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TBF vs. BND
Performance
Return for Risk
Dividends
Drawdowns
Volatility

Performance

TBF vs. BND - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares Short 20+ Year Treasury (TBF) and Vanguard Total Bond Market ETF (BND). The values are adjusted to include any dividend payments, if applicable.

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TBF vs. BND - Yearly Performance Comparison


2026 (YTD)202520242023202220212020201920182017
TBF
ProShares Short 20+ Year Treasury
1.01%1.27%16.33%2.43%42.37%1.33%-19.35%-10.96%3.26%-8.46%
BND
Vanguard Total Bond Market ETF
0.09%7.08%1.38%5.65%-13.11%-1.86%7.71%8.84%-0.12%3.57%

Returns By Period

In the year-to-date period, TBF achieves a 1.01% return, which is significantly higher than BND's 0.09% return. Over the past 10 years, TBF has outperformed BND with an annualized return of 2.36%, while BND has yielded a comparatively lower 1.68% annualized return.


TBF

1D
0.17%
1M
3.85%
YTD
1.01%
6M
3.77%
1Y
6.81%
3Y*
9.02%
5Y*
9.20%
10Y*
2.36%

BND

1D
0.04%
1M
-1.30%
YTD
0.09%
6M
0.74%
1Y
3.96%
3Y*
3.60%
5Y*
0.25%
10Y*
1.68%
*Multi-year figures are annualized to reflect compound growth (CAGR)

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TBF vs. BND - Expense Ratio Comparison

TBF has a 0.94% expense ratio, which is higher than BND's 0.03% expense ratio.


Return for Risk

TBF vs. BND — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

TBF
TBF Risk / Return Rank: 2828
Overall Rank
TBF Sharpe Ratio Rank: 3131
Sharpe Ratio Rank
TBF Sortino Ratio Rank: 3232
Sortino Ratio Rank
TBF Omega Ratio Rank: 2626
Omega Ratio Rank
TBF Calmar Ratio Rank: 2929
Calmar Ratio Rank
TBF Martin Ratio Rank: 2222
Martin Ratio Rank

BND
BND Risk / Return Rank: 5050
Overall Rank
BND Sharpe Ratio Rank: 4949
Sharpe Ratio Rank
BND Sortino Ratio Rank: 4646
Sortino Ratio Rank
BND Omega Ratio Rank: 3939
Omega Ratio Rank
BND Calmar Ratio Rank: 6767
Calmar Ratio Rank
BND Martin Ratio Rank: 4848
Martin Ratio Rank
The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

TBF vs. BND - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares Short 20+ Year Treasury (TBF) and Vanguard Total Bond Market ETF (BND). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.


TBFBNDDifference

Sharpe ratio

Return per unit of total volatility

0.62

0.93

-0.31

Sortino ratio

Return per unit of downside risk

1.00

1.32

-0.32

Omega ratio

Gain probability vs. loss probability

1.11

1.16

-0.05

Calmar ratio

Return relative to maximum drawdown

0.72

1.75

-1.03

Martin ratio

Return relative to average drawdown

1.45

4.78

-3.33

TBF vs. BND - Sharpe Ratio Comparison

The current TBF Sharpe Ratio is 0.62, which is lower than the BND Sharpe Ratio of 0.93. The chart below compares the historical Sharpe Ratios of TBF and BND, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.


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Sharpe Ratios by Period


TBFBNDDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

0.62

0.93

-0.31

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.59

0.04

+0.55

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.16

0.30

-0.14

Sharpe Ratio (All Time)

Calculated using the full available price history

-0.22

0.59

-0.81

Correlation

The correlation between TBF and BND is -0.88. This indicates that the assets' prices tend to move in opposite directions. Negative correlation can be particularly beneficial for diversification and risk management, as one asset may offset the losses of the other during market fluctuations.


Dividends

TBF vs. BND - Dividend Comparison

TBF's dividend yield for the trailing twelve months is around 2.88%, less than BND's 3.93% yield.


TTM20252024202320222021202020192018201720162015
TBF
ProShares Short 20+ Year Treasury
2.88%3.39%4.06%4.99%0.36%0.00%0.22%1.68%0.88%0.00%0.00%0.00%
BND
Vanguard Total Bond Market ETF
3.93%3.86%3.67%3.09%2.60%2.12%2.38%2.72%2.81%2.54%2.51%2.57%

Drawdowns

TBF vs. BND - Drawdown Comparison

The maximum TBF drawdown since its inception was -70.40%, which is greater than BND's maximum drawdown of -18.58%. Use the drawdown chart below to compare losses from any high point for TBF and BND.


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Drawdown Indicators


TBFBNDDifference

Max Drawdown

Largest peak-to-trough decline

-70.40%

-18.58%

-51.82%

Max Drawdown (1Y)

Largest decline over 1 year

-8.11%

-2.44%

-5.67%

Max Drawdown (5Y)

Largest decline over 5 years

-17.79%

-17.91%

+0.12%

Max Drawdown (10Y)

Largest decline over 10 years

-38.39%

-18.58%

-19.81%

Current Drawdown

Current decline from peak

-44.16%

-2.54%

-41.62%

Average Drawdown

Average peak-to-trough decline

-47.47%

-3.07%

-44.40%

Ulcer Index

Depth and duration of drawdowns from previous peaks

4.04%

0.90%

+3.14%

Volatility

TBF vs. BND - Volatility Comparison

ProShares Short 20+ Year Treasury (TBF) has a higher volatility of 3.61% compared to Vanguard Total Bond Market ETF (BND) at 1.63%. This indicates that TBF's price experiences larger fluctuations and is considered to be riskier than BND based on this measure. The chart below showcases a comparison of their rolling one-month volatility.


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Volatility by Period


TBFBNDDifference

Volatility (1M)

Calculated over the trailing 1-month period

3.61%

1.63%

+1.98%

Volatility (6M)

Calculated over the trailing 6-month period

6.47%

2.52%

+3.95%

Volatility (1Y)

Calculated over the trailing 1-year period

11.04%

4.30%

+6.74%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

15.74%

6.00%

+9.74%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

14.54%

5.52%

+9.02%