Skip to content
etf.net

UST

GradeCNew York Stock Exchange Arca

ProShares - Ultra 7-10 Year Treasury

Leveraged · Leveraged & Inverse · ProShares · Inception 2010-01-19 · SEC filings

This 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.

$38.53−1.17 (−2.95%)

As of Sep 23, 2026, 2:20 PM EDT

Intraday session: down, 49 prints from 39.70 to 38.53. Range 38.47 to 39.39. Use the arrow keys to read each point.$38.40$38.80$39.2010 AM12 PM2 PM4 PM
Expense ratio
1.18%
Fund size
$14M
1Y return
−7.5%
Yield · Last 12 months
3.75%
Holdings
6
Volume · 30D
0M sh
NAV per share
$39.43
52W range
low $39.41high $45.43

The ETF.net UST Grade

C

48/ 100

Rank 27 of 99 in Leveraged Long (2x & Other)⁠

Confidence Medium

Six-pillar profile for UST. Scores out of 100: Cost 32, Risk 64, Mission not scored, Tradability 62, Holdings 38, Durability 65. Strongest: Durability (65). Weakest: Cost (32). Based on 5 of 6 pillars.
F< 25
D≥ 25
C≥ 40
B≥ 55
A≥ 70

Score 48 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.
    DScore 32
    Category rank69/99 · mid-pack

  • Mission

    How faithfully it does the job it claims — tracking its mandate or index with minimal slippage.
    Not scored
    —

  • Risk

    How violently it can move — volatility, drawdown depth, and downside capture versus its category.
    BScore 64
    Category rank25/94 · top 27%

  • Tradability

    How cheaply and easily you can get in and out — liquidity, spread, and premium/discount stability.
    BScore 62
    Category rank29/99 · top 29%

  • Holdings

    What it actually owns — the quality, breadth, and concentration of the underlying portfolio.
    DScore 38
    Category rank17/23 · mid-pack

  • Durability

    Whether it will still be here — the fund’s assets, age, flows, and issuer staying power.
    BScore 65
    Category rank26/99 · top 26%

Graded as of Sep 22, 2026 · Based on 5 of 6 pillars

Our read on UST

ETF.net Research

CMost leveraged ETFs bet on stocks. UST bets on duration: twice the daily move of a 7-10 year Treasury index, in a plain brokerage-account wrapper. It has been running since 2010.

Stated mandate

UST seeks daily investment results before fees and expenses that correspond to twice the daily performance of the ICE U.S. Treasury 7-10 Year Bond Index.

Why people hold it

  1. 01Rare pure rate exposure on the leveraged shelf, which is dominated by stock-index products: 2x the daily move of the ICE U.S. Treasury 7-10 Year Bond Index.proshares.com
  2. 02The leverage lives inside the fund, so a duration view needs no margin account and no futures paperwork, just one ticker.proshares.com
  3. 03Launched January 2010, so it has traded through a full sweep of rate regimes, from near-zero yields to a hiking cycle.
  4. 04Run by ProShares, one of the largest sponsors of leveraged and inverse ETFs, with a deep bench of daily-reset funds.

Worth knowing

  1. 01Leverage resets daily. Hold it for weeks and compounding takes over; results can differ a lot from 2x the index move over that stretch.
  2. 02At 1.18% a year it costs more than the typical leveraged fund, and it is a small, lightly traded product, so spreads and limit orders matter.
  3. 03Direxion's TYD targets the same index at 3x daily. UST is the milder dose, which also means less movement per dollar committed.

UST Holdings

As of Sep 20, 2026, 6:50 AM
Asset class
Bonds
Holdings
6
Top-10 weight
100%
Largest holding
IQMM96.9%

Sectors

  • Financials100.0%

Geography

  • United States100.00%
The fund’s holdings, weight-ordered — page 1 of 1.
#TickerCompanyWeight %SharesMarket valueIn ETFs
001IQMMPROSHARES GENIUS MNY MKT ETF96.89%135,500$14M61
002—Net Other Assets (Liabilities)3.11%434,847$435K162

Showing 1–2 of 2 holdings

UST Performance

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

UST$9,250
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$11,723
Sep 22, 2025 to Sep 22, 2026. UST $9,250. SPY $11,723. Use the arrow keys to read each point.$8,981$10,474$11,968Sep 2025Mar 2026Sep 2026

Sep 22, 2025 – Sep 22, 2026

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.

