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ProShares UltraShort 20+ Year Treasury (TBT)
Performance
Risk-Adjusted Performance
Dividends
Drawdowns
Volatility

ETF Info

ISINUS74347B2016
CUSIP74347B201
IssuerProShares
Inception DateMay 1, 2008
RegionNorth America (U.S.)
CategoryLeveraged Bonds, Leveraged
Leveraged2x
Index TrackedU.S. Treasury 20+ Year Index (-200%)
Asset ClassBond

Expense Ratio

TBT has a high expense ratio of 0.92%, indicating higher-than-average management fees.


Expense ratio chart for TBT: current value at 0.92% compared with the broader market ranging from 0.00% to 2.12%.0.50%1.00%1.50%2.00%0.92%

Share Price Chart


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Compare to other instruments

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.


ProShares UltraShort 20+ Year Treasury

Popular comparisons: TBT vs. TLT, TBT vs. TTT, TBT vs. TBX, TBT vs. YCS, TBT vs. QQQ, TBT vs. TMF, TBT vs. SPY, TBT vs. TMV, TBT vs. PFIX, TBT vs. 1000

Performance

Performance Chart

The chart shows the growth of an initial investment of $10,000 in ProShares UltraShort 20+ Year Treasury, comparing it to the performance of the S&P 500 index or another benchmark. All prices have been adjusted for splits and dividends.


-5.00%0.00%5.00%10.00%15.00%20.00%25.00%30.00%2024FebruaryMarchAprilMayJune
12.39%
15.14%
TBT (ProShares UltraShort 20+ Year Treasury)
Benchmark (^GSPC)

S&P 500

Returns By Period

ProShares UltraShort 20+ Year Treasury had a return of 11.53% year-to-date (YTD) and 15.95% in the last 12 months. Over the past 10 years, ProShares UltraShort 20+ Year Treasury had an annualized return of -5.12%, while the S&P 500 had an annualized return of 10.88%, indicating that ProShares UltraShort 20+ Year Treasury did not perform as well as the benchmark.


PeriodReturnBenchmark
Year-To-Date11.53%13.92%
1 month-6.66%3.57%
6 months12.02%15.13%
1 year15.95%24.27%
5 years (annualized)4.09%13.51%
10 years (annualized)-5.12%10.88%

Monthly Returns

The table below presents the monthly returns of TBT, with color gradation from worst to best to easily spot seasonal factors. Returns are adjusted for dividends.


JanFebMarAprMayJunJulAugSepOctNovDecTotal
20245.36%5.47%-0.75%15.05%-4.83%11.53%
2023-13.82%11.10%-9.13%-0.39%6.54%0.26%5.95%7.06%18.62%11.14%-16.95%-15.13%-2.42%
20227.46%2.48%10.11%21.29%3.26%1.95%-5.35%9.05%17.86%13.11%-13.40%4.77%93.29%
20217.06%11.66%10.75%-4.92%-0.10%-8.81%-7.81%-0.00%5.70%-5.34%-6.16%3.62%2.86%
2020-13.79%-12.37%-19.58%-2.49%3.00%-1.55%-8.62%10.39%-2.12%6.62%-3.82%1.99%-37.96%
2019-0.57%2.89%-9.95%4.49%-12.22%-1.70%-0.41%-19.19%5.32%2.26%0.60%6.45%-22.90%
20186.87%6.32%-5.43%4.41%-3.80%-1.13%3.03%-2.35%6.26%6.16%-3.19%-10.44%4.98%
2017-1.74%-3.44%1.03%-3.14%-3.75%-1.67%1.42%-6.54%4.65%0.03%-1.52%-3.62%-17.25%
2016-10.55%-6.24%-0.27%0.95%-1.93%-13.15%-4.54%1.72%2.70%8.99%17.83%0.59%-7.37%
2015-17.53%12.78%-2.97%6.57%4.15%7.14%-9.16%0.62%-4.70%0.46%1.40%-0.25%-5.00%
2014-11.70%-1.56%-1.87%-4.28%-6.14%0.05%-1.80%-9.02%3.83%-6.02%-5.93%-6.85%-41.43%
20136.30%-2.92%0.35%-9.10%14.05%6.33%3.96%1.93%-1.93%-3.07%4.93%3.45%24.82%

Risk-Adjusted Performance

Risk-Adjusted Performance Rank

The current rank of TBT is 23, indicating that it is in the bottom 23% of ETFs on our website in terms of risk-adjusted performance. This ranking is based on the combined values of the indicators listed below.


The Risk-Adjusted Performance Rank of TBT is 2323
TBT (ProShares UltraShort 20+ Year Treasury)
The Sharpe Ratio Rank of TBT is 2323Sharpe Ratio Rank
The Sortino Ratio Rank of TBT is 2727Sortino Ratio Rank
The Omega Ratio Rank of TBT is 2525Omega Ratio Rank
The Calmar Ratio Rank of TBT is 2020Calmar Ratio Rank
The Martin Ratio Rank of TBT is 1919Martin Ratio Rank
The risk-adjusted ranks indicate the investment's position relative to the market. A rank closer to 100 signifies top-performing investments, while a rank closer to 0 might suggest underperformance, based on the selected ratio. The values are calculated based on the past 12 months of returns.

