TBT vs VTI
ProShares UltraShort 20+ Year Treasury ETF vs Vanguard Morningstar Total Stock Market ETF
Quick Verdict
VTI has a lower expense ratio. VTI delivered stronger 1-year returns. VTI offers more diversification with 3,543 holdings.
Side-by-Side Comparison
| Metric | TBT | VTI | Winner |
|---|---|---|---|
| Expense Ratio | 0.93% | 0.03% | |
| AUM | $306M | $666.9B | |
| Dividend Yield | 2.52% | 1.07% | |
| Holdings | 10 | 3,543 | |
| YTD Return | +11.48% | +13.14% | |
| 1Y Return | +8.68% | +22.35% | |
| 3Y Return (annualized) | +6.21% | +21.83% | |
| 5Y Return (annualized) | +20.94% | +12.01% | |
| Volatility (annualized) | 28.1% | 15.3% | |
| Max Drawdown | -95.2% | -56.6% | |
| Fund Family | ProShares | Vanguard (US) | |
| Category | Alternative | Equity | |
| Inception | Apr 29, 2008 | May 24, 2001 |
TBT vs VTI Performance
ProShares UltraShort 20+ Year Treasury ETF (TBT) is a ETF from ProShares and Vanguard Morningstar Total Stock Market ETF (VTI) is a ETF from Vanguard (US). Over the past year TBT returned +8.68% while VTI returned +22.35%. Year to date, TBT is up 11.48% versus a gain of 13.14% for VTI.
Over three years, TBT compounded at +6.21% per year against +21.83% for VTI; over five years the annualized figures are +20.94% and +12.01% respectively. Across the full 18-year window we track, VTI has the edge at +8.09% annualized vs -9.53%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
TBT has been the more volatile fund, with annualized monthly volatility of 28.1% compared with 15.3% for VTI. 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 -95.2% for TBT 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 0.08. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
TBT charges 0.93% per year while VTI charges 0.03%. On a $10,000 position that is $93 vs $3 annually, a gap of $90 per year that compounds over a long holding period. On income, TBT currently yields 2.52% against 1.07% for VTI.
Holdings Overlap
TBT and VTI share 0 holdings out of 2788 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, TBT or VTI?
TBT has an expense ratio of 0.93% while VTI charges 0.03%. VTI is the cheaper option. On a $10,000 investment, that is $90 per year of difference.
Which performed better, TBT or VTI?
Over the past year TBT returned +8.68% vs +22.35% for VTI, so VTI leads on 1-year performance. Over the longest common window we track (18 years), TBT annualized -9.53% vs +8.09% for VTI. Past performance does not guarantee future results.
Which is riskier, TBT or VTI?
TBT has been the more volatile fund at 28.1% annualized versus 15.3% for VTI. Worst drawdown: TBT -95.2% vs VTI -56.6%.
Should I hold both TBT and VTI?
TBT and VTI have a monthly-return correlation of 0.08, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between TBT and VTI?
TBT and VTI share 0 common holdings with a 0.0% weight overlap. Combined, they hold 2788 unique securities.
Which pays a higher dividend, TBT or VTI?
TBT yields 2.52% while VTI yields 1.07%, so TBT currently pays the higher dividend yield.
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