ProShares has launched two new exchange-traded funds, the ProShares Ultra High Yield and the ProShares Ultra Investment Grade Corporate funds. The firm says it is they are the first ETFs to offer exposure to the two fixed income asset classes.

The high yield fund seeks to offer 2x the daily performance of the Markit iBoxx Liquid High Yield Index, and the investment grade fund seeks to offer 2x the daily performance of the Markit iBoxx Liquid Investment Grade Index.

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