According to a press announcement from ProFund, the bond funds are:
- Rising Rates Opportunity ProFund, which is designed to benefit from rising interest rates, and
- US Government Plus ProFund, which is designed to benefit from falling interest rates
ProFunds’ short equity offerings are designed to profit when their benchmarks fall, and, according to the company, provide an opportunity for investors to earn a profit in a falling equity market or to hedge against market declines.
These funds are unleveraged, seeking the inverse of the daily performance, before fees and expenses, of the most recently issued 30-year US Treasury Bond.
The new short funds include:
- Short Small-Cap ProFund, benched to the Russell 2000 Index, and
- Short OTC ProFund, benched to the Nasdaq-100 Index