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ProShares UltraShort 20+ Year Treasury (TBT)

Leveraged ETF · ProShares · NYSE ARCA · 12 holdings
$38.24 ▼ -1.58 (3.97%)
At close · USD · Volume 658,100
Returns and riskCostIncomeDividend historyHoldingsQuestions
52-week range
$31.71 – $43.77
Day's range
$38.10 – $39.17
1-year total return
+23.4%
Inverse or short fund (-2x, by its name). The stated multiple applies to one day. It resets daily, so returns over longer periods can differ a lot from the multiple, and the figures below describe the past only.

TBT price chart

Daily, split-corrected, distributions markedEnd-of-day prices

TBT fund facts

FundProShares UltraShort 20+ Year Treasury
TickerTBT · NYSE ARCA
Issuer (by our rules)ProShares
Category (by our rules)Leveraged
Expense ratioNot in our sources
Holdings12
Net assets (fund, SEC)$333M
Yield (last 12 months)2.40%
DistributionsQuarterly
52-week range$31.71 – $43.77
Average volume (3 months)338,381
First price in our data1 May 2008
Issuer and category are assigned by StocksXray rules from the fund name. Expense ratio and net assets come from SEC filings; where a fund does not file them (for example grantor trusts) the field stays empty.

Returns and risk

1 month
−0.4%
3 months
+3.0%
6 months
+10.9%
Year to date
+11.3%
1 year
+23.4%
3 years a year
−0.8%
5 years a year
+19.6%
10 years a year
+3.3%
Volatility (1 year)
19.7%
Largest drop, last year
−11.0%
Largest drop in our data
−95.0%
Total return includes distributions, from end-of-day prices adjusted for splits and distributions, to 22 Oct 2026. Periods of 3 years and longer are annualised and shown only when the fund's history is long enough. Volatility is the standard deviation of daily returns over the last year, annualised. Past performance does not guarantee future results.

Cost: expense ratio

We could not match an expense ratio for TBT in the SEC prospectus data we read. Funds structured as trusts or notes, and very new funds, are often missing. We show nothing rather than a guess; the issuer's fact sheet has the figure.

Income: distributions

Paid, last 12 months
0.92 USD
Yield on today's price
2.40%
Frequency
Quarterly
Latest ex-date
23 Sep 2026
Full TBT dividend history →
Cash paid per current share (restated for share splits), before tax, from EODHD.

TBT top holdings

#HoldingWeight
1 ProShares GENIUS Money Market ETF 72.17%
2 Repurchase Agreement 8.87%
3 Repurchase Agreement 5.58%
4 Repurchase Agreement 4.19%
5 Repurchase Agreement 3.07%
6 N/A 0.80%
7 N/A 0.62%
8 N/A 0.50%
9 N/A 0.39%
10 N/A 0.31%
The top 10 make up 96.5% of the fund, out of 12 holdings.
Positions as of 31 May 2026, from the fund's Form N-PORT filed with the SEC. Public N-PORT holdings are quarter-end positions published about 60 days later, so they can be months old and the fund may have changed since.

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TBT: frequently asked questions

What is TBT?

TBT is the ProShares UltraShort 20+ Year Treasury ETF, issued by ProShares, listed on NYSE ARCA. By our rules it is classed as "Leveraged". Its latest SEC filing lists 12 holdings.

Does TBT pay dividends?

Yes. TBT paid 0.92 per share over the last 12 months, quarterly, a trailing yield of 2.40% on today's price. The latest ex-dividend date was 23 Sep 2026.

What does TBT hold?

The largest holdings in the latest SEC filing are ProShares GENIUS Money Market ETF (72.2%), Repurchase Agreement (8.9%), Repurchase Agreement (5.6%). The top 10 together make up 96.5% of the fund.

How has TBT performed?

Total return including distributions to 22 Oct 2026: 1 year +23.4%, 3 years −0.8% a year, 5 years +19.6% a year. Past performance does not guarantee future results.

Is TBT leveraged?

By its name TBT aims for -2x the daily return of its target. The multiple resets every day, so returns over weeks or months can differ a lot from the stated multiple, and losses can compound. Funds like this are designed for short holding periods.

Where the numbers come from

Prices and distributions end-of-day data from EODHD; returns are our own calculations from it.
Expense ratio and holdings SEC filings (prospectus risk/return data and Form N-PORT).
Category, issuer and leverage assigned by StocksXray rules from the fund name.
X-Ray look-through our scores applied to the SEC holdings.
Read the methodology →

StocksXray is for education only and is not financial advice or a recommendation to buy or sell anything. Past performance does not guarantee future results; funds can lose value.