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TBT vs TTT
Which ETF would AI Choose? ProShares UltraShort 20+ Year Treasury (TBT) vs. ProShares UltraPro Short 20+ Year Treasury (TTT)
Key Takeaways
- Both exchange-traded funds (ETFs) seek daily inverse leveraged exposure to the ICE U.S. Treasury 20+ Year Bond Index, with TBT targeting -2x and TTT targeting -3x daily performance.
- TBT and TTT employ derivative instruments such as swaps and futures rather than direct bond holdings, resulting in low traditional holding counts focused on cash equivalents and contracts.
- Expense ratios stand at 0.93% for TBT and 0.95% (net) for TTT, reflecting the higher operational complexity of leveraged inverse strategies.
- The funds serve as tactical tools for investors seeking to profit from or hedge against declines in long-term U.S. Treasury bond prices, with TTT offering greater amplification and volatility.
- Both ETFs rebalance daily to maintain their leverage targets, making them suitable for short-term positioning rather than buy-and-hold approaches over extended periods.
- Structural similarities position them as alternatives within the same thematic category, differentiated primarily by leverage magnitude and associated risk-return profiles.
Introduction
ProShares UltraShort 20+ Year Treasury (TBT) and ProShares UltraPro Short 20+ Year Treasury (TTT) provide investors with leveraged inverse exposure to long-duration U.S. Treasuries. These exchange-traded funds do not compete directly with traditional bond ETFs but instead offer alternative strategies for those anticipating rising yields or seeking portfolio hedges against bond price declines. Their shared benchmark and issuer make them comparable options differentiated by leverage levels, enabling investors to calibrate exposure intensity within the same market segment.
ProShares UltraShort 20+ Year Treasury (TBT) Overview
ProShares UltraShort 20+ Year Treasury (TBT) seeks daily investment results, before fees and expenses, equal to -2x the daily performance of the ICE U.S. Treasury 20+ Year Bond Index. The fund utilizes a combination of swaps, futures, and other derivatives to achieve its objective, resulting in a limited number of holdings primarily consisting of cash equivalents and derivative contracts rather than individual bonds. TBT maintains an expense ratio of 0.93%. As a passive leveraged inverse product, it resets exposure daily and appeals to investors focused on short-term tactical views on long-term Treasury yields. Distinguishing features include its established track record since 2008 and options availability for additional flexibility.
ProShares UltraPro Short 20+ Year Treasury (TTT) Overview
ProShares UltraPro Short 20+ Year Treasury (TTT) targets daily results, before fees and expenses, of -3x the daily performance of the same ICE U.S. Treasury 20+ Year Bond Index. Like its counterpart, TTT relies on derivative instruments including swaps and futures, leading to a holdings profile dominated by contracts and cash rather than physical securities. The fund carries a net expense ratio of 0.95%. Launched in 2012, this passive leveraged inverse ETF provides amplified daily exposure for those with stronger bearish convictions on long-duration Treasuries, with daily rebalancing to sustain the target multiple and options trading support.
Industry and Thematic Backdrop
The U.S. Treasury market, particularly the long end of the yield curve, remains sensitive to Federal Reserve policy shifts, inflation trends, and fiscal developments. Rising interest rate expectations or sustained economic resilience can pressure bond prices, creating environments where inverse leveraged products gain relevance for hedging or directional strategies. Regulatory oversight of derivatives usage and liquidity in the Treasury futures market influences operational efficiency for such funds. Broader macroeconomic factors, including growth differentials and geopolitical events, continue to drive capital flows into or away from long-duration government debt.
Performance and Positioning Comparison
In recent market cycles, both funds have exhibited amplified responses to movements in long-term Treasury yields, with TTT demonstrating higher volatility due to its greater leverage multiple. Relative positioning favors TBT for scenarios requiring moderated daily swings, while TTT aligns with strategies seeking more pronounced reactions to yield increases. Performance dynamics tie closely to interest rate expectations and sector rotation away from fixed income during periods of economic strength. The daily reset mechanism in both products can lead to compounding effects that differ from simple multiples over multi-day periods, underscoring their role in tactical rather than strategic allocations.
AI Screener
Tickeron’s AI Screener is an AI-powered stock and ETF discovery tool that helps traders and investors filter the market based on technical patterns, fundamentals, trends, volatility, and AI-driven signals. Users can scan thousands of stocks and ETFs using customizable filters such as industry, market capitalization, technical indicators, price patterns, and performance metrics. The screener helps identify trade ideas, trending stocks, breakout candidates, and market opportunities more efficiently than manual screening. Explore the AI Screener to uncover additional opportunities aligned with your strategy.
Tickeron AI Verdict
Based on observable structural factors including lower expense ratio, established liquidity profile, and balanced leverage for risk-adjusted exposure, Tickeron’s AI would currently assign a higher probability of preference to ProShares UltraShort 20+ Year Treasury (TBT) over ProShares UltraPro Short 20+ Year Treasury (TTT) in comparable market conditions.
Disclaimer
The information on this webpage is provided for general informational and educational purposes only and is not intended as investment advice, a recommendation to purchase or sell any security, or an offer or solicitation related to investments. It does not consider your personal financial situation, goals, or risk profile, and all investing carries inherent risks, including the possibility of losing your entire investment. For more details, please review our full disclaimer.
To compare these two companies we present long-term analysis, their fundamental ratings and make comparative short-term technical analysis which are presented below. The conclusion is TBT is a Hold and TTT is a Hold.
