ProShares CDS Short North American HY Credit ETF (WYDE)
ProShares CDS Short North American HY Credit ETF operates in the Asset Management - Bonds industry of the Financial Services sector, headquartered in Bethesda, MD, US. The stock last traded at $31.48, up 0.85% on the session, giving a market capitalisation of $6.2M. Its beta of 0.12 implies it has historically moved less than the broad market.
This investment vehicle is designed to offer a "short" position or inverse exposure to the credit risk associated with North American high-yield debt issuers. Its primary strategy involves deploying capital into an assortment of credit-linked financial instruments. These instruments are linked to the creditworthiness of North American entities that issue speculative-grade (or "junk bond") debt. Ordinarily, the fund commits a minimum of 80% of its net assets to centrally cleared, index-based credit default swaps (CDS). The economic characteristics of these CDS contracts are intended to inversely track the performance of the broader North American high-yield credit market. Importantly, this fund operates as a non-diversified entity.
ProShares CDS Short North American HY Credit ETF is most often compared with the following Financial Services names: