ProShares Short High Yield Bond ETF
The ProShares Short High Yield Bond ETF (SJB) is a short high yield corporate bond ETF whose goal is to deliver the daily inverse (negative) performance of the iBoxx® $ Liquid High Yield Index before fees and expenses or interest income. The SJB ETF may be ideal for investors who believe that high yield corporate bond prices, as measured by the iBoxx index above, are about to pull back. High yield bonds (also known as junk bonds) tend to be bonds that are below investment grade as rated by the major credit rating agencies such as Moody's and S&P. High yield bond prices typically decline as the economy heads into a recession and a short bond ETF, such as SJB, may be one way to profit from declining bond prices.
Because the SJB ETF seeks to deliver the daily inverse performance of its underlying index, it is important to note that over longer time periods extending for more than one day, the SJB short high yield bond ETF may exhibit some tracking error that may be material.
The ProShares Short High Yield Bond ETF (SJB) vital stats:
Exchange: NYSE Arca
Expense Ratio: 0.95%
Dividend Yield: NA
Assets: New as of 3/21/2011
Options: Not Available
Inception Date: 3/21/2011
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