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.

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.