TBX vs. BTC-USD
TBX (ProShares Short 7-10 Year Treasury) is Inverse Bonds fund tracking the ICE BofA US Treasury (7-10 Y) (-100%), while BTC-USD (Bitcoin) is a cryptocurrency. Over the past 10 years, TBX returned 2.19%/yr vs 57.64%/yr for BTC-USD. At a correlation of -0.00, they often move in opposite directions.
Performance
TBX vs. BTC-USD - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, TBX achieves a 3.50% return, which is significantly higher than BTC-USD's -27.00% return. Over the past 10 years, TBX has underperformed BTC-USD with an annualized return of 2.19%, while BTC-USD has yielded a comparatively higher 57.64% annualized return.
TBX
- 1D
- -0.06%
- 1M
- 0.30%
- 6M
- 2.94%
- YTD
- 3.50%
- 1Y
- 2.47%
- 3Y*
- 4.48%
- 5Y*
- 6.52%
- 10Y*
- 2.19%
BTC-USD
- 1D
- 0.16%
- 1M
- -0.89%
- 6M
- -33.12%
- YTD
- -27.00%
- 1Y
- -46.45%
- 3Y*
- 28.84%
- 5Y*
- 14.98%
- 10Y*
- 57.64%
TBX vs. BTC-USD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
TBX ProShares Short 7-10 Year Treasury | 3.50% | -1.15% | 8.52% | 3.99% | 18.31% | 1.70% | -9.96% | -5.20% | 1.25% | -2.61% |
BTC-USD Bitcoin | -27.00% | -6.27% | 120.76% | 155.82% | -64.23% | 59.40% | 304.57% | 94.10% | -73.37% | 1,324.24% |
Correlation
The correlation between TBX and BTC-USD is -0.11, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.11 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.00 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.01 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.00 |
Correlation (All Time) Calculated using the full available price history since Nov 1, 2012 | -0.00 |
The correlation between TBX and BTC-USD shifts across timeframes, from -0.11 (1 year) to -0.00 (10 years), reflecting how their relationship changes across market environments.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
TBX vs. BTC-USD — Risk / Return Rank
TBX
BTC-USD
TBX vs. BTC-USD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares Short 7-10 Year Treasury (TBX) and Bitcoin (BTC-USD). 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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| TBX | BTC-USD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.61 | ||
| Sortino ratioReturn per unit of downside risk | +2.43 | ||
| Omega ratioGain probability vs. loss probability | 1.09 | 0.83 | +0.26 |
| Calmar ratioReturn relative to maximum drawdown | 0.92 | -0.88 | +1.80 |
| Martin ratioReturn relative to average drawdown | 1.92 | -1.41 | +3.33 |
Loading charts...
Drawdowns
TBX vs. BTC-USD - Drawdown Comparison
The maximum TBX drawdown since its inception was -41.04%, smaller than the maximum BTC-USD drawdown of -85.30%. Use the drawdown chart below to compare losses from any high point for TBX and BTC-USD.
Loading charts...
Drawdown Indicators
| TBX | BTC-USD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -41.04% | -85.30% | +44.26% |
Max Drawdown (1Y)Largest decline over 1 year | -2.69% | -53.08% | +50.39% |
Max Drawdown (3Y)Largest decline over 3 years | -7.77% | -53.08% | +45.31% |
Max Drawdown (5Y)Largest decline over 5 years | -7.77% | -76.67% | +68.90% |
Max Drawdown (10Y)Largest decline over 10 years | -19.46% | -83.80% | +64.34% |
Current DrawdownCurrent decline from peak | -16.75% | -48.79% | +32.04% |
Average DrawdownAverage peak-to-trough decline | -26.56% | -42.59% | +16.03% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.35% | 29.41% | -28.06% |
Volatility
TBX vs. BTC-USD - Volatility Comparison
The current volatility for ProShares Short 7-10 Year Treasury (TBX) is 1.47%, while Bitcoin (BTC-USD) has a volatility of 9.63%. This indicates that TBX experiences smaller price fluctuations and is considered to be less risky than BTC-USD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| TBX | BTC-USD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.47% | 9.63% | -8.16% |
Volatility (6M)Calculated over the trailing 6-month period | 3.67% | 34.90% | -31.23% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.73% | 35.73% | -31.00% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.44% | 43.96% | -35.52% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.11% | 56.33% | -49.22% |
Frequently Asked Questions
TBX and BTC-USD have a correlation of -0.11, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BTC-USD has higher volatility (9.63%) compared to TBX (1.47%). In terms of maximum drawdown, TBX dropped -41.04% vs BTC-USD's -85.30%.
TBX currently has the higher Sharpe Ratio (0.52 vs -1.08), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
Find the right allocation for TBX and BTC-USD
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer