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ProShares UltraPro 10 Year TIPS/TSY Spread ETF (UINF)

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  • Dec. 30, 2014, 7:56 AM
    • The 17 amount to more than 11% of the ProShares family of 150 funds, and many of those to be closed are leveraged and inverse strategies. None of the 17 had gathered any sort of significant level of assets.
    • The ETFs will stop trading on January 9 and liquidation proceeds should be distributed on or about January 22.
    • The list: FINF, UINF, SINF, UKW, SDK, UVU, SJL, UKF, SFK, UVG, SJF, UKK, SKK, UVT, SJH, UWC, TWQ.
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  • Jun. 25, 2014, 4:41 AM
    • Expectations of U.S. and euro zone break-even rates seem to be heading in opposite directions, as investors wager on opposing consumer price outlooks. The break-even rates, as measured by the difference between yields on 10-year nominal Treasury notes and TIPs, are at about 2.3% in the U.S. This greatly differs in the euro zone, where Germany reports a rate of 1.3%.
    • TIPs are expected to gain in popularity over the next year, as break-evens expect to rise in par with U.S. inflation. However, the euro zone is currently dealing with a falling inflation rate. Despite the European Central Bank instituting a 2% inflation mandate, annual inflation in the euro zone was only 0.5% in May.
    • ETFs: TIP, WIP, VTIP, SCHP, IPE, LTPZ, STPZ, TIPZ, STIP, ILB, ITIP, GTIP, TPS, TDTT, TIPX, TDTF, SIPE, RINF, INFL, UINF, FINF, DEFL, SINF
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  • Jul. 31, 2013, 3:31 PM
    • TIPS (TIP +0.6%) turn from lower on the session to a sizable gain following the FOMC statement where the committee brought previous dissenter Jim Bullard on board by noting inflation below the 2% objective could pose a risk to the economy.
    • The 10-year TIPS yield is down to 0.42% from 0.48% earlier, the 30-year down to 1.34% from 1.4%.
    • TIPS, of course, become more valuable as inflation rises as their principal moves alongside.
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  • Jun. 22, 2013, 9:30 AM
    It's "total capitulation" in fixed income (AGG, BND), says BAML's Michael Hartnett. The "blood bath" includes the largest-ever three-week rush of bond-fund redemptions, $2.6B leaving (2nd largest outflow ever) the Emerging Markets Bond ETF (EMB), and mortgage-backed securities (MBB), municipal bonds (MUB), and TIPS (TIP) funds each now showing net outflows for 2013.
    | 47 Comments
  • Jun. 12, 2013, 4:26 PM
    Add TIPS (TIP) to the list of safe-havens proving to be anything but as this sort of inflation-protection doesn't work when rates rise but inflation doesn't. The rout has sent the yield on 10-year TIPS into positive territory for the first time since Dec. 2011, reports Carolyn Cui. Investors have pulled $7.2B out of TIPS ETFs this year, already more than the $5.2B inflow for all 2012.
    | 3 Comments
  • Jun. 4, 2013, 4:42 PM
    More Gundlach (previous): "I really dislike TIPS (TIP) and have really disliked them recently." There's no inflation, which makes them a lousy investment, he says, but even if you think there's going to be inflation, why not wait and buy them at a far lower price.
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  • May. 30, 2013, 3:39 PM
    State Street launches the SPDR 1-10 Year TIPS ETF (TIPX), set to track the Barclays 1-10 Year Government Inflation-linked Bond Index. It appears similar in structure to another State Street TIPS fund (IPE), but with an expense ratio 3.5 bps lower at 0.15%. Also launched is the SPDR S&P Global Dividend ETF (WDIV), set to track the S&P Global Dividend Aristocrats Index. It has a cost of 0.40% and joins competitors DEW and LVL, each of those with coming with slightly higher costs.
