ProShares Short 7-10 Year Treasury (TBX) Performance
TBX total return
Distributions reinvested · as of Oct 23, 2026- YTD
- +7.2% since Dec 31, 2025
- 1 year
- +8.8% total return
- 5 years
- +6.9% a year
- 10 years
- +2.5% a year
- Since first price
- −0.8% a year since 2011
TBX trailing returns vs SPY, QQQ, AGG
| Period | TBX total return | Price only | S&P 500 (SPY) | Nasdaq-100 (QQQ) | U.S. bonds (AGG) |
|---|---|---|---|---|---|
| 1 month | −0.8% | −0.8% | −1.0% | −5.0% | +0.9% |
| 3 months | +2.3% | +1.7% | +3.2% | +1.9% | −0.4% |
| 6 months | +5.5% | +4.3% | +7.8% | +8.4% | −1.5% |
| YTD | +7.2% | +5.5% | +12.3% | +15.1% | −1.0% |
| 1 year | +8.8% | +5.9% | +14.4% | +15.9% | −1.1% |
| 3 years | +8.2%+2.7%/yr | −5.9% | +87.4%+23.3%/yr | +101.4%+26.3%/yr | +16.6%+5.2%/yr |
| 5 years | +39.4%+6.9%/yr | +18.8% | +79.3%+12.4%/yr | +94.0%+14.2%/yr | −0.8%−0.2%/yr |
| 10 years | +27.5%+2.5%/yr | +6.2% | +315.9%+15.3%/yr | +538.9%+20.4%/yr | +14.0%+1.3%/yr |
| 15 years | −1.0%−0.1%/yr | −17.5% | +696.0%+14.8%/yr | +1,299.3%+19.2%/yr | +32.2%+1.9%/yr |
| Since inceptionApr 5, 2011 | −12.3%−0.8%/yr | −27.0% | — | — | — |
Total return from adjusted closes (distributions reinvested, before tax). Periods of 3 years or more are also shown annualized. Price only excludes distributions.
Growth of $10,000: TBX vs SPY
From Apr 5, 2011: TBX grew to $8,769, SPY to $74,817.
Year-end values with distributions reinvested, no taxes or trading costs. Start: first common trading day of both funds.
TBX returns by calendar year
6 of 14 full years positive. Best 2022 (+18.3%), worst 2014 (−10.1%). 2026 is year to date.
TBX annual returns table
| Year | TBX | Largest drop | SPY | QQQ | AGG |
|---|---|---|---|---|---|
| 2026YTD | +7.2% | −2.5% | +12.3% | +15.1% | −1.0% |
| 2025 | −1.1% | −6.8% | +17.7% | +20.8% | +7.2% |
| 2024 | +8.5% | −6.4% | +24.9% | +25.6% | +1.3% |
| 2023 | +4.0% | −7.8% | +26.2% | +54.9% | +5.7% |
| 2022 | +18.3% | −7.4% | −18.2% | −32.6% | −13.0% |
| 2021 | +1.7% | −5.3% | +28.7% | +27.4% | −1.8% |
| 2020 | −10.0% | −11.1% | +18.3% | +48.6% | +7.5% |
| 2019 | −5.2% | −9.1% | +31.2% | +39.0% | +8.5% |
| 2018 | +1.3% | −4.1% | −4.6% | −0.1% | +0.1% |
| 2017 | −2.6% | −5.7% | +21.7% | +32.7% | +3.6% |
| 2016 | −1.5% | −8.4% | +12.0% | +7.1% | +2.4% |
| 2015 | −3.2% | −5.6% | +1.2% | +9.4% | +0.5% |
| 2014 | −10.1% | −10.3% | +13.5% | +19.2% | +6.0% |
| 2013 | +4.6% | −4.8% | +32.3% | +36.6% | −2.0% |
| 2012 | −5.4% | −8.7% | +16.0% | +18.1% | +3.8% |
Largest drop = deepest fall from a high within that calendar year.
