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Michael L Sapir, Chairman and CEO of ProShare Advisors LLC

ProShares launches first inverse investment grade corporate bond ETF

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The ProShares Short Investment Grade Corporate (NYSE: IGS) seeks to provide -1x the daily performance of the Markit iBoxx $ Liquid Investment Grade Index, before fees and expenses.

The ProShares Short Investment Grade Corporate (NYSE: IGS) seeks to provide -1x the daily performance of the Markit iBoxx $ Liquid Investment Grade Index, before fees and expenses. The ETF lists on NYSE Arca from 29 March.

“There are signs that investment grade corporate bonds could possibly be richly valued relative to historical levels. Since the financial crisis, investment grade corporate bond indexes have reached record highs1, and credit spreads have tightened significantly,” says Michael L Sapir, Chairman and CEO of ProShare Advisors LLC, ProShares’ investment advisor. “For investors who believe that investment grade corporates could come under pressure, IGS can be used to help hedge against or to seek to benefit from potential declines.”

IGS expands ProShares’ popular lineup of inverse bond ETFs to six. ProShares’ four inverse Treasury bond ETFs have garnered more than USD7 billion of assets since launching less than three years ago. The firm launched its fifth inverse bond fund, ProShares Short High Yield (NYSE: SJB), last week.

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