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Is High Yield Overvalued?
Morningstar • Fri, Apr 19 • 7 Comments
Junk Bond Bubble Myths Vs. Reality
Learn Bonds • Mon, Nov 12, 2012 • 9 Comments
Understanding The Life Cycle Of A Rally In Corporates Can Lead To Further Gains
Bondsquawk • Fri, Sep 28, 2012
The 3 Most Overvalued Assets
Howard Gold • Thu, Sep 27, 2012 • 12 Comments
When Indexing Fails: Junk Bonds
Morningstar • Wed, Jul 18, 2012 • 3 Comments
Riding The Volatility In The Junk Bond Markets
Walter Kurtz • Fri, Dec 16, 2011 • 10 Comments
ETF Deathwatch For November 2011: Count Surges To Record High
Ron Rowland • Tue, Nov 8, 2011 • 1 Comment
iShares' Koesterich: Corporate Bonds Attractively Priced
Tom Lydon • Thu, Nov 3, 2011
Portfolio Positioning Update: Neutral On High Yield Bonds, Defensive On Equities
Russ Koesterich • Tue, Sep 27, 2011
April ETF Roundup: 43 Funds Make Their Debut
Jared Cummans • Mon, May 2, 2011
ProShares Juices Up Junk and Investment Grade Bond ETFs
Ron Rowland • Fri, Apr 15, 2011
ProShares Debuts Leveraged Bond ETFs
Michael Johnston • Fri, Apr 15, 2011

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There are no Focus articles on UJB.

Is High Yield Overvalued?
Morningstar • Fri, Apr 19 • 7 Comments
Junk Bond Bubble Myths Vs. Reality
Learn Bonds • Mon, Nov 12, 2012 • 9 Comments
Understanding The Life Cycle Of A Rally In Corporates Can Lead To Further Gains
Bondsquawk • Fri, Sep 28, 2012
The 3 Most Overvalued Assets
Howard Gold • Thu, Sep 27, 2012 • 12 Comments
When Indexing Fails: Junk Bonds
Morningstar • Wed, Jul 18, 2012 • 3 Comments
Riding The Volatility In The Junk Bond Markets
Walter Kurtz • Fri, Dec 16, 2011 • 10 Comments
ETF Deathwatch For November 2011: Count Surges To Record High
Ron Rowland • Tue, Nov 8, 2011 • 1 Comment
iShares' Koesterich: Corporate Bonds Attractively Priced
Tom Lydon • Thu, Nov 3, 2011
Portfolio Positioning Update: Neutral On High Yield Bonds, Defensive On Equities
Russ Koesterich • Tue, Sep 27, 2011
April ETF Roundup: 43 Funds Make Their Debut
Jared Cummans • Mon, May 2, 2011
ProShares Juices Up Junk and Investment Grade Bond ETFs
Ron Rowland • Fri, Apr 15, 2011
ProShares Debuts Leveraged Bond ETFs
Michael Johnston • Fri, Apr 15, 2011

There are no Transcripts on UJB.

There are no News articles on UJB.

UJB vs. ETF Alternatives

UJB Description

ProShares Ultra High Yield seeks daily investment results, before fees and expenses, that correspond to twice (200%) the daily performance of the Markit iBoxx® $ Liquid High Yield Index.
See more details on sponsor's website

