The fund, listed on Nasdaq, aims to deliver twice the daily performance of the Nasdaq 100 Equal Weighted Index while reducing mega-cap concentration.

Maryland-based exchange-traded fund (ETF) provider ProShares has expanded its product suite with the launch of the ProShares Ultra QQQ Equal Weight ETF (EQQQ). The fund has been trading on Nasdaq since 21 July  The fund targets 2x (200%) the daily returns of the Nasdaq 100 Equal Weighted Index, which consists of the same securities as the Nasdaq 100 but resets each company to an equal weight at each quarterly rebalance. The index reduces mega-cap concentration and increases the relativ