Sapir: We've been focused for number of years now on developing products that have a broader potential appeal. Our most successful products have been our Dividend Grower funds, which are products that arguably could fit into almost any investor portfolio. And now with some of the thematics that we've introduced, we're offering additional products that are not designed for tactical use. They’re buy-and-hold products that have an investment thesis that could make sense for a lot of investors.
You look at something like our pet care ETF that has the ticker PAWZ. Some people might say, ‘Well, that's kind of a cutesy ticker.’ But if you look at the underlying investment proposition of investing in pet care, it has a lot of credibility. People are spending a lot of money on their pets, and it's not just basic spending—it’s high-end spending. And you can see the success that many pet-care providers are experiencing. Owners of pets may be attracted to the fund because they're buying what they know, but I think that the broader investment thesis make sense.
ETFA: Do you have any role in coming up with ticker symbols? Were you behind PAWZ?
Sapir: I was not.
ETFA: Have you dabbled in ticker symbols?
Sapir: I don't think there's anyone in the ETF industry who hasn't at least had some thoughts about tickers. One of the fun parts of putting together an ETF is coming up with the ticker, and you’re looking for a ticker that obviously is memorable and relates to your product.
ETFA: ProShares is consistently around ninth or 10th among U.S. ETF providers. Are you satisfied with your place in the industry and the role ProShares serves?
Sapir: Absolutely. We're not looking to be a, let's call it, a big box-store provider of ETFs. We’re looking to provide value-added products that can help people build better portfolios. Obviously, there's a place for the plain-beta products. But there's also a place for products that can deliver something different and something value-added, and we plan to continue to introduce products that fit those criteria.