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ProShares Ultra 20+ Year Treasury (UBT) Sharpe Ratio: 0.24

ETF · Currency in USD · Last updated Jun 3, 2026

UBT is a passive ETF by ProShares tracking the investment results of the Barclays Capital U.S. 20+ Year Treasury Index (200%). UBT launched on Jan 19, 2010 and has a 0.95% expense ratio.

UBT's Sharpe Ratio of 0.24 indicates that for each unit of volatility, it generates 0.24 units of excess return above the risk-free rate. The ratio is calculated using historical daily returns over the past 12 months (as of Jun 3, 2026).

Sharpe uses total volatility (standard deviation) which includes both upside and downside price movements, making it useful for comparing risk-adjusted returns across different assets.

UBT Sharpe Ratio Rank

UBT Sharpe Ratio Rank: 12.112
Concerning

UBT ranks above 12.1% of all investments in our database based on Sharpe Ratio over the past 12 months, indicating weak returns relative to total risk taken. Securities are ranked from 0 (worst) to 100 (best).

What moves the rank

  • Strong returns with low total volatility → Higher rank
  • High volatility (both upside and downside) → Lower rank
  • Consistent returns → Higher rank than volatile returns of same magnitude
  • Sharp drawdowns increase volatility → Lower rank

What you can do with this information

  • Weak risk-adjusted returns relative to category peers
  • Evaluate whether this holding aligns with your risk-return objectives
  • Consider reducing exposure or re-evaluating position size
  • Review higher-ranked alternatives in the same category

UBT Sharpe Ratio Market Positioning

The chart shows UBT's Sharpe Ratio relative to all ETFs on our platform, with color zones indicating percentile rankings. Higher ratios indicate better risk-adjusted returns.

  • Red zone (bottom 25%): 0.91 or lower
  • Yellow zone (middle 50%): 0.91 to 2.51
  • Green zone (top 25%): 2.51 or higher
  • Top 1%: 7.86+
  • Median: 1.78 — half of all investments score higher

How it compares to other similar ETFs

The table compares ProShares Ultra 20+ Year Treasury's Sharpe Ratio with other ETFs in the Leveraged Bonds category across multiple time periods, showing how UBT's risk-adjusted performance compares to similar funds.

Data shows 1-, 5-, and 10-year periods, plus each fund's all-time average, as of Jun 3, 2026.

SymbolName1Y Sharpe Ratio5Y Sharpe Ratio10Y Sharpe RatioAll Time Sharpe Ratio
GOOXT-Rex 2X Long Alphabet Daily Target ETF4.73
UJBProShares Ultra High Yield1.29
RSBAReturn Stacked Bonds & Merger Arbitrage ETF1.08
PFFLETRACS Monthly Pay 2xLeveraged Preferred Stock ETN0.60
USTProShares Ultra 7-10 Year Treasury0.43
UBTProShares Ultra 20+ Year Treasury0.24
TYODirexion Daily 7-10 Year Treasury Bear 3X0.16
PSTProShares UltraShort 7-10 Year Treasury0.09
TYDDirexion Daily 7-10 Year Treasury Bull 3X0.08
TMFDirexion Daily 20-Year Treasury Bull 3X0.06

S&P 500 Index

How to choose period

Historical Sharpe Ratio

The chart shows UBT's rolling Sharpe ratio over time compared to your chosen benchmark. Rising trends indicate improving returns relative to total volatility, while declining trends may signal deteriorating risk-adjusted performance or increased volatility. Use multiple timeframes to distinguish short-term fluctuations from long-term patterns.

Identify market cycles by observing when UBT consistently outperforms (line above benchmark), underperforms (below benchmark), or aligns with the benchmark.

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Sharpe Ratio Calculator

How does UBT fit in your portfolio?

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