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.

Subscribe to our free daily newsletters!
Please enter your email address to subscribe to ETF Trends' newsletters featuring latest news and educational events.