NFLT vs. UST
NFLT (Virtus Newfleet Multi-Sector Bond ETF) and UST (ProShares Ultra 7-10 Year Treasury) are both exchange-traded funds - NFLT is a Multisector Bonds fund actively managed by Virtus, while UST is a Leveraged Bonds fund tracking the Barclays Capital U.S. 7-10 Year Treasury Index (200%). NFLT is actively managed, while UST is passively managed. Over the past 10 years, NFLT returned 4.09%/yr vs -2.25%/yr for UST. At a 0.35 correlation, their price movements are largely independent. NFLT charges 0.50%/yr vs 0.95%/yr for UST.
Performance
NFLT vs. UST - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, NFLT achieves a 1.75% return, which is significantly higher than UST's -2.66% return. Over the past 10 years, NFLT has outperformed UST with an annualized return of 4.09%, while UST has yielded a comparatively lower -2.25% annualized return.
NFLT
- 1D
- -0.65%
- 1M
- 0.82%
- YTD
- 1.75%
- 6M
- 2.23%
- 1Y
- 7.42%
- 3Y*
- 7.50%
- 5Y*
- 3.13%
- 10Y*
- 4.09%
UST
- 1D
- -0.42%
- 1M
- 1.78%
- YTD
- -2.66%
- 6M
- -2.37%
- 1Y
- 3.24%
- 3Y*
- 0.27%
- 5Y*
- -6.96%
- 10Y*
- -2.25%
NFLT vs. UST - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
NFLT Virtus Newfleet Multi-Sector Bond ETF | 1.75% | 8.77% | 6.05% | 9.16% | -9.49% | 1.18% | 8.02% | 10.13% | -2.68% | 6.30% |
UST ProShares Ultra 7-10 Year Treasury | -2.66% | 10.26% | -6.19% | 0.16% | -30.19% | -7.81% | 18.83% | 13.34% | -1.09% | 3.21% |
Correlation
The correlation between NFLT and UST is 0.46, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.46 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.54 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.55 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.38 |
Correlation (All Time) Calculated using the full available price history since Aug 11, 2015 | 0.35 |
The correlation between NFLT and UST shifts across timeframes, from 0.35 (all time) to 0.55 (5 years), reflecting how their relationship changes across market environments.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
NFLT vs. UST — Risk / Return Rank
NFLT
UST
NFLT vs. UST - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Virtus Newfleet Multi-Sector Bond ETF (NFLT) 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.
| NFLT | UST | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.61 | ||
| Sortino ratioReturn per unit of downside risk | +2.34 | ||
| Omega ratioGain probability vs. loss probability | 1.35 | 1.05 | +0.30 |
| Calmar ratioReturn relative to maximum drawdown | 3.26 | 0.28 | +2.98 |
| Martin ratioReturn relative to average drawdown | 14.29 | 0.77 | +13.53 |
Loading charts...
Drawdowns
NFLT vs. UST - Drawdown Comparison
The maximum NFLT drawdown since its inception was -15.17%, smaller than the maximum UST drawdown of -47.99%. Use the drawdown chart below to compare losses from any high point for NFLT and UST.
Loading charts...
Drawdown Indicators
| NFLT | UST | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -15.17% | -47.99% | +32.82% |
Max Drawdown (1Y)Largest decline over 1 year | -2.42% | -8.75% | +6.33% |
Max Drawdown (3Y)Largest decline over 3 years | -3.24% | -16.66% | +13.42% |
Max Drawdown (5Y)Largest decline over 5 years | -13.42% | -43.97% | +30.55% |
Max Drawdown (10Y)Largest decline over 10 years | -15.17% | -47.99% | +32.82% |
Current DrawdownCurrent decline from peak | -0.65% | -38.19% | +37.54% |
Average DrawdownAverage peak-to-trough decline | -2.10% | -15.16% | +13.06% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.55% | 3.22% | -2.67% |
Volatility
NFLT vs. UST - Volatility Comparison
The current volatility for Virtus Newfleet Multi-Sector Bond ETF (NFLT) is 1.64%, while ProShares Ultra 7-10 Year Treasury (UST) has a volatility of 3.25%. This indicates that NFLT 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.
Loading charts...
Volatility by Period
| NFLT | UST | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.64% | 3.25% | -1.61% |
Volatility (6M)Calculated over the trailing 6-month period | 3.12% | 6.75% | -3.63% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.20% | 9.35% | -5.15% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.47% | 15.47% | -11.00% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.95% | 13.18% | -8.23% |
NFLT vs. UST - Expense Ratio Comparison
NFLT has a 0.50% expense ratio, which is lower than UST's 0.95% expense ratio.
Dividends
NFLT vs. UST - Dividend Comparison
NFLT's dividend yield for the trailing twelve months is around 5.48%, more than UST's 3.48% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
NFLT Virtus Newfleet Multi-Sector Bond ETF | 5.48% | 5.74% | 5.76% | 6.02% | 4.16% | 3.41% | 3.63% | 4.33% | 4.81% | 6.23% | 5.30% | 0.67% |
UST ProShares Ultra 7-10 Year Treasury | 3.48% | 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
NFLT and UST have a correlation of 0.46, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
UST has higher volatility (3.25%) compared to NFLT (1.64%). In terms of maximum drawdown, NFLT dropped -15.17% vs UST's -47.99%.
On 10-year performance, NFLT leads with 4.09% vs -2.25% for UST. On fees, NFLT is cheaper at 0.50% per year. On volatility, NFLT has been the lower-risk option at 1.64%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, NFLT has performed better with a 4.09% return vs -2.25%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
NFLT is cheaper with a 0.50% expense ratio, compared with 0.95% for UST.
NFLT has the higher dividend yield at 5.48%, compared with 3.48% for UST.
NFLT is categorized as Multisector Bonds, while UST is Leveraged Bonds. They also come from different issuers: Virtus and ProShares. Their fees differ too: 0.50% for NFLT and 0.95% for UST.
NFLT currently has the higher Sharpe Ratio (1.88 vs 0.27), 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.
Find the right allocation for NFLT and UST
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer