TBF

ProShares Short 20+ Year Treasury
*Unless otherwise stated, data provided by FactSet.

TBF Fund Description

TBF provides daily inverse exposure to an index that tracks the performance of US Treasury securities with remaining maturities greater than 20 years.

TBF Factset Analytics Insight

TBF is a popular method for investors to bet on rising interest rates. The fund uses swaps and futures contracts to deliver the daily returns of a short position in Treasury bonds with more than 20 years left to maturity. With the underlying index's high effective duration, even small 1-day moves in interest rates translate to a large change in TBF. However, the daily reset means that investors shouldn't expect the inverse relationship to hold over longer time periods due to the path-dependent nature of the fund's returns. Liquidity is strong for large and small investors, and the spreads are manageable. While the fund is not the segment leader, concerns around rising interest rates have provided it with plenty of investor capital, and its holding costs fall in line with other funds in the segment.TBF changed its underlying index from Bloomberg Barclays U.S. 20+ Year Treasury Bond Index to ICE U.S. Treasury 20+ Year Bond Index on 10/14/2016. The change hase minimal impact on investor’s exposure.

TBF MSCI ESG Analytics Insight

ProShares Short 20+ Year Treasury has an MSCI ESG Fund Rating of A based on a score of 6.70 out of 10. The MSCI ESG Fund Rating measures the resiliency of portfolios to long-term risks and opportunities arising from environmental, social, and governance factors. ESG Fund Ratings range from best (AAA) to worst (CCC). Highly rated funds consist of companies that tend to show strong and/or improving management of financially relevant environmental, social and governance issues. These companies may be more resilient to disruptions arising from ESG events.

The fund’s Peer Rank reflects the ranking of a fund’s MSCI ESG Fund Quality Score against the scores of other funds within the same peer group, as defined by the Thomson Reuters Lipper Global Classification. ProShares Short 20+ Year Treasury ranks in the 83th percentile within its peer group and in the 0th percentile within the global universe of all funds covered by MSCI ESG Fund Ratings.

TBF Charts And Performance

  • 1 Month
  • 3 Months
  • YTD
  • 1 Year
  • 3 Years
  • 5 Years
  • Max
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Select ETFs to compare their performance:
PERFORMANCE [as of 09/13/19] 1 MONTH 3 MONTHS YTD 1 YEAR 3 YEARS 5 YEARS 10 YEARS
TBF 2.28% -6.68% -13.04% -15.13% -2.78% -7.17% -8.62%
TBF (NAV) 4.33% -4.33% -11.55% -13.17% -2.46% -6.79% -8.42%
ICE U.S. Treasury 20+ Year Bond Index -4.17% 4.84% 14.85% 17.80% 3.39% 6.57% -8.42%
N/A -- -- -- -- -- -- --
All returns over 1 year are annualized. All returns are total returns unless otherwise stated.

TBF Summary Data

ProShares
08/20/09
Open-Ended Fund
0.91%
$286.38M
0.05%

TBF Portfolio Data

1.67%
09/25/19

TBF Index Data

Market Value
Market Value
N/A

TBF Fund Structure

Yes
No
No Policy
N/A
N/A
High
-1
Daily

TBF Tax Exposures

20.00% / 39.60%
--
No
Cboe Book Viewer
Top Of Book
Last 10 Trades
Bats BZX Real-time Quote -
Daily Spread
Premium/Discount
Volume

TBF Factset Analytics Block Liquidity

As of 09/16/19
5
4
3
2
1

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

TBF Tradability

786,056
$15.03M
586,657
$10.71M
0.05%
$0.01
-0.04%
0.78% / -0.75%
None
0.00%
50,000
11.73
0.03%
--
8,694
$19.74
N/A

TBF MSCI ESG Ratings

A
6.70 / 10
--
83.42
--
--
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