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ProShares Ultra 20+ Year Treasury (UBT)
Performance
Risk-Adjusted Performance
Dividends
Drawdowns
Volatility

ETF Info

ISIN

US74347R1721

CUSIP

74347R172

Issuer

ProShares

Inception Date

Jan 19, 2010

Region

North America (U.S.)

Leveraged

2x

Index Tracked

Barclays Capital U.S. 20+ Year Treasury Index (200%)

Asset Class

Bond

Expense Ratio

UBT has a high expense ratio of 0.95%, indicating above-average management fees.


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


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S&P 500

Returns By Period

ProShares Ultra 20+ Year Treasury (UBT) returned -2.74% year-to-date (YTD) and -10.61% over the past 12 months. Over the past 10 years, UBT returned -6.38% annually, underperforming the S&P 500 benchmark at 10.86%.


UBT

YTD

-2.74%

1M

-2.63%

6M

-8.03%

1Y

-10.61%

3Y*

-20.15%

5Y*

-23.32%

10Y*

-6.38%

^GSPC (Benchmark)

YTD

1.39%

1M

12.89%

6M

1.19%

1Y

12.45%

3Y*

15.19%

5Y*

14.95%

10Y*

10.86%

*Annualized

Monthly Returns

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


JanFebMarAprMayJunJulAugSepOctNovDecTotal
20250.18%10.75%-2.39%-3.41%-7.01%-2.74%
2024-5.65%-4.91%0.97%-13.07%5.24%2.94%6.69%4.03%3.12%-11.28%3.06%-12.41%-21.81%
202314.42%-9.70%9.06%0.04%-6.54%-0.66%-5.46%-6.67%-16.01%-11.60%19.38%17.69%-3.68%
2022-7.07%-3.82%-11.63%-17.88%-4.70%-2.85%4.10%-9.29%-16.42%-12.83%14.45%-5.96%-55.54%
2021-7.36%-11.27%-10.33%4.53%-0.06%8.68%7.48%-0.72%-5.93%4.50%5.37%-5.01%-12.14%
202015.90%13.80%9.74%2.04%-4.16%0.41%8.78%-10.11%1.58%-7.00%2.85%-2.33%31.87%
20190.08%-2.91%10.98%-4.16%13.90%1.65%0.21%22.72%-5.77%-2.55%-1.23%-6.75%24.45%
2018-6.62%-6.34%5.52%-4.43%3.48%1.00%-2.97%2.22%-5.84%-6.21%3.08%12.30%-6.54%
20171.27%3.22%-1.60%2.88%3.56%1.56%-1.69%6.77%-4.80%-0.16%1.11%3.42%16.12%
201612.03%5.95%0.48%-2.11%1.35%13.74%4.34%-2.46%-2.41%-9.58%-15.69%-1.34%0.54%
201520.06%-12.47%2.05%-6.90%-4.94%-8.47%9.23%-1.42%3.28%-1.43%-1.43%-1.91%-7.93%
201413.08%0.90%1.28%4.20%5.67%-0.57%1.47%8.71%-3.88%5.76%5.86%6.80%60.41%

Risk-Adjusted Performance

Risk-Adjusted Performance Rank

The current rank of UBT is 7, meaning it’s performing worse than 93% of other ETFs on our website when it comes to balancing risk and reward. Below is a breakdown of how it compares using common performance measures.


The Risk-Adjusted Performance Rank of UBT is 77
Overall Rank
The Sharpe Ratio Rank of UBT is 66
Sharpe Ratio Rank
The Sortino Ratio Rank of UBT is 66
Sortino Ratio Rank
The Omega Ratio Rank of UBT is 66
Omega Ratio Rank
The Calmar Ratio Rank of UBT is 99
Calmar Ratio Rank
The Martin Ratio Rank of UBT is 77
Martin 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 Ultra 20+ Year Treasury (UBT) and compare them to a chosen benchmark (^GSPC). These indicators evaluate an investment's returns against its associated risks.


The Sharpe ratio helps investors understand how much return they're getting for the level of risk taken. A higher Sharpe ratio indicates better risk-adjusted performance, meaning more reward for each unit of risk.

ProShares Ultra 20+ Year Treasury Sharpe ratios as of May 20, 2025 (values are recalculated daily):

  • 1-Year: -0.38
  • 5-Year: -0.73
  • 10-Year: -0.21
  • All Time: 0.02

These values reflect how efficiently the investment has delivered returns relative to its volatility over different time periods. All figures are annualized and based on daily total returns (including price changes and dividends).

The chart below shows the rolling Sharpe ratio of ProShares Ultra 20+ Year Treasury compared to the selected benchmark. This view highlights how the investment's risk-adjusted performance has changed over time. For deeper analysis or to customize the calculation, use the Sharpe ratio tool.


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Dividends

Dividend History

ProShares Ultra 20+ Year Treasury provided a 4.59% dividend yield over the last twelve months, with an annual payout of $0.75 per share.


0.00%1.00%2.00%3.00%4.00%$0.00$0.20$0.40$0.60$0.8020142015201620172018201920202021202220232024
Dividends
Dividend Yield
PeriodTTM20242023202220212020201920182017201620152014
Dividend$0.75$0.76$0.79$0.07$0.00$0.16$0.71$0.60$0.57$0.38$0.57$0.32

Dividend yield

4.59%4.50%3.53%0.30%0.00%0.26%1.50%1.55%1.37%1.04%1.56%0.79%

Monthly Dividends

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


JanFebMarAprMayJunJulAugSepOctNovDecTotal
2025$0.00$0.00$0.14$0.00$0.00$0.14
2024$0.00$0.00$0.15$0.00$0.00$0.21$0.00$0.00$0.19$0.00$0.00$0.21$0.76
2023$0.00$0.00$0.14$0.00$0.00$0.24$0.00$0.00$0.20$0.00$0.00$0.22$0.79
2022$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.07$0.07
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$0.16$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.16
2019$0.00$0.00$0.13$0.00$0.00$0.24$0.00$0.00$0.12$0.00$0.00$0.23$0.71
2018$0.00$0.00$0.11$0.00$0.00$0.18$0.00$0.00$0.14$0.00$0.00$0.17$0.60
2017$0.00$0.00$0.17$0.00$0.00$0.12$0.00$0.00$0.14$0.00$0.00$0.15$0.57
2016$0.00$0.00$0.21$0.00$0.00$0.11$0.00$0.00$0.06$0.00$0.00$0.00$0.38
2015$0.00$0.00$0.09$0.00$0.00$0.17$0.00$0.00$0.16$0.00$0.00$0.16$0.57
2014$0.00$0.00$0.00$0.10$0.00$0.00$0.13$0.00$0.00$0.10$0.32

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 Ultra 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 Ultra 20+ Year Treasury was 78.90%, occurring on Oct 19, 2023. The portfolio has not yet recovered.

The current ProShares Ultra 20+ Year Treasury drawdown is 77.13%.


Depth

Start

To Bottom

Bottom

To Recover

End

Total

-78.9%Mar 10, 2020911Oct 19, 2023
-38.31%Jul 26, 2012269Aug 21, 2013331Dec 12, 2014600
-36.38%Jul 11, 2016586Nov 2, 2018188Aug 6, 2019774
-32.2%Aug 27, 2010116Feb 10, 2011123Aug 8, 2011239
-30.26%Feb 2, 2015102Jun 26, 2015244Jun 16, 2016346

Volatility

Volatility Chart

The chart below shows the rolling one-month volatility.


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