TBX vs. ^GSPC
Compare and contrast key facts about ProShares Short 7-10 Year Treasury (TBX) and S&P 500 (^GSPC).
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 ^GSPC.
Performance
TBX vs. ^GSPC - Performance Comparison
Returns By Period
In the year-to-date period, TBX achieves a 6.87% return, which is significantly lower than ^GSPC's 25.15% return. Over the past 10 years, TBX has underperformed ^GSPC with an annualized return of 0.62%, while ^GSPC has yielded a comparatively higher 11.21% annualized return.
TBX
6.87%
1.60%
1.08%
3.37%
4.01%
0.62%
^GSPC
25.15%
2.97%
12.53%
31.00%
13.95%
11.21%
Key characteristics
| TBX | ^GSPC | |
|---|---|---|
| Sharpe Ratio | 0.46 | 2.53 |
| Sortino Ratio | 0.70 | 3.39 |
| Omega Ratio | 1.08 | 1.47 |
| Calmar Ratio | 0.13 | 3.65 |
| Martin Ratio | 1.12 | 16.21 |
| Ulcer Index | 3.02% | 1.91% |
| Daily Std Dev | 7.40% | 12.23% |
| Max Drawdown | -41.04% | -56.78% |
| Current Drawdown | -19.86% | -0.53% |
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Correlation
The correlation between TBX and ^GSPC is 0.21, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.
Risk-Adjusted Performance
TBX vs. ^GSPC - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares Short 7-10 Year Treasury (TBX) and S&P 500 (^GSPC). 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. ^GSPC - Drawdown Comparison
The maximum TBX drawdown since its inception was -41.04%, smaller than the maximum ^GSPC drawdown of -56.78%. Use the drawdown chart below to compare losses from any high point for TBX and ^GSPC. For additional features, visit the drawdowns tool.
Volatility
TBX vs. ^GSPC - Volatility Comparison
The current volatility for ProShares Short 7-10 Year Treasury (TBX) is 2.13%, while S&P 500 (^GSPC) has a volatility of 3.97%. This indicates that TBX experiences smaller price fluctuations and is considered to be less risky than ^GSPC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.