Cinthia Murphy

Cinthia Murphy is managing editor of ETF.com, specializing in all things ETFs. Her experience includes time at Dow Jones and former BridgeNews, covering commodity futures markets in Chicago and Brazil equities in Sao Paulo. Murphy has a bachelor’s degree in journalism from the University of Missouri-Columbia.

Features and News

SSgA Offers High-Yield Muni ETF

SSgA high-yield muni ETF to go mano a mano with Van Eck’s HYD.

Features and News

ProShares Debuts Bull Bond Plays

ProShares, the Bethesda, Md.-based firm known for its leveraged and inverse exchange-traded funds, today launched a pair of double-exposure bond ETFs canvassing high-yield and investment-grade corporate debt, a first for U.S. ETF investors.

The ProShares Ultra High Yield ETF (NYSEArca: UJB) and the ProShares Ultra Investment Grade Corporate ETF (NYSEArca: IGU) allow investors to make concentrated bullish bets on bonds at a time when the market seems to be bracing for the end of the Federal Reserve’s easy money policies. Tighter credit would put downward pressure on bond prices, particularly on debt with longer maturities.

ProShares’ new funds come on the heels of the company’s March launch of the market’s first inverse plays on the same corporate bond indexes, which the company billed as useful tools for investors to deal with the possibility of what it called a bond bubble burst.

UJB is designed to provide investors with twice the daily performance of its Markit iBoxx benchmark, a modified market-value-weighted index that tracks dollar-denominated high-yield corporate bonds. It joins the ProShares Short High Yield ETF (NYSEArca: SJB), which provides single-inverse exposure to that same benchmark. SJB, like many inverse and leveraged funds, rebalances daily.

The Markit iBoxx index comprises bonds from issuers that have at least $1 billion in total outstanding debt; have particular bond issues with at least $400 million of outstanding face value; and have debt with three to 15 years to maturity, ProShares said.

Similarly, IGU joins the ProShares Short Investment Grade Corporate ETF (NYSEArca: IGS), an inverse play on IGU’s index, the Markit iBoxx $ Liquid Investment Grade Index. That benchmark comprises investment-grade bonds from issuers with at least $3 billion in outstanding debt; individual debt issues of at least $750 million of outstanding face value; and bonds with at least three years to maturity.

The new ETFs, like all ProShares funds, have annual expense ratios of 0.95 percent.

 

Features and News

Van Eck Launches Small-Cap Russia ETF

Van Eck serves up a Russian equity ETF with less emphasis on energy.

Features and News

ProShares Launches Inverse Corp. Bond ETF

If a bond market sell-off is around the corner, ProShares appears ready for it.

Features and News

US Housing Recession Goes On

Housing prices are still falling, with no end yet in sight.

Features and News

Barclays: Developed Markets Back In Vogue

The U.S. looks much more promising now that emerging markets are heating up, Barclays says.