ETF Evaluator:
ProShares Investment Grade—Intr Rt Hdgd ()
Follow This ETF
(as of Aug 26)
Best Performing in Nontraditional Bond Over the Last Year
| 7.1% | Simplify Kayne Anderson Ey&InfrasCrdtETF (KNRG) |
| 6.8% | WisdomTree Interest Rt Hdg Hi Yld Bd ETF (HYZD) |
| 6.3% | ProShares High Yield—Interest Rate Hdgd (HYHG) |
| 6.0% | FolioBeyond Alt Inc and Int Rt Hdg ETF (RISR) |
| 5.6% | NEOS Enhanced Income Credit Select ETF (HYBI) |
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ETF Details
ProShares Investment Grade—Intr Rt Hdgd Overview
ProShares Investment Grade—Intr Rt Hdgd (IGHG) is a passively managed Taxable Bond Nontraditional Bond exchange-traded fund (ETF). ProShares launched the ETF in 2013.
The investment seeks investment results, before fees and expenses, that track the performance of the FTSE Corporate Investment Grade (Treasury Rate-Hedged) Index.
The index is designed to measure the performance of investment grade corporate debt. The index measures the performance of two positions: (1) a long position in investment-grade corporate bonds; and (2) a duration-matched short position in U.S. Treasury bonds. It will invest at least 80% of its total assets in component securities and invest at least 80% of its total assets in investment grade bonds.
About ProShares Investment Grade—Intr Rt Hdgd (IGHG)
There are 2 members of the management team with an average tenure of 5.86 years: Alexander Ilyasov (2019) and James Linneman (2022). Management tenure is more important for actively managed ETFs than passive index ETFs.
The ETF has 2 primary benchmarks: Bloomberg US Agg Bond TR USD index with a weighting of 100% and FTSE Corp IG (Treasury Rate-Hdg) USD index with a weighting of 100%. ProShares Investment Grade—Intr Rt Hdgd has 189 securities in its portfolio. The top 10 holdings constitute 12.9% of the ETF’s assets. The ETF meets the SEC requirement of being classified as a diversified fund. The ETF is not considered to have an ESG focus with its investment selection and management.
ProShares Investment Grade—Intr Rt Hdgd is part of the Fixed Income global asset class and is within the Taxable Bond ETF group. ProShares Investment Grade—Intr Rt Hdgd has 33.9% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 0.0% There is 0.0% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 97.5% (63.6% domestic bond, 33.9% foreign bond and 0.0% convertible bond). ProShares Investment Grade—Intr Rt Hdgd has 1.2% of the portfolio in cash.
Assets Under Management
The fund has $329 million in total assets, which is above the $320 million average for the Nontraditional Bond category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.
IGHG Performance and Fees
The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The ProShares Investment Grade—Intr Rt Hdgd expense ratio is below average compared to funds in the Nontraditional Bond category. ProShares Investment Grade—Intr Rt Hdgd has an expense ratio of 0.30%, which is 78% lower than its category average, making the fund expense ratio grade a A. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.
High portfolio turnover can translate to higher expenses and lower aftertax returns. ProShares Investment Grade—Intr Rt Hdgd has a portfolio turnover rate of 53%, which indicates that it holds its assets around / 0.0 years. By way of comparison, the average portfolio turnover is 190% for the Nontraditional Bond category.
Recently, in the month of July 2026, ProShares Investment Grade—Intr Rt Hdgd returned 0.2%, which earned it a grade of B, as the Nontraditional Bond category had an average return of -0.4%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all ETFs in that category.
ProShares Investment Grade—Intr Rt Hdgd has a trailing yield of 5.12%, which is below the 6.67% category average.
The fund normally distributes its income monthly.
It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.
ProShares Investment Grade—Intr Rt Hdgd Grades
Year to date, the ETF has returned 2.1%, 2.1 percentage points better than the category, which translates into a grade of B. The fund has returned 4.5% over the past year (grade of C), 7.4% over the past three years (grade of B) and 5.3% per year over the past five years (grade of B) and 4.7% per year over the past 10 years (grade of B).
