FLXR vs. UST
FLXR (TCW Flexible Income ETF) and UST (ProShares Ultra 7-10 Year Treasury) are both exchange-traded funds - FLXR is a Multisector Bonds fund actively managed by TCW, while UST is a Leveraged Bonds fund tracking the Barclays Capital U.S. 7-10 Year Treasury Index (200%). FLXR is actively managed, while UST is passively managed. Over the past year, FLXR returned 4.12% vs -3.20% for UST. Their 0.75 correlation means they have sometimes moved together and sometimes differently. FLXR charges 0.40%/yr vs 0.95%/yr for UST.
Performance
FLXR vs. UST - Performance Comparison
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Returns By Period
In the year-to-date period, FLXR achieves a 1.30% return, which is significantly higher than UST's -5.28% return.
FLXR
- 1D
- -0.15%
- 1M
- -0.36%
- 6M
- 0.92%
- YTD
- 1.30%
- 1Y
- 4.12%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 6.72%
UST
- 1D
- -1.21%
- 1M
- -3.09%
- 6M
- -4.76%
- YTD
- -5.28%
- 1Y
- -3.20%
- 3Y*
- 0.33%
- 5Y*
- -8.23%
- 10Y*
- -2.65%
- ALL TIME*
- 2.33%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $14.67M | $16.19M | $17.11M | |
| $532.69K | $437.48K | $326.17K |
FLXR vs. UST - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
FLXR TCW Flexible Income ETF | 1.30% | 8.37% | 4.42% |
UST ProShares Ultra 7-10 Year Treasury | -5.28% | 10.26% | -1.88% |
Correlation
The correlation between FLXR and UST is 0.75, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.75 |
Correlation (All Time) Calculated using the full available price history since Jun 24, 2024 | 0.75 |
The correlation between FLXR and UST has been stable across timeframes, ranging from 0.75 to 0.75 - a consistent structural relationship.
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Return for Risk
FLXR vs. UST — Risk / Return Rank
FLXR
UST
FLXR vs. UST - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for TCW Flexible Income ETF (FLXR) and ProShares Ultra 7-10 Year Treasury (UST). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| FLXR | UST | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.05 | ||
| Sortino ratioReturn per unit of downside risk | +2.92 | ||
| Omega ratioGain probability vs. loss probability | 1.36 | 0.99 | +0.37 |
| Calmar ratioReturn relative to maximum drawdown | 3.10 | -0.11 | +3.21 |
| Martin ratioReturn relative to average drawdown | 12.66 | -0.23 | +12.89 |
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Drawdowns
FLXR vs. UST - Drawdown Comparison
The maximum FLXR drawdown since its inception was -1.94%, smaller than the maximum UST drawdown of -47.99%. Use the drawdown chart below to compare losses from any high point for FLXR and UST.
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Drawdown Indicators
| FLXR | UST | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -1.94% | -47.99% | +46.05% |
Max Drawdown (1Y)Largest decline over 1 year | -1.46% | -8.86% | +7.40% |
Max Drawdown (3Y)Largest decline over 3 years | — | -14.85% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -43.97% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -47.99% | — |
Current DrawdownCurrent decline from peak | -0.46% | -39.85% | +39.39% |
Average DrawdownAverage peak-to-trough decline | -0.35% | -15.35% | +15.00% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.36% | 4.04% | -3.68% |
Volatility
FLXR vs. UST - Volatility Comparison
The current volatility for TCW Flexible Income ETF (FLXR) is 0.67%, while ProShares Ultra 7-10 Year Treasury (UST) has a volatility of 2.58%. This indicates that FLXR experiences smaller price fluctuations and is considered to be less risky than UST based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FLXR | UST | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.67% | 2.58% | -1.91% |
Volatility (6M)Calculated over the trailing 6-month period | 1.85% | 7.22% | -5.37% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.33% | 9.28% | -6.95% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.79% | 15.44% | -12.65% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 2.79% | 13.15% | -10.36% |
FLXR vs. UST - Expense Ratio Comparison
FLXR has a 0.40% expense ratio, which is lower than UST's 0.95% expense ratio.
Dividends
FLXR vs. UST - Dividend Comparison
FLXR's dividend yield for the trailing twelve months is around 5.91%, more than UST's 3.65% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FLXR TCW Flexible Income ETF | 5.47% | 5.66% | 3.44% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
UST ProShares Ultra 7-10 Year Treasury | 3.65% | 3.65% | 4.09% | 3.49% | 0.47% | 0.27% | 0.53% | 1.42% | 1.71% | 0.84% | 0.64% | 0.75% |
Frequently Asked Questions
FLXR and UST have a correlation of 0.75, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
UST has higher volatility (2.58%) compared to FLXR (0.67%). In terms of maximum drawdown, FLXR dropped -1.94% vs UST's -47.99%.
On 1-year performance, FLXR leads with 4.12% vs -3.20% for UST. On fees, FLXR is cheaper at 0.40% per year. On volatility, FLXR has been the lower-risk option at 0.67%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, FLXR has performed better with a 4.12% return vs -3.20%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
FLXR is cheaper with a 0.40% expense ratio, compared with 0.95% for UST.
FLXR has the higher dividend yield at 5.47%, compared with 3.65% for UST.
FLXR is categorized as Multisector Bonds, while UST is Leveraged Bonds. They also come from different issuers: TCW and ProShares. Their fees differ too: 0.40% for FLXR and 0.95% for UST.
FLXR currently has the higher Sharpe Ratio (1.95 vs -0.10), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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