ProShares UltraPro Short 20+ 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.
$86.35−0.93 (−1.06%)
- 1.13%
- $27M
- +47.0%
- 7.19%
- 0M sh
- $87.59
- low $59.23high $92.85
The ETF.net TTT Grade
C
Score 46 out of 100
- 4 of 7
Score 46 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.C48 out of 100Rank 4 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.D36 out of 100Rank 7 of 7Tradability
How easy the fund is to trade: daily volume, and how far its price strays from net asset value.D38 out of 100Rank 5 of 7Holdings
How concentrated the fund is, and how complete and current its disclosed holdings are.B65 out of 100Rank 2 of 7Durability
Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.C52 out of 100Rank 4 of 7
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
- 2
- 100%
- Net Other Assets (Liabilities)
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.
TTT$14,703
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 | TTT |
|---|---|
| Year to date | +32.4% |
| 1 month | +10.5% |
| 3 months | +24.3% |
| 1 year | +47.0% |
| 3 years | +2.9% |
| 5 years | +27.7% |
| 10 years | +2.1% |
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 | +32.4% | |
| 2025 | −7.8% | |
| 2024 | +37.9% | |
| 2023 | −8.4% | |
| 2022 | +150.2% | |
| 2021 | +2.6% | |
| 2020 | −54.1% |
TTT in the news
TTT Dividends
- 7.19%
- $6.27
- $0.33 per share
- Quarterly
Distribution history
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.
- 40.1%
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.
- 0.23
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
1.13%
TTT1.13%
- The middle half of Inverse Treasury funds
- Median 1.13%
3 of the 7 Inverse Treasury funds charge 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%
- CTBXProShares - Short 7-10 Year TreasuryExpense ratio 1.46%1 year return +8.0%
- 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%