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|
|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.|
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