PFFL vs. TTT
PFFL (ETRACS Monthly Pay 2xLeveraged Preferred Stock ETN) and TTT (UltraPro Short 20+ Year Treasury) are both Leveraged Bonds funds - PFFL tracks the Solactive Preferred Stock ETF Index while TTT tracks the Barclays Capital U.S. 20+ Year Treasury Index (-300%). Both are passively managed. Over the past 5 years, PFFL returned -6.94%/yr vs 26.13%/yr for TTT. Their -0.23 correlation means they have often moved in opposite directions in the past. PFFL charges 0.85%/yr vs 0.95%/yr for TTT.
Performance
PFFL vs. TTT - Performance Comparison
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Returns By Period
In the year-to-date period, PFFL achieves a -2.41% return, which is significantly lower than TTT's 14.61% return.
PFFL
- 1D
- 1.44%
- 1M
- 0.14%
- 6M
- -5.93%
- YTD
- -2.41%
- 1Y
- -0.58%
- 3Y*
- 3.20%
- 5Y*
- -6.94%
- 10Y*
- —
- ALL TIME*
- -3.94%
TTT
- 1D
- -1.35%
- 1M
- 12.28%
- 6M
- 12.85%
- YTD
- 14.61%
- 1Y
- 15.04%
- 3Y*
- 8.04%
- 5Y*
- 26.13%
- 10Y*
- 1.25%
- ALL TIME*
- -8.97%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $14.02K | $14.94K | $17.61K | |
| $391.40K | $306.17K | $378.20K |
PFFL vs. TTT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
PFFL ETRACS Monthly Pay 2xLeveraged Preferred Stock ETN | -2.41% | 2.18% | 4.77% | 8.65% | -39.15% | 7.52% | -15.47% | 30.21% | -10.77% |
TTT UltraPro Short 20+ Year Treasury | 14.61% | -7.89% | 38.07% | -11.25% | 150.17% | 2.55% | -54.12% | -34.88% | -12.85% |
Correlation
The correlation between PFFL and TTT is -0.30, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.30 |
Correlation (3Y) Balances recent behavior with more history. | -0.38 |
Correlation (5Y) Shows whether the relationship held over a longer period. | -0.35 |
Correlation (All Time) Calculated using the full available price history since Sep 26, 2018 | -0.23 |
The correlation between PFFL and TTT shifts across timeframes, from -0.38 (3 years) to -0.23 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
PFFL vs. TTT — Risk / Return Rank
PFFL
TTT
PFFL vs. TTT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ETRACS Monthly Pay 2xLeveraged Preferred Stock ETN (PFFL) and UltraPro Short 20+ Year Treasury (TTT). 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.
| PFFL | TTT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.59 | ||
| Sortino ratioReturn per unit of downside risk | -0.90 | ||
| Omega ratioGain probability vs. loss probability | 1.01 | 1.11 | -0.10 |
| Calmar ratioReturn relative to maximum drawdown | -0.05 | 0.77 | -0.82 |
| Martin ratioReturn relative to average drawdown | -0.10 | 1.54 | -1.64 |
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Drawdowns
PFFL vs. TTT - Drawdown Comparison
The maximum PFFL drawdown since its inception was -80.68%, smaller than the maximum TTT drawdown of -94.00%. Use the drawdown chart below to compare losses from any high point for PFFL and TTT.
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Drawdown Indicators
| PFFL | TTT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -80.68% | -94.00% | +13.32% |
Max Drawdown (1Y)Largest decline over 1 year | -11.92% | -19.51% | +7.59% |
Max Drawdown (3Y)Largest decline over 3 years | -23.75% | -49.69% | +25.94% |
Max Drawdown (5Y)Largest decline over 5 years | -48.51% | -49.69% | +1.18% |
Max Drawdown (10Y)Largest decline over 10 years | — | -81.76% | — |
Current DrawdownCurrent decline from peak | -39.88% | -75.96% | +36.08% |
Average DrawdownAverage peak-to-trough decline | -28.76% | -70.43% | +41.67% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.08% | 9.76% | -3.68% |
Volatility
PFFL vs. TTT - Volatility Comparison
The current volatility for ETRACS Monthly Pay 2xLeveraged Preferred Stock ETN (PFFL) is 4.68%, while UltraPro Short 20+ Year Treasury (TTT) has a volatility of 7.37%. This indicates that PFFL experiences smaller price fluctuations and is considered to be less risky than TTT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PFFL | TTT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.68% | 7.37% | -2.69% |
Volatility (6M)Calculated over the trailing 6-month period | 11.38% | 20.34% | -8.96% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.72% | 27.56% | -11.84% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 23.74% | 46.79% | -23.05% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 54.80% | 43.17% | +11.63% |
PFFL vs. TTT - Expense Ratio Comparison
PFFL has a 0.85% expense ratio, which is lower than TTT's 0.95% expense ratio.
Dividends
PFFL vs. TTT - Dividend Comparison
PFFL's dividend yield for the trailing twelve months is around 12.61%, more than TTT's 8.46% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
PFFL ETRACS Monthly Pay 2xLeveraged Preferred Stock ETN | 12.61% | 13.27% | 13.76% | 13.71% | 13.90% | 8.82% | 9.75% | 11.21% | 2.02% |
TTT UltraPro Short 20+ Year Treasury | 8.46% | 9.87% | 4.86% | 12.15% | 0.34% | 0.00% | 0.29% | 1.88% | 0.44% |
Frequently Asked Questions
PFFL and TTT have a correlation of -0.30, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
TTT has higher volatility (7.37%) compared to PFFL (4.68%). In terms of maximum drawdown, PFFL dropped -80.68% vs TTT's -94.00%.
On 5-year performance, TTT leads with 26.13% vs -6.94% for PFFL. On fees, PFFL is cheaper at 0.85% per year. On volatility, PFFL has been the lower-risk option at 4.68%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, TTT has performed better with a 26.13% return vs -6.94%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
PFFL is cheaper with a 0.85% expense ratio, compared with 0.95% for TTT.
PFFL has the higher dividend yield at 12.61%, compared with 8.46% for TTT.
PFFL tracks Solactive Preferred Stock ETF Index, while TTT tracks Barclays Capital U.S. 20+ Year Treasury Index (-300%). They also come from different issuers: UBS and ProShares. Their fees differ too: 0.85% for PFFL and 0.95% for TTT.
TTT currently has the higher Sharpe Ratio (0.55 vs -0.04), 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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