ProShares launches a new inverse ETF

ProShares is launching a new ETF that will allow you to short the long-term Treasury bonds. The ticker symbol will be TBF. Keep in mind, this is a new product and trades a small volume.

ProShares Short 20+ Year Treasury (TBF) is built to produce 100% of the inverse performance of the Barclays Capital 20+ Year U.S. Treasury Index for a single day, excluding fees and expenses.

Check out this bit of fine print from the ProShares website:

This ETF seeks a return that is either 300%, 200%, -100%, -200% or -300% of the return of an index or other benchmark (target) for a single day. Due to the compounding of daily returns, ProShares' returns over periods other than one day will likely differ in amount and possibly direction from the target return for the same period. Investors should monitor their ProShares holdings consistent with their strategies, as frequently as daily. For more on correlation, leverage and other risks, please read the prospectus

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You can click here to read the prospectus.