ProShares Advisors announced today the launch of a third ETF that lets investors bet on a downturn in long-term U.S. Treasury bonds.
The firm already holds more than $25 billion of the $35 billion market in leveraged and inverse ETFs.
The ProShares Short 20+ Year Treasury is designed to produce 100% of the inverse performance of the Barclays Capital 20+ Year U.S. Treasury index for a single day.
The new fund is “in direct response to strong investor demand for a single beta short Treasury fund,” company Chairman and CEO Michael Sapir said in a statement. He was not immediately available for further comment.
ProShares' two other fixed-income products offer 200% the inverse performance of their benchmarks.
The UltraShort 7-10 Year Treasury is designed to produce 200% of the inverse performance of the Barclays Capital 7-10 Year U.S. Treasury index, while the UltraShort 20+ Year Treasury is designed to produce 200% of the inverse performance of the Barclays Capital 20+ Year U.S. Treasury index.
Jeff Benjamin is a reporter for InvestmentNews, a sister publication of Pensions & Investments.
