On Friday morning, reports were released that Apple (AAPL) would be joining the Dow Jones Industrial Average, and iconic telecommunications company AT&T would be removed from the index. This highly anticipated addition of Apple has gained the attention of many investors, who are focused on how the change will impact the Dow, and Apple.

This week, we have chosen the ProFunds Ultra Dow 30 Fund (UDPIX) as our fund of the week.

The ProFunds Ultra Dow 30 Fund was launched in 2002 and is managed by Rachel Ames and Michael Neches. The fund currently has $33.5 million in assets under management (AUM).

The fund tracks the Dow Jones Industrial Average, and is composed the companies in the index. It’s largest sector holdings are financial services, industrials, and consumer cyclical stocks.

Since the announcement that Apple would join the Dow, the index has not exceeded 18,000.

Historical Performance

Largest Holdings

Mutual fund investors that are bullish on the latest Dow 30 shakeup may consider a Dow-focused mutual fund like the ProFunds Ultra Dow 30 Fund. To learn more about index funds, check out How Index Mutual Funds Work.

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