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TBTvsTMVETF Comparison

ETF 1
TBT

ProShares UltraShort 20+ YEAR TREASURY ETF

This fund is part of
Inverse Fixed Income
-0.78%
VS
ETF 2
TMV

Direxion Daily 20 Year Plus Treasury Bear 3X Shares ETF

This fund is part of
Inverse Fixed Income
-0.78%

The ETFs ProShares UltraShort 20+ YEAR TREASURY ETF (TBT) and Direxion Daily 20 Year Plus Treasury Bear 3X Shares ETF (TMV) track the ICE U.S. Treasury 20+ Year Total Return Index - USD and belong to the same industry segment: Inverse Fixed Income. TBT is less expensive with a Total Expense Ratio (TER) of 0.93%, versus 0.97% for TMV. TBT is up 11.84% year-to-date (YTD) with +$11M in YTD flows. TMV performs better with 18.08% YTD performance, and +$1M in YTD flows. Run a side-by-side ETF comparison of TBT and TMV 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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TBT vs TMV performance and flow charts

Performance

-10.0-5.00.05.0%Sep 28Oct 5Oct 12Oct 19Oct 26

Cumulative Flows

-20 M-10 M0 M10 M20 MSep 28Oct 5Oct 12Oct 19Oct 26

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Historic performance and flows
Data as of 10/26/2026
1M3MYTD1Y3Y5Y
Perf.
TBT
TMV
-7.69%-11.31%
+4.12%+6.10%
+11.84%+18.08%
+22.26%+36.26%
+0.68%-3.70%
+146.74%+222.45%
Flows
TBT
TMV
-$22M-$15M
-$10M+$4M
+$11M+$1M
-$20M-$17M
-$168M-$62M
-$2.11B-$571M
Volatility and drawdown
3M1Y3Y5Y
Volatility
TBT
TMV
+22.57%+33.37%
+19.21%+28.56%
+25.45%+38.42%
+30.87%+46.90%
Max drawdown
TBT
TMV
-10.84%-15.84%
-10.84%-15.84%
-32.66%-46.94%
-33.91%-48.49%
Max drawdown duration
TBT
TMV
21d21d
21d21d
1044d1058d
1070d1072d
Trading data

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TBT
TMV
Last sale
10/27/2026 at 1:30 PM
$38.47
$43.01
Previous close
10/26/2026
$38.34
$42.98
Consolidated volume
10/26/2026
Average volume
30 days
Average discount or premium
30 days
Average Bid/Ask spread
30 days
Replication quality
Data as of October 28, 2026
1-year trailing difference

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TBT
TMV
Tracking error
Tracking difference
1 year cumulative return difference
Best
Worst
Daily return difference
Average
Worst
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Main metrics
Last update 10/27/2026 at 1:30 PM
Live
Closed
TBT
TMV
Last price
$38.47
$43.01
1D performance
+0.34%
+0.07%
AuM$294.72 M$193.18 M
E/R0.93%0.97%
Characteristics
TBT
TMV
Management strategyPassivePassive
ProviderProSharesDirexion
BenchmarkICE U.S. Treasury 20+ Year IndexICE U.S. Treasury 20+ Year Index
N° of holdings--
Asset classBondsBonds
Trailing 12m distribution yield
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Inception dateApril 29, 2008April 16, 2009
ESGNoNo
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Exposure

Exposure data will be available soon

Frequently asked questions about TBT and TMV

How have the TBT and TMV ETFs performed in 2026?

As of October 26, 2026, TBT is up 11.84% year-to-date (YTD), while TMV has returned 18.08%. That puts TMV better performer ahead so far this year.

Which ETF is attracting more investor money: TBT or TMV?

Year-to-date, the TBT ETF saw +$11M in flows, compared to +$1M for TMV.

Which ETF is more volatile: TBT or TMV?

Over the past year, TBT had a volatility of 19.21%, while TMV experienced 28.56%.

Which ETF is bigger: TBT or TMV?

As of October 26, 2026, TBT holds $294.72 M in assets under management (AUM), while TMV manages $193.18 M.

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