ProShares gives investors another way to bet against U.S. Treasurys

ProShares Advisors LLC announced today the launch of a third exchange traded fund that lets investors bet on a downturn in long-term U.S. Treasury bonds. The Bethesda, Md.-based firm already holds more than $25 billion of the $35 billion market in leveraged and inverse ETFs. The ProShares Short 20+ Year Treasury (TBF) is designed to produce 100% of the inverse performance of the Barclays Capital 20+ Year U.S. Treasury Index for a single day. The new fund is “in direct response to strong investor demand for a single beta short Treasury fund,” company chairman and chief executive Michael Sapir said in a statement. He was not immediately available for further comment. ProShares' two other fixed income products offer 200% the inverse performance of their benchmarks. The UltraShort 7-10 Year Treasury (PST) is designed to produce 200% of the inverse performance of the Barclays Capital 7-10 Year U.S. Treasury Index, while the UltraShort 20+ Year Treasury (TBT) is designed to produce 200% of the inverse performance of the Barclays Capital 20+ Year U.S. Treasury Index.