the Hong Kong Stock Exchange. XPP is the magnified version of the iShares FTSE/Xinhua China 25 Index (ETF) (NYSE: <a class="ticker" href="/stock/fxi#NYSE">FXI</a>).

	Both CHAU and XPP charge a net expense ratio of 0.95 percent and should only be considered for aggressive investors with short-term time horizons that understand the risks of leverage.
&nbsp; 
Image Credit: <a href="http://pixabay.com/en/chinese-currency-money-yuan-mao-15511/">Public Domain</a>

Big winners (Up at least 5%): ProShares Ultra Silver (NYSE: <a class="ticker" href="/stock/agq#NYSE">AGQ</a>), ProShares Ultra FTSE China 25 (NYSE: <a class="ticker" href="/stock/xpp#NYSE">XPP</a>) and the Direxion Daily China Bull 3X Shares (NYSE: <a class="ticker" href="/stock/yinn#NYSE">YINN</a>).

	Big losers (Down at least 5%): iPath MSCI India Index ETN (NYSE: <a class="ticker" href="/stock/inp#NYSE">INP</a>), Direxion Daily India Bull 3X Shares (NYSE: <a class="ticker" href="/stock/indl#NYSE">INDL</a>), ProShares UltraShort Silver (NYSE: <a class="ticker" href="/stock/zsl#NYSE">ZSL</a>), VelocityShares Daily 2x VIX ST ETN (NYSE: <a class="ticker" href="/stock/tvix#NYSE">TVIX</a>) and the C-Tracks Citi Volatility Index TR ETN (NYSE: <a class="ticker" href="/stock/cvol#NYSE">CVOL</a>).

	Unusual volume: iShares MSCI Finland Capped ETF (BATS: EFNL) nearly quadruple average daily volume. Accuvest Global Opportunities ETF (NYSE: <a class="ticker" href="/stock/accu#NYSE">ACCU</a>) more than 12 times ADV. Global X China Financials ETF (NYSE: <a class="ticker" href="/stock/chix#NYSE">CHIX</a>) more than five times ADV. PowerShares DB Oil (NYSE: <a class="ticker" href="/stock/dbo#NYSE">DBO</a>) nearly 10 times ADV. ProShares UltraShort Nasdaq Biotech (NASDAQ: <a class="ticker" href="/stock/bis#NASDAQ">BIS</a>) almost quadruple ADV.

	Must reads of the day:

	<ul><li>Rising rates pushing investors out of bond ETFs <a href="http://www.usatoday.com/story/money/markets/2013/09/02/bonds-interest-rates-etfs-markets/2728919/">from USA Today</a>.</li>

	<li>Opportunities in the Philippines with quotes from yours truly <a href="http://pathfinderbuzz.com/philippines-offer-etf-investment-opportunity/?utm_source=PathfinderBuzz%20subscribers&amp;utm_campaign=371f1daa5a-PathfinderBuzz_March_223_23_2013&amp;utm_medium=email&amp;utm_term=0_3046be5b76-371f1daa5a-75518509">courtesy of Pathfinder Buzz</a>.</li>

	<li>Not All Emerging Markets ETFs Are Hemorrhaging Cash, <a href="http://www.etftrends.com/2013/09/some-emerging-market-etfs-actually-bringing-in-cash/">says Street One Financial</a>.</li>

	<li>August was a bad month for ETF outflows, <a href="http://www.benzinga.com/markets/bonds/13/09/3883177/after-stellar-july-etfs-shed-15-billion-in-august">according to BlackRock data</a>.</li>

	<li>These sectors ETFs look worrisome this month, <a href="http://www.benzinga.com/markets/bonds/13/09/3883009/rising-rates-could-make-these-etfs-betray-seasonal-trends">particularly if interest rates keep rising</a>.</li></ul>


	To have ETF-related content featured in Benzinga's Mandatory ETF Reading, please contact me on Twitter <a href="https://twitter.com/ETFProfessor1">@ETFProfessor1</a>.

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Benzinga's Mandatory ETF Reading for September 3, 2013

With 2012 drawing to a close in a matter of hours, it is fair to say it has been another wild, volatile and perhaps disappointing year for leveraged ETFs. 

Wild and volatile because, and this is no surprise, some of the best-performing ETFs on a percentage basis this year are leveraged funds. 

Disappointing because many leveraged funds continue to confound investors that hold these products for extended time frames. For example, the iShares Dow Jones U.S. Financial Sector Index Fund (NYSE: <a class="ticker" href="/stock/iyf#NYSE">IYF</a>), not a leveraged ETF, is up 22.6 percent this year. Presumably, that means the ProShares UltraShort Financials (NYSE: <a class="ticker" href="/stock/skf#NYSE">SKF</a>), the double-leveraged inverse equivalent of IYF, is down 45.2 percent, right?

Wrong. SKF is off "just" 42 percent, which may be a slight disappointment for those that had fortitude to short that product in January and ride that short all year. To be sure, that strategy should not be employed by all investors. However, use of leveraged ETFs as short-term trades , not long-term investments, will continue to work in 2013. Here are 10 such funds to consider in the new year.

Direxion Daily Gold Miners Bear 3X Shares (NYSE: <a class="ticker" href="/stock/dust#NYSE">DUST</a>)
This list is no particular order, but if it was in order of preference, DUST might just appear in the top spot. The reason being is that gold mining stocks and ETFs <a href="http://www.benzinga.com/trading-ideas/long-ideas/12/11/3135525/even-the-pros-struggle-with-gold-miners-etfs">continue to struggle relative to bullion</a>. Making matters worse is the fact this is becoming a long-running theme.

DUST proves the aforementioned point about the importance of not making leveraged ETFs investments. In 2012, the Market Vectors Gold Miners ETF (NYSE: <a class="ticker" href="/stock/gdx#NYSE">GDX</a>) has lost 11.6 percent, but DUST is far worse with a loss of 21.3 percent. Do things the right way and view DUST as a short-term trade and one will see this ETF has surged eight percent in the past month while GDX has tumbled 9.6 percent. 

Bullish alternative: Direxion Daily Gold Miners Bull 3X Shares (NYSE: <a class="ticker" href="/stock/nugt#NYSE">NUGT</a>).

Direxion Daily Financial Bull 3X Shares (NYSE: <a class="ticker" href="/stock/fas#NYSE">FAS</a>)
The infamous FAS has surged 78.2 percent this year. An impressive run to be sure, but investors could have done a lot better by simply buying shares of Bank of America (NYSE: <a class="ticker" href="/stock/bac#NYSE">BAC</a>) in January and holding that stake the entire year. Dow component BofA has more than doubled this year. 

Well, that is hindsight and investors are now wondering if FAS can offer a sequel to its 2012 heroics in 2013. It is possible. Financials are slightly cheaper than the broader market as the Financial Services Select SPDR (NYSE: <a class="ticker" href="/stock/xlf#NYSE">XLF</a>) has a P/E ratio below that of <a href="https://www.spdrs.com/product/fund.seam?ticker=SPY">the SPDR S&amp;P 500 (NYSE: </a><a class="ticker" href="/stock/spy#NYSE">SPY</a>).

