Some trends go up, some go down. ProFunds UltraShort Emerging Markets is a mutual fund that shorts the Bank of New York Emerging Markets index. One day when the emerging markets sell off like hot cakes and keeps going down, this fund will reward its investors handsomely. In the meantime its investors have to hold the bag and bleed.
The investment seeks daily investment results that correspond to twice the inverse of the daily performance of the Bank of New York Emerging Markets 50 ADR index. The fund invests at least 80% of assets to financial instruments with economic characteristics that, in combination, should be inverse to those of the index. It typically employs leveraged investment techniques in seeking its investment objective. The fund invests assets which are not invested in equity securities or financial instruments in debt instruments or money market instruments. It is nondiversified. [via Google Finance]
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