Short Investment Grade Corporate
ProShares Short Investment Grade Corporate seeks daily investment results, before fees and expenses, that correspond to the inverse (opposite) of the daily performance of the Markit iBoxx® $ Liquid Investment Grade Index.
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Index/Benchmark Summary
Markit iBoxx® $ Liquid Investment Grade Index is a modified market-value weighted index designed to provide a balanced representation of U.S. dollar-denominated investment grade corporate bonds publicly offered in the United States by means of including the most liquid investment grade corporate bonds available as determined by the index provider. Currently, the bonds eligible for inclusion in the Index include U.S. dollar-denominated corporate bonds publicly offered in the United States that are issued by companies domiciled in the U.S., Bermuda, Canada, Cayman Islands, Western Europe or Japan; are rated investment grade by Moody’s Investors Service, Inc., Fitch, Inc. or Standard and Poor’s Financial Services, LLC; are from issuers with at least $3 billion par outstanding; have at least $750 million of outstanding face value; and have at least three years remaining to maturity. There is no limit to the number of issues in the Index. Index rebalances occur monthly.
As of 3/31/12
Fundamentals
| Total Number of Constituents | Modified Adjusted Duration | Weighted Average Maturity | Average Yield to Maturity |
Weighted Average Coupon * |
Weighted Average Price |
|---|---|---|---|---|---|
| 821 | 7.46 Years | 11.56 Years | 4.21% | 5.45% | $112.77 |
* = Derivative contracts are priced to reflect the underlying index yield but may generate interest income.
| Top 10 Index Constituents ‡ | Weight |
|---|---|
| Kraft Foods Inc., 02/10/20, 5.375% | 0.36% |
| Altria Group Inc., 11/10/18, 9.7% | 0.35% |
| General Electric Capital Corp., 01/14/38, 5.875% | 0.35% |
| Pfizer Inc., 03/15/19, 6.2% | 0.34% |
| Wal-Mart Stores Inc., 08/15/2037, 6.5% | 0.33% |
| Kraft Foods Inc., 02/09/40, 6.5% | 0.32% |
| Shell International Finance BV, 12/15/2038, 6.375% | 0.32% |
| Pacific Gas & Electric Co., 03/01/2034, 6.05% | 0.31% |
| American International Group Inc., 08/15/18, 8.25% | 0.31% |
| ConocoPhillips Co., 02/01/2039, 6.5% | 0.31% |
‡ ProShares may invest in financial instruments (including derivatives) that, in combination, should have similar daily price return characteristics to the fund's benchmark.
| Index Sector Weightings ± | Weight |
|---|---|
| Financials | 35.69% |
| Consumer Services | 12.79% |
| Oil & Gas | 11.21% |
| Telecommunications | 9.01% |
| Consumer Goods | 8.65% |
| Health Care | 7.67% |
| Technology | 5.48% |
| Industrials | 4.02% |
| Basic Materials | 3.90% |
| Utilities | 1.58% |
± Sum of weightings may not equal 100% due to rounding.