PST vs. TTT
PST (ProShares UltraShort 7-10 Year Treasury) and TTT (UltraPro Short 20+ Year Treasury) are both exchange-traded funds - PST is a Inverse Bonds fund tracking the ICE U.S. Treasury 7-10 Year Bond Index, while TTT is a Leveraged Bonds fund tracking the Barclays Capital U.S. 20+ Year Treasury Index (-300%). Both are passively managed. Over the past 10 years, PST returned 2.73%/yr vs -0.85%/yr for TTT. Their correlation of 0.91 suggests significant overlap in exposure. Both charge a 0.95% expense ratio.
Performance
PST vs. TTT - Performance Comparison
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Returns By Period
In the year-to-date period, PST achieves a 4.69% return, which is significantly higher than TTT's 0.59% return. Over the past 10 years, PST has outperformed TTT with an annualized return of 2.73%, while TTT has yielded a comparatively lower -0.85% annualized return.
PST
- 1D
- -0.27%
- 1M
- -0.60%
- YTD
- 4.69%
- 6M
- 5.06%
- 1Y
- 3.06%
- 3Y*
- 5.23%
- 5Y*
- 9.44%
- 10Y*
- 2.73%
TTT
- 1D
- -0.36%
- 1M
- -6.09%
- YTD
- 0.59%
- 6M
- 2.13%
- 1Y
- -4.00%
- 3Y*
- 10.12%
- 5Y*
- 18.57%
- 10Y*
- -0.85%
PST vs. TTT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PST ProShares UltraShort 7-10 Year Treasury | 4.69% | -4.42% | 12.27% | 3.17% | 38.55% | 4.01% | -18.67% | -11.03% | 1.72% | -4.52% |
TTT UltraPro Short 20+ Year Treasury | 0.59% | -7.89% | 38.07% | -11.25% | 150.17% | 2.55% | -54.12% | -34.88% | 6.34% | -25.87% |
Correlation
The correlation between PST and TTT is 0.89, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.89 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.90 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.90 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.90 |
Correlation (All Time) Calculated using the full available price history since Mar 29, 2012 | 0.91 |
The correlation between PST and TTT has been stable across timeframes, ranging from 0.89 to 0.91 - a consistent structural relationship.
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Return for Risk
PST vs. TTT — Risk / Return Rank
PST
TTT
PST vs. TTT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares UltraShort 7-10 Year Treasury (PST) 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.
| PST | TTT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.47 | ||
| Sortino ratioReturn per unit of downside risk | +0.53 | ||
| Omega ratioGain probability vs. loss probability | 1.06 | 1.00 | +0.06 |
| Calmar ratioReturn relative to maximum drawdown | 0.45 | -0.18 | +0.63 |
| Martin ratioReturn relative to average drawdown | 0.80 | -0.34 | +1.14 |
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Drawdowns
PST vs. TTT - Drawdown Comparison
The maximum PST drawdown since its inception was -79.25%, smaller than the maximum TTT drawdown of -94.00%. Use the drawdown chart below to compare losses from any high point for PST and TTT.
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Drawdown Indicators
| PST | TTT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -79.25% | -94.00% | +14.75% |
Max Drawdown (1Y)Largest decline over 1 year | -6.90% | -22.18% | +15.28% |
Max Drawdown (3Y)Largest decline over 3 years | -16.19% | -49.69% | +33.50% |
Max Drawdown (5Y)Largest decline over 5 years | -16.19% | -49.69% | +33.50% |
Max Drawdown (10Y)Largest decline over 10 years | -36.07% | -81.76% | +45.69% |
Current DrawdownCurrent decline from peak | -64.08% | -78.91% | +14.83% |
Average DrawdownAverage peak-to-trough decline | -61.48% | -70.37% | +8.89% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.83% | 11.89% | -8.06% |
Volatility
PST vs. TTT - Volatility Comparison
The current volatility for ProShares UltraShort 7-10 Year Treasury (PST) is 2.73%, while UltraPro Short 20+ Year Treasury (TTT) has a volatility of 6.36%. This indicates that PST 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
| PST | TTT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.73% | 6.36% | -3.63% |
Volatility (6M)Calculated over the trailing 6-month period | 7.03% | 19.77% | -12.74% |
Volatility (1Y)Calculated over the trailing 1-year period | 9.49% | 28.33% | -18.84% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.59% | 47.02% | -31.43% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 13.30% | 43.32% | -30.02% |
PST vs. TTT - Expense Ratio Comparison
Both PST and TTT have an expense ratio of 0.95%.
Dividends
PST vs. TTT - Dividend Comparison
PST's dividend yield for the trailing twelve months is around 3.08%, less than TTT's 9.61% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
PST ProShares UltraShort 7-10 Year Treasury | 3.08% | 3.47% | 3.61% | 3.69% | 0.02% | 0.00% | 0.11% | 1.85% | 0.66% |
TTT UltraPro Short 20+ Year Treasury | 9.61% | 9.87% | 4.86% | 12.15% | 0.34% | 0.00% | 0.29% | 1.88% | 0.44% |
Frequently Asked Questions
PST and TTT have a correlation of 0.89, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
TTT has higher volatility (6.36%) compared to PST (2.73%). In terms of maximum drawdown, PST dropped -79.25% vs TTT's -94.00%.
On 10-year performance, PST leads with 2.73% vs -0.85% for TTT. Both ETFs have the same 0.95% expense ratio. On volatility, PST has been the lower-risk option at 2.73%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, PST has performed better with a 2.73% return vs -0.85%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
PST and TTT have the same expense ratio: 0.95% per year.
TTT has the higher dividend yield at 9.61%, compared with 3.08% for PST.
PST is categorized as Inverse Bonds, while TTT is Leveraged Bonds. PST tracks ICE U.S. Treasury 7-10 Year Bond Index, while TTT tracks Barclays Capital U.S. 20+ Year Treasury Index (-300%).
PST currently has the higher Sharpe Ratio (0.32 vs -0.14), 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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