A catalyst(s) for FAS could arrive in the first half of 2013 if regulators allow BofA and Citigroup (NYSE: <a class="ticker" href="/stock/c#NYSE">C</a>) to boost dividends and engage in much needed share repurchase programs.

Bearish alternative: Direxion Daily Financial Bear 3X Shares (NYSE: <a class="ticker" href="/stock/faz#NYSE">FAZ</a>).

ProShares UltraShort Oil &amp; Gas (NYSE: <a class="ticker" href="/stock/dug#NYSE">DUG</a>)
Here is another example of the dangers of holding a leveraged ETF over the course of a year. The index DUG is designed to deliver two times the daily inverse performance of the same index tracked by the iShares Dow Jones U.S. Energy Sector Index Fund (NYSE: <a class="ticker" href="/stock/iye#NYSE">IYE</a>). That ETF is up about 0.7 percent this year, but DUG has lost almost 15 percent. As is the case with DUST, there have been stretches of time where DUG has proven to be one of the better energy ETFs, though it is important to note those stretches do not last 10 or 12 months. 

Amid faltering production, integrated oil names could be in for another mediocre year in 2013, implying DUG is worth keeping an eye on.

Bullish alternative: ProShares Ultra Oil &amp; Gas (NYSE: <a class="ticker" href="/stock/dig#NYSE">DIG</a>).

Direxion Daily Technology 3X Bear Shares (NYSE: TECS)
It is not hyperbole to say tons of market participants are concerned about Apple (NASDAQ: <a class="ticker" href="/stock/aapl#NASDAQ">AAPL</a>). The largest U.S. company by market value traded over $700 in October, but appears destined to close the year below $530. 

Apple accounts for 17.2 percent of the Technology Select Sector SPDR (NYSE: <a class="ticker" href="/stock/xlk#NYSE">XLK</a>), the ETF that tracks the same index TECS is designed to deliver three times the daily inverse performance of. When properly applied, TECS is useful either for those looking to profit from an Apple decline without having to incur the risks of shorting the stock directly, or the limitations of the options market. Additionally, since TECS trades for less than $10, those that are long Apple or XLK, can use TECS as an occasional hedge.

Bullish alternative: Direxion Daily Technology 3X Bull Shares (NYSE: TECL). 

ProShares UltraShort Yen (NYSE: <a class="ticker" href="/stock/ycs#NYSE">YCS</a>)
Of all the ETFs mentioned on this list, YCS may come with the most simple, obvious reasoning. The yen will close 2012 as the worst-performing developed market currency. Newly elected Japanese Prime Minister Shinzo Abe <a href="http://www.benzinga.com/trading-ideas/long-ideas/12/12/3200690/play-the-japan-rally-with-these-etfs">has pledged to pressure the Bank of Japan</a> to engage in unlimited monetary easing and target two percent inflation.

At this juncture, it appears BoJ will acquiesce to Abe's demands. It is either that or risk losing its independence. 

Bullish alternative: ProShares Ultra Yen (NYSE: <a class="ticker" href="/stock/ycl#NYSE">YCL</a>).

Direxion Daily Small Cap Bull 3X Shares (NYSE: <a class="ticker" href="/stock/tna#NYSE">TNA</a>)
Small-caps have held up quite well in an environment made challenging by politicians' inability to solve the fiscal cliff. The iShares Russell 2000 Index Fund (NYSE: <a class="ticker" href="/stock/iwm#NYSE">IWM</a>) has gained 1.7 percent in the past month compared to a loss 0.8 percent for the SPDR S&amp;P 500 (NYSE: <a class="ticker" href="/stock/spy#NYSE">SPY</a>). 

That could be a promising sign regarding the chances of a January Effect, the scenario under which small-caps leader a broader market rally to start the new year. If small-caps do become a leadership group in the first quarter, then the Direxion Daily Small Cap Bull 3X Shares becomes useful as a short-term trade.

Bearish alternative: Direxion Daily Small Cap Bear 3X Shares (NYSE: <a class="ticker" href="/stock/tza#NYSE">TZA</a>).

ProShares Ultra FTSE China 25 (NYSE: <a class="ticker" href="/stock/xpp#NYSE">XPP</a>)To its credit, the ProShares Ultra FTSE China 25 has not deviated too far from double the returns of its unleveraged equivalent, that being the iShares FTSE China 25 Index Fund (NYSE: <a class="ticker" href="/stock/fxi#NYSE">FXI</a>). Year-to-date, over the past six months, 90 days and 30 days, XPP has offered just over double the returns of FXI. 

That should not change the fact that leveraged ETFs are not intended to be held all year. However, with Chinese equities and plain vanilla China ETFs closing 2012 in strong fashion, XPP merits consideration for the year ahead. 

Investors should note that XPP sharply outperformed the Direxion Daily China Bull 3X ETF (NYSE: <a class="ticker" href="/stock/yinn#NYSE">YINN</a>) in 2012. The two track different indexes and that likely explains the difference. Both funds are highly risky, but if one can grab better returns with a double-leveraged ETF over a similar triple-leveraged product, that is a deal that should be taken. 

Bearish alternative: ProShares UltraShort FTSE China 25 (NYSE: <a class="ticker" href="/stock/fxp#NYSE">FXP</a>).

For more on ETFs, click <a href="http://www.benzinga.com/etfs">here</a>.

Intraday Update

AAPL

DUST

Market Vectors ETF Trust Market Vectors Gold Miners

iShares Dow Jones US Energy Sector Index Fund

iShares Dow Jones US Financial Sector Index Fund

NUGT

Leveraged ETFs For The New Year: 7 for 2013

St. Patrick's Day is almost upon us. So here is a quick look at how the stocks of some companies headquartered in Ireland are faring, given the uncertain economic situation in Europe.

Accenture's (NYSE: <a class="ticker" href="/stock/acn#NYSE">ACN</a>) share price is up more than 17% year to date, including a 9% surge in the past month. The Dublin-based global management consulting and business services company will be part of the S&amp;P 100 as of March 16, and its market cap is $44.3 billion. It has an operating margin higher than the industry average and a return on equity of 71.5%. Its dividend yield is 2.2%. The stock has outperformed the S&amp;P 500 and the Dow since the beginning of the year.

See also: <a href="http://www.benzinga.com/analyst-ratings/analyst-color/12/03/2418874/accenture-remains-top-it-pick-for-morgan-stanley">Accenture Remains a Top IT Pick for Morgan Stanley</a>

Cooper Industries (NYSE: <a class="ticker" href="/stock/cbe#NYSE">CBE</a>) rose more than 7% in the past week and is now less than 6% below its 52-week high. This maker of electrical components and tools recently raised its dividend 7% and announced the acquisition of Fifth Light Technology. Its return on equity of 18.9% and the long-range EPS growth forecast is 13.8%. Its market cap is $10.1 billion. The stock has outperformed the likes of ABB (NYSE: <a class="ticker" href="/stock/abb#NYSE">ABB</a>) and General Electric (NYSE: <a class="ticker" href="/stock/ge#NYSE">GE</a>) over the past six months.

