TBFvsUSFRETF Comparison
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ProShares Short 20+ Year Treasury ETF (TBF) belongs to the Inverse Fixed Income segment. WisdomTree Floating Rate Treasury Fund (USFR) is part of the US Government Bonds segment. Both ETFs have the same top 1 sector exposures: Sovereign. TBF is more expensive with a Total Expense Ratio (TER) of 1%, versus 0.15% for USFR. TBF is up 6.3% year-to-date (YTD) with +$46M in YTD flows. USFR performs worse with 2.6% YTD performance, and +$2.40B in YTD flows. Run a side-by-side ETF comparison of TBF and USFR below, and assess how they stack up in performance, liquidity, risk, exposure, holdings, and more, helping you select the best ETF for your investments.
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TBF vs USFR performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 09/02/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | TBF USFR | +0.34%+0.30% | +3.98%+1.00% | +6.30%+2.60% | +4.60%+4.00% | +18.44%+14.61% | +80.48%+20.90% |
| Flows | TBF USFR | +$11M+$423M | -$16M+$1.55B | +$46M+$2.40B | +$43M+$40M | -$86M+$718M | -$715M+$17.69B |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | TBF USFR | +10.09%+0.15% | +9.44%+0.16% | +13.36%+0.21% | +15.53%+0.22% |
| Max drawdown | TBF USFR | -3.53%n/a | -6.60%n/a | -17.72%n/a | -17.72%-0.04% |
| Max drawdown duration | TBF USFR | 32dn/a | 198dn/a | 579dn/a | 579d29d |
Trading data
TBF | USFR | |
Last sale 9/3/2026 at 1:30 PM | $25.48 | $50.38 |
| Previous close 09/02/2026 | $25.49 | $50.38 |
| Consolidated volume 09/02/2026 | ||
| Average volume 30 days | ||
| Average discount or premium 30 days | ||
| Average Bid/Ask spread 30 days |
Replication quality
Data as of August 31, 2026
1-year trailing difference
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TBF | USFR | |
|---|---|---|
| Tracking error | ||
| Tracking difference | ||
| 1 year cumulative return difference | ||
| Best | ||
| Worst | ||
| Daily return difference | ||
| Average | ||
| Worst | ||
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Main metrics
Last update 9/3/2026 at 1:30 PM
Live
Closed
TBF | USFR | |
|---|---|---|
| Last price | $25.48 | $50.38 |
| 1D performance | -0.04% | +0.00% |
| AuM | $116.38 M | $18.80 B |
| E/R | 1% | 0.15% |
Characteristics
TBF | USFR | |
|---|---|---|
| Management strategy | Passive | Passive |
| Provider | ProShares | WisdomTree |
| Benchmark | ICE U.S. Treasury 20+ Year Index | Bloomberg U.S. Treasury Floating Rate Bond Index |
| N° of holdings | 11 | 5 |
| Asset class | Bonds | Bonds |
| Trailing 12m distribution yield | Join | Join |
| Inception date | August 18, 2009 | February 4, 2014 |
| ESG | No | No |
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Exposure
Countries
TBF
USA
74.17%
Other
25.83%
USFR
USA
99.02%
Other
0.98%
Sectors
TBF
Sovereign
74.17%
Other
25.83%
USFR
Sovereign
99.02%
Other
0.98%
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Diversification
TBF
Total weight of top 11 holdings out of 11
74.17%
USFR
Total weight of top 5 holdings out of 5
99.02%
Top 15 holdings
Data as of July 31, 2026
TBF
USA, Bills 0% 3sep2026, USD (364D)
26.14%
USA, Bills 0% 17sep2026, USD (182D)
8.89%
USA, Bills 0% 13aug2026, USD (182D)
6.54%
USA, Bills 0% 10sep2026, USD (182D)
6.00%
USA, Bills 0% 22oct2026, USD (182D)
5.41%
USA, Bills 0% 24sep2026, USD (182D)
4.95%
USA, Bills 0% 1oct2026, USD (364D)
4.64%
USA, Bills 0% 8oct2026, USD (182D)
3.77%
USA, Bills 0% 6oct2026, USD (119D)
3.31%
USA, Bills 0% 15oct2026, USD (182D)
3.09%
USA, Bills 0% 29sep2026, USD (119D)
1.44%
USFR
USA, Notes FRN 31oct2027, USD (BK-2027)
27.83%
USA, Notes FRN 30apr2028, USD (BB-2028)
27.80%
USA, Notes FRN 31jan2028, USD (AX-2028)
27.80%
USA, Notes FRN 31jul2027, USD (BF-2027)
9.06%
USA, Notes FRN 31jul2028, USD (BF-2028)
6.53%
Frequently asked questions about TBF and USFR
How have the TBF and USFR ETFs performed in 2026?
As of September 2, 2026, TBF is up 6.3% year-to-date (YTD), while USFR has returned 2.6%. That puts TBF better performer ahead so far this year.
Which ETF is attracting more investor money: TBF or USFR?
Year-to-date, the TBF ETF saw +$46M in flows, compared to +$2.40B for USFR.
Which ETF is more volatile: TBF or USFR?
Over the past year, TBF had a volatility of 9.44%, while USFR experienced 0.16%.
Which ETF is bigger: TBF or USFR?
As of September 2, 2026, TBF holds $116.38 M in assets under management (AUM), while USFR manages $18.80 B.
What sectors do the TBF and USFR ETFs invest in?
TBF leans toward sectors like Sovereign. Meanwhile, USFR focuses on Sovereign.
What are the top holdings of the TBF ETF and USFR ETF?
TBF top holdings include USA, Bills 0% 3sep2026, USD (364D), USA, Bills 0% 17sep2026, USD (182D) and USA, Bills 0% 13aug2026, USD (182D). USFR holds in its top three: USA, Notes FRN 31oct2027, USD (BK-2027), USA, Notes FRN 30apr2028, USD (BB-2028) and USA, Notes FRN 31jan2028, USD (AX-2028).
Which ETF is more diversified: TBF or USFR?
TBF has 11 securities and USFR has 5 securities.
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