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HYHG vs. TBT
Performance
Risk-Adjusted Performance
Dividends
Drawdowns
Volatility

Correlation

The correlation between HYHG and TBT is 0.17, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.


-0.50.00.51.0
Correlation: 0.2

Performance

HYHG vs. TBT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares High Yield-Interest Rate Hedged (HYHG) and ProShares UltraShort 20+ Year Treasury (TBT). The values are adjusted to include any dividend payments, if applicable.

-40.00%-20.00%0.00%20.00%40.00%60.00%NovemberDecember2025FebruaryMarchApril
56.14%
-38.37%
HYHG
TBT

Key characteristics

Sharpe Ratio

HYHG:

0.73

TBT:

-0.04

Sortino Ratio

HYHG:

1.08

TBT:

0.15

Omega Ratio

HYHG:

1.18

TBT:

1.02

Calmar Ratio

HYHG:

0.82

TBT:

-0.01

Martin Ratio

HYHG:

3.53

TBT:

-0.10

Ulcer Index

HYHG:

1.73%

TBT:

12.26%

Daily Std Dev

HYHG:

8.34%

TBT:

28.53%

Max Drawdown

HYHG:

-25.71%

TBT:

-94.99%

Current Drawdown

HYHG:

-3.78%

TBT:

-86.38%

Returns By Period

In the year-to-date period, HYHG achieves a -1.15% return, which is significantly higher than TBT's -3.66% return. Over the past 10 years, HYHG has outperformed TBT with an annualized return of 4.39%, while TBT has yielded a comparatively lower -1.02% annualized return.


HYHG

YTD

-1.15%

1M

-0.67%

6M

1.14%

1Y

5.87%

5Y*

8.57%

10Y*

4.39%

TBT

YTD

-3.66%

1M

-0.51%

6M

5.67%

1Y

-3.03%

5Y*

20.37%

10Y*

-1.02%

*Annualized

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HYHG vs. TBT - Expense Ratio Comparison

HYHG has a 0.50% expense ratio, which is lower than TBT's 0.92% expense ratio.


Expense ratio chart for TBT: current value is 0.92%, compared with the broader market range of 0.00% to 2.12%.0.50%1.00%1.50%2.00%
TBT: 0.92%
Expense ratio chart for HYHG: current value is 0.50%, compared with the broader market range of 0.00% to 2.12%.0.50%1.00%1.50%2.00%
HYHG: 0.50%

Risk-Adjusted Performance

HYHG vs. TBT — Risk-Adjusted Performance Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

HYHG
The Risk-Adjusted Performance Rank of HYHG is 7575
Overall Rank
The Sharpe Ratio Rank of HYHG is 7272
Sharpe Ratio Rank
The Sortino Ratio Rank of HYHG is 7171
Sortino Ratio Rank
The Omega Ratio Rank of HYHG is 7777
Omega Ratio Rank
The Calmar Ratio Rank of HYHG is 7979
Calmar Ratio Rank
The Martin Ratio Rank of HYHG is 7878
Martin Ratio Rank

TBT
The Risk-Adjusted Performance Rank of TBT is 2020
Overall Rank
The Sharpe Ratio Rank of TBT is 1919
Sharpe Ratio Rank
The Sortino Ratio Rank of TBT is 2222
Sortino Ratio Rank
The Omega Ratio Rank of TBT is 2121
Omega Ratio Rank
The Calmar Ratio Rank of TBT is 2121
Calmar Ratio Rank
The Martin Ratio Rank of TBT is 2020
Martin Ratio Rank
The risk-adjusted ranks indicate the investment's position relative to the market. A rank closer to 100 signifies top-performing investments, while a rank closer to 0 might suggest underperformance, based on the selected ratio. The values are calculated based on the past 12 months of returns.

HYHG vs. TBT - Risk-Adjusted Performance Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares High Yield-Interest Rate Hedged (HYHG) and ProShares UltraShort 20+ Year Treasury (TBT). 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.


The chart of Sharpe ratio for HYHG, currently valued at 0.73, compared to the broader market-1.000.001.002.003.004.00
HYHG: 0.73
TBT: -0.04
The chart of Sortino ratio for HYHG, currently valued at 1.08, compared to the broader market-2.000.002.004.006.008.00
HYHG: 1.08
TBT: 0.15
The chart of Omega ratio for HYHG, currently valued at 1.18, compared to the broader market0.501.001.502.00
HYHG: 1.18
TBT: 1.02
The chart of Calmar ratio for HYHG, currently valued at 0.82, compared to the broader market0.002.004.006.008.0010.0012.00
HYHG: 0.82
TBT: -0.02
The chart of Martin ratio for HYHG, currently valued at 3.53, compared to the broader market0.0020.0040.0060.00
HYHG: 3.53
TBT: -0.10

The current HYHG Sharpe Ratio is 0.73, which is higher than the TBT Sharpe Ratio of -0.04. The chart below compares the historical Sharpe Ratios of HYHG and TBT, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.


Rolling 12-month Sharpe Ratio-1.000.001.002.003.00NovemberDecember2025FebruaryMarchApril
0.73
-0.04
HYHG
TBT

Dividends

HYHG vs. TBT - Dividend Comparison

HYHG's dividend yield for the trailing twelve months is around 6.89%, more than TBT's 4.55% yield.


TTM20242023202220212020201920182017201620152014
HYHG
ProShares High Yield-Interest Rate Hedged
6.89%6.57%6.07%5.58%4.54%5.21%6.06%6.45%5.57%5.37%6.37%5.51%
TBT
ProShares UltraShort 20+ Year Treasury
4.55%4.64%4.98%0.42%0.00%0.32%2.12%0.99%0.00%0.00%0.00%0.00%

Drawdowns

HYHG vs. TBT - Drawdown Comparison

The maximum HYHG drawdown since its inception was -25.71%, smaller than the maximum TBT drawdown of -94.99%. Use the drawdown chart below to compare losses from any high point for HYHG and TBT. For additional features, visit the drawdowns tool.


-60.00%-50.00%-40.00%-30.00%-20.00%-10.00%0.00%NovemberDecember2025FebruaryMarchApril
-3.78%
-51.04%
HYHG
TBT

Volatility

HYHG vs. TBT - Volatility Comparison

The current volatility for ProShares High Yield-Interest Rate Hedged (HYHG) is 5.94%, while ProShares UltraShort 20+ Year Treasury (TBT) has a volatility of 11.40%. This indicates that HYHG experiences smaller price fluctuations and is considered to be less risky than TBT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.


0.00%2.00%4.00%6.00%8.00%10.00%12.00%NovemberDecember2025FebruaryMarchApril
5.94%
11.40%
HYHG
TBT