TBT ProShares UltraShort 20+ Year Treasury
What is TBT?
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 Summary Data
TBT Fund Structure
TBT Tax Exposures
TBT Portfolio Data
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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.
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.