TBF vs. TTT
Compare and contrast key facts about ProShares Short 20+ Year Treasury (TBF) and UltraPro Short 20+ Year Treasury (TTT).
TBF and TTT are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. TBF is a passively managed fund by ProShares that tracks the performance of the U.S. Treasury 20+ Year Index (-100%). It was launched on Aug 20, 2009. TTT is a passively managed fund by ProShares that tracks the performance of the Barclays Capital U.S. 20+ Year Treasury Index (-300%). It was launched on Mar 27, 2012. Both TBF and TTT are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: TBF or TTT.
Key characteristics
| TBF | TTT | |
|---|---|---|
| YTD Return | 10.05% | 17.55% |
| 1Y Return | -1.94% | -16.56% |
| 3Y Return (Ann) | 16.60% | 37.53% |
| 5Y Return (Ann) | 5.67% | 4.93% |
| 10Y Return (Ann) | -0.15% | -8.29% |
| Sharpe Ratio | -0.17 | -0.41 |
| Sortino Ratio | -0.14 | -0.32 |
| Omega Ratio | 0.98 | 0.96 |
| Calmar Ratio | -0.05 | -0.21 |
| Martin Ratio | -0.38 | -0.86 |
| Ulcer Index | 6.74% | 20.93% |
| Daily Std Dev | 14.87% | 44.23% |
| Max Drawdown | -70.40% | -94.00% |
| Current Drawdown | -48.35% | -79.97% |
Correlation
The correlation between TBF and TTT is 0.99, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Performance
TBF vs. TTT - Performance Comparison
In the year-to-date period, TBF achieves a 10.05% return, which is significantly lower than TTT's 17.55% return. Over the past 10 years, TBF has outperformed TTT with an annualized return of -0.15%, while TTT has yielded a comparatively lower -8.29% annualized return. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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TBF vs. TTT - Expense Ratio Comparison
TBF has a 0.94% expense ratio, which is lower than TTT's 0.95% expense ratio.
Risk-Adjusted Performance
TBF vs. TTT - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares Short 20+ Year Treasury (TBF) 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.
Dividends
TBF vs. TTT - Dividend Comparison
TBF's dividend yield for the trailing twelve months is around 4.83%, less than TTT's 12.74% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|
TBF ProShares Short 20+ Year Treasury | 4.83% | 4.99% | 0.36% | 0.00% | 0.22% | 1.68% | 0.88% |
TTT UltraPro Short 20+ Year Treasury | 12.74% | 15.40% | 0.34% | 0.00% | 0.29% | 1.88% | 0.44% |
Drawdowns
TBF vs. TTT - Drawdown Comparison
The maximum TBF drawdown since its inception was -70.40%, smaller than the maximum TTT drawdown of -94.00%. Use the drawdown chart below to compare losses from any high point for TBF and TTT. For additional features, visit the drawdowns tool.
Volatility
TBF vs. TTT - Volatility Comparison
The current volatility for ProShares Short 20+ Year Treasury (TBF) is 4.95%, while UltraPro Short 20+ Year Treasury (TTT) has a volatility of 14.79%. This indicates that TBF 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.