Covidien's (NYSE: <a class="ticker" href="/stock/cov#NYSE">COV</a>) share price rose almost 5% in the past week to more than 20% higher than at the beginning of the year. The Dublin-based global health care products company recently announced plans for four new R&amp;D facilities. Covidien has a market cap of $26.1 billion and a dividend yield of 1.7%. Its return on equity is 19.9%. Over the past six months, the stock has outperformed competitors Becton, Dickson (NYSE: <a class="ticker" href="/stock/bdx#NYSE">BDX</a>) and Johnson &amp; Johnson (NYSE: <a class="ticker" href="/stock/jnj#NYSE">JNJ</a>).

See also: <a href="http://www.benzinga.com/trading-ideas/long-ideas/12/02/2343908/checking-in-are-irish-eyes-smiling">Should Investors Consider the Lone Irish ETF?</a>

CRH's (NYSE: <a class="ticker" href="/stock/crh#NYSE">CRH</a>) share price has risen more than 47% in the past six months, including a 7% increase in the past week. The construction materials producer also operates more than 700 stores throughout Europe. The Dublin-based company has a market cap is $15.4 billion. Its long-range EPS growth forecast is 20.4% and the P/E ratio is less than the industry average. Over the past six months, the stock has outperformed the broader markets.

Ingersoll-Rand (NYSE: <a class="ticker" href="/stock/ir#NYSE">IR</a>) shares have rebounded from a recent pullback and are trading about 33% higher year to date. The Dublin-based company makes everything from Schlage locks to Trane air conditioners, and it posted better-than-expected earnings for the fourth quarter. It has a market cap of $12.0 billion and its dividend yield is 1.6%. Over the past six months, the stock has outperformed competitors such as Dover (NYSE: <a class="ticker" href="/stock/dov#NYSE">DOV</a>) and Gardner Denver (NYSE: <a class="ticker" href="/stock/gdi#NYSE">GDI</a>).

See also: <a href="http://www.benzinga.com/news/12/03/2421946/ingersoll-rand-reaffirms-2012-revenues-of-14-0-to-14-4b-and-eps-of-2-90-to-3-10">Ingersoll Rand Reaffirms 2012 Revenues</a>

Ryanair Holdings (NASDAQ: <a class="ticker" href="/stock/ryaay#NASDAQ">RYAAY</a>) is up more than 22% since the beginning of the year and has been trading near its 52-week high for the past month. The Dublin-based carrier posted better-than-expected revenues and EPS in the most recent quarter. The market cap is $9.9 billion, the long-term EPS growth forecast is 14.7% and the return on equity is 19.8%. Over the past six months, the stock has outperformed JetBlue (NASDAQ: <a class="ticker" href="/stock/jblu#NASDAQ">JBLU</a>) and Southwest (NYSE: <a class="ticker" href="/stock/luv#NYSE">LUV</a>).

Seagate Technology (NASDAQ: <a class="ticker" href="/stock/stx#NASDAQ">STX</a>) is trading almost 69% higher than at the beginning of the year. Shares surged at the end of January when the hard drive maker said that its fiscal second-quarter net income more than tripled from a year earlier. The $12.3 billion market cap Dublin-based company has a dividend yield of 3.7%, and its return on equity is 29.3%. The stock has outperformed NetApp (NASDAQ: <a class="ticker" href="/stock/ntap#NASDAQ">NTAP</a>) and Western Digital (NYSE: <a class="ticker" href="/stock/wdc#NYSE">WDC</a>) over the past six months.

See also: <a href="http://www.benzinga.com/trading-ideas/long-ideas/12/03/2387564/seagate-pf-changs-and-other-top-nasdaq-stocks-in-february">Seagate, PF Chang's and Other Top Nasdaq Stocks in February</a>

<div id="action-items">ACTION ITEMS:

Bullish: Investors also may want to consider the following trades: 

<ul><li>iShares MSCI Ireland Capped Investible Market Index (NYSE: <a class="ticker" href="/stock/eirl#NYSE">EIRL</a>) is about 18% higher year to date.</li>
<li>iShares MSCI EMU Index (NYSE: <a class="ticker" href="/stock/ezu#NYSE">EZU</a>) is more than 13% higher year to date.</li>
<li>iShares S&amp;P Europe 350 Index (NYSE: <a class="ticker" href="/stock/iev#NYSE">IEV</a>) is about 11% higher year to date.</li>
</ul>Bearish: Traders may prefer to consider these alternative positions:

<ul><li>Direxion Daily India Bull 3X Shares (NYSE: <a class="ticker" href="/stock/indl#NYSE">INDL</a>) is up more than 70% year to date.</li>
<li>ProShares Ultra MSCI Brazil (NYSE: <a class="ticker" href="/stock/ubr#NYSE">UBR</a>) is up more than 37% year to date.</li>
<li>ProShares Ultra FTSE China 25 (NYSE: <a class="ticker" href="/stock/xpp#NYSE">XPP</a>) is up almost 22% year to date.</li>
</ul>Neither Benzinga nor its staff recommend that you buy, sell, or hold any security. We do not offer investment advice, personalized or otherwise. Benzinga recommends that you conduct your own due diligence and consult a certified financial professional for personalized advice about your financial situation.</div>

Global

iShares MSCI Ireland Capped Investable Market Index Fund

EIRL

JBLU

NTAP

RYAAY

Accenture, Covidien, Seagate and Other St. Patrick's Stock Picks

No one ever said <a href="http://www.benzinga.com/trading-ideas/long-ideas/11/12/2220100/epic-fail-part-ii-short-financial-etfs-an-unpleasant-surprise">leveraged ETFs are perfect</a>. And let's be honest: Leveraged ETFs are perhaps the most derided financial instrument to come along in years. These things make credit default swaps and other complex derivatives look like the most well-behaved kids in class.

The bottom line with leveraged ETFs is most folks love them or hate them. There is really "in between" regarding sentiment toward these products. 

An interesting situation can be spotted today that might give leveraged ETF haters a little more ammo for their argument and keep investors that have been curious about these funds away. Just check out China ETFs. 

At this writing, the iShares FTSE China 25 Index Fund (NYSE: <a class="ticker" href="/stock/fxi#NYSE">FXI</a>), the largest China ETF on the market, is down about 1%. As such, it's reasonable to expect the ProShares UltraShort FTSE China 25 (NYSE: <a class="ticker" href="/stock/fxp#NYSE">FXP</a>) would be up almost 2%, which it is. It would also be fair to expect the ProShares Ultra FTSE China 25 (NYSE: <a class="ticker" href="/stock/xpp#NYSE">XPP</a>), FXP's bull cousin, to be down 2%. And it is.

