# TLT Leveraged ETFs: 2x, 3x & Inverse, Compared

> 6 leveraged and inverse ETFs on TLT: multiple, issuer, fee and net assets. Each against its stated multiple, as of Oct 27, 2026.

Data as of Oct 27, 2026. Rebuilt every trading night.

Data as of Oct 27, 2026 .

## TLT leveraged and inverse ETFs

As of Oct 27, 2026, 6 ETFs aim to return −3x to 3x the daily move in 20-year Treasuries (TLT). 2 issuers sell them. Over three months they finished from −3.2 to +2.3 percentage points against what their stated multiples implied.

### Browse leveraged ETFs

### All 6 leveraged and inverse ETFs on TLT

| Ticker | Fund | Issuer | 1M vs multiple | 3M vs multiple | 1Y vs multiple | Net assets | Net assets as of | Fee | Total return 1M | Total return 3M | Total return YTD | Total return 1Y | Total return 3Y | Total return since launch | Multiple |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| TMF | Direxion Daily 20+ Year Treasury Bull 3X ETF | Direxion | −1.0 pts | −3.2 pts | −8.4 pts | $2.0bn | Oct 26, 2026 | 0.90% | +8.9% | −8.9% | −18.3% | −29.1% | −19.0% | −70.1% | +3x |
| TBT | ProShares UltraShort 20+ Year Treasury | ProShares | +0.6 pts | +1.9 pts | +9.7 pts | $290m | Oct 27, 2026 | 0.93% | −6.0% | +5.7% | +12.0% | +23.5% | +0.7% | −83.2% | -2x |
| TMV | Direxion Daily 20+ Year Treasury Bear 3X ETF | Direxion | +1.2 pts | +2.3 pts | +15.8 pts | $191m | Oct 26, 2026 | 0.97% | −8.7% | +8.0% | +18.3% | +36.5% | −5.1% | −92.7% | -3x |
| TBF | ProShares Short 20+ Year Treasury | ProShares | +0.3 pts | +1.1 pts | +5.9 pts | $122m | Oct 27, 2026 | 0.95% | −3.0% | +3.0% | +7.2% | +12.8% | +7.6% | −38.4% | -1x |
| UBT | ProShares Ultra 20+ Year Treasury | ProShares | −0.5 pts | −1.3 pts | −3.8 pts | $71m | Oct 27, 2026 | 0.95% | +6.1% | −5.1% | −9.9% | −17.6% | −1.1% | +2.2% | +2x |
| TTT | ProShares UltraPro Short 20+ Year Treasury | ProShares | +1.0 pts | +1.5 pts | +11.9 pts | $19m | Oct 27, 2026 | 0.95% | −8.9% | +7.2% | +15.5% | +32.6% | −12.6% | −73.7% | -3x |

What TLT itself did over the same days: +3.3% over one month, −1.9% over three months, −6.9% over one year.

### Questions people ask

Which 3x TLT ETFs are there? As of Oct 27, 2026, 1 ETF sets out to return 3x the daily move in 20-year Treasuries ( TLT ): TMF. Which 2x TLT ETFs are there? As of Oct 27, 2026, 1 ETF sets out to return 2x the daily move in 20-year Treasuries ( TLT ): UBT. Which inverse TLT ETFs are there? As of Oct 27, 2026, 4 ETFs set out to return the opposite of the daily move in 20-year Treasuries ( TLT ), from −3x to −1x: TBT , TMV , TBF and TTT. Which TLT leveraged ETF is largest? TMF , Direxion Daily 20+ Year Treasury Bull 3X ETF, at $2.0bn in net assets on Oct 26, 2026, the largest of the 6 on TLT with a published size.

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Source: ETFIQ, independent ETF data. Recomputed nightly from public filings and prices.
Cite: ETFIQ, TLT leveraged and inverse ETFs, data as of Oct 27, 2026. https://etfiq.com/leverage/tlt-leveraged-etfs
Licence: https://etfiq.com/license/ Data ETFIQ computes is free to use with attribution: ETFIQ (etfiq.com). Issuer data stays under its owner's terms.
HTML: https://etfiq.com/leverage/tlt-leveraged-etfs