TBF vs. VOO
Compare and contrast key facts about ProShares Short 20+ Year Treasury (TBF) and Vanguard S&P 500 ETF (VOO).
TBF and VOO are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. TBF is a passively managed fund by ProShares that tracks the performance of the U.S. Treasury 20+ Year Index (-100%). It was launched on Aug 20, 2009. VOO is a passively managed fund by Vanguard that tracks the performance of the S&P 500 Index. It was launched on Sep 7, 2010. Both TBF and VOO are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: TBF or VOO.
Key characteristics
| TBF | VOO | |
|---|---|---|
| YTD Return | 12.85% | 26.94% |
| 1Y Return | 2.59% | 35.06% |
| 3Y Return (Ann) | 17.53% | 10.23% |
| 5Y Return (Ann) | 6.39% | 15.77% |
| 10Y Return (Ann) | 0.10% | 13.41% |
| Sharpe Ratio | 0.01 | 3.08 |
| Sortino Ratio | 0.13 | 4.09 |
| Omega Ratio | 1.01 | 1.58 |
| Calmar Ratio | 0.00 | 4.46 |
| Martin Ratio | 0.03 | 20.36 |
| Ulcer Index | 6.42% | 1.85% |
| Daily Std Dev | 14.95% | 12.23% |
| Max Drawdown | -70.40% | -33.99% |
| Current Drawdown | -47.04% | -0.25% |
Correlation
The correlation between TBF and VOO is 0.26, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.
Performance
TBF vs. VOO - Performance Comparison
In the year-to-date period, TBF achieves a 12.85% return, which is significantly lower than VOO's 26.94% return. Over the past 10 years, TBF has underperformed VOO with an annualized return of 0.10%, while VOO has yielded a comparatively higher 13.41% annualized return. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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TBF vs. VOO - Expense Ratio Comparison
TBF has a 0.94% expense ratio, which is higher than VOO's 0.03% expense ratio.
Risk-Adjusted Performance
TBF vs. VOO - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares Short 20+ Year Treasury (TBF) and Vanguard S&P 500 ETF (VOO). 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.
Dividends
TBF vs. VOO - Dividend Comparison
TBF's dividend yield for the trailing twelve months is around 4.71%, more than VOO's 1.23% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
TBF ProShares Short 20+ Year Treasury | 4.71% | 4.99% | 0.36% | 0.00% | 0.22% | 1.68% | 0.88% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
VOO Vanguard S&P 500 ETF | 1.23% | 1.46% | 1.69% | 1.25% | 1.54% | 1.88% | 2.06% | 1.78% | 2.02% | 2.10% | 1.85% | 1.84% |
Drawdowns
TBF vs. VOO - Drawdown Comparison
The maximum TBF drawdown since its inception was -70.40%, which is greater than VOO's maximum drawdown of -33.99%. Use the drawdown chart below to compare losses from any high point for TBF and VOO. For additional features, visit the drawdowns tool.
Volatility
TBF vs. VOO - Volatility Comparison
ProShares Short 20+ Year Treasury (TBF) has a higher volatility of 4.94% compared to Vanguard S&P 500 ETF (VOO) at 3.78%. This indicates that TBF's price experiences larger fluctuations and is considered to be riskier than VOO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.