# ProShares UltraShort 20+ Year Treasury (TBT) — Overview

TBT · NYSE · Fund

Canonical page: https://www.lighthorse.io/tickers/tbt

## Price

Last close $39.91 on Oct 15, 2026. 52-week range $31.79 – $42.98.

## Fund profile

TBT provides 2x inverse exposure, reset daily, to a market-value-weighted index that tracks the performance of US Treasury securities with remaining maturities greater than 20 years.

| Metric | Value |
| --- | --- |
| Issuer | ProShare Advisors |
| Industry | — |
| Inception | Apr 29, 2008 |
| Assets under management | $337.2M |
| Expense ratio | 0.93% |
| Net asset value | $41.14 (as of Oct 14, 2026) |
| Distributions | Quarterly |
| Leverage | 2x |

## Frequently Asked Questions

### What is ProShares UltraShort 20+ Year Treasury (TBT)?

TBT provides 2x inverse exposure, reset daily, to a market-value-weighted index that tracks the performance of US Treasury securities with remaining maturities greater than 20 years.

### What is TBT's expense ratio?

ProShares UltraShort 20+ Year Treasury charges an annual expense ratio of 0.93%. The fund is issued by ProShare Advisors.

### How large is TBT?

ProShares UltraShort 20+ Year Treasury manages $337.2M in assets and has traded since Apr 29, 2008.

### How do I buy shares of ProShares UltraShort 20+ Year Treasury (TBT)?

TBT trades commission-free with a Light Horse Securities brokerage account — from the mobile app, the web at [Light Horse Dashboard](https://portal.lighthorse.io), the trading API, or an [AI agent connected over MCP](/instructions/ai/claude). The trade panel on this page places the order once you are signed in.

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Quotes and charts are not real-time and must not be relied on for trade decisions or valuation.

This page is for informational purposes only. Nothing on it is a recommendation, solicitation or offer to buy or sell any security, nor investment, legal or tax advice. Light Horse Securities Inc does not verify third-party data and is not responsible for its accuracy, completeness or timeliness.

Data provided by [AInvest](https://www.ainvest.com).