An exchange-traded fund providing inverse exposure to Treasury inflation-protected securities was introduced Thursday by ProShares.
The ProShares UltraShort TIPS ETF is designed for investors seeking to hedge against or benefit from declines in TIPS prices, according to a ProShares statement.
The new ETF seeks to provide twice the inverse of, or negative two times, the daily return of the Barclays Capital U.S. Treasury Inflation Protected Securities Index (Series-L), before fees, expenses and interest income.
ProShares is a unit of ProFunds Group, a mutual fund and ETF company.
ProShares officials declined to comment.