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Shorting Inflation Protection With ProShares' Newest ETF
Ron Rowland • Mon, Feb 14, 2011
ProShares Launches UltraShort TIPS Fund
Michael Johnston • Fri, Feb 11, 2011

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The Bond Market Vigilantes Are Still Not In The Same Hemisphere As We Are
Brad DeLong • Thu, Jun 13 • 1 Comment
Bonds And The 'Convexity' Trade
The Inflation Trader • Thu, May 30 • 18 Comments
PCE Price Index Update: The Disinflationary Trend Continues
Doug Short • Tue, Apr 30 • 2 Comments
Time For A Deflation Hedge?
Brad Zigler • Tue, Apr 23 • 26 Comments
To TIP Or Not To TIP
Howard Gold • Thu, Apr 11 • 8 Comments
2 Measures Of Inflation: New Update
Doug Short • Sun, Feb 24 • 6 Comments
Inflation: A 5-Month X-Ray View
Doug Short • Fri, Feb 22 • 1 Comment
What Inflation Means To You: Inside The CPI
Doug Short • Fri, Feb 22 • 2 Comments
Inflation Remains Tame Year-Over-Year, But Core Inflation Jumped In January
Doug Short • Thu, Feb 21
Whip Inflation Now
Brad Zigler • Mon, Dec 10, 2012 • 20 Comments
Fight The Inflation Boogeyman
Axel Merk • Wed, Oct 3, 2012 • 21 Comments
The 3 Most Overvalued Assets
Howard Gold • Thu, Sep 27, 2012 • 12 Comments
Hide Under A Rock And Inflate The Bond Bubble
Nigam Arora • Tue, Jun 5, 2012 • 5 Comments
Positioning A Portfolio For Rising Rates
Dan Morillo • Fri, Apr 6, 2012 • 16 Comments
Why You Should Trash This Government Bond
InvestingAnswers • Wed, Feb 22, 2012 • 3 Comments
TIPS And Puzzles Of The CPI
Ivan Kitov • Tue, Feb 21, 2012
Are Short Treasury ETFs Due For A Rebound?
Andrew Boral • Wed, Dec 28, 2011 • 2 Comments
The New Abnormal: Inflation Expectations And The Stock Market
James Picerno • Tue, Oct 18, 2011 • 1 Comment
CPI Report Brings TIPS ETFs Into Focus
Eric Dutram • Thu, Sep 15, 2011
ETF Deathwatch For September 2011: Ben Graham Has Left The Building
Ron Rowland • Mon, Sep 12, 2011 • 2 Comments

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TPS vs. ETF Alternatives

TPS Description

ProShares UltraShort TIPS seeks daily investment results, before fees and expenses, and interest income earned on cash and financial instruments, that correspond to twice (200%) the inverse (opposite) of the daily performance of the Barclays Capital U.S. Treasury Inflation Protected Securities (TIPS) Index (Series-L).
See more details on sponsor's website

Country: United States

Key Info

In Your Portfolio: A Guide to U.S. Government Bond ETFs
Asset Class Performance: Bonds

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| Earnings
| Dividends
| M&A
| On the move

Wednesday, June 12, 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 [U.S. Economy]
Tuesday, June 4, 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. Comment!
Thursday, May 30, 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
Wednesday, May 15, 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 [Tech]
Friday, April 26, 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. Comment!
Friday, April 19, 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 [U.S. Economy]
Monday, April 15, 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 [Financials, U.S. Economy]
Friday, January 25, 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. Comment! [U.S. Economy]
Wednesday, December 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 [U.S. Economy, Financials]
Wednesday, December 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. Comment! [U.S. Economy]
Thursday, December 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 [U.S. Economy]
Wednesday, November 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%. Comment! [U.S. Economy]
Wednesday, October 17, 2012, 9:12 AM TIPS investors have another fund to choose from as Vanguard's Short-Term Inflation Protected Securities ETF (VTIP) traded 30K shares on its launch yesterday. The fund's fee is 0.10% vs. similar funds STIP and STPZ which charge 0.20%. 1 Comment [U.S. Economy]
Thursday, September 20, 2012, 1:23 PM Investors grudgingly pay up for inflation protection, the Treasury selling $13B in 56-month TIPS at -0.75% - the 5th consecutive auction of negative yields. Bid-to-cover ratio of 2.35 vs. a recent average of 2.78; direct bidders took down 7.6% vs a recent 15.6%, indirect bidders 43.8% vs. a recent 39%. On-the-run TIPS take a bit of a tumble after the weakish results. TIP -0.2%. Comment! [U.S. Economy]
Friday, September 14, 2012, 3:23 PM Deflation risk? As Treasurys plummet (TLT -2.4%), inflation-protected bonds (TIP +0.5%) move in the opposite direction. Michael Gayed tracks the ratio of TIP to the 7-10 year Treasury ETF (IEF) as a way to gauge inflation expectations, and it's spiked higher of late, suggesting far higher inflation fears. 12 Comments [U.S. Economy]
Thursday, August 23, 2012, 5:09 PM Noting the FOMC minutes said additional ease is coming fairly soon unless the economy sees "sustainable strengthening," Bill Gross says QE3 is a "done deal." He expects an open-ended program in which neither the size nor ending date of asset purchases is fixed. How to play it? Buy TIPs and buy mortgages (or buy the companies that buy mortgages). 4 Comments [Financials, U.S. Economy]

TPS ProShares UltraShort TIPS ETF

TPS

ProShares UltraShort TIPS ETF