TBILL Stock: ProShares Short QQQ ETF Profile & Analysis (2026)
A tactical inverse fund seeking -1x the daily performance of the Nasdaq-100 Index — Updated May 2026 with current AUM, expense ratio, holdings, and performance data.
The TBILL ETF (ProShares Short QQQ) is a specialized inverse investment vehicle designed to provide investors with the daily inverse (-1x) return of the Nasdaq-100 Index. This index is comprised of 100 of the largest non-financial companies listed on the Nasdaq, heavily featuring the semiconductor companies listed on U.S. exchanges. It is crucial to understand that TBILL is not intended for long-term holding, as its performance over periods longer than a single day can differ significantly from the inverse of the index due to the effects of daily compounding.
Because TBILL resets its exposure daily, it is subject to volatility decay, which can erode capital in sideways or choppy markets. This makes it a strictly short-term tactical hedging vehicle for traders who wish to profit from technology sector declines. For those seeking more aggressive inverse exposure, the SQQQ Stock Profile offers a 3x leveraged alternative, whereas TBILL provides a more conservative -1x profile for hedging portfolios containing major tech and growth holdings.
Key Takeaways — TBILL Stock
TBILL seeks to deliver -100% of the daily return of the Nasdaq-100. If the index drops 1%, TBILL should theoretically rise 1% before fees and expenses.
Due to daily rebalancing, TBILL is unsuitable for “buy and hold” investors. It is designed for active traders managing short-term market corrections.
The fund effectively bets against growth stocks and the SOXX Stock Profile components, making it a hedge against tech-sector volatility.
The daily reset mechanism causes value erosion in volatile markets. Compounding losses can happen quickly if the underlying index trends upward.
TBILL — Live Price Chart
Real-time chart from TradingView.
TBILL ETF Vitals & Key Statistics
Core data as of May 2026.
| Data Point | Value | Data Point | Value |
|---|---|---|---|
| Full Name | ProShares Short QQQ ETF | Ticker | TBILL |
| Issuer | ProShares (ProShare Advisors LLC) | Asset Class | Inverse Equity |
| Index Tracked | Nasdaq-100 Index (-1x Daily) | Structure | ETF |
| Expense Ratio | 0.95% | AUM | $547M |
| Inception Date | June 19, 2006 | Exchange | AMEX |
| No. of Holdings | 12 | Dividend Yield | 4.89% |
| 52-Week High | $36.56 | 52-Week Low | $25.11 |
| Avg Daily Volume | ~7.5M shares | YTD Return | 1.82% |
| 1-Year Return | 17.95% | 5-Year Return | 17.95% |
| Category | Trading—Inverse Equity | Dividend Frequency | Quarterly |
TBILL Top 10 Holdings (May 2026)
Largest positions by weight. Click columns to sort.
| Rank | Ticker | Company Name | Sector | Weight % |
|---|---|---|---|---|
| 1 | TBILLS | U.S. Treasury Bills (Collateral) | Government | 65.87% |
| 2 | CASH | Cash / Money Market | Cash | 34.13% |
| 3 | SWAP | Nasdaq-100 Swap (Goldman Sachs) | Derivatives | -20.00% |
| 4 | SWAP | Nasdaq-100 Swap (Morgan Stanley) | Derivatives | -20.00% |
| 5 | SWAP | Nasdaq-100 Swap (BofA) | Derivatives | -20.00% |
| 6 | SWAP | Nasdaq-100 Swap (Citibank) | Derivatives | -20.00% |
| 7 | SWAP | Nasdaq-100 Swap (BNP Paribas) | Derivatives | -10.00% |
| 8 | FUTURES | Nasdaq-100 Index Futures | Derivatives | -10.00% |
| 9 | CASH | Other Net Assets | Cash | < 1% |
| 10 | COLLATERAL | Various Government Bonds | Government | < 1% |
TBILL — Pros & Cons
✓ Bear Market Protection
Provides a simple way to profit from Nasdaq-100 declines without short-selling on margin.
✗ Volatility Decay
Frequent price swings lead to value erosion, meaning the ETF can lose money even if the index is flat over time.
✓ High Liquidity
Strong daily volume allows for rapid execution of trades with tight bid-ask spreads.
✗ Daily Reset Mechanism
Designed for a one-day timeframe; holding for weeks or months significantly increases risk.
✓ Portfolio Hedging
Allows investors to hedge tech-heavy portfolios during earnings seasons or macro uncertainty.
✗ Compounding Losses
In a trending bull market, losses compound daily, leading to rapid capital destruction.
Who Should Consider TBILL?
Short-term tactical traders and hedgers looking to protect a portfolio from immediate Nasdaq-100 downside.
Long-term investors, retirement savers, or those looking for a permanent “insurance” policy for their stocks.
You anticipate a high-probability, short-term correction in the technology sector or specific bearish macroeconomic triggers.
Active brokerage accounts or IRAs where tactical hedging is permitted and understood.
TBILL vs Similar ETFs
Key metrics comparison.
| ETF | Full Name | Expense Ratio | AUM | Holdings | Div Yield | YTD | Best For |
|---|---|---|---|---|---|---|---|
| TBILL ★ | ProShares Short QQQ ETF | 0.95% | $547M | 12 | 4.89% | 1.82% | -1x Daily Inverse Nasdaq |
| SQQQ | ProShares UltraPro Short QQQ | 0.95% | ~$4B | 15 | 1.2% | -15.2% | Aggressive -3x Short Tech |
| QID | ProShares UltraShort QQQ | 0.95% | ~$300M | 12 | 0.8% | -8.5% | Leveraged -2x Short Tech |
| SH | ProShares Short S&P500 | 0.88% | ~$2B | 10 | 1.5% | -2.1% | -1x Short S&P 500 |
TBILL Technical Analysis
Real-time buy/sell signals.
TBILL — Risks & Considerations
Daily Reset Mechanic
The fund resets daily, meaning its performance over long periods can deviate significantly from the inverse of the index return.
Volatility Erosion
Constant fluctuations in the Nasdaq-100 will cause the fund to lose value even if the index eventually returns to its starting point.
Sector Concentration
Since it shorts the Nasdaq-100, any positive news in the tech or biotech sectors will cause immediate losses.
Derivative Counterparty Risk
The fund uses swaps with banks; if a counterparty like Goldman Sachs or BofA fails, the fund could face losses.