So everything is kosher there, but add to the leverage and things get interesting, at least on this particular day. The Direxion Daily China Bear 3X Shares (NYSE: YANG) is DOWN nearly 3% today. That's right, no need for a double take. The Direxion Daily China Bear 3X Shares is down.

Making matters even more interesting is the fact that YANG's bull equivalent, the Direxion Daily China Bull 3X Shares (NYSE: YINN) is UP today. Up almost 3% as a matter of fact. 

Yes, the ProShares and Direxion funds track different indexes and that might explain some of the performance gap today. However, discrepancies such as a bullish leveraged China ETF going up when the biggest plain vanilla China ETF is down and at healthy percentages no less, probably doesn't do much to help endear leveraged ETFs to the masses.

Maybe it's a one-day anomaly. Even it is just that, this is one of those situations that underscores the risks involved with leveraged ETFs. Remember, these are DAILY instruments, good for periodic hedging and short-term trades, but by no means should they become core long-term portfolio holdings.

YINN To My YANG: What's Up With Leveraged Chinese ETFs?

Here is the ETF Professor's ETF Watch List for Thursday February 9, 2012.

The Guggenheim Solar ETF (NYSE: <a class="ticker" href="/stock/tan#NYSE">TAN</a>) shined bright on Wednesday.

The Global X FTSE Greece 20 ETF (NYSE: <a class="ticker" href="/stock/grek#NYSE">GREK</a>) did not.

Keep an eye on the Energy Select Sector SPDR (NYSE: <a class="ticker" href="/stock/xle#NYSE">XLE</a>).

Emerging markets plays of the day: EGShares India Small Cap ETF (NYSE: <a class="ticker" href="/stock/scin#NYSE">SCIN</a>), ProShares Ultra FTSE China 25 (NYSE: <a class="ticker" href="/stock/xpp#NYSE">XPP</a>) and the Global X Colombia ETF (NYSE: <a class="ticker" href="/stock/gxg#NYSE">GXG</a>).

Forex play of the day: ProShares UltraShort Euro (NYSE: <a class="ticker" href="/stock/euo#NYSE">EUO</a>).

Bond play of the day: Vanguard Total Bond Market ETF (NYSE: <a class="ticker" href="/stock/bnd#NYSE">BND</a>).

Follow me on Twitter: twitter.com/ETFProfessor1

Pre-Market Outlook

GREK

Emerging Global Shares INDXX India Small Cap Fund

SCIN

ETFs to Watch February 9, 2012

Here is the ETF Professor's ETF Watch List for Friday February 3, 2012.

The Global X FTSE Greece ETF (NYSE: <a class="ticker" href="/stock/grek#NYSE">GREK</a>) remains one to watch.

The Direxion Daily Basic Materials Bull 3X Shares (NYSE: MATL) looks poised for more gains. Or try a more conservative approach with the Market Vectors Coal ETF (NYSE: <a class="ticker" href="/stock/kol#NYSE">KOL</a>).

The U.S. Natural Gas Fund (NYSE: <a class="ticker" href="/stock/ung#NYSE">UNG</a>) had a nice day on Thursday.

Emerging markets plays of the day: Market Vectors Vietnam ETF (NYSE: <a class="ticker" href="/stock/vnm#NYSE">VNM</a>), Guggenheim China Small-Cap ETF (NYSE: <a class="ticker" href="/stock/hao#NYSE">HAO</a>) and the ProShares Ultra FTSE China 25 (NYSE: <a class="ticker" href="/stock/xpp#NYSE">XPP</a>).

Forex play of the day: PowerShares DB Dollar Bullish (NYSE: <a class="ticker" href="/stock/uup#NYSE">UUP</a>).

Bond play of the day: Vanguard Total Bond Market ETF (NYSE: <a class="ticker" href="/stock/bnd#NYSE">BND</a>).

PowerShares DB US Dollar Index Bullish Fund

ETFs to Watch February 3, 2012

Direxion Daily Russia Bull 3x Shares (AMEX: <a class="ticker" href="/stock/rusl#AMEX">RUSL</a>) jumped 9.73% in the regular trading session, and it added additional 5.42% in the after hours. 

ProShares Ultra FTSE / Xinhua China 25 (AMEX: <a class="ticker" href="/stock/xpp#AMEX">XPP</a>) spiked 8.17%, and closed at $49.79. CNOOC Limited (ADR) (NYSE: <a class="ticker" href="/stock/ceo#NYSE">CEO</a>) is a component of the FTSE/Xinhua China 25 Index, and it gained 4.64%.

Powershares DB Crude Oil Double Short ETN (AMEX: <a class="ticker" href="/stock/dto#AMEX">DTO</a>) traded 7.36% higher today as crude oil struggled. DTO closed at $52.11, and it had a volume of 848K traded shares.

Direxion Daily Energy Bull 3X Shares(<a class="ticker" href="/stock/etf#">ETF</a>) (AMEX: <a class="ticker" href="/stock/erx#AMEX">ERX</a>) added 6.51%, and closed at $49.06. In the energy space, Schlumberger Limited (NYSE: <a class="ticker" href="/stock/slb#NYSE">SLB</a>) jumped 2.66%, and Tesoro Corporation (NYSE: <a class="ticker" href="/stock/tso#NYSE">TSO</a>) gained 4.63%.

PowerShares DB Crude Oil Double Short ETN

Aberdeen Emerging Markets Telecommunications & Infrastructure Fund

RUSL

Benzinga's Top ETF Gainers, October 26th (RUSL, XPP, DTO, ERX)

ProShares Ultra FTSE / Xinhua China 25 (NYSE: <a class="ticker" href="/stock/xpp#NYSE">XPP</a>) gained 10.07% on Tuesday, and it closed at $44.26. CNOOC Limited (ADR) (NYSE: <a class="ticker" href="/stock/ceo#NYSE">CEO</a>) jumped 4.58%, and SINA Corporation (<a class="ticker" href="/stock/usa#">USA</a>) (NASDAQ: <a class="ticker" href="/stock/sina#NASDAQ">SINA</a>) added 5.82%.

Direxion Daily Emerging Markets Bull 3x Shares(<a class="ticker" href="/stock/etf#">ETF</a>) (NYSE: <a class="ticker" href="/stock/edc#NYSE">EDC</a>) traded 9.43% higher today, and closed at $16.13. Banco Bradesco SA (ADR) (NYSE: <a class="ticker" href="/stock/bbd#NYSE">BBD</a>) is a component of the MSCI Emerging Markets Index, and it gained 3.44%.

Direxion Daily Russia Bull 3x Shares (NYSE: <a class="ticker" href="/stock/rusl#NYSE">RUSL</a>) jumped 8.59% on Tuesday, and it closed at $13.27. This was the third trading session in a row that RUSL closed higher. 

