The issuer of the EZJ ETF, or the ProShares Ultra MSCI Japan ETF, is ProShare Advisors. This financial institution specializes in creating and managing exchange-traded funds (ETFs) that aim to provide leveraged exposure to various market indices. The ProShares Ultra MSCI Japan ETF seeks to deliver daily returns that are two times (2x) the daily performance of the MSCI Japan Index, as reflected by its Bloomberg ticker symbol MXJP.
While the focus of the ProShares Ultra MSCI Japan ETF (EZJ) primarily revolves around achieving daily returns consistent with its investment objective, it's important to note that this ETF does not distribute dividends directly. The fund invests in a combination of financial instruments, such as equity securities, exchange-traded funds (ETFs), derivatives, money market instruments, and depositary receipts, in an effort to achieve leveraged exposure to the single day returns of the MSCI Japan Index. As a result of its daily rebalancing strategy, the return on investment over periods longer than a single day may differ significantly from twice the daily return of the underlying index. Investors should be aware that any income generated by this ETF may primarily come from the underlying securities' performance and may not be distributed in the form of regular dividends.
Tracking the MSCI Japan 85% Leveraged Index is the primary objective of the EZJ Tracking ETF. This ETF is managed by ProShare Advisors and seeks to provide daily returns that are double the performance of the MSCI Japan 85% Leveraged Index. To achieve this goal, EZJ Tracking invests in a combination of financial instruments, including equity securities of Japanese public companies, exchange-traded funds (ETFs), derivatives, money market instruments, and depositary receipts such as American Depositary Receipts (ADRs) and Global Depositary Receipts (GDRs). The fund employs a mathematical approach to ensure its portfolio aligns with its daily investment objective, and it engages in daily rebalancing to maintain consistent exposure to the index. It's important to note that EZJ Tracking seeks to achieve its investment results for a single day only and may not necessarily correspond to two times the index's return over a longer period due to factors like compounding and daily rebalancing. Investors considering this ETF should carefully evaluate the associated risks and refer to the fund's prospectus for further details.
The correlation aspect of the ProShares Ultra MSCI Japan ETF (EZJ) is essential for investors looking to understand its performance in relation to the Japanese equity market. EZJ aims to provide double the daily returns of the MSCI Japan Index, which means its correlation with the index is expected to be extremely high. This strong correlation makes EZJ a useful tool for short-term trading strategies and for investors seeking leveraged exposure to Japanese equities. Analyzing EZJ's correlation with other assets can provide insights into the broader market trends and help investors make informed decisions.
The EZJ Sector ETF primarily invests in financial instruments with the goal of producing daily returns consistent with its investment objective. It tracks the MSCI Inc. Index, which adjusts the market capitalization of its constituents for free float and targets 85% inclusion of the free float-adjusted market capitalization in Japan. This ETF predominantly invests in equity securities of public companies, shares of other ETFs, derivatives for leveraged returns, money market instruments, and depositary receipts. It employs a mathematical approach to investing and aims to remain fully invested at all times to provide leveraged exposure to the single day returns of the Index. However, daily rebalancing and compounding can result in returns that differ from two times the Index's performance for longer periods, and the Fund may incur losses regardless of the Index's performance due to various factors, including volatility. As of May 31, 2022, the Index was focused on the industrials and consumer discretionary industry groups in Japan. Please refer to the Fund's Prospectus for additional details on its investment objectives, strategies, and risks.
The exposure characteristic of the EZJ ETF is primarily focused on providing investors with exposure to Japanese equities. The fund seeks to track the MSCI Japan Index, which is designed to represent the performance of the Japanese stock market. By investing in a diverse range of Japanese companies across various sectors, EZJ offers a comprehensive way for investors to gain exposure to the Japanese market. For more detailed information about the fund''s holdings, sector allocation, and specific stock exposure, investors can utilize the ETF Insider web app, which provides deep and insightful data on US ETFs, including EZJ, with easy-to-use visualization tools to identify overlaps, correlations, and more.
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