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TBT

ProShares UltraShort 20+ Year Treasury
ETF.com segment:
Inverse Fixed Income: U.S. - Government, Treasury Investment Grade Long-Term
Popular TBT Comparisons: TBT vs TBF, TBT vs TMV, TBT vs TTT, TBT vs TYBS, TBT vs AGG
Related ETF Channels: Fixed Income, U.S., Treasury, Inverse, Bond, Long-Term, Investment Grade Bonds, Vanilla, North America, ICE U.S. Treasury 20+ Year Bond Index
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*Unless otherwise stated, data provided by FactSet.

TBT Fund Description

TBT provides 2x inverse exposure, reset daily, to an index that tracks the performance of US Treasury securities with remaining maturities greater than 20 years.

TBT Factset Analytics Insight

TBT is the trader's fund of choice for levered bets on rising interest rates. Using a combination of swaps and futures, TBT gives investors -2x exposure to daily moves in T-bonds with more than 20 years left to maturity. This gives the fund a negative duration exceeding 30 years. The daily reset means investors shouldn't expect the leverage factor to hold constant over investment horizons greater than 1 day. In short, the fund is a valid option for tactical positioning/hedging against rising interest rates, but it's important to keep in mind that the -2x leverage results in greater impact from the effects of compounding. It trades briskly and block liquidity is excellent. TBT's fees are also low for this segment, making it a cost-effective option for getting inverse exposure to T-bonds.TBT 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 has minimal impact on investor’s exposure.

TBT 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 09/24/20] 1 MONTH 3 MONTHS YTD 1 YEAR 3 YEARS 5 YEARS 10 YEARS
TBT 1.24% -5.73% -41.53% -37.14% -22.81% -18.60% -18.71%
TBT (NAV) 0.57% -4.48% -41.59% -35.91% -22.97% -18.42% -18.96%
ICE U.S. Treasury 20+ Year Bond Index -- -- -- -- -- -- -18.96%
N/A -- -- -- -- -- -- --
All returns over 1 year are annualized. All returns are total returns unless otherwise stated.

TBT Summary Data

ProShares
05/01/08
Open-Ended Fund
0.89%
$455.85M
0.06%
TBF, TMV, TTT, TYBS, DLBS
Fund Home Page

TBT Portfolio Data

1.20%
09/23/20

TBT Index Data

ICE U.S. Treasury 20+ Year Bond Index
Market Value
Market Value
N/A

TBT Fund Structure

Yes
No
No Policy
N/A
N/A
Low
-2
Daily

TBT Tax Exposures

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

TBT 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 TBT. TBT is rated a N/A out of 5.

TBT Tradability

1,389,490
$21.42M
1,050,604
$16.30M
0.06%
$0.01
-0.04%
6.42% / -4.82%
None
0.00%
50,000
21.01
0.01%
--
175,329
$15.37
N/A

Options Strategies for Outcome Investing

Options allow you to customize investment outcomes. Using the strategy builders provided by Cboe Vest Technologies, you can construct some of the most common option strategies. Check out our user guide for more information on how to use the tool.

  • Collar Strategy
    Protection Strategy
  • Covered Call Strategy
    Income Strategy

A collar strategy is a protective option strategy constructed by writing a call and buying a put with the same expiration date while being long the underlying security.