Country: United States

Key Info

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

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

Monday, May 20, 12:30 PM The hot market for corporate junk (HYG, JNK) has pushed the yield on high-yield corporates (4.88%) well below that of high-yield municipals (5.22% nominally, over 8% on a tax-equivalent basis). The nominal spread of 34 bps is down from 56 bps a week ago as investors take notice of the anomaly. High-yield muni ETFs: HYD, HYMB, XMPT. 3 Comments
Monday, May 20, 9:47 AM UBS' 5 "suspected" asset bubbles: 1) Risk-free rates - specifically Treasurys (TLT), Bunds (BUND, BUNL), JGBs (JGBL, JGBT, JGBD, JGBS) 2) Credit (HYG, JNK) 3) Real estate in Asia (WPS) 4) Certain EM equity markets (EIDO, IDXJ, EPHE, THD, EWW) 5) Australian banks (WBK, NABZY.PK, ANZBY.PK, CMWAY.PK). Comment!
Friday, May 10, 5:57 AM Don't panic, Moody's says, there's "no strong evidence that recent [corporate debt] issuance levels presage a damaging correction." The notion that a bubble is building in the corporate bond market isn't reflected in credit spreads which, for both investment grade (LQD) and high yield (HYG, JNK), are closer to long-run averages than they are to alarmingly tight. Furthermore, the ratings agency says a surge in issuance reflects the "disintermediation of the banking sector" and notes that the proportion of total corporate liabilities comprised of debt securities hasn't significantly increased over the past two years." We can all rest easy now. (previous) 2 Comments
Wednesday, May 8, 11:38 AM The 5% yield barrier on junk bonds (HYG, JNK) is broken for the first time ever, the Barclays U.S. High Yield Index sliding to 4.97% (prior to Jan., the yield had never fallen below 6%). Spreads to Treasurys remain at a not-unreasonable 406 bps, far wider than the record-tight 223 points reached just as the gates of financial heck were about to open in 2007. In the meantime, the equity of highly non-wobbly companies like RDS.A, VOD, and GSK yields in the area of 5%. "We don't want to question the market," writes the FT's David Keohane, "but: what the (heck)?" 7 Comments
Monday, May 6, 1:04 PM It's an easy market to hate, but junk bond prices (HYG, JNK) keep going higher, the yield on the benchmark BAML index hitting an all-time low of 5.084%. The spread to Treasurys - treading water for awhile at 475 bps - has broken through that resistance, and is now at 4.33%. The Fed's role here is well-documented, but the latest meme has the BOJ's easing efforts as forcing a fresh wave of cash into the sector. 8 Comments
Friday, April 12, 12:28 PM Fixed-income may not be being given away as it was in 2010, but there's still value, says Jeff Gundlach, scoffing at talk of a bond bubble. "Raise your hand" if you own Treasurys for yourself or a client, he asked a room full of advisors (none went up). Bonds are not "over-owned" in the U.S., he says, showing cash and fixed income make up a higher percentage of household financial assets in other countries. 5 Comments [U.S. Economy]
Friday, March 22, 10:25 AM The recently announced Market Vectors Treasury-Hedged High Yield Bond ETF THHY starts trading today. The fund invests in high-yield bonds, but hedges interest rate risk by shorting Treasurys. It comes with a high expense ratio of 1.45% as compared to similar funds HYLS (1.19%), GYLD and MINC (0.75%). Comment!
Wednesday, March 20, 10:11 AM The term "high-yield" doesn't quite cut it anymore as the 30-day SEC yield on the High-Yield Corporate Bond ETF (HYG) threatens to drop below 5%. 4 Comments [Financials]
Monday, March 4, 9:23 AM The growing consensus against junk bonds in a picture shows soaring short interest in HYG. (via Stifel, h/t ukarlewitz) Comment!
Thursday, February 28, 8:25 AM Dan Fuss - a bond king even if that title is usually reserved for someone else - takes junk bond (HYG, JNK) exposure in his Loomis Sayles Bond Fund down to 24% of AUM, its lowest level ever. "The 'don't fight the Fed' mentality ... will have to reconcile at some point with the macroeconomic reality that there's more risk in the world than the market is choosing to acknowledge," says DoubleLine's Bonnie Baha, nodding in agreement with Fuss. Comment! [Financials]
Wednesday, February 27, 11:10 AM Leading off his latest outlook with Alan Greenspan's "irrational exuberance" line, Bill Gross (BOND) ponders its application to credit markets (LQD, HYG, JNK) today. Conclusion: Not yet. Labeling credit irrationality a 6 on a scale of 1-10, Gross suggests not selling, but instead lowering expectations.
1 Comment [U.S. Economy]
Friday, February 22, 10:09 AM The soon-to-hit Market Vectors High-Yield/Treasury ETF (THHY) - by going long high-yield and short 5-year Treasurys - aims to protect against rising rates. Rising Treasury rates, that is. What happens if the economy worsens, Treasury yields fall, and high-yield rates rise? In golf it's known as the dreaded double-cross. 2 Comments [Financials]
Tuesday, February 19, 8:52 AM Calling investors "handcuffed volunteers," Howard Marks says the people buying high-yield (HYG, JNK) at 6% are doing so only because T-bills pay 0.25%. These investors weren't buying 10 years ago at 12% or 4 years ago at 20%. "Are they doing it because they are pie-eyed optimists? No, (but) because they have to have income to eat." 3 Comments [Financials]
Friday, February 15, 8:06 AM It's fashionable to bash the high-yield sector (HYG, JNK), but UBS has a kind word to say. On a relative basis, valuation is still attractive, with yields 500 basis points higher than Treasurys leaving plenty of room to tighten. Issuer quality isn't as bad as reported, they say, with just 20% of new paper at CCC or less, vs. 35% in 2007. 2 Comments [Financials]
Monday, February 4, 11:56 AM Last week's losses in high-yield were accompanied by sizable outflows from high-yield ETFs, with HYG losing $461M in assets and JNK $348M. Investors also pulled money from another hot sector, emerging markets bonds (EMB). All three are now posting losses YTD. 5 Comments [Financials]
Thursday, January 31, 4:37 PM Are funds flowing out of junk bonds? The noticeable turn lower in HYG and JNK in the past couple of sessions has been accompanied by surging volume, notes John Spence. Both of the ETFs have returned to about flat YTD. The IG corporate bond ETF (LQD) is now red. Dan Fuss describes today's high yield values as "ridiculous." Comment! [U.S. Economy]

UJB ProShares Ultra High Yield Bond ETF

UJB

ProShares Ultra High Yield Bond ETF