TBT

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

TBT Fund Description

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

TBT Factset Analytics Insight

TBT is a 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. The daily reset means investors shouldn't expect the leverage factor to hold constant over investment horizons greater than one 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. As a levered product, TBT is not a buy-and-hold ETF, it's a short-term tactical instrument. On Oct. 14, 2016, TBT changed its underlying index from Bloomberg Barclays U.S. 20+ Year Treasury Bond Index to ICE U.S. Treasury 20+ Year Bond Index. The change had 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 6.10 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 43th percentile within its peer group and in the 0th percentile within the global universe of all funds covered by MSCI ESG Fund Ratings.

PERFORMANCE [as of 11/22/21] 1 MONTH 3 MONTHS YTD 1 YEAR 3 YEARS 5 YEARS 10 YEARS
TBT -6.86% 0.29% 4.20% 6.21% -23.67% -15.13% -13.65%
TBT (NAV) -4.33% 2.68% 6.82% 10.54% -23.11% -14.74% -13.21%
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
0.92%
$1.51B
0.06%
TBF, TMV, TTT

TBT Portfolio Data

0.00%
N/A

TBT Index Data

Market Value
Market Value
N/A

TBT Fund Structure

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

TBT Tax Exposures

20.00% / 39.60%
--
No

TBT Factset Analytics Block Liquidity

As of 11/23/21
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 5 out of 5.

TBT Tradability

5,934,146
$103.86M
5,338,714
$96.35M
0.06%
$0.01
0.00%
0.74% / -3.05%
None
100.00%
50,000
106.77
0.03%
--
733,357
$17.50
5

TBT MSCI ESG Ratings

6.10 / 10
--
42.52
--
--
--

Options Strategies for Outcome Investing

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