ProShares - Short 20+ Year Treasury
TBF
New York Stock Exchange Arca- -
USD
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- -
Capital Structure
FRC
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in mil. unless spec.Working Capital
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in mil. unless spec.Growth Rates
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in mil. unless spec.Quarterly Revenue
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in mil. unless spec.Quarterly Earnings Per Share
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in mil. unless spec.Quarterly Dividends Per Share
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in mil. unless spec.- Sector
- Financial Services
- Industry
- Asset Management - Leveraged
- Address
- 7501 Wisconsin Avenue, Suite 1000E Bethesda MD United States of America 20814
- IPO Date
- Aug 20, 2009
- CIK
- 0001174610
- Website
- proshares.com
- Similar Companies
- Business
- ProShares Short 20+ Year Treasury (TBF) seeks daily investment results that correspond to the inverse (-1x) of the daily performance of the ICE U.S. Treasury 20+ Year Bond Index before fees and expenses. The fund, an exchange-traded fund managed by ProShare Advisors LLC, invests principally in derivatives including swap agreements with major global financial institutions such as Morgan Stanley, Goldman Sachs International, Citibank NA, Bank of America NA, Societe Generale, and Barclays Capital, as well as futures contracts on long bond (CBT); it also holds money market instruments comprising U.S. Treasury bills and repurchase agreements. Launched on August 18, 2009, and listed on NYSE Arca, TBF targets investors seeking short exposure to U.S. Treasury securities with remaining maturities greater than 20 years, excluding inflation-linked bonds, Treasury bills, cash management bills, agency debt, and stripped zero-coupon issues, operating within North American markets with a net expense ratio of 0.95% following fee waivers through September 30, 2026. The fund is non-diversified and rebalances daily to maintain inverse exposure, with shares issued and redeemed in creation units to authorized participants while trading secondarily at market prices. In recent developments, ProShare Advisors extended its contractual fee waiver and expense reimbursement agreement through September 30, 2026, to cap total annual fund operating expenses at 0.95%; the fund updated its broad-based securities market index benchmark from the ICE U.S. Treasury Core Bond Index to the Bloomberg U.S. Aggregate Bond Index after November 13, 2024; and its summary prospectus was refreshed on September 26, 2025, incorporating current portfolio management by Alexander Ilyasov since April 2019 and James Linneman since March 2022. ProShares Trust, headquartered at 7272 Wisconsin Avenue, 21st Floor, Bethesda, MD 20814, serves as the sponsor for TBF among its suite of leveraged and inverse ETFs.