ProShares UltraPro Short 20+ Year Treasury (TTT)
ProShares UltraPro Short 20+ Year Treasury operates in the Asset Management industry of the Financial Services sector, headquartered in Bethesda, MD, US. The stock last traded at $76.18, up 0.30% on the session, giving a market capitalisation of $19.3M. Its beta of -7.18 implies it has historically moved less than the broad market.
TTT provides daily -3x exposure to the ICE U.S. Treasury 20+ Year Bond Index. Using a combination of swaps and futures, TTT gives investors -3x exposure to daily moves in T-bonds with more than 20 years left to maturity. The daily reset means investors shouldn't expect the leverage factor to hold constant over investment horizons greater than one day. In short, the fund is a valid option for tactical positioning/hedging against rising interest rates, but it's important to keep in mind that the -3x leverage results in greater impact from the effects of compounding. As a levered product, TTT is not a buy-and-hold ETF, it's a short-term tactical instrument. Prior to Oct. 14, 2016, TTT changed its underlying index from the Bloomberg Barclays U.S. 20+ Year Treasury Bond Index to the ICE U.S. Treasury 20+ Year Bond Index. The change had minimal impact on exposure.
ProShares UltraPro Short 20+ Year Treasury is most often compared with the following Financial Services names: