TBTProShares UltraShort 20+ Year Treasury
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 MSCI ESG Analytics Insight
ProShares UltraShort 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 UltraShort 20+ Year Treasury ranks in the 84th percentile within its peer group and in the 0th percentile within the global universe of all funds covered by MSCI ESG Fund Ratings.
TBT CHARTS AND PERFORMANCE
TBT Factset Analytics Block Liquidity
This measurement shows how easy it is to trade a $1 million USD block of TBT. TBT is rated a 5 out of 5.
TBT MSCI ESG Ratings
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.
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.
A covered call is an income strategy constructed by writing a call option against a holding of the underlying security.