Trailing total return for UST. Periods over one year show the average yearly return.
PeriodUST
Year to date−8.0%
1 month−3.4%
3 months−5.1%
1 year−7.5%
3 years+1.3%per year
5 years−8.5%per year
10 years−2.8%per year

As of the close, 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 UST
YearReturn barUST
2026 YTD−8.0%
2025+10.3%
2024−6.2%
2023+0.1%
2022−30.2%
2021−7.8%
2020+18.8%

UST in the news

ETF.net Research hasn’t filed on UST yet — coverage lands here as it’s written.

UST 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 Sep 22, 2026.
3.75%Last 12 months
Payout per share
$1.49Last 12 months
Last payment
$0.32 per share
Paid on
Shares bought on or after this date do not qualify for this distribution.
Frequency
Quarterly

Distribution history

2017–2026

One bar per payment. 35 payments from 2017 to 2026 YTD. Mar 22, 2017 $0.06; Jun 21, 2017 $0.13; Sep 27, 2017 $0.13; Dec 26, 2017 $0.17; Mar 21, 2018 $0.16; Jun 20, 2018 $0.19; Sep 26, 2018 $0.26; Dec 26, 2018 $0.35; Mar 20, 2019 $0.29; Jun 25, 2019 $0.17; Sep 25, 2019 $0.15; Dec 24, 2019 $0.28; Mar 25, 2020 $0.11; Jun 24, 2020 $0.11; Sep 23, 2020 $0.09; Dec 23, 2020 $0.08; Mar 23, 2021 $0.05; Jun 22, 2021 $0.07; Sep 22, 2021 $0.02; Dec 23, 2021 $0.04; Dec 22, 2022 $0.22; Mar 22, 2023 $0.20; Jun 21, 2023 $0.60; Sep 20, 2023 $0.39; Dec 20, 2023 $0.40; Mar 20, 2024 $0.43; Jun 26, 2024 $0.38; Sep 25, 2024 $0.29; Dec 23, 2024 $0.59; Mar 26, 2025 $0.31; Jun 25, 2025 $0.30; Sep 24, 2025 $0.40; Dec 24, 2025 $0.57; Mar 25, 2026 $0.19; Jun 24, 2026 $0.32. Use the arrow keys to read each point.2017201820192020202120222023202420252026YTD
Ex-datePay dateAmount per share
Jun 24, 2026Jun 30, 2026$0.32
Mar 25, 2026Mar 31, 2026$0.19
Dec 24, 2025Dec 31, 2025$0.57
Sep 24, 2025Sep 30, 2025$0.40
Jun 25, 2025Jul 1, 2025$0.30
Mar 26, 2025Apr 1, 2025$0.31
Dec 23, 2024Dec 31, 2024$0.59
Sep 25, 2024Oct 2, 2024$0.29
Jun 26, 2024Jul 3, 2024$0.38
Mar 20, 2024Mar 27, 2024$0.43
Dec 20, 2023Dec 28, 2023$0.40
Sep 20, 2023Sep 27, 2023$0.39

UST 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.

How much the fund’s monthly returns vary, scaled to a year.
13.2%
Annualised · 36 months to Aug 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.
−0.23
vs 3-month T-bills · to Aug 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.
−42.9%
Trough Oct 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.
2.32
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.

UST Cost

Expense ratio1.18%
  • The middle half of Leveraged Long (2x & Other) funds
  • Median 0.99%

64 of the 93 Leveraged Long (2x & Other) funds charge less.

UST costs $118.00 a year on $10,000. The median Leveraged Long (2x & Other) fund costs $99.00.