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IGHG Trailing NAV Total Returns Data as of 7/31/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| IGHG Return (NAV) | 0.2% | 1.0% | 4.5% | 7.4% | 5.3% | 4.7% |
| IGHG Return (Price) | 0.2% | 1.0% | 4.6% | 7.4% | 5.4% | 4.7% |
| NAV +/- Price Return | 0.001% | 0.037% | -0.172% | -0.029% | -0.038% | -0.061% |
| Nontraditional Bond Avg | -0.4% | -0.6% | 2.7% | 5.4% | 3.4% | 4.3% |
| IGHG Grade (NAV) | B | B | C | B | B | B |
| +/- Category (NAV) | 0.5% | 1.6% | 1.8% | 2.0% | 1.9% | 0.4% |
| IGHG Tax-Cost Ratio | na | na | 2.1% | 2.1% | 1.9% | 1.6% |
IGHG Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| IGHG Return (NAV) | 2.1% | 5.8% | 9.1% | 11.7% | -1.2% | 1.2% | 0.7% | 12.7% | -4.3% | 5.6% | 7.3% |
| IGHG Return (Price) | 2.2% | 5.7% | 9.2% | 11.6% | -0.9% | 0.9% | 0.6% | 12.7% | -4.0% | 4.5% | 7.9% |
| NAV +/- Price Ret | 0.024% | -0.029% | 0.012% | -0.008% | -0.273% | -0.290% | -0.085% | 0.6% | -8.4% | -20.3% | 8.7% |
| Nontraditional Bond Avg | 0.1% | 4.6% | 8.2% | 9.5% | -3.9% | 6.2% | 0.9% | 7.2% | -0.7% | 4.0% | 7.7% |
| IGHG Grade (NAV) | B | C | B | B | B | D | B | A | F | A | C |
| +/- Category | 2.1% | 1.2% | 0.9% | 2.2% | 2.6% | -5.0% | -0.2% | 5.5% | -3.6% | 1.6% | -0.4% |
| Risk Measures | |
| Beta: | -0.01 |
| R-Squared: | 0% |
| Standard Deviation: | 2.8% |
| Category Risk Index: | 0.52 |
| Category Risk Rating: | Low |
| Total Risk Index: | 0.23 |
| Total Risk Rating: | Low |
| Portfolio Characteristics | |
| Yield: | 5.1% |
| Total Assets: | $ 330 Mil |
| Share Class Assets: | $ 330 Mil |
| Turnover: | 53.0% |
| Expense Ratio: | 0.30% |
| Index Fund: | Yes |
| Index Tracked: | Bloomberg US Agg Bond TR USD |
| Index Weighting: | 100% |
| Leveraged: | No |
| Socially Responsible Fund: | No |
| Capital Gains Distribution Frequency: | |
| Income Distribution Frequency: | Monthly |
Management Team
| Number of Managers: 2 | |||
| Longest Tenure: 7.3 years | |||
| Average Tenure: 5.9 years | |||
| Managers (Year): Ilyasov Alexander (2019), Linneman James (2022) | |||
Portfolio Composition (as of 7/31/26)
| # of Holdings: | 189 |
| % in Top 10 Holdings: | 12.9% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 33.9% |
Portfolio Allocation |
|
| Domestic Stock: | 0.0% |
| Foreign Stock: | 0.0% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 63.6% |
| Foreign Bond: | 33.9% |
| Convertible Bond: | 0.0% |
| Other: | 1.3% |
| Cash: | 1.2% |
Purchase Information
| Legal Structure: | Open Ended Investment Company |
| Fund Family: | ProShares |
| Phone Number: | 866-776-5125 |
| Website: | www.proshares.com |
| Inception Date: | November 5, 2013 |
Expenses and Fees
| Expense Ratio (%): | 0.30% (Rating: Below Avg) |
| Category Average Expense Ratio (%): | 1.34% |
