UltraShort TIPS
ProShares UltraShort TIPS seeks daily investment results, before fees and expenses, that correspond to twice (200%) the inverse (opposite) of the daily performance of the Barclays Capital U.S. Treasury Inflation Protected Securities (TIPS) Index (Series-L).
Product Menu:
Index/Benchmark Summary
The Barclays Capital U.S. Treasury Inflation Protected Securities (TIPS) Index (Series-L) includes all publicly issued, U.S. Treasury inflation protected securities ("TIPS") that have at least one year remaining maturity, are non-convertible, are denominated in U.S. dollars, are rated investment grade (at least Baa3 by Moody's Investors Service or BBB- by S&P), are fixed rate, and have more than $250 million or more par value outstanding. The Index is weighted by the relative market value of all securities meeting the Index criteria and the securities of the Index are updated on the last calendar day of each month. TIPS are the inflation indexed bonds issued by the U.S. Treasury. The principal is adjusted by a designated inflation index, such as the consumer price index, the commonly used measure of inflation. The coupon rate is constant, but generates a different amount of interest when multiplied by the inflation-adjusted principal, thus protecting the holder against inflation. The Index is published under the Bloomberg ticker symbol LBUTTRUU.
As of 3/31/12
Fundamentals
| Total Number of Constituents | Modified Adjusted Duration | Weighted Average Maturity | Average Yield to Maturity |
Weighted Average Coupon * |
Weighted Average Price |
|---|---|---|---|---|---|
| 33 | 6.18 Years | 9.16 Years | 1.92% | 1.71% | $117.16 |
* = Derivative contracts are priced to reflect the underlying index yield but may generate interest income.
| Top 10 Index Constituents ‡ | Weight |
|---|---|
| U.S. Treasury Notes I/L, 04/15/2016, 0.125% | 6.04% |
| U.S. Treasury Notes I/L, 07/15/2021, 0.625% | 5.70% |
| U.S. Treasury Notes I/L, 01/15/2021, 1.125% | 5.45% |
| U.S. Treasury Notes I/L, 07/15/2020, 1.25% | 4.79% |
| U.S. Treasury Bonds I/L, 01/15/2025, 2.375% | 4.12% |
| U.S. Treasury Bonds I/L, 02/15/2041, 2.125% | 3.54% |
| U.S. Treasury Bonds I/L, 04/15/2029, 3.875% | 3.50% |
| U.S. Treasury NotesI/L, 04/15/2015, 0.5% | 3.35% |
| U.S. Treasury Notes I/L, 07/15/2013, 1.875% | 3.17% |
| U.S. Treasury Notes I/L, 01/15/2014, 2% | 3.12% |
‡ ProShares may invest in financial instruments (including derivatives) that, in combination, should have similar daily price return characteristics to the fund's benchmark.