(TBT) ProShares UltraShort 20+ - NYSE
ETF Category: Trading--Inverse Debt | Exchange: NYSE (USA) | Market Cap: 329m USD | Total Return: -0.6% in 12m
Avg Turnover: 15.7M
Warnings
No concerns identified
Tailwinds
No distinct edge detected
Seasonality
TBT is a non-diversified ETF that seeks to deliver daily returns inversely aligned with long-dated U.S. Treasury securities. Rather than holding the underlying bonds directly, it invests in a combination of financial instruments that ProShare Advisors believes will produce returns consistent with the funds stated Daily Target.
The underlying index is composed of publicly-issued U.S. Treasuries with a remaining maturity of twenty years or more and at least $300 million of outstanding face value, excluding amounts held by the Federal Reserve. Because it targets the longest end of the Treasury yield curve, the funds exposure is concentrated in the segment most sensitive to changes in interest rates.
As an inverse debt product, TBT typically gains short or leveraged-short exposure through derivatives such as futures and swap agreements rather than short-selling physical bonds, a structure that introduces daily-reset compounding effects for investors holding the fund beyond a single session. The ETF launched on April 29, 2008, and carries a small-cap market capitalization of roughly $329 million.
- Federal Reserve signals higher for longer rate stance
- Long-term Treasury yields climb on sticky inflation data
- US Treasury supply expansion pressures long-end yields higher
As of June 29, 2026, the stock is trading at USD 34.15 with a total of 195,591 shares traded. Over the past week, the price has changed by -1.30%, over one month by -5.22%, over three months by -3.19% and over the past year by -0.57%.
Current recommended Stop Loss: 33.40 (which is 2.2% or 1.3 ATR below the current price).
ProShares UltraShort 20+ has no consensus analysts rating.