ProShares announced that its ProShares 30 Year TIPS/TSY Spread (NYSE Arca: RINF) will be changing its benchmark to the Citi 30-Year TIPS (Treasury Rate-Hedged) Index. The ETF’s name also will be changing. These changes will be effective on or about April 15, 2016.
Index/Name Change Details:
Symbol |
Old Data |
New Data |
| RINF | ProShares 30 Year TIPS/TSY Spread | ProShares Inflation Expectations ETF |
| RINF | Credit Suisse 30-Year Inflation Breakeven Index | Citi 30-Year TIPS (Treasury Rate-Hedged) Index |
RINF’s objective will be to seek investment results, before fees and expenses, that track the performance of the Citi 30-Year TIPS (Treasury Rate-Hedged) Index. Both the current and the new index consist of long positions in TIPS and short positions in Treasurys, and are measures of the 30-year breakeven rate of inflation or BEI. The 30-year BEI is considered to be a measure of the market’s expectations for inflation over the next 30 years.
About the Index
The Citi 30-Year TIPS (Treasury Rate-Hedged) Index tracks the performance of long positions in the most recently issued 30-year Treasury Inflation-Protected Securities (TIPS) and duration-adjusted short positions in U.S. Treasury bonds of, in aggregate, approximate equivalent duration to the TIPS. The index seeks to achieve an overall effective duration of zero. The difference in yield (or spread) between these bonds (Treasury yield minus TIPS yield) is commonly referred to as a breakeven rate of inflation.