TBTProShares UltraShort 20+ Year Treasury

ProShares UltraShort 20+ Year Treasury is a leveraged inverse bond ETF designed to provide daily investment results that correspond to two times the opposite of the ICE U.S. Treasury 20+ Year Bond Index. The fund focuses on U.S. Treasury securities with remaining maturities greater than 20 years and uses derivatives such as swaps and futures to achieve its objective. Its structure makes it a tactical fixed-income product rather than a traditional bond holding, with performance intended to reset each trading day. ProShares UltraShort 20+ Year Treasury is used by market participants seeking short-term exposure to long-duration Treasury price moves and the interest-rate sensitivity of long-dated U.S. government bonds. It is part of ProShares’ leveraged and inverse ETF lineup and plays a role in fixed-income trading, portfolio positioning, and duration management.