ProShares - UltraShort FTSE China 50
FXP
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- ProShares UltraShort FTSE China 50 (FXP), an exchange-traded fund managed by ProShare Advisors LLC, seeks daily investment results that correspond to twice the inverse (-2x) of the daily performance of the FTSE China 50 Index. The FTSE China 50 Index measures the performance of the 50 largest and most liquid companies listed on the Hong Kong Stock Exchange, comprising large-cap stocks across diversified sectors including financials, energy, telecommunications, and consumer goods. FXP achieves its investment objective through derivatives such as swaps on the iShares FTSE China Large-Cap ETF (FXI) and other financial instruments, providing leveraged inverse exposure to Chinese equities for sophisticated investors seeking short-term bearish positions; it offers options trading availability, quarterly distributions, and a net expense ratio of 0.95% (with contractual waivers through September 30, 2026). The fund, part of ProShares Trust and domiciled in the United States, targets institutional and retail investors focused on trading-inverse equity strategies, with shares listed on NYSE Arca. Launched on November 6, 2007, FXP operates primarily in U.S. markets but provides exposure to Hong Kong-listed Chinese companies. In a significant operational change, ProShares announced and implemented a 1-for-2 reverse share split for FXP, effective prior to market open on November 20, 2025, to increase the share price and reduce outstanding shares while preserving shareholder value; this action applied to shareholders of record as of November 18, 2025, resulting in a new CUSIP (74350P576). No recent partnerships, acquisitions, funding rounds, or new product launches specific to FXP have been reported in the past 1-2 years.