ProShares Ultra Silver (<a class="ticker" href="/stock/etf#">ETF</a>) (NYSE: <a class="ticker" href="/stock/agq#NYSE">AGQ</a>) added 6.94% today as silver traded higher. AGQ closed at $121.23, and it had a volume of 2.99M traded shares.

Direxion Daily Emerging Markets Bull 3x Shares

SINA

Benzinga's Top ETF Gainers, September 27th (XPP, EDC, RUSL, AGQ)

Direxion Daily Emerging Markets Bull 3x Shares(<a class="ticker" href="/stock/etf#">ETF</a>) (NYSE: <a class="ticker" href="/stock/edc#NYSE">EDC</a>) led the decliners among the ETFs on Monday, with a loss of 9.00%. EDC closed at $19.11, and it had a volume of 3.83M traded shares.

Direxion Daily Financial Bull 3X Shares(<a class="ticker" href="/stock/etf#">ETF</a>) (NYSE: <a class="ticker" href="/stock/fas#NYSE">FAS</a>) lost 7.28% today, and it closed at $13.06. In the financial sector, Morgan Stanley (NYSE: <a class="ticker" href="/stock/ms#NYSE">MS</a>) dropped 7.90%.

Direxion Daily Real Estate Bull 3X (<a class="ticker" href="/stock/etf#">ETF</a>) (NYSE: <a class="ticker" href="/stock/drn#NYSE">DRN</a>) fell 6.84% today as Vornado Realty Trust (NYSE: <a class="ticker" href="/stock/vno#NYSE">VNO</a>) dropped 3.02%, and Boston Properties, Inc. (NYSE: <a class="ticker" href="/stock/bxp#NYSE">BXP</a>) lost 2.91%.

ProShares Ultra FTSE / Xinhua China 25 (NYSE: <a class="ticker" href="/stock/xpp#NYSE">XPP</a>) dropped 6.44%, and closed at $49.26. CNOOC Limited (ADR) (NYSE: <a class="ticker" href="/stock/ceo#NYSE">CEO</a>) fell 3.87%, and PetroChina Company Limited (ADR) (NYSE: <a class="ticker" href="/stock/ptr#NYSE">PTR</a>) lost 2.46%.

Direxion Daily Real Estate Bull 3x Shares

Benzinga's Top ETF Decliners, September 19th (EDC, FAS, DRN, XPP)

Here is the ETF Professor's ETF Watch List for Thursday May 5, 2011. 

The most obvious of choices: SPDR Gold Shares (NYSE: <a class="ticker" href="/stock/gld#NYSE">GLD</a>), iShares Silver Trust (NYSE: <a class="ticker" href="/stock/slv#NYSE">SLV</a>), ProShares UltraShort Silver (NYSE: <a class="ticker" href="/stock/zsl#NYSE">ZSL</a>) and the PowerShares DB Gold Double Short ETN (NYSE: <a class="ticker" href="/stock/dzz#NYSE">DZZ</a>).

The Oil Services HOLDRs (AMEX: <a class="ticker" href="/stock/oih#AMEX">OIH</a>) could be in major trouble if support at $150 doesn't hold.

Solid inverse ideas: ProShares UltraShort S&amp;P500 (NYSE: <a class="ticker" href="/stock/sds#NYSE">SDS</a>) and the ProShares UltraShort DJ-UBS Crude Oil (NYSE: <a class="ticker" href="/stock/sco#NYSE">SCO</a>).

Emerging markets plays of the day: ProShares Ultra FTSE China 25 (NYSE: <a class="ticker" href="/stock/xpp#NYSE">XPP</a>), iShares MSCI Brazil Index Fund (NYSE: <a class="ticker" href="/stock/ewz#NYSE">EWZ</a>) and the Market Vectors Russia ETF (NYSE: <a class="ticker" href="/stock/rsx#NYSE">RSX</a>).

Forex play of the day: CurrencyShares Japanese Yen Trust (NYSE: <a class="ticker" href="/stock/fxy#NYSE">FXY</a>).

Bond play of the day: iShares Barclays 20+ Year Treasury Bond (NYSE: <a class="ticker" href="/stock/tlt#NYSE">TLT</a>).

Market Vectors Russia ETF Trust Shares of Beneficial Interest

iShares Trust Barclays 20+ Year Treasury Bond Fund

ETFs To Watch May 5, 2011 (DZZ, EWZ, FXY, SCO)

The total quantity of <a href="http://investwithanedge.com/list-of-223-new-etfs-for-2010" target="_blank">new product introductions in 2010 was 223</a>, consisting of 180 ETFs and 43 ETNs.  There were <a href="http://investwithanedge.com/list-of-49-etf-closures-for-2010" target="_blank">49 closures during the year</a>, putting the net increase of listings for 2010 at 174 (131 ETFs and 43 ETNs).
2010 enters the history books as the year with the third largest number of new introductions, the third largest number of closures, and the second largest number of net new listings.  Current records include the 291 introductions and 291 net new listings of 2007, and the 58 closures of 2008.
The high pace of new product introduction in late November carried over into the first nine days of December.  Then the new product well went dry.  Sponsors launched sixteen new ETFs and two ETNs in December.  The quantity of listed ETPs climbed as high as 1,109 during the month.  However, December 14 was the <a href="http://investwithanedge.com/powershares-closing-10-etfs-in-december" target="_blank">final day of trading for 10 PowerShares ETFs</a>, pushing the total back below 1,100 to end the year at 1,099 (967 ETFs and 132 ETNs).
Trading activity declined significantly for the month, with volume falling off after the December 17 session and remaining low through the holidays.  Total dollar volume for ETPs came in at just over $1.1 trillion, a huge -21.8% drop from the November level.  With 22 trading days for the month, the daily average was just $50.3 billion (a nearly 25% drop from November).
The number of ETFs in the Billion Dollar Club, those averaging more than one billion dollars in daily trading activity, decreased from ten to just six.  Products averaging more than $100 million per day came in at 62, four fewer than November. 
Assets in ETFs increased +6.5% to $994.5 billion.  When the ETN assets of $13.8 billion are added in, the combined total exceeds a trillion dollars for the first time.  The year-end total of $1.009 trillion represents a healthy +27.5% increase over year-end 2009.

