TBX vs. ^TYX

Last updated Apr 3, 2026

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.

Performance

TBX vs. ^TYX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares Short 7-10 Year Treasury (TBX) and Treasury Yield 30 Years (^TYX). The values are adjusted to include any dividend payments, if applicable.

TBX vs. ^TYX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
TBX ProShares Short 7-10 Year Treasury	1.40%	-1.15%	8.52%	3.99%	18.31%	1.70%	-9.96%	-5.20%	1.25%	-2.61%
^TYX Treasury Yield 30 Years	1.03%	1.13%	19.08%	1.11%	108.66%	15.74%	-31.10%	-20.89%	10.26%	-10.58%

Returns By Period

In the year-to-date period, TBX achieves a 1.40% return, which is significantly higher than ^TYX's 1.03% return. Over the past 10 years, TBX has underperformed ^TYX with an annualized return of 1.71%, while ^TYX has yielded a comparatively higher 6.48% annualized return.

TBX

• 1D: -0.17%
• 1M: 1.96%
• YTD: 1.40%
• 6M: 2.45%
• 1Y: 2.23%
• 3Y*: 5.19%
• 5Y*: 5.30%
• 10Y*: 1.71%

^TYX

• 1D: -0.20%
• 1M: 4.00%
• YTD: 1.03%
• 6M: 4.15%
• 1Y: 7.40%
• 3Y*: 10.30%
• 5Y*: 15.88%
• 10Y*: 6.48%

*Multi-year figures are annualized to reflect compound growth (CAGR)

Return for Risk

TBX vs. ^TYX — Risk / Return Rank

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

TBX

TBX Risk / Return Rank: 18
TBX Sharpe Ratio Rank: 18
TBX Sortino Ratio Rank: 16
TBX Omega Ratio Rank: 18
TBX Calmar Ratio Rank: 21
TBX Martin Ratio Rank: 16

^TYX

^TYX Risk / Return Rank: 26
^TYX Sharpe Ratio Rank: 31
^TYX Sortino Ratio Rank: 30
^TYX Omega Ratio Rank: 27
^TYX Calmar Ratio Rank: 21
^TYX Martin Ratio Rank: 21

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.

TBX vs. ^TYX - Risk-Adjusted Trends 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.

	TBX	^TYX	Difference
Sharpe ratio Return per unit of total volatility	0.27	0.50	-0.23
Sortino ratio Return per unit of downside risk	0.44	0.84	-0.40
Omega ratio Gain probability vs. loss probability	1.07	1.10	-0.03
Calmar ratio Return relative to maximum drawdown	0.57	0.22	+0.35
Martin ratio Return relative to average drawdown	0.80	0.42	+0.38
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

TBX vs. ^TYX - Sharpe Ratio Comparison

The current TBX Sharpe Ratio is 0.27, which is lower than the ^TYX Sharpe Ratio of 0.50. The chart below compares the historical Sharpe Ratios of TBX and ^TYX, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	TBX	^TYX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.27	0.50	-0.23
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.63	0.61	+0.02
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.24	0.19	+0.05
Sharpe Ratio (All Time) Calculated using the full available price history	-0.17	-0.03	-0.15

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.

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.

Drawdown Indicators

	TBX	^TYX	Difference
Max Drawdown Largest peak-to-trough decline	-41.04%	-88.52%	+47.48%
Max Drawdown (1Y) Largest decline over 1 year	-6.77%	-10.83%	+4.06%
Max Drawdown (5Y) Largest decline over 5 years	-7.77%	-30.52%	+22.75%
Max Drawdown (10Y) Largest decline over 10 years	-19.46%	-72.86%	+53.40%
Current Drawdown Current decline from peak	-18.44%	-40.07%	+21.63%
Average Drawdown Average peak-to-trough decline	-26.74%	-46.00%	+19.26%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.85%	5.65%	-0.80%

Volatility

TBX vs. ^TYX - Volatility Comparison

The current volatility for ProShares Short 7-10 Year Treasury (TBX) is 1.93%, while Treasury Yield 30 Years (^TYX) has a volatility of 4.22%. 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.

Volatility by Period

	TBX	^TYX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.93%	4.22%	-2.29%
Volatility (6M) Calculated over the trailing 6-month period	3.22%	8.18%	-4.96%
Volatility (1Y) Calculated over the trailing 1-year period	8.58%	14.37%	-5.79%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	8.43%	25.35%	-16.92%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	7.14%	33.22%	-26.08%