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 2.02%/yr vs 59.37%/yr for BTC-USD. At a correlation of -0.00, they often move in opposite directions.
Performance
TBX vs. BTC-USD - Performance Comparison
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Returns By Period
In the year-to-date period, TBX achieves a 3.46% return, which is significantly higher than BTC-USD's -29.97% return. Over the past 10 years, TBX has underperformed BTC-USD with an annualized return of 2.02%, while BTC-USD has yielded a comparatively higher 59.37% annualized return.
TBX
- 1D
- 0.53%
- 1M
- 1.61%
- YTD
- 3.46%
- 6M
- 3.86%
- 1Y
- 2.74%
- 3Y*
- 4.91%
- 5Y*
- 6.07%
- 10Y*
- 2.02%
BTC-USD
- 1D
- -3.97%
- 1M
- -24.76%
- YTD
- -29.97%
- 6M
- -31.42%
- 1Y
- -39.67%
- 3Y*
- 31.02%
- 5Y*
- 11.35%
- 10Y*
- 59.37%
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 | 3.46% | -1.15% | 8.52% | 3.99% | 18.31% | 1.70% | -9.96% | -5.20% | 1.25% | -2.61% |
BTC-USD Bitcoin | -29.97% | -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 -0.06, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.06 |
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 Sep 21, 2012 | -0.00 |
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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.
| TBX | BTC-USD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.49 | ||
| Sortino ratioReturn per unit of downside risk | +2.11 | ||
| Omega ratioGain probability vs. loss probability | 1.10 | 0.87 | +0.23 |
| Calmar ratioReturn relative to maximum drawdown | 0.81 | -0.78 | +1.59 |
| Martin ratioReturn relative to average drawdown | 1.53 | -1.39 | +2.92 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| TBX | BTC-USD | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.56 | -0.93 | +1.49 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.72 | 0.21 | +0.51 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.28 | 0.87 | -0.59 |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.15 | 1.13 | -1.28 |
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.
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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 | -3.39% | -50.87% | +47.48% |
Max Drawdown (3Y)Largest decline over 3 years | -7.77% | -50.87% | +43.10% |
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 | -16.78% | -50.87% | +34.09% |
Average DrawdownAverage peak-to-trough decline | -26.63% | -42.29% | +15.66% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.80% | 34.02% | -32.22% |
Volatility
TBX vs. BTC-USD - Volatility Comparison
The current volatility for ProShares Short 7-10 Year Treasury (TBX) is 1.65%, while Bitcoin (BTC-USD) has a volatility of 10.54%. 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.
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Volatility by Period
| TBX | BTC-USD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.65% | 10.54% | -8.89% |
Volatility (6M)Calculated over the trailing 6-month period | 3.42% | 34.26% | -30.84% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.94% | 35.65% | -30.71% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.44% | 44.98% | -36.54% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.14% | 56.70% | -49.56% |
Frequently Asked Questions
TBX and BTC-USD have a correlation of -0.06, 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 (10.54%) compared to TBX (1.65%). In terms of maximum drawdown, TBX dropped -41.04% vs BTC-USD's -85.30%.
TBX currently has the higher Sharpe Ratio (0.56 vs -0.93), 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.
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