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Launched · SEC filings

ProShares Short 7-10 Year Treasury

TBXNYSE ArcaProSharesBThis 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.

$29.13−0.05 (−0.16%)

As of Nov 2, 2026, 3:59 PM ET

B63/ 100

Rank 2 of 7 in Inverse Treasury

B63/100Rank 2 of 7inInverse Treasury
Intraday session: down, 79 prints from 29.18 to 29.13. Range 29.07 to 29.17. Use the arrow keys to read each point.29.0829.1029.1610 AM12 PM2 PM4 PM
Expense ratio
0.95%*
Fund size
$21M
1Y total return
+7.3%
Yield · Last 12 months
2.59%
Holdings
2
Avg volume · 30D
23.7K sh
52W range
low $27.43high $30.34
Launched
Filings
SEC EDGAR

*After a fee waiver that ends Sep 30, 2027. Without it: 1.44%.

The ETF.net TBX Grade

Based on 5 of 6 pillars

B

Score 63 out of 100

Category
Inverse Treasury⁠
Rank
2 of 7
Six-pillar profile for TBX. Scores out of 100: Cost 56, Risk 75, Mission not scored, Tradability 63, Holdings 74, Durability 50. Strongest: Risk (75). Weakest: Durability (50). Based on 5 of 6 pillars.

Score 63 of 100 falls in the B 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.
    B56 out of 100
    Rank 2 of 7

  • Mission

    Whether the fund did what it promised, tested against its stated mandate.
    Not scored

  • Risk

    How the fund held up when markets fell: downside volatility, drawdowns and tail loss.
    A75 out of 100
    Rank 1 of 7

  • Tradability

    How easy the fund is to trade: daily volume, and how far its price strays from net asset value.
    B63 out of 100
    Rank 4 of 7

  • Holdings

    How concentrated the fund is, and how complete and current its disclosed holdings are.
    A74 out of 100
    Rank 1 of 7

  • Durability

    Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.
    C50 out of 100
    Rank 4 of 7

Our read on TBX

ETF.net Research

In short

BMost inverse Treasury funds swing at the 20-year-plus long end, often with 2x or 3x. TBX takes the quieter route: a single inverse (-1x) target on the daily move of the 7-10 year part of the curve, at 0.95% net of a waiver through September 30, 2027.

Stated mandate

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

  • Skips leverage: the stated target is -1x the daily move of the ICE U.S. Treasury 7-10 Year Bond Index, not 2x or 3x of it.
  • Points at the belly of the curve, 7-10 year notes, while much of the short-Treasury shelf (TBT, TBF, TTT) aims at 20+ year bonds.
  • Fee is 0.95% net of a waiver through September 30, 2027, near the category median and level with PST (0.95% net of a waiver through the same date), the 2x take on the same index.
  • Trading since 2011, and built as a 1940 Act registered fund rather than a commodity partnership.

Worth knowing

  • The -1x target resets every day. Over longer holds, compounding can push results away from -1x the index for that stretch, especially through choppy rate moves.
  • A small fund that trades lightly next to the long-end inverse names, so spreads and order type carry more weight when getting in or out.
  • The stated gross fee is 1.44%, so the cost picture hinges on whether ProShares extends the waiver past September 30, 2027.

TBX Performance

Launched Apr 4, 2011

Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.

TBX$10,730
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$11,199
Oct 31, 2025 to Oct 30, 2026. TBX $10,730. SPY $11,199. Use the arrow keys to read each point.$10,000$11,000Oct 2025Apr 2026Oct 2026

Oct 31, 2025 – Oct 30, 2026

Returns run to the Oct 30, 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.

Trailing total return for TBX. Periods over one year show the average yearly return.
PeriodTBX
Year to date+6.5%
1 month−2.6%
3 months+1.7%
1 year+7.3%
3 yearsper year+2.3%
5 yearsper year+6.8%
10 yearsper year+2.3%

With distributions reinvested.

Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.

Annual total returns for TBX
YearReturn barTBX
2026 YTD+6.5%
2025−1.2%
2024+8.5%
2023+4.0%
2022+18.3%

TBX in the news

TBX Dividends

Adds up every distribution paid per share over the last 12 months, divided by the last completed close. Distributions are counted by ex-date. Data through Oct 30, 2026.
2.59%Last 12 months
Payout per share
$0.76Last 12 months
Last payment
$0.18 per share
Paid on
Shares bought on or after this date do not qualify for this distribution.
Frequency
Quarterly

Distribution history

2018–2026

One bar per payment. 24 payments from 2018 to 2026 YTD. Jun 20, 2018 $0.01; Sep 26, 2018 $0.11; Dec 26, 2018 $0.08; Mar 20, 2019 $0.09; Jun 25, 2019 $0.14; Sep 25, 2019 $0.11; Dec 24, 2019 $0.07; Mar 25, 2020 $0.02; Dec 22, 2022 $0.12; Mar 22, 2023 $0.10; Jun 21, 2023 $0.22; Sep 20, 2023 $0.12; Dec 20, 2023 $0.73; Mar 20, 2024 $0.21; Jun 26, 2024 $0.36; Sep 25, 2024 $0.32; Dec 23, 2024 $1.02; Mar 26, 2025 $0.22; Jun 25, 2025 $0.19; Sep 24, 2025 $0.24; Dec 24, 2025 $0.30; Mar 25, 2026 $0.13; Jun 24, 2026 $0.14; Sep 23, 2026 $0.18. Use the arrow keys to read each point.201820192020202120222023202420252026YTD
Ex-datePay dateAmount per share
Sep 23, 2026Sep 29, 2026$0.18
Jun 24, 2026Jun 30, 2026$0.14
Mar 25, 2026Mar 31, 2026$0.13
Dec 24, 2025Dec 31, 2025$0.30
Sep 24, 2025Sep 30, 2025$0.24
Jun 25, 2025Jul 1, 2025$0.19
Mar 26, 2025Apr 1, 2025$0.22
Dec 23, 2024Dec 31, 2024$1.02
Sep 25, 2024Oct 2, 2024$0.32
Jun 26, 2024Jul 3, 2024$0.36
Mar 20, 2024Mar 27, 2024$0.21
Dec 20, 2023Dec 28, 2023$0.73

See all 24 payments⁠

$10,000 in TBX 10 years ago paid $1,902 in dividends.⁠

TBX Risk

Risk pillarA75 out of 100Rank 1 of 7 in Inverse Treasury

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.

How much the fund’s monthly returns vary, scaled to a year.
6.6%
Annualised · 36 months to Oct 2026
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.

Return above 3-month US Treasury bills per unit of volatility.
−0.30
vs 3-month T-bills · to Oct 2026
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.

The largest fall from a peak to the low that followed.
−7.7%
Trough Dec 2023
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.

How strongly the fund’s returns move with its asset-class index.
−1.17
vs its asset-class index
How it’s calculated: beta

The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.

FMP measures it over up to five years of monthly returns.

TBX Cost

Compare TBX and TBT

Overpaying vs TBT, cheapest in Inverse Treasury

$330

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

  • TBX 0.95%

    $17,869

  • TBT 0.93% Cheapest

    $17,539

$10,000
30 years

Cost over time

  • TBX 0.95%
  • TBT 0.93%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$5K$10K$15K$20K051015202530TBX $17,869TBT $17,539

Year by year

YearTBXTBTOverpaying
10$1,678$1,644$34
20$6,322$6,199$123
30$17,869$17,539$330
How the 0.95% is worked out

Full fee 1.44%− waiver 0.49%= you pay 0.95%

The waiver ends Sep 30, 2027. After that the fee is 1.44% unless ProShares renews it. Source: prospectus, Sep 2026.

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