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The Markets March 22, 2011
ProShares Launches Inverse High Yield Bond ETF
ProShares launched what it says is the first exchange-traded
fund (ETF) that provides inverse exposure to the high yield bond market.
Reported by PLANADVISER staff
The ProShares Short High Yield (NYSE Arca: SJB) seeks to provide -1x the daily performance of the Markit iBoxx $ Liquid High Yield Index, before fees and expenses, a press release said.
SJB expands ProShares’ popular lineup of inverse bond ETFs to five.
“For investors who believe that high yield bonds are ripe for a pullback, SJB can be used to help hedge against or to seek to benefit from potential declines,” said Michael L. Sapir, Chairman and CEO of ProShare Advisors LLC, ProShares’ investment adviser.