ProShares has launched its first exchange-traded fund that provides an inverse exposure to U.S. Treasury Inflation-Protected Securities (TIPS). The ProShares UltraShort TIPS aims to provide -2x of the daily return of the Barclays Capital U.S. Treasury Inflation Protected Securities Index, before fees, expenses and interest income.

The new portfolio, listed on the NYSE Arca, is a tool for investors considering hedging against or seeking to benefit from declines in TIPS prices. It also expands the ProShares lineup of geared Treasury ETFs to six.

Click here for the release from Business Wire.