ProShares UltraHigh Yield ETF (UJB) is managed by ProShare Advisors, who employ a mathematical approach to investing in order to achieve daily returns consistent with the ETF's investment objective. The fund aims to track the IHS Markit iBoxx $ Liquid High Yield Index, which represents U.S. dollar-denominated high-yield corporate bonds available for sale in the United States. The index is designed to provide a balanced representation of these bonds, including the most liquid high-yield corporate bonds, and it is published under the Bloomberg ticker symbol IBOXHY. UJB primarily invests in financial instruments such as exchange-traded funds (ETFs), derivatives, and money market instruments to meet its investment goals, with a focus on achieving leveraged returns corresponding to the index. Investors should be aware that UJB seeks daily investment results and may not perform the same as the index over longer periods due to factors like daily rebalancing and compounding of returns. Furthermore, the fund may concentrate its investments in specific industries or regions to a similar extent as the index. Please refer to the Fund's Prospectus for a comprehensive overview of its investment objectives, strategies, and associated risks.
The UJB Dividend is influenced by the investment strategy of the ProShares Ultra High Yield ETF (UJB). While UJB primarily seeks daily returns consistent with its investment objective and is not primarily focused on dividends, its dividend distributions can be affected by the performance of the underlying Markit iBoxx $ Liquid High Yield Index. These distributions typically follow the index's yield, and the eligibility of bonds included in the index plays a crucial role. The index includes U.S. dollar-denominated, sub-investment grade corporate bonds with certain criteria, and any changes in the index composition can impact UJB's dividend distribution. Investors considering UJB should primarily be interested in its leveraged returns rather than dividend income.
The UJB ETF primarily tracks the performance of the Markit iBoxx $ Liquid High Yield Index, administered by IHS Markit Benchmark Administration Limited (IMBA). This index is designed to provide a balanced representation of U.S. dollar-denominated high yield corporate bonds available for sale in the United States. The index comprises sub-investment grade bonds issued by companies domiciled in developed countries, with at least $1 billion par outstanding, at least $400 million of outstanding face value, and an expected remaining life of 15 years or less. The UJB ETF achieves its objective through investments in financial instruments like exchange-traded funds (ETFs), derivatives, and money market instruments. It employs a mathematical approach for daily rebalancing to maintain exposure consistent with its daily investment goal, with the aim of achieving returns leveraged 2x to the index. The UJB ETF primarily tracks the performance of the Markit iBoxx $ Liquid High Yield Index, administered by IHS Markit Benchmark Administration Limited (IMBA). This index is designed to provide a balanced representation of U.S. dollar-denominated high yield corporate bonds available for sale in the United States. The index comprises sub-investment grade bonds issued by companies domiciled in developed countries, with at least $1 billion par outstanding, at least $400 million of outstanding face value, and an expected remaining life of 15 years or less. The UJB ETF achieves its objective through investments in financial instruments like exchange-traded funds (ETFs), derivatives, and money market instruments. It employs a mathematical approach for daily rebalancing to maintain exposure consistent with its daily investment goal, with the aim of achieving returns leveraged 2x to the index.
The correlation aspect of the ProShares Ultra High Yield ETF (UJB) is essential for understanding its performance in relation to the Markit iBoxx $ Liquid High Yield Index, which it seeks to provide twice the daily returns of. Given its objective to deliver leveraged returns, UJB's correlation with its benchmark index plays a significant role in assessing its effectiveness as a trading tool. Investors interested in high-yield corporate bonds can benefit from UJB's performance correlation when incorporating it into their portfolio strategies.
The UJB ETF, or the ProShares UltraPro High Yield Sector ETF, aims to produce daily returns that correspond to three times (3x) the daily performance of the Markit iBoxx $ Liquid High Yield Index. This index primarily includes U.S. dollar-denominated high yield corporate bonds, focusing on bonds from companies domiciled in developed countries. The ETF achieves its objective through various financial instruments, including exchange-traded funds (ETFs), derivatives such as swap agreements, and money market instruments like U.S. Treasury Bills and repurchase agreements. Investors in UJB should be aware of the fund's daily rebalancing, compounding effects, and the potential for losses, especially in flat or volatile market conditions. Additionally, UJB may concentrate its investments in specific industry groups, though as of May 31, 2022, it was focused on the consumer services industry group.
The exposure characteristic of the UJB ETF is centered around the Markit iBoxx $ Liquid High Yield Index, aiming to provide investors with daily returns consistent with its investment objective. The ETF primarily invests in U.S. dollar-denominated high yield corporate bonds issued by companies domiciled in developed countries. The Index Administrator, IHS Markit Benchmark Administration Limited, meticulously selects the most liquid high yield corporate bonds available, ensuring transparency and objectivity in the index composition. UJB leverages derivatives and money market instruments to achieve its investment goals, and ProShare Advisors employs a mathematical approach to maintain exposure to the index''s returns. For deeper insights into UJB''s exposure, investors can utilize ETF Insider''s web app, which offers comprehensive data and visualization tools to assess overlap, correlations, and more for U.S. ETFs.
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