<table class="wptable rowstyle-alt" id="wptable-86" cellspacing="1" cellpadding="2">
<thead>
<tr>
<th class="sortable" style="width:250px" align="left">December 2010 Month End</th>
<th class="sortable" style="width:70px" align="center">ETFs</th>
<th class="sortable" style="width:70px" align="center">ETNs</th>
<th class="sortable" style="width:70px" align="center">Total</th>
</tr>
</thead>
<tr>
<td style="width:250px" align="left">Currently Listed U.S.</td>
<td style="width:70px" align="center">967</td>
<td style="width:70px" align="center">132</td>
<td style="width:70px" align="center">1,099</td>
</tr>
<tr class="alt">
<td style="width:250px" align="left">Listed as of 12/31/2009</td>
<td style="width:70px" align="center">836</td>
<td style="width:70px" align="center">89</td>
<td style="width:70px" align="center">925</td>
</tr>
<tr>
<td style="width:250px" align="left">New Introductions for Month</td>
<td style="width:70px" align="center">16</td>
<td style="width:70px" align="center">2</td>
<td style="width:70px" align="center">18</td>
</tr>
<tr class="alt">
<td style="width:250px" align="left">Delistings/Closures for Month</td>
<td style="width:70px" align="center">10</td>
<td style="width:70px" align="center">0</td>
<td style="width:70px" align="center">10</td>
</tr>
<tr>
<td style="width:250px" align="left">Net Change for Month</td>
<td style="width:70px" align="center">+6</td>
<td style="width:70px" align="center">+2</td>
<td style="width:70px" align="center">+8</td>
</tr>
<tr class="alt">
<td style="width:250px" align="left">New Introductions YTD</td>
<td style="width:70px" align="center">180</td>
<td style="width:70px" align="center">43</td>
<td style="width:70px" align="center">223</td>
</tr>
<tr>
<td style="width:250px" align="left">Delistings/Closures YTD</td>
<td style="width:70px" align="center">49</td>
<td style="width:70px" align="center">0</td>
<td style="width:70px" align="center">49</td>
</tr>
<tr class="alt">
<td style="width:250px" align="left">Net Change YTD</td>
<td style="width:70px" align="center">+131</td>
<td style="width:70px" align="center">+43</td>
<td style="width:70px" align="center">+174</td>
</tr>
<tr>
<td style="width:250px" align="left">Actively-Managed (qty)</td>
<td style="width:70px" align="center">31</td>
<td style="width:70px" align="center">0</td>
<td style="width:70px" align="center">31</td>
</tr>
<tr class="alt">
<td style="width:250px" align="left">Assets Under Mgmt ($ billion)</td>
<td style="width:70px" align="center">$994.5</td>
<td style="width:70px" align="center">$14.3</td>
<td style="width:70px" align="center">$1,008.7</td>
</tr>
<tr>
<td style="width:250px" align="left">% Change in Assets</td>
<td style="width:70px" align="center">+6.5%</td>
<td style="width:70px" align="center">+6.7%</td>
<td style="width:70px" align="center">+6.5%</td>
</tr>
<tr class="alt">
<td style="width:250px" align="left">Monthly $ Volume ($ billion)</td>
<td style="width:70px" align="center">$1,094</td>
<td style="width:70px" align="center">$13.8</td>
<td style="width:70px" align="center">$1,108</td>
</tr>
<tr>
<td style="width:250px" align="left">% Change in Monthly $ Volume</td>
<td style="width:70px" align="center">-21.8%</td>
<td style="width:70px" align="center">-22.5%</td>
<td style="width:70px" align="center">-21.8%</td>
</tr>
<tr class="alt">
<td style="width:250px" align="left">Avg Daily $ Volume > $1 Billion</td>
<td style="width:70px" align="center">6</td>
<td style="width:70px" align="center">0</td>
<td style="width:70px" align="center">6</td>
</tr>
<tr>
<td style="width:250px" align="left">Avg Daily $ Volume > $100 Million</td>
<td style="width:70px" align="center">61</td>
<td style="width:70px" align="center">1</td>
<td style="width:70px" align="center">62</td>
</tr>
<tr class="alt">
<td style="width:250px" align="left">Avg Daily $ Volume > $10 Million</td>
<td style="width:70px" align="center">204</td>
<td style="width:70px" align="center">9</td>
<td style="width:70px" align="center">213</td>
</tr>
</table>

 Data sources:  AUM from National Stock Exchange, daily prices and volume of individual ETPs from Norgate Premium Data, fund counts and all other information compiled by Invest With An Edge. 
New products launched in December (in chronological order):
<ol>
<li>AdvisorShares Peritus High Yield ETF (<a class="ticker" href="/stock/hyld#">HYLD</a>) (<a href="http://investwithanedge.com/hyld-the-first-actively-managed-high-yield-etf" target="_blank">The First Actively Managed High Yield ETF</a>)</li>
<li>UBS E-TRACS Daily Long-Short VIX ETN (XVIX) (<a href="http://investwithanedge.com/xvix-the-first-volatility-strategy-etp" target="_blank">The First Volatility Strategy ETP</a>)</li>
<li>PowerShares KBW High Dividend Yield Financial Portfolio (KBWD) (<a href="http://investwithanedge.com/powershares-introduces-four-kbw-financial-etfs" target="_blank">PowerShares Introduces Four KBW Financial ETFs</a>)</li>
<li>PowerShares KBW International Financial Portfolio (KBWX)</li>
<li>PowerShares KBW Premium Yield Equity REIT Portfolio (KBWY)</li>
<li>PowerShares KBW Property &amp; Casualty Insurance Portfolio (KBWP)</li>
<li>ETFS Physical White Metal Basket Shares (WITE) (<a href="http://investwithanedge.com/etf-securities-brings-forth-the-white-metals-basket" target="_blank">ETF Securities Brings Forth The White Metals Basket</a>)</li>
<li>iShares Barclays 0-5 Year TIPS Bond Fund (STIP) (<a href="http://investwithanedge.com/stip-a-short-term-tips-etf-from-ishares" target="_blank">A Short-Term TIPS ETF From iShares</a>)</li>
<li>Rydex Russell 1000 Equal Weight ETF (EWRI) (<a href="http://investwithanedge.com/five-new-equal-weight-etfs-from-rydex" target="_blank">Five New Equal Weight ETFs From Rydex</a>)</li>
<li>Rydex Russell 2000 Equal Weight ETF (EWRS)</li>
<li>Rydex Russell Midcap Equal Weight ETF (EWRM)</li>
<li>Rydex MSCI EAFE Equal Weight ETF (EWEF)</li>
<li>Rydex MSCI Emerging Markets Equal Weight ETF (EWEM)</li>
<li>Direxion Daily Gold Miners Bull 2x Shares (NUGT) (<a href="http://investwithanedge.com/direxion-adds-leverage-to-market-vectors-gold-miners-gdx" target="_blank">Direxion Adds Leverage To GDX – Market Vectors Gold Miners</a>)</li>
<li>Direxion Daily Gold Miners Bear 2x Shares (DUST)</li>
<li>RBS US Large Cap Trendpilot ETN (TRND) (<a href="http://investwithanedge.com/rbs-enters-etn-arena-with-timed-sp-500" target="_blank">RBS Enters ETN Arena With Timed S&amp;P 500</a>)</li>
<li>Direxion Airline Shares (<a class="ticker" href="/stock/flyx#">FLYX</a>) (<a href="http://investwithanedge.com/direxion-airline-shares-take-off-into-turbulence" target="_blank">Direxion Airline Shares Take Off Into Turbulence</a>)</li>
<li>ProShares RAFI Long/Short (RALS) (<a href="http://investwithanedge.com/proshares-launches-rafi-longshort-etf-rals" target="_blank">ProShares Launches RAFI Long/Short ETF</a>)</li>
</ol>
 
