Short Term USD Emerging Markets Bond ETF - EMSH Short Term USD Emerging Markets Bond ETF

ProShares Short Term USD Emerging Markets Bond ETF seeks investment results, before fees and expenses, that track the performance of the DBIQ Short Duration Emerging Market Bond IndexSM.

  • Designed to offer the attractive yield potential of emerging markets bonds with less interest rate sensitivity than a long-term bond fund.
  • May reduce U.S. interest rate risk by holding short term bonds, which are generally less sensitive to rising rates.
  • Helps investors diversify across emerging market countries by accessing the U.S. dollar-denominated global bond market.

Index/Benchmark Summary

The index is composed of a diversified portfolio of USD-denominated emerging markets bonds that have less than five years remaining to maturity ("short term USD emerging markets bonds") that are issued by emerging markets sovereign governments ("sovereigns"), non-sovereign government agencies and entities ("sub-sovereigns"), and corporations with significant government ownership ("quasi-sovereigns"). Those countries qualifying as "emerging markets" are determined by the index provider; the index currently includes bonds from sovereigns or other qualifying entities domiciled in 19 such countries.

The index is designed to represent the more liquid universe of short term USD emerging markets bonds. The bonds eligible for inclusion in the index are expected to include those issued by emerging markets sovereigns, sub-sovereigns and quasi-sovereigns that: (1) are fixed rate; and (2) have between zero and five years remaining to maturity. Eligible bonds will also have a minimum face amount outstanding of $500 million. Callable, putable, zero coupon, inflation-linked and convertible bonds, among others, will be excluded. The index includes both investment grade and below investment grade rated (i.e., "high yield") securities and will include bonds, in the aggregate, that have a dollar weighted average years-to-maturity of three years or less.

The index maintains certain issuer weight caps for diversification purposes, including limiting the weights of issuers from any particular country to no more than ten percent (10%) of the index. The index is reconstituted and rebalanced on a quarterly basis; cash from maturing issues or coupon payments is reinvested monthly.

Yield as of 12/31/20

Weighted Average Yield to Maturity 2.34%

Fundamentals as of 12/31/20

Total Number of Issues 259
Modified Duration 2.37 Years
Weighted Average Maturity 2.58 Years
Weighted Average Coupon 4.75%
Weighted Average Price $107.68
Monthly Index Volatility 0.84%