TBF vs VTI
ProShares Short 20+ Year Treasury vs Vanguard Total Stock Market ETF
Quick Verdict
VTI has a lower expense ratio. VTI delivered stronger 1-year returns. VTI offers more diversification with 2783 holdings.
Side-by-Side Comparison
| Metric | TBF | VTI | Winner |
|---|---|---|---|
| Expense Ratio | 0.95% | 0.03% | |
| AUM | $86M | $663.5B | |
| Dividend Yield | 2.80% | 1.07% | |
| Holdings | 10 | 3,543 | |
| YTD Return | +6.53% | +14.22% | |
| 1Y Return | +6.84% | +22.19% | |
| 3Y Return (annualized) | +6.29% | +21.27% | |
| 5Y Return (annualized) | +11.89% | +12.23% | |
| Volatility (annualized) | 13.5% | 15.3% | |
| Max Drawdown | -71.2% | -56.6% | |
| Fund Family | ProShares | Vanguard (US) | |
| Category | Alternative | Equity | |
| Inception | Aug 18, 2009 | May 24, 2001 |
TBF vs VTI Performance
ProShares Short 20+ Year Treasury (TBF) is a ETF from ProShares and Vanguard Total Stock Market ETF (VTI) is a ETF from Vanguard (US). Over the past year TBF returned +6.84% while VTI returned +22.19%. Year to date, TBF is up 6.53% versus a gain of 14.22% for VTI.
Over three years, TBF compounded at +6.29% per year against +21.27% for VTI; over five years the annualized figures are +11.89% and +12.23% respectively. Across the full 17-year window we track, VTI has the edge at +8.14% annualized vs -3.06%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
VTI has been the more volatile fund, with annualized monthly volatility of 15.3% compared with 13.5% for TBF. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -71.2% for TBF and -56.6% for VTI. Drawdown depth is worth weighing if you expect to sell during market stress rather than ride it out.
The two funds' monthly returns correlate at 0.09. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
TBF charges 0.95% per year while VTI charges 0.03%. On a $10,000 position that is $95 vs $3 annually, a gap of $92 per year that compounds over a long holding period. On income, TBF currently yields 2.80% against 1.07% for VTI.
Holdings Overlap
TBF and VTI share 0 holdings out of 2784 unique holdings combined, representing a 0.0% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, TBF or VTI?
TBF has an expense ratio of 0.95% while VTI charges 0.03%. VTI is the cheaper option. On a $10,000 investment, that is $92 per year of difference.
Which performed better, TBF or VTI?
Over the past year TBF returned +6.84% vs +22.19% for VTI, so VTI leads on 1-year performance. Over the longest common window we track (17 years), TBF annualized -3.06% vs +8.14% for VTI. Past performance does not guarantee future results.
Which is riskier, TBF or VTI?
VTI has been the more volatile fund at 15.3% annualized versus 13.5% for TBF. Worst drawdown: TBF -71.2% vs VTI -56.6%.
Should I hold both TBF and VTI?
TBF and VTI have a monthly-return correlation of 0.09, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between TBF and VTI?
TBF and VTI share 0 common holdings with a 0.0% weight overlap. Combined, they hold 2784 unique securities.
Which pays a higher dividend, TBF or VTI?
TBF yields 2.80% while VTI yields 1.07%, so TBF currently pays the higher dividend yield.
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