Product closures/delistings in December:
<ol>
<li>PowerShares Dynamic Healthcare Services Portfolio (<a class="ticker" href="/stock/ptj#">PTJ</a>) (<a href="http://investwithanedge.com/powershares-closing-10-etfs-in-december" target="_blank">PowerShares Closing 10 ETFs in December</a>)</li>
<li>PowerShares Dynamic Telecommunications &amp; Wireless Portfolio (<a class="ticker" href="/stock/pte#">PTE</a>)</li>
<li>PowerShares FTSE NASDAQ Small Cap Portfolio (<a class="ticker" href="/stock/pqsc#">PQSC</a>)</li>
<li>PowerShares FTSE RAFI Europe Portfolio (<a class="ticker" href="/stock/pef#">PEF</a>)</li>
<li>PowerShares FTSE RAFI Japan Portfolio (<a class="ticker" href="/stock/pjo#">PJO</a>)</li>
<li>PowerShares Global Biotech Portfolio (<a class="ticker" href="/stock/pbtq#">PBTQ</a>)</li>
<li>PowerShares Global Progressive Transportation Portfolio (<a class="ticker" href="/stock/ptrp#">PTRP</a>)</li>
<li>PowerShares NASDAQ-100 BuyWrite Portfolio (<a class="ticker" href="/stock/pqbw#">PQBW</a>)</li>
<li>PowerShares NXQ Portfolio (<a class="ticker" href="/stock/pnxq#">PNXQ</a>)</li>
<li>PowerShares Zacks Small Cap Portfolio (<a class="ticker" href="/stock/pzj#">PZJ</a>)</li>
</ol>
 
Product changes in December:
<ol>
<li>Effective 12/16/10, FTSE changed the name of the FTSE/Xinhua China 25 Index to FTSE China 25 Index resulting in revised names for iShares FTSE China 25 Index Fund (<a class="ticker" href="/stock/fxi#">FXI</a>), ProShares Short FTSE China 25 (YXI), ProShares UltraShort FTSE China 25 (<a class="ticker" href="/stock/fxp#">FXP</a>), and ProShares  Ultra FTSE China 25 (<a class="ticker" href="/stock/xpp#">XPP</a>)</li>
<li>Effective 12/20/10, State Street SPDRs changed the name, ticker, and underlying index of seven equity ETFs and the name and index of two bond ETFs (<a href="http://investwithanedge.com/state-street-abandons-dow-jones-style-box-etfs" target="_blank">State Street Abandons Dow Jones Style-Box ETFs</a>)</li>
</ol>
 
Announced Product Changes for Coming Months:
<ol>
<li>Market Vectors Nuclear Energy ETF (<a class="ticker" href="/stock/nlr#">NLR</a>) will change its name to Market Vectors Uranium+Nuclear Energy ETF (<a class="ticker" href="/stock/nlr#">NLR</a>) effective 1/5/11.</li>
</ol>
Previous monthly ETF statistics reports are available <a href="http://investwithanedge.com/category/etf-statistics" target="_blank">here</a>.
Disclosure covering writer, editor, publisher, and affiliates: No positions in any of the securities mentioned. No positions in any of the companies or ETF sponsors mentioned.  No income, revenue, or other compensation (either directly or indirectly) received from, or on behalf of, any of the companies or ETF sponsors mentioned.
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FLYX

HYLD

PBTQ

PNXQ

PQBW

PQSC

PowerShares Dynamic Healthcare Services Portfolio

PTRP

PowerShares Exchange-Traded Fund Trust PowerShares Zacks Small Cap Portfolio

ETF Stats for December 2010: 1,099 and $1 Trillion

ProShares UltraShort Silver (<a class="ticker" href="/stock/etf#">ETF</a>) (NYSE: <a class="ticker" href="/stock/zsl#NYSE">ZSL</a>) dropped 6.14% today, as silver futures continued to move higher. This was the eight trading session in a row that ZSL closed in the positive territory. 
Direxion Daily 30-Year Treasury Bear 3X Shares (NYSE: <a class="ticker" href="/stock/tmv#NYSE">TMV</a>) fell 4.24%, and closed at $41.58. It had a volume of 772K traded shares, and its average volume is 866K traded shares.
ProShares Ultra FTSE / Xinhua China 25 (NYSE: <a class="ticker" href="/stock/xpp#NYSE">XPP</a>) lost 2.57%, as China Life Insurance Company Ltd. (ADR) (NYSE: <a class="ticker" href="/stock/lfc#NYSE">LFC</a>) dropped 0.88%. XPP closed at $64.25, and it had a volume of 584K traded shares.
iShares MSCI Spain Index (<a class="ticker" href="/stock/etf#">ETF</a>) (NYSE: <a class="ticker" href="/stock/ewp#NYSE">EWP</a>) lost 2.23% today, and closed at $37.64. Banco Santander, S.A. (ADR) (NYSE: <a class="ticker" href="/stock/std#NYSE">STD</a>) is a component of the MSCI Spain Index, and it dropped 3.38%.

Direxion Daily 20+ Year Treasury Bear 3X Shares

Benzinga's Top ETF Decliners (ZSL, TMV, XPP, EWP)

Here is the ETF Professor's ETF Watch List for Tuesday November 30, 2010.
Obviously, the iShares MSCI Spain Index Fund (NYSE: <a class="ticker" href="/stock/ewp#NYSE">EWP</a>) and the iShares MSCI Italy Index Fund (NYSE: <a class="ticker" href="/stock/ewi#NYSE">EWI</a>) are in play.
Energy was a bright spot in the market on Monday, so keep an eye on the Oil Services HOLDRs (AMEX: <a class="ticker" href="/stock/oih#AMEX">OIH</a>).
Financials kind of showed up on Monday, so track the Direxion Daily Financial Bull 3X Shares (NYSE: <a class="ticker" href="/stock/fas#NYSE">FAS</a>) today.
Emerging markets plays of the day: Market Vectors Vietnam ETF (NYSE: <a class="ticker" href="/stock/vnm#NYSE">VNM</a>), WisdomTree India Earnings ETF (NYSE: <a class="ticker" href="/stock/epi#NYSE">EPI</a>) and the ProShares Ultra FTSE/Xinhua China 25 (NYSE: <a class="ticker" href="/stock/xpp#NYSE">XPP</a>).
Forex play of the day: PowerShares DB US Dollar Index Bullish ETF (NYSE: <a class="ticker" href="/stock/uup#NYSE">UUP</a>).
Bond play of the day: Direxion Daily 20+ Yr Treasury Bull 3X Shares (NYSE: <a class="ticker" href="/stock/tmf#NYSE">TMF</a>)

