ProShares - Short 7-10 Year Treasury
CThis fund multiplies its index's move each day and resets that multiple daily. Because daily returns compound, its long-run return can differ from the headline multiple.
$29.78+0.59 (+2.02%)
- 1.46%
- $19M
- +8.0%
- 2.59%
- 0M sh
- $29.82
- low $27.43high $30.34
The ETF.net TBX Grade
C
Score 44 out of 100
- 5 of 7
Score 44 of 100 falls in the C band. A is 70 or higher, B 55 to under 70, C 40 to under 55, D 25 to under 40, F under 25.
Cost
The fund’s net expense ratio, ranked against its category.F12 out of 100Rank 7 of 7Mission
Whether the fund did what it promised, tested against its stated mandate.Risk
How the fund held up when markets fell: downside volatility, drawdowns and tail loss.A74 out of 100Rank 1 of 7Tradability
How easy the fund is to trade: daily volume, and how far its price strays from net asset value.B62 out of 100Rank 3 of 7Holdings
How concentrated the fund is, and how complete and current its disclosed holdings are.A71 out of 100Rank 1 of 7Durability
Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.C48 out of 100Rank 5 of 7
Our read on TBX
CMost bear Treasury ETFs swing at the 20+ year long end. TBX aims at the 7-10 year belly instead, at a straight -1x daily, with no leverage multiplier stacked on top.
TBX seeks daily pre-fee, pre-expense returns equal to the inverse (-1x) of the daily performance of the ICE U.S. Treasury 7-10 Year Bond Index. It uses financial instruments to pursue that daily target.
Why people hold it
- Single-dose short: it targets the inverse of the ICE U.S. Treasury 7-10 Year Bond Index for a single day, without amplifying the move.proshares.com
- Aimed at the belly of the curve. The better-known bear Treasury funds (TBT, TBF, TMV, TTT) all sit on 20+ year bonds, a very different rate sensitivity.
- The unleveraged way to short that index: PST and TYO run off the same 7-10 Year benchmark, TBX is the -1x version.
- Open since 2011 as a registered 1940 Act fund, so holders get a 1099 rather than a partnership K-1.proshares.com
Worth knowing
- The target resets daily. Held through a choppy stretch, the result can drift from -1x the index's move over that full period.
- At 1.46% a year, it costs more than the typical daily-inverse Treasury fund, including long-end siblings TBT and TBF.
- One of the smaller and thinner-trading names in the bear Treasury group, which can show up as wider spreads getting in and out.
TBX Holdings
- Bonds
- 2
- 100%
- Net Other Assets (Liabilities)
Sectors
- Financials100.0%
Geography
- United States100.00%
TBX Performance
Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.
TBX$10,799
Returns run to the Oct 12, 2026 close, with cash distributions reinvested. Each period starts on the same date that many months or years earlier. Periods over one year show the average yearly return.
| Period | TBX |
|---|---|
| Year to date | +6.7% |
| 1 month | −0.2% |
| 3 months | +3.0% |
| 1 year | +8.0% |
| 3 years | +2.9% |
| 5 years | +6.9% |
| 10 years | +2.4% |
Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.
| Year | Return bar | TBX |
|---|---|---|
| 2026 YTD | +6.7% | |
| 2025 | −1.2% | |
| 2024 | +8.5% | |
| 2023 | +4.0% | |
| 2022 | +18.3% | |
| 2021 | +1.7% | |
| 2020 | −10.0% |
TBX in the news
TBX Dividends
- 2.59%
- $0.76
- $0.18 per share
- Quarterly
Distribution history
TBX Risk
This fund targets a multiple of the daily move of its index and resets daily. Hold it longer than one reset and compounding makes the return diverge from that target. In choppy markets it can lose value even when the index ends flat.
- 6.5%
How it’s calculated: standard deviation
The sample standard deviation of monthly total returns, multiplied by the square root of 12.
Uses up to 36 complete months, with at least 12 required. Total returns include reinvested distributions.
- −0.04
How it’s calculated: Sharpe ratio
Subtract each month’s Treasury-bill return from the fund’s monthly total return.
Divide the average of those excess returns by their sample standard deviation, then multiply by the square root of 12.
Uses up to 36 complete months, with at least 12 required. Each month uses the Treasury yield quoted at the end of the previous month.
- −7.7%
How it’s calculated: maximum drawdown
The largest percentage decline from an earlier peak, using total returns with reinvested distributions.
Uses up to five years through the last close, with at least 12 months required.
- −1.17
How it’s calculated: beta
The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.
TBX Cost
1.46%
TBX1.46%
- The middle half of Inverse Treasury funds
- Median 1.13%
Every other Inverse Treasury fund charges less.
Other funds in Inverse Treasury
- BTBFProShares - Short 20+ Year TreasuryExpense ratio 1.00%1 year return +16.6%
- BTMVDirexion Daily 20+ Year Treasury Bear 3X ETFExpense ratio 0.97%1 year return +50.8%
- CTTTProShares UltraPro Short 20+ Year TreasuryExpense ratio 1.13%1 year return +47.0%
- DPSTProShares UltraShort 7-10 Year TreasuryExpense ratio 1.40%1 year return +18.3%
- DTYODirexion Daily 7-10 Year Treasury Bear 3X ETFExpense ratio 1.15%1 year return +30.2%