ProShares is changing the name and index of its inflation exchange traded fund, currently known as the ProShares 30 Year TIPS/TSY Spread (NYSEArca: RINF).
On April 15, RINF will drop its current index, the Credit Suisse 30-Year Inflation Breakeven Index, in favor of the Citi 30-Year TIPS (Treasury Rate-Hedged) Index. The ETF will also change its name to the ProShares Inflation Expectations ETF.
The ETF’s ticker will remain the same and no other changes are being made.
“RINF’s objective will be to seek investment results, before fees and expenses, that track the performance of the Citi 30-Year TIPS (Treasury Rate-Hedged) Index. Both the current and the new index consist of long positions in TIPS and short positions in Treasurys, and are measures of the 30-year breakeven rate of inflation or BEI. The 30-year BEI is considered to be a measure of the market’s expectations for inflation over the next 30 year,” according to a statement issued by ProShares.[related_stories]