BTYS

iPath Series B US Treasury 10-year Bear ETN
*Unless otherwise stated, data provided by FactSet.

BTYS Fund Description

BTYS provides inverse, constant-dollar exposure to an index tracking the yield of the cheapest-to-deliver bond for 10-year US Treasury futures

BTYS Factset Analytics Insight

BTYS breaks from the pack in its inverse exposure to Treasury moves by forgoing a constant daily multiple like -1x/-2x. The exposure multiple varies because the note delivers constant dollar exposure (rather than a constant daily multiple) to changes in the yield of 10-year US Treasury bonds. The underlying index is straightforward: A 1 BP change in yield results in a 1 point move in the index. BTYS' value then changes by 1/10 of the daily point change in the index, after expenses. As such, the percentage move in the note is directly tied to the relationship between the unleveraged index level and note value from the previous day. The effective leverage factor for any given day is the ratio of the previous day's index value to that day's note value, divided by 10. This leverage factor will change daily, decreasing on days when the note increases in value, and vice versa. The fund charges a reasonable fee for the space since BTYS is meant to be held longer than other leveraged products.

BTYS Charts And Performance

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  • 3 Months
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  • 1 Year
  • 3 Years
  • 5 Years
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PERFORMANCE [as of 09/24/20] 1 MONTH 3 MONTHS YTD 1 YEAR 3 YEARS 5 YEARS 10 YEARS
BTYS -0.28% -2.98% -- -- -- -- --
BTYS (NAV) -0.67% -2.61% -- -- -- -- --
N/A -- -- -- -- -- -- --
All returns over 1 year are annualized. All returns are total returns unless otherwise stated.

BTYS Summary Data

Barclays
iPath
02/04/20
Exchange-Traded Note
0.75%
$5.25M
0.09%

BTYS Portfolio Data

--
N/A

BTYS Index Data

Barclays 10Y U.S. Treasury Futures Targeted Exposure Index
Single Asset
Single Asset
N/A

BTYS Fund Structure

Yes
--
N/A / N/A
Barclays Bank PLC
Low
High
Variable
N/A

BTYS Tax Exposures

20.00% / 39.60%
--
No
Cboe Book Viewer
Top Of Book
Last 10 Trades
Bats BZX Real-time Quote -

BTYS Factset Analytics Block Liquidity

As of 09/25/20
5
4
3
2
1

This measurement shows how easy it is to trade a $1 million USD block of BTYS. BTYS is rated a N/A out of 5.

BTYS Tradability

589
$23.03K
1
0
0.09%
$0.04
0.00%
2.21% / -1.20%
None
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5,000
0.00
--
--
0
$38.84
N/A