ProShares added two new exchange traded funds (ETFs) to their lineup, and both offer 200% leverage to the daily performance of their underlying long-term and intermediate-term Treasury bond indexes.

The new ETFs are the ProShares Ultra 20+ Year Treasury (NYSEArca: UBT) and the ProShares Ultra 7-10 Year Treasury (NYSEArca: UST). [How leveraged and inverse ETFs work.]

The two funds join three other ETFs from the provider that focus on the bond market. One of those funds is the ProShares Ultra Short 20+Year Treasury ETF (NYSEArca: TBT), which has been particularly successful, attracting $4.6 billion in less than two years, according to Ron on Benzinga.

Be aware that leveraged and inverse ETFs work differently than traditional funds. They can be a useful tool for short-term traders who understand how they work, so be sure to understand them before you buy. [Another twist on the leveraged ETF in the works.]

For more stories about new ETFs, visit our new ETF category.

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