ProShares Launches First Inverse TIPS ETF
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Expands popular lineup of geared Treasury ETFs
Bethesda, MD, February 10, 2011 — ProShares, a premier provider of alternative exchange traded funds (ETFs), today announced the launch of the first ETF that provides inverse exposure to U.S. Treasury Inflation-Protected Securities (TIPS).
The ProShares UltraShort TIPS (NYSEArca: TPS) seeks to provide -2x of the daily return of the Barclays Capital U.S. Treasury Inflation Protected Securities (TIPS) Index (Series-L), before fees, expenses and interest income. The ETF lists on NYSE Arca today.
"Fueled by expectations of rising long-term interest rates, our inverse Treasury ProShares have garnered more than $7 billion since launching less than three years ago," said Michael L. Sapir, Chairman and CEO of ProShare Advisors LLC, ProShares' investment advisor. "Our new fund, the first inverse TIPS ETF, is a new tool for investors considering hedging against or seeking to benefit from declines in TIPS prices."
TPS expands the ProShares lineup of geared Treasury ETFs to six. The lineup now includes four funds offering short exposure and two that offer magnified exposure to Barclays Capital U.S. Treasury Indexes.
| ProShares | Ticker Symbol | Index | Objective* |
|---|---|---|---|
| New Treasury ETF | |||
| UltraShort TIPS | TPS | Barclays Capital U.S. Treasury Inflation Protected Securities (TIPS) Index (Series-L) |
-2x |
| Existing Treasury ETFs | |||
| UltraShort 7-10 Year Treasury | PST | Barclays Capital 7-10 Year U.S. Treasury Index |
-2x |
| UltraShort 20+ Year Treasury | TBT | Barclays Capital 20+ Year U.S. Treasury Index |
-2x |
| Short 20+ Year Treasury | TBF | Barclays Capital 20+ Year U.S. Treasury Index |
-1x |
| Ultra 20+ Year Treasury | UBT | Barclays Capital 20+ Year U.S. Treasury Index |
+2x |
| Ultra 7-10 Year Treasury | UST | Barclays Capital 7-10 Year U.S. Treasury Index |
+2x |
*Before fees, expenses and interest income.
About ProShares
ProShares is a premier provider of alternative ETFs, with 115 funds and nearly $24 billion in assets. ProShares offers the largest family of geared (leveraged and inverse) ETFs1. ProShares is part of ProFunds Group, which was founded in 1997 and includes nearly $31 billion in mutual fund and ETF assets2.
Media contact:
Tucker Hewes, Hewes Communications, Inc., (212) 207-9451, tucker@hewescomm.com
Leveraged and inverse ProShares and ProFunds seek returns that are multiples or inverse multiples (e.g., 2x, -2x) of the return of an index or other benchmark (target) for a single day. Due to the compounding of daily returns, leveraged and inverse ProShares’ and ProFunds’ returns over periods other than one day will likely differ in amount and possibly direction from the target return for the same period. Investors should monitor their holdings consistent with their strategies, as frequently as daily. For more on correlation, leverage and other risks, please read the ProShares or ProFunds prospectus.
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Feb 10, 20111 Source: Lipper, based on a worldwide analysis of all of the known providers of funds in these categories. The analysis covered ETFs, ETNs and mutual funds by the number of funds and assets as of 6/30/2010.
2 Number of funds and assets as of 1/01/2011.