(TBF) ProShares Short 20+ Year - NYSE
ETF Category: Trading--Inverse Debt | Exchange: NYSE (USA) | Market Cap: 130m USD | Total Return: 1.7% in 12m
Avg Turnover: 4.33M
Warnings
No concerns identified
Tailwinds
No distinct edge detected
Seasonality
ProShares Short 20+ Year Treasury (TBF) is an exchange-traded fund that seeks to deliver daily returns inversely correlated with long-dated U.S. Treasuries. The fund uses a mix of financial instruments to track its Daily Target and references an index of U.S. Treasury securities with at least 20 years of remaining maturity and $300 million or more in outstanding face value, excluding Federal Reserve holdings. TBF is structured as a non-diversified fund, which allows it to concentrate exposure in fewer positions than a diversified fund would.
As an inverse debt ETF, TBF is designed to rise in value when long-term Treasury prices fall and yields rise, typically using derivatives such as futures, swaps, and forward contracts to achieve its short exposure. Because the fund resets its exposure on a daily basis, it is primarily intended for short-term trading rather than long-term buy-and-hold investing, and its performance over longer periods can diverge significantly from the inverse of its benchmark. ProShares is one of the largest issuers of leveraged and inverse ETFs in the U.S. market, and TBF falls within its specialty lineup of fixed-income trading products.
- Fed signals higher-for-longer rate stance lifts long yields
- Persistent core inflation pressures boost Treasury yield expectations
- Heavy long-duration Treasury issuance pushes 20-year yield higher
As of June 29, 2026, the stock is trading at USD 23.94 with a total of 98,920 shares traded. Over the past week, the price has changed by -0.62%, over one month by -2.63%, over three months by -1.31% and over the past year by +1.66%.
Current recommended Stop Loss: 23.60 (which is 1.4% or 1.7 ATR below the current price).
ProShares Short 20+ Year has no consensus analysts rating.