ProShares has launched the ProShares UltraShort TIPS exchange-traded fund, which seeks to deliver -2x the daily return of the Barclays U.S. Treasury Inflation Protected Securities Index.

“Fueled by expectations of rising long-term interest rates, our inverse Treasury ProShares have garnered more than $7 billion since launching less than three years ago,” said Michael L. Sapir, chairman and CEO of ProShare Advisors. “Our new fund, the first inverse TIPS ETF, is a new tool for investors considering hedging against or seeking to benefit from declines in TIPS prices.”

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