Understand any stock in simple English
Enter a ticker to learn what the company does and how it makes money.
ProShares Ultra 7-10 Year Treasury
It is an exchange-traded fund that gives investors twice the daily price movement of U.S. Treasury bonds maturing in 7 to 10 years.
ProShares Ultra 7-10 Year Treasury is a fund, not a company that makes or sells anything. It holds U.S. Treasury bonds that come due in 7 to 10 years, and it aims to deliver twice the daily price change of those bonds. An investor buys it like a stock, and what they get is amplified exposure to the middle part of the Treasury curve — the sweet spot where bonds are neither super short nor very long.
The "2x" part is the whole point and the whole risk. If the underlying 7-10 year Treasury index rises 1% on a given day, the fund tries to rise about 2%. If it falls 1%, the fund tries to fall about 2%. This works because the fund uses leverage, largely through derivative contracts and borrowing arrangements, to stack extra exposure on top of its bond holdings. It resets that leverage every single day, which is why the fund is built for short-term trading rather than years of buy-and-hold. That daily reset creates a quiet trap. In a choppy market that goes nowhere, the compounding of up-and-down days can erode the fund's value even if the underlying bonds end flat over the same stretch. Investors who hold it for months or years can see returns that drift far from a simple doubled version of the bond index. The fund itself is upfront about this: it is designed as a short-term tool, and ProShares warns that holding it longer than a day can produce results very different from the stated objective.
The fund is run by ProShares, a major issuer of leveraged and inverse ETFs, and it trades on NYSE Arca. It charges an expense ratio and also carries the hidden costs of leverage — the financing on borrowed exposure — which eat into returns over time, especially in higher-rate environments. It suits traders who want a tactical, magnified bet on Treasury prices moving up, or who want to hedge, and it is a poor fit for anyone treating it as a long-term bond holding.
Saved answer · last researched 14 Nov 2026