TBT in downward trend: 10-day moving average crossed below 50-day moving average on October 27, 2026
The 10-day moving average for TBT crossed bearishly below the 50-day moving average on October 27, 2026. This indicates that the trend has shifted lower and could be considered a sell signal. In 13 of 14 past instances when the 10-day crossed below the 50-day, the stock continued to move higher over the following month. The odds of a continued downward trend are 90%.
Technical Analysis (Indicators)
Bearish Trend Analysis
The Momentum Indicator moved below the 0 level on October 13, 2026. You may want to consider selling the stock, shorting the stock, or exploring put options on TBT as a result. In 73 of 88 cases where the Momentum Indicator fell below 0, the stock fell further within the subsequent month. The odds of a continued downward trend are 83%.
The Moving Average Convergence Divergence Histogram (MACD) for TBT turned negative on October 12, 2026. This could be a sign that the stock is set to turn lower in the coming weeks. Traders may want to sell the stock or buy put options. Tickeron's A.I.dvisor looked at 47 similar instances when the indicator turned negative. In 40 of the 47 cases the stock turned lower in the days that followed. This puts the odds of success at 85%.
TBT moved below its 50-day moving average on October 22, 2026 date and that indicates a change from an upward trend to a downward trend.
Following a 3-day decline, the stock is projected to fall further. Considering past instances where TBT declined for three days, the price rose further in 50 of 62 cases within the following month. The odds of a continued downward trend are 79%.
Bullish Trend Analysis
The RSI Oscillator points to a transition from a downward trend to an upward trend -- in cases where TBT's RSI Oscillator exited the oversold zone, 17 of 18 resulted in an increase in price. Tickeron's analysis proposes that the odds of a continued upward trend are 90%.
The Stochastic Oscillator shows that the ticker has stayed in the oversold zone for 15 days. The price of this ticker is presumed to bounce back soon, since the longer the ticker stays in the oversold zone, the more promptly an upward trend is expected.
Following a +1.75% 3-day Advance, the price is estimated to grow further. Considering data from situations where TBT advanced for three days, in 260 of 298 cases, the price rose further within the following month. The odds of a continued upward trend are 87%.
TBT may jump back above the lower band and head toward the middle band. Traders may consider buying the stock or exploring call options.
The Aroon Indicator entered an Uptrend today. In 262 of 296 cases where TBT Aroon's Indicator entered an Uptrend, the price rose further within the following month. The odds of a continued Uptrend are 89%.
TTT in downward trend: 10-day moving average crossed below 50-day moving average on October 27, 2026
The 10-day moving average for TTT crossed bearishly below the 50-day moving average on October 27, 2026. This indicates that the trend has shifted lower and could be considered a sell signal. In 13 of 14 past instances when the 10-day crossed below the 50-day, the stock continued to move higher over the following month. The odds of a continued downward trend are 90%.
Technical Analysis (Indicators)
Bearish Trend Analysis
The Momentum Indicator moved below the 0 level on October 13, 2026. You may want to consider selling the stock, shorting the stock, or exploring put options on TTT as a result. In 73 of 88 cases where the Momentum Indicator fell below 0, the stock fell further within the subsequent month. The odds of a continued downward trend are 83%.
The Moving Average Convergence Divergence Histogram (MACD) for TTT turned negative on October 12, 2026. This could be a sign that the stock is set to turn lower in the coming weeks. Traders may want to sell the stock or buy put options. Tickeron's A.I.dvisor looked at 48 similar instances when the indicator turned negative. In 41 of the 48 cases the stock turned lower in the days that followed. This puts the odds of success at 85%.
TTT moved below its 50-day moving average on October 22, 2026 date and that indicates a change from an upward trend to a downward trend.
Following a 3-day decline, the stock is projected to fall further. Considering past instances where TTT declined for three days, the price rose further in 50 of 62 cases within the following month. The odds of a continued downward trend are 83%.
Bullish Trend Analysis
The RSI Oscillator points to a transition from a downward trend to an upward trend -- in cases where TTT's RSI Indicator exited the oversold zone, 20 of 20 resulted in an increase in price. Tickeron's analysis proposes that the odds of a continued upward trend are 90%.
The Stochastic Oscillator shows that the ticker has stayed in the oversold zone for 15 days. The price of this ticker is presumed to bounce back soon, since the longer the ticker stays in the oversold zone, the more promptly an upward trend is expected.
Following a +3.11% 3-day Advance, the price is estimated to grow further. Considering data from situations where TTT advanced for three days, in 263 of 294 cases, the price rose further within the following month. The odds of a continued upward trend are 89%.
TTT may jump back above the lower band and head toward the middle band. Traders may consider buying the stock or exploring call options.
The Aroon Indicator entered an Uptrend today. In 242 of 270 cases where TTT Aroon's Indicator entered an Uptrend, the price rose further within the following month. The odds of a continued Uptrend are 90%.
| TBT | TTT | |
|---|---|---|
| RSI ODDS (%) | 2 days ago 90% | 2 days ago 90% |
| Stochastic ODDS (%) | 2 days ago 90% | 2 days ago 88% |
| Momentum ODDS (%) | 2 days ago 83% | 2 days ago 83% |
| MACD ODDS (%) | 2 days ago 85% | 2 days ago 85% |
| TrendWeek ODDS (%) | 2 days ago 90% | 2 days ago 90% |
| TrendMonth ODDS (%) | 2 days ago 82% | 2 days ago 84% |
| Advances ODDS (%) | 8 days ago 87% | 8 days ago 89% |
| Declines ODDS (%) | 3 days ago 79% | 3 days ago 83% |
| BollingerBands ODDS (%) | 2 days ago 90% | 2 days ago 90% |
| Aroon ODDS (%) | 2 days ago 89% | 2 days ago 90% |
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