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FactorShares 2X: Gold Bull/S&P500 Bear Spread ETF
The FactorShares 2x gold bull/S&P 500 bear ETF (NYSE Arca: FSG) is a double long gold ETF, although technically it is a Spread ETF or a paired ETF that takes a leveraged long position in gold futures and a leveraged bear position in E-mini S&P 500 futures contracts in order to produce daily returns that are 2x the spread or difference in the returns of those two asset classes. In other words, it seeks to deliver +200% of the daily return of the Gold Bull/ S&P500 Bear Index.
In order to achieve its goal and to maintain the proper size of the long gold and short S&P 500 positions, the manager of the FSG ETF does a daily rebalancing of the holdings at 1:30 PM EST which is also the NAV calculation time. According to Factorshares, "the Fund is not suitable for all investors and should be used only by knowledgeable investors who understand the potential consequences of seeking daily leveraged investment results".
FactorShares 2X: Gold Bull/S&P500 Bear Spread ETF (FSG) vital stats:
Symbol: FSG Exchange: NYSE Arca Expense Ratio: 0.75% CUSIP: 30304T106 Fund Net Assets: ~ $25 Million as of August 2011 Dividend Yield: NA Options: Yes Inception Date: 2/24/2011
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