# TBX (ProShares Short 7-10 Year Treasury)

ProShares · Leveraged ETFs · data as of Sep 30, 2026

Three months to Sep 30, 2026: TBX returned +6.2% where its own daily promise gave +4.5%, 1.7 points over.

## Key facts

- TBX, what IEF did: −4.3%, as of Sep 30, 2026.
- TBX, what −1 times a day gives: +4.5%, as of Sep 30, 2026.
- TBX, what the fund returned: +6.2%, as of Sep 30, 2026.
- TBX, the fund itself added: +1.7 pts, as of Sep 30, 2026.
- TBX, net assets: $19m (issuer page, as of Sep 30, 2026).
- TBX, expense ratio: 0.95% (485BPOS XBRL, Sep 25, 2026).

## TBX over each window to Sep 30, 2026

| Window | Fund | IEF | -1x the move | Difference | IEF moved about |
| --- | --- | --- | --- | --- | --- |
| 1 month | +4.0% | −3.4% | +3.4% | +0.6 pts | 6% |
| 3 months | +6.2% | −4.3% | +4.3% | +1.8 pts | 5% |
| 6 months | +7.7% | −4.4% | +4.4% | +3.3 pts | 5% |
| 1 year | +10.1% | −3.7% | +3.7% | +6.3 pts | 5% |
| 3 years | +12.8% | +8.9% | −8.9% | +21.7 pts | 6% |
| Since launch | −10.5% | +35.5% | −35.5% | +24.9 pts | 6% |

## Every published field

| Field | Value | Source |
| --- | --- | --- |
| Sets out to return | -1 times the daily move of IEF, reset daily | ETFIQ |
| Multiple a holder actually got over the window | IEF moved −4.3% over this window, too little to read a multiple from | ETFIQ |
| Underlying | IEF | ETFIQ |
| Segment | asset class, bond | ETFIQ |
| Net assets | $19m | issuer page, as of Sep 30, 2026 |
| Expense ratio | 0.95% | 485BPOS XBRL, Sep 25, 2026 |
| Launched | Apr 5, 2011 | ETFIQ |
| Underlying volatility over the window | 5% annualized | ETFIQ |

## Questions

### Did TBX return -1 times IEF?

Over the window to Sep 30, 2026, IEF moved −4.3% and TBX returned +6.2%. −1 times that move is +4.3%, so the fund came out 1.8 points ahead of it.

### Why does TBX not return -1 times over a year?

Because it resets daily. TBX aims at -1 times each day's move, and daily results compound. Over a run where the underlying falls and comes back, compounding a levered daily return leaves a holder behind what -1 times the period move would suggest; over a steady run in one direction it can leave them ahead. The longer the holding, and the more the underlying moves about, the further apart the two figures get.


## Cite this page

ETFIQ, TBX, data as of Sep 30, 2026. https://etfiq.com/funds/tbx
Free to use with attribution; the underlying files are at https://etfiq.com/data/.

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