ProShares, a provider of alternative exchange-traded funds, has launched the ProShares Ultra Australian Dollar (GDAY) and ProShares UltraShort Australian Dollar (CROC), the first ETFs in the US providing magnified or inverse exposure to the Australian dollar.

GDAY seeks to provide 2x the daily performance of the US dollar price of the Australian dollar, before fees and expenses.

CROC seeks to provide -2x the daily performance of the US dollar price of the Australian dollar, before fees and expenses.

“The Australian dollar is one of the world’s most actively traded currencies,” says Michael L. Sapir, chairman and chief executive of ProShare Capital Management, the sponsor of the funds. “We are pleased to offer investors additional ways to manage risk or potentially take advantage of moves in this widely followed currency market.”

The introduction of GDAY and CROC brings ProShares’ line-up of geared currency ETFs to seven.