TBT vs TMV
ProShares UltraShort 20+ Year Treasury compared with Direxion Daily 20+ Year Treasury Bear 3X Shares on yield, payout growth, payment schedule, cost and risk.
TBT
ProShares UltraShort 20+ Year Treasury
TTM yield · Quarterly
TMV
Direxion Daily 20+ Year Treasury Bear 3X Shares
TTM yield · Quarterly
Quick take
- TMV yields more today: 2.27% vs 2.22% (forward).
- Both pay every quarter.
- Over the last year TMV delivered the higher total return: +11.2% vs +7.6% (price change plus payouts).
- TBT is cheaper to own: 0.93% vs 0.97% expense ratio.
Generated from the latest data on both pages. Not a recommendation.
Side by side
| Metric | TBT | TMV |
|---|---|---|
| Share price | $38.18 | $42.40 |
| TTM yield | 2.54% | 2.27% |
| Forward yield | 2.22% | 2.27% |
| Annual payout per share | $0.848 | $0.964 |
| Payment frequency | Quarterly | Quarterly |
| Next ex-date | Sep 23, 2026 (est.) | Sep 22, 2026 (est.) |
| Expense ratio | 0.93% | 0.97% |
| 1-year payout growth | — | — |
| 5-year payout CAGR | — | — |
| Consecutive years of increases | — | — |
| Payout consistency (last 12) | 69/100 | 64/100 |
| 1-year total return | +7.6% | +11.2% |
| 1-year price return | +4.9% | +8.8% |
| Size (market cap / AUM) | 297.1M | 200.9M |
| Years paying | 18.0 | 16.8 |
| 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
| TBT | TMV | |
|---|---|---|
| Shares | 261.9 | 235.8 |
| Income per year | $222 | $227 |
| Income per month (avg) | $19 | $19 |
Next payments
| Ex-date | Pay date | Per share | Status |
|---|---|---|---|
| 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. |
| TMV Sep 22, 2026 | Oct 6, 2026 | $0.241 | Est. |
| TMV Dec 22, 2026 | Jan 5, 2027 | $0.241 | Est. |
| TMV Mar 23, 2027 | Apr 6, 2027 | $0.241 | Est. |
Annual payouts per share
TBTTMV
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, TBT or TMV?
TBT currently has the higher trailing yield: TBT yields 2.54% and TMV yields 2.27%. Yield changes daily with price, so check the live figures above.
How often do TBT and TMV pay?
TBT pays every quarter and TMV pays every quarter. TBT's next ex-date is Sep 23, 2026 and TMV's is Sep 22, 2026.
Is TBT or TMV better for income?
It depends on what you are optimising for. TBT and TMV 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.