Direxion Daily 20+ Year Treasury Bull 3X Shares

ETFs To Watch November 30, 2010 (EWI, EPI, UUP, TMF)

Here is the ETF Professor's ETF Watch List for Friday November 5, 2010. 
As a play on the jobs report, try the Consumer Discretionary Select Sector SPDR (NYSE: <a class="ticker" href="/stock/xly#NYSE">XLY</a>). 
The Direxion Daily Financial Bull 3X Shares (NYSE: <a class="ticker" href="/stock/fas#NYSE">FAS</a>) was up more than 9% on Thursday.
Metals plays: Global X Copper Miners ETF (NYSE: <a class="ticker" href="/stock/copx#NYSE">COPX</a>) and the Global X Silver Miners ETF (NYSE: <a class="ticker" href="/stock/sil#NYSE">SIL</a>).
Emerging markets plays of the day: Market Vectors Russia ETF (NYSE: <a class="ticker" href="/stock/rsx#NYSE">RSX</a>), WisdomTree India Earnings ETF (NYSE: <a class="ticker" href="/stock/epi#NYSE">EPI</a>) and the ProShares Ultra FTSE/Xinhua China 25 (NYSE: <a class="ticker" href="/stock/xpp#NYSE">XPP</a>).
Forex play of the day: CurrencyShares Australian Dollar Trust (NYSE: <a class="ticker" href="/stock/fxa#NYSE">FXA</a>).
Bond play of the day: SPDR Barclays Capital High Yield Bond ETF (NYSE: <a class="ticker" href="/stock/jnk#NYSE">JNK</a>).
One more leveraged play: Direxion Daily Small Cap Bull 3X Shares (NYSE: <a class="ticker" href="/stock/tna#NYSE">TNA</a>).

COPX

Select Sector SPDR-Consumer Discretionary

ETFs To Watch November 5, 2010 (COPX, XPP, JNK, EPI)

Direxion Daily 30-Year Treasury Bear 3X Shares (NYSE: <a class="ticker" href="/stock/tmv#NYSE">TMV</a>) closed 5.81% higher in the regular trading session on Wednesday, but it fell 1.04% in the after hours. TMV had a volume of 1.49M traded shares. 
ProShares Ultra FTSE / Xinhua China 25 (NYSE: <a class="ticker" href="/stock/xpp#NYSE">XPP</a>) added 4.40%, and closed at $86.82. CNOOC Limited (ADR) (NYSE: <a class="ticker" href="/stock/ceo#NYSE">CEO</a>) is a component of the FTSE/Xinhua China 25 Index, and it traded 0.94% higher.
Direxion Daily Semiconductor Bull 3X Shares (NYSE: <a class="ticker" href="/stock/soxl#NYSE">SOXL</a>) traded 3.30% higher on the strength in the semiconductor sector. Novellus Systems, Inc. (NASDAQ: <a class="ticker" href="/stock/nvls#NASDAQ">NVLS</a>) gained 2.32% today, and Texas Instruments Incorporated (NYSE: <a class="ticker" href="/stock/txn#NYSE">TXN</a>) added 1.35%.
ProShares Ultra DJ-UBS Crude Oil (NYSE: <a class="ticker" href="/stock/uco#NYSE">UCO</a>) jumped 2.58% as crude oil traded higher after Fed stimulus move. UCO closed at $11.12, and had a volume of 5.88M traded shares.

NVLS

SOXL

Benzinga's Top ETF Gainers (TMV, XPP, SOXL, UCO)

Here is the ETF Professor's ETF Watch List for Thursday October 21, 2010. 
Airlines were strong on Wednesday, so watch the Guggenheim Airline ETF (NYSE: <a class="ticker" href="/stock/faa#NYSE">FAA</a>) for follow through.
The Market Vectors Junior Gold Miners (NYSE: <a class="ticker" href="/stock/gdxj#NYSE">GDXJ</a>) was up by almost 3.6% on Wednesday.
The ProShares Ultra DJ-UBS Crude Oil (NYSE: <a class="ticker" href="/stock/uco#NYSE">UCO</a>) was up more than 5% on Wednesday.
Another materials play to watch: iShares S&amp;P Global Materials ETF (NYSE: <a class="ticker" href="/stock/mxi#NYSE">MXI</a>).
Emerging markets plays of the day: Direxion Daily Latin America Bull 3X Shares (NYSE: LBJ), ProShares Ultra FTSE/Xinhua China 25 (NYSE: <a class="ticker" href="/stock/xpp#NYSE">XPP</a>) and the iShares MSCI Taiwan Index Fund (NYSE: <a class="ticker" href="/stock/ewt#NYSE">EWT</a>).
Forex play of the day: ProShares Ultra Euro (NYSE: <a class="ticker" href="/stock/ule#NYSE">ULE</a>).
Bond play of the day: SPDR Barclays Capital International Treasury Bond ETF (NYSE: <a class="ticker" href="/stock/bwx#NYSE">BWX</a>).

GDXJ

iShares S&P Global Materials Sector Index Fund

ETFs To Watch October 21, 2010 (FAA, BWX, EWT, GDXJ)

Here is the ETF Professor's ETF Watch List for Thursday October 14, 2010.
The Global X Copper Miners ETF (NYSE: <a class="ticker" href="/stock/copx#NYSE">COPX</a>) is breaking out in a big way.
Another materials ETF that is looking really good is the iShares S&amp;P Global Materials ETF (NYSE: <a class="ticker" href="/stock/mxi#NYSE">MXI</a>).
Play the Yahoo (Nasdaq: <a class="ticker" href="/stock/yhoo#Nasdaq">YHOO</a>) rumors with the Technology Select Sector SPDR (NYSE: <a class="ticker" href="/stock/xlk#NYSE">XLK</a>) and the First Trust Dow Jones Internet Index Fund (NYSE: <a class="ticker" href="/stock/fdn#NYSE">FDN</a>).
With small-caps looking strong, have a look at the iShares S&amp;P SmallCap 600 Index Fund (NYSE: <a class="ticker" href="/stock/ijr#NYSE">IJR</a>).
Emerging markets plays of the day: iShares MSCI Chile Investable Market Index Fund (NYSE: <a class="ticker" href="/stock/ech#NYSE">ECH</a>), Direxion Daily Latin America Bull 3X Shares (NYSE: LBJ) and the ProShares Ultra FTSE/Xinhua China 25 (NYSE: <a class="ticker" href="/stock/xpp#NYSE">XPP</a>).
Forex play of the day: CurrencyShares Australian Dollar Trust (NYSE: <a class="ticker" href="/stock/fxa#NYSE">FXA</a>).
Bond play of the day: SPDR Barclays Capital High Yield Bond ETF (NYSE: <a class="ticker" href="/stock/jnk#NYSE">JNK</a>).

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ProShares Ultra FTSE China 50

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ProShares Ultra FTSE China 50 (ARCA:XPP), Quote.Headers.trade-ideas