Risk-Adjusted Performance Indicators

The charts below present risk-adjusted performance metrics for ProShares UltraShort 20+ Year Treasury (TBT) and compare them to a chosen benchmark (^GSPC). These indicators evaluate an investment's returns against its associated risks.


TBT
Sharpe ratio
The chart of Sharpe ratio for TBT, currently valued at 0.42, compared to the broader market0.002.004.006.000.42
Sortino ratio
The chart of Sortino ratio for TBT, currently valued at 0.83, compared to the broader market0.005.0010.000.83
Omega ratio
The chart of Omega ratio for TBT, currently valued at 1.09, compared to the broader market0.501.001.502.002.503.003.501.09
Calmar ratio
The chart of Calmar ratio for TBT, currently valued at 0.16, compared to the broader market0.005.0010.0015.0020.000.16
Martin ratio
The chart of Martin ratio for TBT, currently valued at 0.82, compared to the broader market0.0020.0040.0060.0080.00100.00120.000.82
^GSPC
Sharpe ratio
The chart of Sharpe ratio for ^GSPC, currently valued at 2.15, compared to the broader market0.002.004.006.002.15
Sortino ratio
The chart of Sortino ratio for ^GSPC, currently valued at 3.06, compared to the broader market0.005.0010.003.06
Omega ratio
The chart of Omega ratio for ^GSPC, currently valued at 1.38, compared to the broader market0.501.001.502.002.503.003.501.38
Calmar ratio
The chart of Calmar ratio for ^GSPC, currently valued at 1.72, compared to the broader market0.005.0010.0015.0020.001.72
Martin ratio
The chart of Martin ratio for ^GSPC, currently valued at 8.07, compared to the broader market0.0020.0040.0060.0080.00100.00120.008.07

Sharpe Ratio

The current ProShares UltraShort 20+ Year Treasury Sharpe ratio is 0.42. This value is calculated based on the past 1 year of trading data and takes into account price changes and dividends.

Use the chart below to compare the Sharpe ratio of ProShares UltraShort 20+ Year Treasury with the selected benchmark, providing insights into the investment's historical performance in terms of risk-adjusted returns. Go to the Sharpe ratio tool for more fine-grained control over the calculation options.


Rolling 12-month Sharpe Ratio-0.500.000.501.001.502.002.503.002024FebruaryMarchAprilMayJune
0.42
2.15
TBT (ProShares UltraShort 20+ Year Treasury)
Benchmark (^GSPC)

Dividends

Dividend History

ProShares UltraShort 20+ Year Treasury granted a 4.61% dividend yield in the last twelve months. The annual payout for that period amounted to $1.54 per share.


PeriodTTM202320222021202020192018
Dividend$1.54$1.50$0.14$0.00$0.05$0.56$0.35

Dividend yield

4.61%4.98%0.42%0.00%0.27%2.12%0.99%

Monthly Dividends

The table displays the monthly dividend distributions for ProShares UltraShort 20+ Year Treasury. The dividends shown in the table have been adjusted to account for any splits that may have occurred.


JanFebMarAprMayJunJulAugSepOctNovDecTotal
2024$0.00$0.00$0.36$0.00$0.00$0.00$0.36
2023$0.00$0.00$0.33$0.00$0.00$0.34$0.00$0.00$0.31$0.00$0.00$0.52$1.50
2022$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.14$0.14
2021$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00
2020$0.00$0.00$0.05$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.05
2019$0.00$0.00$0.11$0.00$0.00$0.15$0.00$0.00$0.17$0.00$0.00$0.13$0.56
2018$0.03$0.00$0.00$0.07$0.00$0.00$0.10$0.00$0.00$0.15$0.35

Drawdowns

Drawdowns Chart

The Drawdowns chart displays portfolio losses from any high point along the way.


-80.00%-60.00%-40.00%-20.00%0.00%2024FebruaryMarchAprilMayJune
-87.65%
0
TBT (ProShares UltraShort 20+ Year Treasury)
Benchmark (^GSPC)

Worst Drawdowns

The table below displays the maximum drawdowns of the ProShares UltraShort 20+ Year Treasury. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.

The maximum drawdown for the ProShares UltraShort 20+ Year Treasury was 94.99%, occurring on Aug 4, 2020. The portfolio has not yet recovered.

The current ProShares UltraShort 20+ Year Treasury drawdown is 87.65%.


Depth

Start

To Bottom

Bottom

To Recover

End

Total

-94.99%Jun 16, 20083056Aug 4, 2020
-3.64%May 30, 20083Jun 3, 20087Jun 12, 200810
-3.62%May 7, 20083May 9, 200812May 28, 200815
-0.01%May 5, 20081May 5, 20081May 6, 20082

Volatility

Volatility Chart

The current ProShares UltraShort 20+ Year Treasury volatility is 9.27%, representing the average percentage change in the investments's value, either up or down over the past month. The chart below shows the rolling one-month volatility.


2.00%4.00%6.00%8.00%10.00%2024FebruaryMarchAprilMayJune
9.27%
2.49%
TBT (ProShares UltraShort 20+ Year Treasury)
Benchmark (^GSPC)