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TBX vs TTT

ProShares Short 7-10 Year Treasury

TBXBNYSE Arca

ProShares UltraPro Short 20+ Year Treasury

TTTCNYSE Arca

Overlap

No data

Expense ratio

Same figure. Both funds show the same value, so neither comes out ahead.

TBX0.95%TTT0.95%

Avg volume · 30D

TBX 2.5×the volume

TBX23.7KTTT9.44K

10Y return · a year

TBX +1.9pt

TBX+2.3%TTT+0.4%

TBX vs TTT Performance

Oct 29, 2021 – Oct 30, 2026

+39.2%TBX+221.2%TTT

Oct 29, 2021 to Oct 30, 2026. TBX +39.2%. TTT +221.2%. Use the arrow keys to read each point.0%100%150%Oct 2021Apr 2024Oct 2026
Expense ratio
TBX 0.95%
TTT 0.95%
Fund size
TBX $21M
TTT $19M
1Y total return
TBX +7.3%
TTT +26.1%, better
Yield (12M)
TBX 2.59%
TTT 8.25%, better
Holdings
TBX 2
TTT 2
Avg volume (30D)
TBX 23.7K sh, better
TTT 9.44K sh
NAV per share
TBX $29.14
TTT $75.74
52W range

ETF.net Grade

TBX: Cost 56, Risk 75, Mission not scored, Tradability 63, Holdings 74, Durability 50. TTT: Cost 56, Risk 34, Mission not scored, Tradability 45, Holdings 65, Durability 50.
Pillar letters and Scores for TBX, TTT, with each pillar’s weight
PillarTBXTTT
Cost30% weightB56B56
Mission25% weightNot scoredNot scored
Risk15% weightA75HigherD34
Tradability15% weightB63HigherC45
Holdings10% weightA74HigherB65
Durability5% weightC50C50

Rank among Inverse Treasury funds

How we build Categories ›
Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

Same Category. TBX and TTT are both graded against the same 7 Inverse Treasury funds, so their Grades compare head to head.

Inverse Treasury⁠

Category · 7 funds
See all 7 ›

TBX ranks 2nd and TTT 4th of 7 funds in the Inverse Treasury Category.

  1. Rank 1BTBTProShares UltraShort 20+ Year TreasuryScore 69
  2. Rank 2BTBXProShares Short 7-10 Year TreasuryScore 63
  3. Rank 3BTBFProShares Short 20+ Year TreasuryScore 61
  4. Rank 4CPSTProShares UltraShort 7-10 Year TreasuryScore 50
  5. Rank 4CTTTProShares UltraPro Short 20+ Year TreasuryScore 50
  6. Rank 6DTMVDirexion Daily 20+ Year Treasury Bear 3X ETFScore 39

Our read on each fund

ETF.net Research

TBXBProShares Short 7-10 Year Treasury

TTTCProShares UltraPro Short 20+ Year Treasury

In short

TBX Most 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.

TTT The deep end of the Treasury short aisle. TTT aims for three times the inverse of the ICE U.S. Treasury 20+ Year Bond Index's daily move, reset every day, and it has been running this mandate since 2012.

Stated mandate

TBX 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.

TTT 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

  • TBX 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.
  • TTT Top rung of the leverage ladder on long Treasuries: -3x the index's daily move, so a 1% drop in 20+ year bond prices targets roughly a 3% gain before fees.proshares.com
  • 0.95% net of a waiver through September 30, 2027 (1.25% gross), a shade under TMV, the other -3x fund on this index at 0.97%, and near the category norm.
  • One issuer runs the whole ladder on this benchmark: TBF at -1x and TBT at -2x (0.93%, no waiver), so the exposure can be dialed down without changing families.proshares.com

Worth knowing

  • TBX 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.
  • TTT The objective is a single day. Hold longer and returns compound; the fund's filings state that index volatility works against returns over longer periods.sec.govsec.gov 2
  • A small fund that trades thinly, so bid/ask spreads can run wider than on the bigger names in the leveraged bear Treasury aisle.
  • The 0.95% rests on a contractual waiver through September 30, 2027. Without it the stated gross expense ratio is 1.25%.

Full TBX profile⁠

Full TTT profile⁠

TBX vs TTT Holdings

How we measure overlap

Each holding counts at its smaller weight in the two funds, summed over the full Holdings. Sector, country and asset class use the same rule on each fund’s split. Cash, FX and derivative lines stay out of the counts. Two bond funds get no overlap figure.

TBX vs TTT Cost

Same expense ratio

$17,869

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

  • TBX 0.95%

    $17,869

  • TTT 0.95%

    $17,869

$10,000
30 years

Cost over time

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

Year by year

YearTBXTTT
10$1,678$1,678
20$6,322$6,322
30$17,869$17,869

Expense ratio

  • 0.95%TBX
  • 0.95%TTT
  • Middle half of Inverse Treasury funds
  • Median 0.95%

TBX 2nd cheapest of 7 funds

TTT 2nd cheapest of 7 funds

TBX vs TTT Dividends

Last 12 months to Oct 30, 2026
Yield (12M)
TBX 2.59%
TTT 8.25%, better
Payout (12M)
TBX $0.76
TTT $6.27
Last payment
TBX $0.18
TTT $0.33
Ex-dividend
TBX Sep 23, 2026
TTT Sep 23, 2026
Paid on
TBX Sep 29, 2026
TTT Sep 29, 2026
Frequency
TBX Quarterly
TTT Quarterly

Distribution history

Per share, 2018 to 2026, same scale for both

TBXQuarterly · 24 paymentsAll TBX payments⁠
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.$0$10202020232026YTD
TTTQuarterly · 22 paymentsAll TTT payments⁠
One bar per payment. 22 payments from 2018 to 2026 YTD. Sep 26, 2018 $0.18; Dec 26, 2018 $0.28; Mar 20, 2019 $0.26; Jun 25, 2019 $0.35; Sep 25, 2019 $0.29; Dec 24, 2019 $0.34; Mar 25, 2020 $0.09; Dec 22, 2022 $0.26; Mar 22, 2023 $0.23; Jun 21, 2023 $0.34; Sep 20, 2023 $0.14; Dec 20, 2023 $8.67; Jun 26, 2024 $0.18; Sep 25, 2024 $0.22; Dec 23, 2024 $3.48; Mar 26, 2025 $0.49; Jun 25, 2025 $0.42; Sep 24, 2025 $0.48; Dec 24, 2025 $5.21; Mar 25, 2026 $0.33; Jun 24, 2026 $0.40; Sep 23, 2026 $0.33. Use the arrow keys to read each point.$0$10202020232026YTD

TBX vs TTT Risk

Fall from peak · 5 years

  • TBX
  • TTT
Oct 29, 2021 to Oct 30, 2026. Worst fall: TTT −48.1% · Sep 2024. Use the arrow keys to read each point.−50%−40%−30%−20%−10%0%Oct 2021Apr 2024Oct 2026

Risk facts

VolatilityStd dev, 3 years
TBX 6.6%, betterTTT 40.0%
Return per unit of riskSharpe ratio, 3 years
TBX −0.30TTT −0.03, better
Worst fallMax drawdown, 5 years
TBX −7.7%, betterTTT −48.1%
Market sensitivityBeta, 5 years
TBX −1.17TTT −7.18

Popular comparisons

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    ProShares Short 7-10 Year Treasury · ProShares UltraShort 20+ Year Treasury

    Expense ratio
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    Category
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  • TTTCvsTBTB

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  • TBXBvsPSTC

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  • TTTCvsPSTC

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