In 2010, ProShares introduced a non-levered inverse long bond ETF, TBF. For someone with a long term view that rates will rise, this may be a better instrument than TBT. Below is a comparison of the longer term performance of TBF vs. the yield on the 30 year treasury bond ($TYX). The two have tracked much more closely than TBT over time.
|Click to Enlarge. |
(Unfortunately the scale is slightly skewed because the two series are plotted on separate axes.)