ProShares UltraShort 20+ Year Treasury (TBT)
TBT is a passive ETF by ProShares tracking the investment results of the U.S. Treasury 20+ Year Index (-200%). TBT launched on May 1, 2008 and has a 0.92% expense ratio.
ETF Info
US74347B2016
74347B201
May 1, 2008
North America (U.S.)
2x
U.S. Treasury 20+ Year Index (-200%)
Expense Ratio
TBT has an expense ratio of 0.92%, placing it in the medium range.
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.
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.
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Returns By Period
ProShares UltraShort 20+ Year Treasury (TBT) has returned 1.49% so far this year and 13.16% over the past 12 months. Over the last ten years, TBT has returned -1.69% per year, falling short of the S&P 500 benchmark, which averaged 11.61% annually.
TBT
- YTD
- 1.49%
- 1M
- -1.95%
- 6M
- 0.07%
- 1Y
- 13.16%
- 3Y*
- 15.11%
- 5Y*
- 21.30%
- 10Y*
- -1.69%
^GSPC (Benchmark)
- YTD
- 5.92%
- 1M
- 3.83%
- 6M
- 4.26%
- 1Y
- 11.91%
- 3Y*
- 16.90%
- 5Y*
- 14.47%
- 10Y*
- 11.61%
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.
Based on daily data since May 2008, the average daily return (also called the expected return) is -0.02%, while the average monthly return is -0.55%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2025 | -0.35% | -9.89% | 3.10% | 2.26% | 7.85% | -1.00% | 1.07% | ||||||
| 2024 | 5.36% | 5.47% | -0.75% | 15.05% | -4.83% | -3.12% | -5.98% | -3.92% | -2.98% | 12.86% | -3.54% | 14.36% | 27.66% |
| 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% |
| 2022 | 7.46% | 2.48% | 10.11% | 21.29% | 3.26% | 1.95% | -5.35% | 9.05% | 17.86% | 13.11% | -13.40% | 4.77% | 93.30% |
| 2021 | 7.06% | 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% | -19.55% | -2.49% | 3.00% | -1.55% | -8.62% | 10.39% | -2.12% | 6.62% | -3.82% | 1.99% | -37.94% |
| 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% |
| 2018 | 6.87% | 6.32% | -5.43% | 4.41% | -3.80% | -1.13% | 3.03% | -2.35% | 6.26% | 6.16% | -3.19% | -10.44% | 4.99% |
| 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% | -1.94% | -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% |
Risk-Adjusted Performance
Risk-Adjusted Performance Rank
The current rank of TBT is 28, indicating average performance compared to other ETFs on our website. Here’s a breakdown of how it compares using common performance measures.
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.
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Dividends
Dividend History
ProShares UltraShort 20+ Year Treasury provided a 4.33% dividend yield over the last twelve months, with an annual payout of $1.59 per share. The fund has been increasing its distributions for 2 consecutive years.
| Period | TTM | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|
| Dividend | $1.59 | $1.70 | $1.50 | $0.14 | $0.00 | $0.05 | $0.56 | $0.35 |
Dividend yield | 4.33% | 4.64% | 4.98% | 0.42% | 0.00% | 0.32% | 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.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2025 | $0.00 | $0.00 | $0.26 | $0.00 | $0.00 | $0.00 | $0.26 | ||||||
| 2024 | $0.00 | $0.00 | $0.36 | $0.00 | $0.00 | $0.48 | $0.00 | $0.00 | $0.42 | $0.00 | $0.00 | $0.44 | $1.70 |
| 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. Drawdowns are calculated considering price movements and all distributions paid, if any.
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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 85.65%.
Depth | Start | To Bottom | Bottom | To Recover | End | Total |
|---|---|---|---|---|---|---|
| -94.99% | Jun 16, 2008 | 3056 | Aug 4, 2020 | — | — | — |
| -3.64% | May 30, 2008 | 3 | Jun 3, 2008 | 7 | Jun 12, 2008 | 10 |
| -3.62% | May 7, 2008 | 3 | May 9, 2008 | 12 | May 28, 2008 | 15 |
| -0.01% | May 5, 2008 | 1 | May 5, 2008 | 1 | May 6, 2008 | 2 |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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