ProShares Introduces Inverse Junk Bond ETF

ProShares, the largest issuer of leveraged and inverse ETFs, has introduced the first-ever inverse junk bond

, the ProShares Short High Yield

. SJB started trading today and will attempt to replicate 1x the daily inverse performance of the Markit iBoxx $ Liquid High Yield Index. With the debut of SJB, ProShares now has five inverse bond ETFs in its lineup. ProShares' four existing inverse bond ETFs, which are benchmarked to Treasuries, have garnered more than $7 billion of assets since launching less than three years ago, the company said in a statement. Those ETFs include the UltraShort 20+ Year Treasury

and the Short 20+ Year Treasury

. ProShares issues 116 ETFs with $26 billion in assets under management.