TBF vs TBT
ProShares Short 20+ Year Treasury compared with ProShares UltraShort 20+ Year Treasury on yield, payout growth, payment schedule, cost and risk.
TBF
ProShares Short 20+ Year Treasury
TTM yield · Quarterly
TBT
ProShares UltraShort 20+ Year Treasury
TTM yield · Quarterly
Quick take
- TBF yields more today: 2.39% vs 2.22% (forward).
- Both pay every quarter.
- Over the last year TBT delivered the higher total return: +7.6% vs +5.7% (price change plus payouts).
- TBT is cheaper to own: 0.93% vs 0.95% expense ratio.
Generated from the latest data on both pages. Not a recommendation.
Side by side
| Metric | TBF | TBT |
|---|---|---|
| Share price | $25.43 | $38.18 |
| TTM yield | 2.66% | 2.54% |
| Forward yield | 2.39% | 2.22% |
| Annual payout per share | $0.608 | $0.848 |
| Payment frequency | Quarterly | Quarterly |
| Next ex-date | Sep 23, 2026 (est.) | Sep 23, 2026 (est.) |
| Expense ratio | 0.95% | 0.93% |
| 1-year payout growth | — | — |
| 5-year payout CAGR | — | — |
| Consecutive years of increases | — | — |
| Payout consistency (last 12) | 66/100 | 69/100 |
| 1-year total return | +5.7% | +7.6% |
| 1-year price return | +3.0% | +4.9% |
| Size (market cap / AUM) | 116.0M | 297.1M |
| Years paying | 8.2 | 18.0 |
| Sector / category | Trading--Inverse Debt | Trading--Inverse Debt |
✓ marks the more favourable figure where one exists (higher yield, growth, streak, consistency, return and size; lower cost, payout ratio and risk).
$10,000 invested today
| TBF | TBT | |
|---|---|---|
| Shares | 393.2 | 261.9 |
| Income per year | $239 | $222 |
| Income per month (avg) | $20 | $19 |
Next payments
| Ex-date | Pay date | Per share | Status |
|---|---|---|---|
| TBF Sep 23, 2026 | Oct 7, 2026 | $0.152 | Est. |
| TBF Dec 23, 2026 | Jan 6, 2027 | $0.152 | Est. |
| TBF Mar 24, 2027 | Apr 7, 2027 | $0.152 | Est. |
| TBT Sep 23, 2026 | Oct 7, 2026 | $0.212 | Est. |
| TBT Dec 23, 2026 | Jan 6, 2027 | $0.212 | Est. |
| TBT Mar 24, 2027 | Apr 7, 2027 | $0.212 | Est. |
Annual payouts per share
TBFTBT
Regular payments only; the current year is year to date. Per-share amounts are not directly comparable when share prices differ, so read this chart for growth trends.
FAQ
Which has the higher dividend yield, TBF or TBT?
TBF currently has the higher trailing yield: TBF yields 2.66% and TBT yields 2.54%. Yield changes daily with price, so check the live figures above.
How often do TBF and TBT pay?
TBF pays every quarter and TBT pays every quarter. TBF's next ex-date is Sep 23, 2026 and TBT's is Sep 23, 2026.
Is TBF or TBT better for income?
It depends on what you are optimising for. TBF and TBT differ in yield, growth, payment schedule and risk profile; the table above puts every metric side by side so you can weigh them for your own goals. This page is data, not advice.