ProFunds Advisors has plans to launch funds that will bet against the performance of some international indexes. The funds allow the firm to fill gaps in its suite of leveraged funds with international offerings, said Gus Fleites, chief investment officer. "We put out tools to allow financial professionals to express views on the market. We're market agnostic," he added.

The Short Emerging Markets, Short International and Short Japan funds will each attempt to return 100% of the opposite of benchmark returns. The UltraShort International fund also planned will return 200% of the opposite of benchmark returns. The Japan fund is based on the Nikkei 225 Stock Average, while the others are based on the MSCI EAFE and Emerging Markets Indexes. Minimum investments are $5,000 if purchased through an adviser or $15,000 if purchased without an adviser. Potomac Funds also plans to launch a fund that bets against international indexes (www.fundaction.com, 11/23).