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
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Performance
Performance Chart
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Returns By Period
ProShares UltraShort 20+ Year Treasury (TBT) returned 4.07% year-to-date (YTD) and 11.18% over the past 12 months. Over the past 10 years, TBT returned -0.82% annually, underperforming the S&P 500 benchmark at 10.78%.
TBT
4.07%
4.94%
9.39%
11.18%
22.19%
-0.82%
^GSPC (Benchmark)
0.19%
9.00%
-1.55%
12.31%
15.59%
10.78%
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.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2025 | -0.35% | -9.89% | 3.10% | 2.26% | 9.94% | 4.07% | |||||||
| 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 32, 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 4.21% 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 | 4.21% | 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 | $0.26 | |||||||
| 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 85.29%.
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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