March 31, 2011 at 02:00 AM EDT
ProShares Launches Short Investment Grade Corporate Bond ETF (IGS)
ProShares, the largest issuer of inverse and leveraged ETFs, continues to build out the portion of its product lineup offering opportunities to gain short exposure to fixed income securities. The new Short Investment Grade (IGS) will seek to deliver daily results that correspond to the inverse of the iBoxx $ Liquid Investment Grade Index, a benchmark is a modified market-value weighted index designed to provide a balanced representation of U.S. dollar-denominated investment grade corporate bonds. That benchmark serves as the underlying to the iShares iBoxx $ Investment Grade Corporate Bond Fund (LQD), which has nearly $13 billion in assets. “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 highs, and credit spreads have tightened significantly,” said Michael L. Sapir, Chairman and CEO of ProShare Advisors LLC, ProShares’ investment advisor. “For [...] Click here to read the original article on ETFdb.com. Related Posts: Direxion Debuts Short Aggregate Bond, Treasury ETFs ProShares Debuts Short Junk Bond ETF (SJB) ProShares Files For Short Bond ETFs Bond ETF Ideas: Room For Growth In Fixed Income Arena Recapping Impressive Innovation In Bond ETF Space
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