ProShares UltraPro Short 20+ Year Treasury
$80.62+3.77 (+4.91%)
- Expense ratio
- 1.13%
- Fund size
- $20M
- 1Y return
- +20.3%
- Yield · Last 12 months
- 8.37%
- Holdings
- 10
- Volume · 30D
- 0M sh
- NAV per share
- $78.48
- 52W range
The ETF.net TTT Grade
Score 44 of 100 sits in the C band. Bands: A ≥ 70, B ≥ 55, C ≥ 40, D ≥ 25, F < 25; the scale skips E.
Cost
What you pay to own it — the expense ratio plus trading frictions, ranked within its category.CScore 48Category rankMission
How faithfully it does the job it claims — tracking its mandate or index with minimal slippage.Not scoredRisk
How violently it can move — volatility, drawdown depth, and downside capture versus its category.DScore 31Category rankTradability
How cheaply and easily you can get in and out — liquidity, spread, and premium/discount stability.DScore 33Category rankHoldings
What it actually owns — the quality, breadth, and concentration of the underlying portfolio.BScore 68Category rankDurability
Whether it will still be here — the fund’s assets, age, flows, and issuer staying power.CScore 50Category rank
Our read on TTT
CThe top rung of ProShares' short-Treasury ladder. TTT aims for three times the inverse of the long bond's daily move: a one-day tool for a view on rates, not a position you set and forget.
TTT targets daily results, before fees and expenses, equal to three times the inverse of the daily performance of the ICE U.S. Treasury 20+ Year Bond Index.
Why people hold it
- Targets three times the inverse of the daily move in the ICE U.S. Treasury 20+ Year Bond Index, before fees. A clean, mechanical way to express a view on long-bond prices.proshares.com
- Part of a full ProShares ladder on the same long-Treasury exposure: TBF at -1x, TBT at -2x, TTT at -3x. You pick the gear rather than settling for the only one on offer.
- Trading since 2012, giving it a long track record as a triple-inverse Treasury vehicle, and it pays out on a quarterly schedule.
Worth knowing
- The leverage resets every day. Hold longer and results can diverge sharply from 3x the index's move over that stretch, especially through choppy rate swings.
- At 1.13%, it charges more than TMV (0.97%), which targets the same -3x daily exposure to the same corner of the Treasury curve.
- A small fund that trades thinly next to its siblings, so spreads can widen. Limit orders do real work here.
TTT Holdings
- Bonds
- 10
- 100%
- IQMM
Sectors
- Financials100.0%
Geography
- United States100.00%
TTT Performance
Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.
Returns run to the Sep 22, 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 | TTT |
|---|---|
| Year to date | +16.0% |
| 1 month | +0.4% |
| 3 months | +14.9% |
| 1 year | +20.3% |
| 3 years | +3.9% |
| 5 years | +28.0% |
| 10 years | +1.7% |
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 | TTT |
|---|---|---|
| 2026 YTD | +16.0% | |
| 2025 | −7.8% | |
| 2024 | +37.9% | |
| 2023 | −8.4% | |
| 2022 | +150.2% | |
| 2021 | +2.6% | |
| 2020 | −54.1% |
TTT in the news
ETF.net Research hasn’t filed on TTT yet — coverage lands here as it’s written.
TTT Dividends
- 8.37%
- $6.42
- $0.40 per share
- Quarterly
Distribution history
| Ex-date | Pay date | Amount per share |
|---|---|---|
| Jun 24, 2026 | Jun 30, 2026 | $0.40 |
| Mar 25, 2026 | Mar 31, 2026 | $0.33 |
| Dec 24, 2025 | Dec 31, 2025 | $5.21 |
| Sep 24, 2025 | Sep 30, 2025 | $0.48 |
| Jun 25, 2025 | Jul 1, 2025 | $0.42 |
| Mar 26, 2025 | Apr 1, 2025 | $0.49 |
| Dec 23, 2024 | Dec 31, 2024 | $3.48 |
| Sep 25, 2024 | Oct 2, 2024 | $0.22 |
| Jun 26, 2024 | Jul 3, 2024 | $0.18 |
| Dec 20, 2023 | Dec 28, 2023 | $8.67 |
| Sep 20, 2023 | Sep 27, 2023 | $0.14 |
| Jun 21, 2023 | Jun 28, 2023 | $0.34 |
TTT 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.
- 42.0%
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.
- 0.30
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.
- −48.1%
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.
- −7.18
How it’s calculated: beta
The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.
TTT Cost
- The middle half of Inverse Treasury funds
- Median 1.13%
3 of the 7 Inverse Treasury funds charge less.