ProShares - Investment Grade - Interest Rate Hedged
IGHG
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- ProShares Investment Grade—Interest Rate Hedged ETF (IGHG) is an exchange-traded fund that seeks investment results, before fees and expenses, tracking the FTSE Corporate Investment Grade (Treasury Rate-Hedged) Index, which measures the performance of a long position in investment-grade corporate bonds and a duration-matched short position in U.S. Treasury bonds via short positions in Treasury futures across the yield curve to target zero net effective duration and hedge against rising interest rates. The fund invests at least 80% of its total assets in USD-denominated investment-grade corporate bonds rated Baa3/BBB- or higher with maturities of at least five and a half years, including bonds from issuers such as Morgan Stanley (4.38% coupon due 2047), Apple Inc. (3.45% due 2045), Bank of America (5.88% due 2042), Oracle Corp. (6.50% due 2038), and JPMorgan Chase (5.50% due 2040); it maintains a diversified portfolio across approximately 186 companies in sectors including finance (38.73%), industrial manufacturing (17.57%), and consumer industrials (16.78%), with a weighted average maturity of 14.30 years, SEC 30-day yield of 4.74%, expense ratio of 0.30%, and monthly distributions. Launched on November 5, 2013, and listed on Cboe BZX, IGHG targets institutional and retail investors seeking investment-grade bond exposure with minimized interest rate sensitivity. ProShares, the fund sponsor headquartered in Bethesda, Maryland and a leader in strategic ETFs since 2006, recently surpassed $100 billion in assets under management in 2025, opened a New York office in Hudson Yards, hired three regional vice presidents (Chad Brand for Southern California, Mike Hart for New York metro, and Matt Zorumski for Florida) in September 2025 to bolster distribution, and launched new single-stock leveraged ETFs targeting 2x daily returns of Coinbase, Nvidia, Palantir, and Tesla in September 2025, reflecting ongoing expansion amid robust ETF demand.