ProShares UltraShort 20+ Year Treasury ETF (NYSEARCA: TBT ) This ETF seeks two times (2x or 200%) the inverse daily performance of the ICE U.S. Treasury 20+ Year Bond Index. In fact, the upbeat U.S. January job data earlier this month ignited fresh fears of inflation and speculation of aggressive monetary policy tightening. Global fundamentals are accelerating as Trump's tax biggest overhaul in decades and a spending spree continue to boost investors' confidence in the world's largest economy.