    | 1 Comment
  • May. 15, 2013, 3:40 PM
    More from Gundlach: Not concerned about inflation, he calls TIPS (TIP) "pretty bad" investments and says he'll be a buyer if the 10-year (TLT) yield bounces back to 2% (off 3 bps today to 1.94%). As for the inevitable Apple (AAPL -3.3%) question - he prefers the common stock to the just-issued bonds. Warren Buffett says he prays for stocks he owns to go down in price - it allows him and company repurchase programs to buy at better prices. Is Apple putting money to work the last couple of days?
    | 15 Comments
  • Apr. 26, 2013, 3:26 PM
    TIPS have mostly rebounded from a recent selloff, but Barclays spots an opportunity at the short-end of the curve. Some 1-year notes are expected to fall in price next week when they fall out of the Barclays U.S. TIPS Index (which must drop them when less than a year to maturity). The ensuing forced selling by funds such as the TIP could create a bargain price for buyers.
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  • Apr. 19, 2013, 12:48 PM
    Bill Gross takes advantage of the recent selloff in TIPS (TIP) to add to his holdings, noting the break-even rate for longer-dated paper has fallen to 2.35% (if inflation comes in above this number, TIPS outperform Treasurys). Yesterday's Treasury auction of TIPS was a mess, with one trader calling the action a "get me out" trade. Gross is getting in.
    | 1 Comment
  • Apr. 15, 2013, 1:42 PM
    Gold isn't the only inflation hedge losing fans as funds owning TIPS have seen 3 straight months of outflows, according to Morningstar, the first such streak since 2008. At current levels, 5-year TIPS (TIP) would break even only if inflation rises more than 2.18% annually. "We just don't see (it)," says formerly bullish strategist Dan Heckman, whose fund has been a seller of late.
    | 1 Comment
  • Jan. 25, 2013, 3:24 PM
    Inflation-protected securities have duration as well. Today's selloff in Treasurys (TLT -1.5%) is also taking a bite out of TIPS (TIP -0.5%). Meanwhile, Morningstar launches its Real Asset Index which will hold a portfolio of TIPS, REITs, and commodity stocks and futures. Perhaps an ETF will soon be launched to track it.
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  • Dec. 19, 2012, 3:27 PM
    Bill Gross (BOND) is "lightening positions" in MBS after they've been a big winner for his funds this year (interesting: the MBB has actually declined since the Fed began QE∞). He's also cutting back on his holdings of corporate paper (LQD). Expecting the Fed to eventually produce higher inflation, he's added to his holdings of TIPS (TIP), while cutting back on non-inflation protected Treasurys.
    | 3 Comments
  • Dec. 12, 2012, 4:36 PM
    Treasurys have a tough day following the Fed's decision to pour on the liquidity, the price on the 10-year note falling nearly half a point following the FOMC announcement. Inflation-protected securities continue to be a (relatively) excellent place to hide out, with TIP -0.3% against TLT's 1.2% decline. No inflation worries? TIPS have outperformed Treasurys of a similar maturity by a wide margin this year.
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  • Dec. 6, 2012, 11:28 AM
    No inflation? It's another record-high for the TIPS Bond Fund (TIP) as inflation-protected securities continue to outperform Treasurys of a similar maturity (a run stretching back to Sept. 2011). Thus far this year, TIP has posted a total return of better than 8%.
    | 1 Comment
  • Nov. 21, 2012, 11:47 AM
    The Treasury sells $13B in 10-year TIPS priced to yield -0.72% vs. a when-issued yield of -0.76%. Bid-to-cover ratio of 2.53 vs. a recent 2.35; indirect bidders take down 48% vs. a recent 43.8%, direct bidders 10.3%. TIP -0.3%.
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UINF Description
ProShares UltraPro 10 Year TIPS/TSY Spread seeks daily investment results, before fees and expenses, that correspond to three times (3x) the daily performance of the Dow Jones Credit Suisse 10-Year Inflation Breakeven Index.
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Country: United States
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