Calendar-year return vs largest drop within the year
Most years include a sizable fall at some point even when the year ends higher.
TBX largest drawdowns
Now 13.8% below the high| Peak | Decline | Bottom | Recovered | Fall | Underwater |
|---|---|---|---|---|---|
| Apr 11, 2011 | −41.0% | Aug 4, 2020 | not yet | 9.3 years | 15.5 years so far |
Declines from a closing high (distributions reinvested) of 10% or more. Underwater = time from the peak until the old high was regained.
TBX risk statistics
| Statistic | 3 years | 5 years | 10 years | Since 2011 |
|---|---|---|---|---|
| Annualized return | +4.1% | +7.5% | +2.8% | −0.6% |
| Volatility (annualized) | 6.5% | 7.5% | 6.6% | 6.5% |
| Sharpe ratio | -0.02 | 0.52 | 0.10 | -0.29 |
| Sortino ratio | -0.03 | 0.86 | 0.15 | -0.39 |
| Best month | +4.3% | +5.1% | +5.1% | +5.1% |
| Worst month | −3.6% | −3.6% | −3.8% | −5.0% |
| Best 12 months | +10.1% | +18.7% | +18.7% | +18.7% |
| Worst 12 months | −2.3% | −2.3% | −13.3% | −15.3% |
| Positive months | 53% | 60% | 54% | 50% |
| Beta vs S&P 500 | -0.21 | -0.25 | -0.08 | — |
| Correlation with S&P 500 | -0.40 | -0.52 | -0.18 | — |
From monthly total returns. Sharpe and Sortino use 1–3 month T-bills (BIL) as the risk-free rate, so they need history from 2007 on.
TBX rolling returns
| Holding period | Periods | Worst | Median | Best | Positive |
|---|---|---|---|---|---|
| 1-year | 175 | −15.3% | +1.0% | +18.7% | 54% |
| 3-year (a year) | 151 | −6.8% | −1.3% | +10.1% | 39% |
| 5-year (a year) | 127 | −6.8% | −2.0% | +7.5% | 38% |
| 10-year (a year) | 67 | −4.3% | −0.4% | +2.8% | 43% |
Every holding period starting at a month-end since 2011. Returns for 3 years and longer are annualized.
TBX performance overview
ProShares Short 7-10 Year Treasury (TBX) returned +8.8% over the past year and +2.5% a year over ten years, with distributions reinvested. Since its first recorded price in 2011 it has returned −0.8% a year, turning $10,000 into about $8,769. Over the same year S&P 500 (SPY) returned +14.4%.
The deepest decline was −41.0%, from Apr 11, 2011 to Aug 4, 2020; the fund has not yet regained that high. TBX finished 6 of its 14 full calendar years with a gain; the best year was 2022 (+18.3%) and the worst 2014 (−10.1%). Volatility has been 6.5% a year.
Related: TBX chart, TBX dividends. See the TBX overview for the latest quote and fund facts.
TBX performance FAQ
What is the TBX return over the past year?
TBX returned +8.8% over the 12 months to October 23, 2026, including reinvested distributions. On price alone it rose 5.9%.
What is the average annual return of TBX?
TBX has returned +6.9% a year over 5 years, +2.5% a year over 10 years, −0.8% a year since April 5, 2011 (total return, distributions reinvested).
How much would $10,000 invested in TBX be worth?
$10,000 invested in TBX at its first recorded close on April 5, 2011 would be worth about $8,769 on October 23, 2026 with distributions reinvested.
What was the worst year for TBX?
The worst calendar year was 2014, with a total return of −10.1%. The best was 2022 at +18.3%.
What is the biggest drawdown of TBX?
The largest peak-to-trough decline was −41.0% between April 11, 2011 and August 4, 2020. It has not yet recovered to that high; it is 13.8% below its peak.
How volatile is TBX?
Over the past 3 years TBX had an annualized volatility of 6.5% and a Sharpe ratio of -0.02 (excess return over 1–3 month T-bills per unit of risk).