ProShares UltraShort 20+ Year Treasury (TBT)

NYSEARCA: TBT · Real-Time Price · USD
34.60
-1.03 (-2.89%)
Sep 5, 2025, 3:14 PM - Market open
-2.89%
Assets$308.74M
Expense Ratio0.91%
PE Ration/a
Shares Out8.62M
Dividend (ttm)$1.40
Dividend Yield4.04%
Ex-Dividend DateJun 25, 2025
Payout FrequencyQuarterly
Payout Ration/a
Volume895,436
Open34.79
Previous Close35.63
Day's Range34.51 - 34.86
52-Week Low28.00
52-Week High39.70
Beta-1.02
Holdings10
Inception DateMay 1, 2008

About TBT

Fund Home Page

The ProShares UltraShort 20+ Year Treasury (TBT) is an exchange-traded fund that is based on the US Treasury 20+ Year index. The fund provides 2x inverse exposure, reset daily, to a market-value-weighted index that tracks the performance of US Treasury securities with remaining maturities greater than 20 years. TBT was launched on May 1, 2008 and is issued by ProShares.

Asset Class Fixed Income
Category Trading--Inverse Debt
Region North America
Stock Exchange NYSEARCA
Ticker Symbol TBT
ETF Provider ProShares
Index Tracked US Treasury 20+ Year Index

Dividends

Ex-DividendAmountPay Date
Jun 25, 2025$0.28032Jul 1, 2025
Mar 26, 2025$0.2549Apr 1, 2025
Dec 23, 2024$0.44449Dec 31, 2024
Sep 25, 2024$0.41784Oct 2, 2024
Jun 26, 2024$0.47549Jul 3, 2024
Mar 20, 2024$0.36064Mar 27, 2024
Full Dividend History

Performance

TBT had a total return of 22.63% in the past year, including dividends. Since the fund's inception, the average annual return has been -10.42%.

News

TBT: Trading The Long Side Of Yield Curve

TBT offers -2x daily inverse exposure to long-term Treasuries, ideal for tactical bets on rising yields in the 20–30-year segment. Current macro signals—steep 10-20-30 curve, high NSS asymptote, and a...

17 days ago - Seeking Alpha

TBT Provides -2x Leveraged Exposure To The 20-Year Treasury

TBT offers -2x daily performance of 20+ Year Treasury Bonds, but is highly risky and unsuitable for long-term holding due to value decay. Leveraged inverse ETFs like TBT can experience significant com...

18 days ago - Seeking Alpha

This legendary investor has been shorting Treasury bonds. Here's how to bet with him — without going broke.

Stanley Druckenmiller's bet against America's debt is no ordinary trade.

Other symbols: BILSHYTBFTMVVGSH
7 weeks ago - Market Watch

TBT For A Bond Market 'Crack'

The U.S. 30-year Treasury bond market remains in a bearish trend, with critical support at the October 2023 low and risks of a further breakdown. Jamie Dimon and bond market vigilantes warn of a poten...

3 months ago - Seeking Alpha

My Favorite Strategy To Trade Long-Term Treasury Bonds

The strategy uses signals to go long and short on bonds via TMF and TBT. By comparing the 30-day performance of SPY and DJP, the strategy determines positions in TBT or TMF based on inflation and asse...

Other symbols: TMF
6 months ago - Seeking Alpha

TBT: Inverse Bond Exposure Is The Key Hedge To My Trump Portfolio

Inverse bond exposure is attractive short to medium term due to inflationary pressures from Trump's economic policies, despite my generally bullish stance on equities. December inflation data shows a ...

7 months ago - Seeking Alpha

TBT: A Bet Against Long Duration Rates

The ProShares UltraShort 20+ Year Treasury ETF offers leveraged inverse exposure to long-term U.S. Treasury bonds, aiming for -2x daily performance of the ICE U.S. Treasury 20+ Year Bond Index. The TB...

10 months ago - Seeking Alpha

TBT: The Rate Cut May Not Lead To A Bond Market Rally

The Fed's shift to a more accommodative monetary policy may not guarantee a bond market rally due to high U.S. debt and declining foreign demand. The U.S. dollar's faltering reserve currency status an...

1 year ago - Seeking Alpha

Rates Spark: ECB Presser Bear-Flattened The Curve

The ECB cut rates by 25bp as widely anticipated, but a slightly hawkish tilt bear flattened the EUR curve, which in our view remains priced aggressively. In the US, as the markets head towards the Fed...

1 year ago - Seeking Alpha

Global Economic Outlook: How We Got Here; Where Are We Going?

