TBX vs. ^TYX
Compare and contrast key facts about ProShares Short 7-10 Year Treasury (TBX) and Treasury Yield 30 Years (^TYX).
TBX is a passively managed fund by ProShares that tracks the performance of the ICE BofA US Treasury (7-10 Y) (-100%). It was launched on Apr 4, 2011.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: TBX or ^TYX.
Key characteristics
| TBX | ^TYX | |
|---|---|---|
| YTD Return | 1.41% | 1.19% |
| 1Y Return | 0.01% | -7.06% |
| 3Y Return (Ann) | 7.99% | 27.39% |
| 5Y Return (Ann) | 3.28% | 14.77% |
| 10Y Return (Ann) | -0.17% | 2.25% |
| Sharpe Ratio | 0.08 | -0.33 |
| Daily Std Dev | 8.09% | 21.35% |
| Max Drawdown | -41.04% | -88.52% |
| Current Drawdown | -23.95% | -50.15% |
Correlation
The correlation between TBX and ^TYX is 0.79, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Performance
TBX vs. ^TYX - Performance Comparison
In the year-to-date period, TBX achieves a 1.41% return, which is significantly higher than ^TYX's 1.19% return. Over the past 10 years, TBX has underperformed ^TYX with an annualized return of -0.17%, while ^TYX has yielded a comparatively higher 2.25% 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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Risk-Adjusted Performance
TBX vs. ^TYX - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares Short 7-10 Year Treasury (TBX) and Treasury Yield 30 Years (^TYX). 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.
Drawdowns
TBX vs. ^TYX - Drawdown Comparison
The maximum TBX drawdown since its inception was -41.04%, smaller than the maximum ^TYX drawdown of -88.52%. Use the drawdown chart below to compare losses from any high point for TBX and ^TYX. For additional features, visit the drawdowns tool.
Volatility
TBX vs. ^TYX - Volatility Comparison
The current volatility for ProShares Short 7-10 Year Treasury (TBX) is 1.76%, while Treasury Yield 30 Years (^TYX) has a volatility of 5.22%. This indicates that TBX experiences smaller price fluctuations and is considered to be less risky than ^TYX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.