ProShares Launches Two New Inverse Treasury ETFs
< Back to Press Releases
Expands Lineup of Inverse Bond ETFs to Eight
Bethesda, MD, April 5, 2011—ProShares, a premier provider of alternative exchange traded funds (ETFs), today announced the launch of two new ETFs that provide inverse exposure to the U.S. Treasury market.
The ProShares UltraShort 3-7 Year Treasury (NYSE: TBZ) is the first ETF in the United States to provide inverse exposure to the 3-7 year segment of the U.S. Treasury market. TBZ seeks to provide -2x the daily performance of the Barclays Capital U.S. 3-7 Year Treasury Bond Index, before fees and expenses. The ProShares Short 7-10 Year Treasury (NYSE: TBX) seeks to provide -1x the daily performance of the Barclays Capital U.S. 7-10 Year Treasury Bond Index, before fees and expenses. Both ETFs list on NYSE Arca today.
"Our lineup of inverse bond ETFs has been extremely popular, garnering more than $7 billion of assets since launching less than three years ago," said Michael L. Sapir, Chairman and CEO of ProShare Advisors LLC, ProShares' investment advisor. "We are pleased to add two additional ETFs to the set of tools available to investors concerned about a possible pullback in bonds."
TBZ and TBX bring ProShares' lineup of inverse bond ETFs to eight. Six of the eight ETFs are benchmarked to a Treasury bond index. One is benchmarked to a high yield bond index (NYSE: SJB) and one to an investment grade bond index (NYSE: IGS). SJB and IGS both launched in the past two weeks.
| ProShares | Ticker Symbol | Index | Daily Objective* |
|---|---|---|---|
| New Inverse Bond ETFs | |||
|
Barclays Capital U.S. 3-7 Year |
-2x |
||
|
Barclays Capital U.S. 7-10 Year |
-1x |
||
| Existing Inverse Bond ETFs | |||
| UltraShort 20+ Year Treasury | TBT | Barclays Capital U.S. 20+ Year Treasury Bond Index |
-2x |
| Short 20+ Year Treasury | TBF | Barclays Capital U.S. 20+ Year Treasury Bond Index |
-1x |
| UltraShort 7-10 Year Treasury | PST | Barclays Capital U.S. 7-10 Year Treasury Bond Index |
-2x |
| UltraShort TIPS | TPS | Barclays Capital U.S. Treasury Inflation Protected Securities (TIPS) Index (Series-L) |
-2x |
|
Markit iBoxx $ Liquid High Yield Index |
-1x |
||
|
Markit iBoxx $ Liquid Investment Grade Index |
-1x |
||
*Before fees and expenses.
About ProShares
ProShares is a premier provider of alternative ETFs, with 119 funds and more than $26 billion in assets. ProShares offers the largest family of geared (leveraged and inverse) ETFs.1 ProShares is part of ProFunds Group, which was founded in 1997 and includes more than $32 billion in mutual fund and ETF assets.2
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, and rebalance if necessary. A rebalancing strategy involves transaction costs and may have tax consequences.
Investor contact:
ProShares, 866-776-5125, www.ProShares.com
1 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 Assets as of 3/11/2011.