ProFunds Group has launched an ETF designed to provide short exposure to long-term U.S. treasury bonds.

The ProShares Short 20+ Year Treasury ETF aims to produce 100% of the inverse performance of the Barclays Capital 20+ Year U.S. Treasury Index for a single day. The index measures the performance of U.S. treasuries with maturities of 20 years or more.

The new ETF is listed on NYSE Arca, according to ProFunds.

"WE are introducing this new ProShare in direct response to strong investor demand for a single beta short treasury fund," said Michael L. Sapir, ProFunds group chairman and CEO.