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TBX vs. TBT
Performance
Risk-Adjusted Performance
Dividends
Drawdowns
Volatility

Correlation

The correlation between TBX and TBT is 0.83, 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.


-0.50.00.51.00.8

Performance

TBX vs. TBT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares Short 7-10 Year Treasury (TBX) and ProShares UltraShort 20+ Year Treasury (TBT). The values are adjusted to include any dividend payments, if applicable.

-15.00%-10.00%-5.00%0.00%5.00%10.00%JulyAugustSeptemberOctoberNovemberDecember
3.47%
9.53%
TBX
TBT

Key characteristics

Sharpe Ratio

TBX:

1.10

TBT:

0.75

Sortino Ratio

TBX:

1.69

TBT:

1.26

Omega Ratio

TBX:

1.19

TBT:

1.14

Calmar Ratio

TBX:

0.30

TBT:

0.24

Martin Ratio

TBX:

2.85

TBT:

1.88

Ulcer Index

TBX:

2.73%

TBT:

11.28%

Daily Std Dev

TBX:

7.05%

TBT:

28.19%

Max Drawdown

TBX:

-41.04%

TBT:

-94.99%

Current Drawdown

TBX:

-19.07%

TBT:

-86.46%

Returns By Period

In the year-to-date period, TBX achieves a 7.92% return, which is significantly lower than TBT's 22.31% return. Over the past 10 years, TBX has outperformed TBT with an annualized return of 0.80%, while TBT has yielded a comparatively lower -1.50% annualized return.


TBX

YTD

7.92%

1M

0.74%

6M

3.75%

1Y

8.02%

5Y*

4.00%

10Y*

0.80%

TBT

YTD

22.31%

1M

1.37%

6M

11.06%

1Y

22.40%

5Y*

8.45%

10Y*

-1.50%

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TBX vs. TBT - Expense Ratio Comparison

TBX has a 0.95% expense ratio, which is higher than TBT's 0.92% expense ratio.


TBX
ProShares Short 7-10 Year Treasury
Expense ratio chart for TBX: current value at 0.95% compared with the broader market ranging from 0.00% to 2.12%.0.50%1.00%1.50%2.00%0.95%
Expense ratio chart for TBT: current value at 0.92% compared with the broader market ranging from 0.00% to 2.12%.0.50%1.00%1.50%2.00%0.92%

Risk-Adjusted Performance

TBX vs. TBT - Risk-Adjusted Performance Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares Short 7-10 Year Treasury (TBX) and ProShares UltraShort 20+ Year Treasury (TBT). 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.


Sharpe ratio
The chart of Sharpe ratio for TBX, currently valued at 1.10, compared to the broader market0.002.004.001.100.75
The chart of Sortino ratio for TBX, currently valued at 1.69, compared to the broader market-2.000.002.004.006.008.0010.001.691.26
The chart of Omega ratio for TBX, currently valued at 1.19, compared to the broader market0.501.001.502.002.503.001.191.14
The chart of Calmar ratio for TBX, currently valued at 0.30, compared to the broader market0.005.0010.0015.000.300.27
The chart of Martin ratio for TBX, currently valued at 2.85, compared to the broader market0.0020.0040.0060.0080.00100.002.851.88
TBX
TBT

The current TBX Sharpe Ratio is 1.10, which is higher than the TBT Sharpe Ratio of 0.75. The chart below compares the historical Sharpe Ratios of TBX and TBT, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.


Rolling 12-month Sharpe Ratio-0.500.000.501.00JulyAugustSeptemberOctoberNovemberDecember
1.10
0.75
TBX
TBT

Dividends

TBX vs. TBT - Dividend Comparison

TBX's dividend yield for the trailing twelve months is around 5.41%, more than TBT's 5.00% yield.


TTM202320222021202020192018
TBX
ProShares Short 7-10 Year Treasury
2.98%4.06%0.40%0.00%0.10%1.53%0.72%
TBT
ProShares UltraShort 20+ Year Treasury
3.53%4.98%0.42%0.00%0.32%2.12%0.99%

Drawdowns

TBX vs. TBT - Drawdown Comparison

The maximum TBX drawdown since its inception was -41.04%, smaller than the maximum TBT drawdown of -94.99%. Use the drawdown chart below to compare losses from any high point for TBX and TBT. For additional features, visit the drawdowns tool.


-80.00%-70.00%-60.00%-50.00%-40.00%-30.00%-20.00%JulyAugustSeptemberOctoberNovemberDecember
-19.07%
-74.17%
TBX
TBT

Volatility

TBX vs. TBT - Volatility Comparison

The current volatility for ProShares Short 7-10 Year Treasury (TBX) is 2.05%, while ProShares UltraShort 20+ Year Treasury (TBT) has a volatility of 8.43%. This indicates that TBX experiences smaller price fluctuations and is considered to be less risky than TBT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.


2.00%4.00%6.00%8.00%10.00%JulyAugustSeptemberOctoberNovemberDecember
2.05%
8.43%
TBX
TBT
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Disclaimer

The information contained herein does not constitute investment advice and made available for educational purposes only. Prices and returns on equities are listed without consideration of fees, commissions, taxes, penalties, or interest payable due to purchasing, holding, or selling.

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