ProShares, an alternative exchange traded fund provider known for its inverse and leveraged products, launched a new geared long-term Treasury ETF, extending its current line of inverse Treasury funds as the investments attract greater attention on the heels of rising interest rates.

ProShares UltraPro Short 20+ Year Treasury (NYSEArca: TTT) began trading last week. The fund tries to reflect three times the inverse, or -300%, daily performance of the Barclays Capital U.S. 20+ Year Treasury Index. It achieves it daily exposure through derivatives and swaps.

TTT has an expense ratio of 0.95%.

Inverse and leveraged products are not suitable for all investors. They are rebalanced daily and are intended as short-term hedging tools. Due to compounding effects, the long term performance on geared products will not perfectly reflect movements in the underlying asset.

The new -3x ETF joins ProShares popular -2x and -1x long-term Treasury ETFs, the ProShares UltraShort 20+ Year Treasury (NYSEArca: TBT) and ProShares Short 20+ Year Treasury (NYSEArca: TBF), respectively.

“Interest in TBT and our other inverse Treasury ETFs has been strong, with many investors concerned about the potential for rising rates,” Michael L. Sapir, Chairman and CEO of ProShare Advisors LLC, ProShares’ investment advisor, said in the press release. “We are pleased to add TTT to our lineup of ETFs for investors seeking to help hedge against or potentially benefit from declines in long-term Treasuries.” [Is It Finally Time to Short Treasuries with ETFs?]

For more information on new launches, visit our new ETFs category.

Max Chen contributed to this article.

The opinions and forecasts expressed herein are solely those of Tom Lydon, and may not actually come to pass. Information on this site should not be used or construed as an offer to sell, a solicitation of an offer to buy, or a recommendation for any product.