ProShares Launches First ETFs Providing Magnified Exposure to the High Yield and Investment Grade Corporate Bond Markets
14 Avril 2011 - 3:30PM
Business Wire
ProShares, a premier provider of alternative exchange traded
funds (ETFs), today announced the launch of the first ETFs that
provide magnified exposure to the high yield and investment grade
corporate bond markets.
ProShares Ultra High Yield (NYSE: UJB) seeks to provide 2x the
daily performance of the Markit iBoxx® $ Liquid High Yield Index,
before fees and expenses. ProShares Ultra Investment Grade
Corporate (NYSE: IGU) seeks to provide 2x the daily performance of
the Markit iBoxx® $ Liquid Investment Grade Index, before fees and
expenses. Both ETFs list on NYSE Arca today.
“On the heels of launching the first inverse ETFs on the high
yield and investment grade corporate bond markets, we are pleased
to offer the first leveraged ETFs on these segments of the fixed
income landscape,” said Michael L. Sapir, Chairman and CEO of
ProShare Advisors LLC, ProShares' investment advisor. “With today’s
launch, knowledgeable investors now have an even larger suite of
geared ETFs to help manage their exposures to high yield and
investment grade corporate bonds.”
ProShares launched the first inverse high yield bond ETF,
ProShares Short High Yield (NYSE: SJB), and the first inverse
investment grade corporate bond ETF in the United States, ProShares
Short Investment Grade Corporate (NYSE: IGS), in the past
month.
ProShares Ticker Symbol
Index Daily Objective*
New Leveraged High Yield and Investment Grade Corporate Bond
ETFs Ultra High Yield UJB
Markit iBoxx® $Liquid HighYield Index
2x
Ultra InvestmentGrade Corporate
IGU
Markit iBoxx® $LiquidInvestmentGrade
Index
2x
Existing Inverse High Yield and
Investment Grade Corporate Bond ETFs
Short High Yield SJB
Markit iBoxx® $Liquid HighYield Index
-1x
Short InvestmentGrade Corporate
IGS
Markit iBoxx® $LiquidInvestmentGrade
Index
-1x
* Before fees and expenses
About ProShares
ProShares is a premier provider of alternative ETFs, with 121
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
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 4/1/2011.
These ProShares ETFs seek returns that are either 2x or -1x the
return of an index or other benchmark (target) for a single
day. Due to the compounding of daily returns, leveraged and
inverse 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. For more on correlation, leverage and
other risks, please read the prospectus.
Disclosure:
Investing involves risk, including the possible loss of
principal. ProShares are non-diversified and entail certain
risks, including risk associated with the use of derivatives (swap
agreements, futures contracts and similar instruments), imperfect
benchmark correlation, leverage and market price variance, all of
which can increase volatility and decrease performance. Bond values
will fall when interest rates rise. High yield bonds may involve
greater levels of interest rate, credit, liquidity and valuation
risk than for higher-rated instruments. Short ProShares should lose
money when their benchmarks or indexes rise. See the prospectus for
a more complete description of risks. There is no guarantee any
ProShares ETF will achieve its investment objective.
Carefully consider the investment objectives, risks, charges
and expenses of ProShares before investing. This and other
information can be found in their summary and full prospectuses.
Read them carefully before investing. Obtain them at
www.proshares.com.
The Markit iBoxx® $ Liquid High Yield Index is a
modified market-value weighted index designed to provide a balanced
representation of U.S. dollar-denominated high yield corporate
bonds for sale within the United States by means of including the
most liquid high yield corporate bonds available as determined by
the index provider. The Markit iBoxx® $ Liquid Investment Grade
Index is a modified market-value weighted index designed to provide
a balanced representation of U.S. dollar-denominated investment
grade corporate bonds publicly offered in the United States by
means of including the most liquid investment grade corporate bonds
available as determined by the index provider. iBoxx® is a
registered trademark of Markit Indices Limited and has been
licensed for use by ProShares. Markit does not approve, endorse or
recommend ProShares Ultra High Yield, ProShares Ultra Investment
Grade Corporate, ProShares Short High Yield or ProShares Short
Investment Grade Corporate, and Markit makes no representation
regarding the suitability of investing in any ProShares ETF.
ProShares are distributed by SEI Investments Distribution Co.,
which is not affiliated with ProShare Advisors.
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