Key stats
About ProShares Short 20+ Year Treasury
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Inception date
Aug 18, 2009
Structure
Open-Ended Fund
Replication method
Synthetic
Dividend treatment
Distributes
Distribution tax treatment
Ordinary income
Income tax type
Capital Gains
Max ST capital gains rate
39.60%
Max LT capital gains rate
20.00%
Primary advisor
ProShare Advisors LLC
Distributor
SEI Investments Distribution Co.
TBF is a choice for levered bets on rising interest rates. Using a combination of swaps and futures, TBF gives investors inverse (-1x) exposure to daily moves in T-bonds with more than 20 years left to maturity. The daily reset means investors shouldn't expect the leverage factor to hold constant over investment horizons greater than one day. In short, the fund is a valid option for tactical positioning/hedging against rising interest rates, but it's important to keep in mind that the -1x leverage results in greater impact from the effects of compounding. As a levered product, TBF is not a buy-and-hold ETF, it's a short-term tactical instrument. On Oct. 14, 2016, TBF changed its underlying index from Bloomberg Barclays U.S. 20+ Year Treasury Bond Index to ICE U.S. Treasury 20+ Year Bond Index. The change had minimal impact on investor’s exposure.
Classification
What's in the fund
Exposure type
Cash
Government
Stock breakdown by region
Top 10 holdings
TBF heading higher: on the verge of major breakout!AMEX:TBF is poised for a major breakout of its long-term downtrend channel short term bullish wedge. As interest rates continue to rise, TBF is poised to benefit. Both the fundamentals and the chart are beginning to align. I will be taking a position in TBF sometime this week.
Interest Rates Look Bullish: TBF is the ETF to BuyOn December 20th I posted an idea for a long position in AMEX:TBF based on the likelihood of the asset breaking out of its long-term downtrend and short-term wedge pattern. Here is the link to the original idea:
Today this breakout is taking place and I am initiating a long position in TBF. Giv
TBF Weekly 25-50 MACD with a 10 WK MAWe have ended (as of Dec of last year when the Fed announced QE3, and rates went up from there), a 30+ yr bull market in bonds which began in Volcker's reign, when friends of mine were able to buy MA municipals at a 14% yield. Who knows what affect this will have on stocks? My guess is negative
See all ideas
Summarizing what the indicators are suggesting.
Oscillators
Neutral
SellBuy
Strong sellStrong buy
Strong sellSellNeutralBuyStrong buy
Oscillators
Neutral
SellBuy
Strong sellStrong buy
Strong sellSellNeutralBuyStrong buy
Summary
Neutral
SellBuy
Strong sellStrong buy
Strong sellSellNeutralBuyStrong buy
Summary
Neutral
SellBuy
Strong sellStrong buy
Strong sellSellNeutralBuyStrong buy
Summary
Neutral
SellBuy
Strong sellStrong buy
Strong sellSellNeutralBuyStrong buy
Moving Averages
Neutral
SellBuy
Strong sellStrong buy
Strong sellSellNeutralBuyStrong buy
Moving Averages
Neutral
SellBuy
Strong sellStrong buy
Strong sellSellNeutralBuyStrong buy
Displays a symbol's price movements over previous years to identify recurring trends.
Related funds
Frequently Asked Questions
An exchange-traded fund (ETF) is a collection of assets (stocks, bonds, commodities, etc.) that track an underlying index and can be bought on an exchange like individual stocks.
TBF trades at 24.94 USD today, its price has fallen −0.72% in the past 24 hours. Track more dynamics on TBF price chart.
TBF net asset value is 25.13 today — it's risen 4.92% over the past month. NAV represents the total value of the fund's assets less liabilities and serves as a gauge of the fund's performance.
TBF assets under management is 88.52 M USD. AUM is an important metric as it reflects the fund's size and can serve as a gauge of how successful the fund is in attracting investors, which, in its turn, can influence decision-making.
TBF price has risen by 3.75% over the last month, and its yearly performance shows a 1.05% increase. See more dynamics on TBF price chart.
NAV returns, another gauge of an ETF dynamics, have risen by 4.92% over the last month, showed a 7.19% increase in three-month performance and has increased by 8.81% in a year.
NAV returns, another gauge of an ETF dynamics, have risen by 4.92% over the last month, showed a 7.19% increase in three-month performance and has increased by 8.81% in a year.
TBF fund flows account for −12.88 M USD (1 year). Many traders use this metric to get insight into investors' sentiment and evaluate whether it's time to buy or sell the fund.
Since ETFs work like an individual stock, they can be bought and sold on exchanges (e.g. NASDAQ, NYSE, EURONEXT). As it happens with stocks, you need to select a brokerage to access trading. Explore our list of available brokers to find the one to help execute your strategies. Don't forget to do your research before getting to trading. Explore ETFs metrics in our ETF screener to find a reliable opportunity.
TBF invests in cash. See more details in our Analysis section.
TBF expense ratio is 0.95%. It's an important metric for helping traders understand the fund's operating costs relative to assets and how expensive it would be to hold the fund.
TBF is an inverse fund, meaning it's structured to generate returns opposite to the trends of the underlying index or assets.
In some ways, ETFs are safe investments, but in a broader sense, they're not safer than any other asset, so it's crucial to analyze a fund before investing. But if your research gives a vague answer, you can always refer to technical analysis.
Today, TBF technical analysis shows the buy rating and its 1-week rating is buy. Since market conditions are prone to changes, it's worth looking a bit further into the future — according to the 1-month rating TBF shows the strong buy signal. See more of TBF technicals for a more comprehensive analysis.
Today, TBF technical analysis shows the buy rating and its 1-week rating is buy. Since market conditions are prone to changes, it's worth looking a bit further into the future — according to the 1-month rating TBF shows the strong buy signal. See more of TBF technicals for a more comprehensive analysis.
Yes, TBF pays dividends to its holders with the dividend yield of 4.14%.
TBF trades at a premium (0.17%).
Premium/discount to NAV expresses the difference between the ETF’s price and its NAV value. A positive percentage indicates a premium, meaning the ETF trades at a higher price than the calculated NAV. Conversely, a negative percentage indicates a discount, suggesting the ETF trades at a lower price than NAV.
Premium/discount to NAV expresses the difference between the ETF’s price and its NAV value. A positive percentage indicates a premium, meaning the ETF trades at a higher price than the calculated NAV. Conversely, a negative percentage indicates a discount, suggesting the ETF trades at a lower price than NAV.
TBF shares are issued by ProShare Advisors LLC
TBF follows the US Treasury 20+ Year Index. ETFs usually track some benchmark seeking to replicate its performance and guide asset selection and objectives.
The fund started trading on Aug 18, 2009.
The fund's management style is passive, meaning it's aiming to replicate the performance of the underlying index by holding assets in the same proportions as the index. The goal is to match the index's returns.