Panel discussion with Seeking Alpha's Steven Cress, KPMG U.S.'s Kenneth Kim; Invesco's Kristina Hooper; and Principal Asset Management CEO, Kamal Bhatia. Fed moves and how central banks have dominated...

Other symbols: ACWIDIAIEFQQQSPYTLT
1 year ago - Seeking Alpha

Should We Trust Economic Data? With Danielle DiMartino Booth

Danielle DiMartino Booth discusses why Jay Powell wants to keep rates high. Should we trust CPI and other economic data coming out?

Other symbols: IEFTLTUTWO
1 year ago - Seeking Alpha

Estimating The Impact Of Lower Rates On Bond Fund Dividends

It generally takes a few years for changes in Federal Reserve rates to fully impact bond fund dividends. Bond funds are still benefitting from prior rate hikes. Perhaps by enough to cancel out any fut...

1 year ago - Seeking Alpha

Prepare For The Worst In Bonds With TBT

2024 is expected to be a good year for bonds, but there are potential risks that could lead to a dip in bond prices. Global conflicts and US fiscal policy are identified as potential triggers for a bo...

1 year ago - Seeking Alpha

2024: The Year Of Living Dangerously

2024: The Year Of Living Dangerously

Other symbols: DIAIEFQQQSPYTBILTLT
1 year ago - Seeking Alpha

Credit Event: Phase 2 - Michael Gayed

The market may have peaked in July due to the lagged effects of the fastest rate hike cycle in history. A credit event is likely to occur, starting with treasuries and then moving to corporate credit,...

Other symbols: DIAHYGIWMJNKLQDQQQRORO
1 year ago - Seeking Alpha

CPI Disappointment, Cooling Economy, Recession Ahead? With Mott Capital

Michael Kramer is disappointed by the recent CPI report, suggesting that the economy is cooling and expectations for earnings growth are too high. He believes that the market may anticipate rate cuts,...

Other symbols: DIAIEFQQQSPYTLTXLY
1 year ago - Seeking Alpha

TBT: This Hedge Still Looks Right

TBT remains a Buy as the bond market shows downward momentum, and there are likely more advances in store for TBT price and volume. The effects of the global pandemic regime have produced a strong Fed...

2 years ago - Seeking Alpha

TBT: No Compelling Evidence Of A Bond Bottom, Reiterate Buy

The Treasury term premium is back above zero, indicating that investors are demanding higher yields for long-dated Treasuries. The ProShares UltraShort 20+ Year Treasury ETF is recommended for short-t...

2 years ago - Seeking Alpha

Fed Walking Primrose Path And Cataclysmic Scenarios With David Trainer

The current market is driven by liquidity and how much the Federal Reserve or the treasury are pumping into the economy, according to David Trainer. Trainer believes there needs to be a reckoning due ...

Other symbols: CSCOIEFINTCTLT
2 years ago - Seeking Alpha

Falling Inflation, Dollar Dominance And PBOC Moves With Marc Chandler

Marc Chandler and James Foord discuss international markets, economies and currencies. Has the Fed conquered inflation?

Other symbols: EUOFXAFXBFXCFXEFXYIEF
2 years ago - Seeking Alpha

Treasury ETFs: You've Got Nowhere Else To Go Now

Financial systems are shaking all around the world. I expect the processes to accelerate in the second half of this year due to liquidity withdrawals and a greater sense of pressure from high rates in...

Other symbols: TLT
2 years ago - Seeking Alpha

TBT: Take Profits If You Haven't Already

The Federal Reserve's dovish stance and economic indicators suggest that unemployment is rising close to where it should be and inflation is falling. TBT, a high duration ETF sensitive to market inter...

2 years ago - Seeking Alpha

Inflation Blues And Bond Moves: Riding The Treasury Wave With TBT

Treasury bonds have faced underperformance due to unexpected inflation levels, but recent trends indicate a decrease in inflation. The combination of slowing inflation and economic growth is positive ...

2 years ago - Seeking Alpha

TBT: Inverse Bond Fund Can Work In 2023 Wearing Multiple Hats

TBT is an inverse ETF that appreciates when long-dated Treasury bonds sell off and rates move higher. The fund was a big winner in 2022 amid the bond market volatility which is a theme that remains in...

2 years ago - Seeking Alpha

TBT: Watching One Key Technical Level On TLT For Clues

The Treasury market has been bearish lately after strong jobs data. I like to refer to price action on TLT to determine where the leveraged-short TBT ETF will go.

2 years ago - Seeking Alpha