LTL vs. SGOV
LTL (ProShares Ultra Telecommunications) and SGOV (iShares 0-3 Month Treasury Bond ETF) are both exchange-traded funds - LTL is a Leveraged Equities fund tracking the Dow Jones U.S. Select Telecommunications Index (200%), while SGOV is a Ultrashort Bond fund tracking the ICE 0-3 Month US Treasury Securities Index. Both are passively managed. Over the past 5 years, LTL returned 16.49%/yr vs 3.54%/yr for SGOV. At a 0.01 correlation, their price movements are largely independent. LTL charges 0.95%/yr vs 0.09%/yr for SGOV.
Performance
LTL vs. SGOV - Performance Comparison
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Returns By Period
In the year-to-date period, LTL achieves a -11.79% return, which is significantly lower than SGOV's 1.51% return.
LTL
- 1D
- -2.50%
- 1M
- -7.30%
- YTD
- -11.79%
- 6M
- -7.47%
- 1Y
- 15.16%
- 3Y*
- 36.33%
- 5Y*
- 16.49%
- 10Y*
- 9.43%
SGOV
- 1D
- 0.01%
- 1M
- 0.29%
- YTD
- 1.51%
- 6M
- 1.80%
- 1Y
- 3.95%
- 3Y*
- 4.72%
- 5Y*
- 3.54%
- 10Y*
- —
LTL vs. SGOV - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
LTL ProShares Ultra Telecommunications | -11.79% | 37.06% | 65.15% | 62.03% | -41.14% | 40.42% | 19.08% |
SGOV iShares 0-3 Month Treasury Bond ETF | 1.51% | 4.24% | 5.27% | 5.12% | 1.58% | 0.04% | 0.05% |
Correlation
The correlation between LTL and SGOV is -0.15, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.15 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.01 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.02 |
Correlation (All Time) Calculated using the full available price history since May 29, 2020 | 0.01 |
The correlation between LTL and SGOV shifts across timeframes, from -0.15 (1 year) to 0.02 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
LTL vs. SGOV — Risk / Return Rank
LTL
SGOV
LTL vs. SGOV - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares Ultra Telecommunications (LTL) and iShares 0-3 Month Treasury Bond ETF (SGOV). 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.
| LTL | SGOV | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -19.71 | ||
| Sortino ratioReturn per unit of downside risk | -274.70 | ||
| Omega ratioGain probability vs. loss probability | 1.11 | 195.55 | -194.44 |
| Calmar ratioReturn relative to maximum drawdown | 0.71 | 398.20 | -397.49 |
| Martin ratioReturn relative to average drawdown | 2.10 | 4,462.00 | -4,459.90 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| LTL | SGOV | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.57 | 20.28 | -19.71 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.48 | 14.73 | -14.25 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.26 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.15 | 12.48 | -12.33 |
Drawdowns
LTL vs. SGOV - Drawdown Comparison
The maximum LTL drawdown since its inception was -80.20%, which is greater than SGOV's maximum drawdown of -0.03%. Use the drawdown chart below to compare losses from any high point for LTL and SGOV.
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Drawdown Indicators
| LTL | SGOV | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -80.20% | -0.03% | -80.17% |
Max Drawdown (1Y)Largest decline over 1 year | -21.43% | -0.01% | -21.42% |
Max Drawdown (3Y)Largest decline over 3 years | -34.37% | -0.01% | -34.36% |
Max Drawdown (5Y)Largest decline over 5 years | -52.60% | -0.03% | -52.57% |
Max Drawdown (10Y)Largest decline over 10 years | -64.15% | — | — |
Current DrawdownCurrent decline from peak | -14.89% | 0.00% | -14.89% |
Average DrawdownAverage peak-to-trough decline | -28.66% | -0.00% | -28.66% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 7.25% | 0.00% | +7.25% |
Volatility
LTL vs. SGOV - Volatility Comparison
ProShares Ultra Telecommunications (LTL) has a higher volatility of 7.57% compared to iShares 0-3 Month Treasury Bond ETF (SGOV) at 0.05%. This indicates that LTL's price experiences larger fluctuations and is considered to be riskier than SGOV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| LTL | SGOV | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.57% | 0.05% | +7.52% |
Volatility (6M)Calculated over the trailing 6-month period | 19.39% | 0.13% | +19.26% |
Volatility (1Y)Calculated over the trailing 1-year period | 26.85% | 0.20% | +26.65% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 34.56% | 0.24% | +34.32% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 36.96% | 0.24% | +36.72% |
LTL vs. SGOV - Expense Ratio Comparison
LTL has a 0.95% expense ratio, which is higher than SGOV's 0.09% expense ratio.
Dividends
LTL vs. SGOV - Dividend Comparison
LTL's dividend yield for the trailing twelve months is around 0.92%, less than SGOV's 3.86% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
LTL ProShares Ultra Telecommunications | 0.92% | 0.64% | 0.29% | 0.97% | 2.01% | 1.14% | 1.57% | 0.83% | 1.99% | 1.96% | 0.70% | 1.55% |
SGOV iShares 0-3 Month Treasury Bond ETF | 3.86% | 4.10% | 5.10% | 4.87% | 1.45% | 0.03% | 0.05% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
LTL and SGOV have a correlation of -0.15, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
LTL has higher volatility (7.57%) compared to SGOV (0.05%). In terms of maximum drawdown, LTL dropped -80.20% vs SGOV's -0.03%.
On 5-year performance, LTL leads with 16.49% vs 3.54% for SGOV. On fees, SGOV is cheaper at 0.09% per year. On volatility, SGOV has been the lower-risk option at 0.05%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, LTL has performed better with a 16.49% return vs 3.54%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SGOV is cheaper with a 0.09% expense ratio, compared with 0.95% for LTL.
SGOV has the higher dividend yield at 3.86%, compared with 0.92% for LTL.
LTL is categorized as Leveraged Equities, while SGOV is Ultrashort Bond. LTL tracks Dow Jones U.S. Select Telecommunications Index (200%), while SGOV tracks ICE 0-3 Month US Treasury Securities Index. They also come from different issuers: ProShares and iShares. Their fees differ too: 0.95% for LTL and 0.09% for SGOV.
SGOV currently has the higher Sharpe Ratio (20.28 vs 0.57), 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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