ProShares Files For Arbitrage, Private Equity ETFs (PSP, MNA)

ProShares, the fifth-largest U.S. ETF issuer by assets at the end of February, has filed plans with the Securities and Exchange Commission to possibly introduce two new ETFs that would expand the company's lineup of non-leveraged and non-inverse products. Maryland-based ProShares has filed plans for the ProShares Listed Private Equity ETF and the ProShares Merger Arbitrage ETF. Tickers and expense ratios for the funds were not included in the filings. The ProShares Listed Private Equity ETF would appear to be a possible rival to the PowerShares Global Listed Private Equity Portfolio PSP. That ETF has been around since 2006 and has over $290 million in assets under management despite sporting an expense ratio 2.55%. PSP has risen almost 19% year-to-date. The ProShares Merger Arbitrage ETF would be walking into a rivalry with the IndexIQ Merger Arbitrage ETF MNA. MNA debuted in November 2009 and has an expense ratio of 0.76%. Current top-10 holdings in MNA include El Paso EP and Illumina ILMN.