ZBIO - PROSHR ULTPRO SH
The ProShares UltraPro Short Nasdaq Biotechnology (the "ETF") seeks daily investment results, before fees and expenses, that correspond to three times the inverse (-3x) of the daily performance of the NASDAQ Biotechnology Index (the "Index").
The Index is a modified capitalzation-weighted index that includes securities of The NASDAQ Stock Market listed companues that are classified as either biotechnology or pharmaceutical. The securities also meet other eligibility criteria determined by the NASDAQ OMX Group Inc., including minimum market capitalization and liquidty requirements.
The ETF seeks to remain fully invested at all times in securities and/or financial instruments that, in combination, provide inverse leveraged exposure to the Index without regard to market conditions, trends or direction.
Further information: http://www.proshares.com/funds/zbio.html