TSYW vs. UBT
TSYW (Roundhill Treasury Bond WeeklyPay ETF) and UBT (ProShares Ultra 20+ Year Treasury) are both Leveraged Bonds funds. TSYW is actively managed, while UBT is passively managed. With a 0.96 correlation, they move nearly in lockstep. TSYW charges 0.99%/yr vs 0.95%/yr for UBT.
Performance
TSYW vs. UBT - Performance Comparison
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Returns By Period
In the year-to-date period, TSYW achieves a -2.14% return, which is significantly higher than UBT's -2.69% return.
TSYW
- 1D
- -0.50%
- 1M
- 0.63%
- YTD
- -2.14%
- 6M
- -4.49%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
UBT
- 1D
- -0.74%
- 1M
- 1.08%
- YTD
- -2.69%
- 6M
- -6.59%
- 1Y
- 4.39%
- 3Y*
- -10.32%
- 5Y*
- -17.99%
- 10Y*
- -8.27%
TSYW vs. UBT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
TSYW Roundhill Treasury Bond WeeklyPay ETF | -2.14% | -2.56% |
UBT ProShares Ultra 20+ Year Treasury | -2.69% | -4.06% |
Correlation
The correlation between TSYW and UBT is 0.96 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Nov 14, 2025 | 0.96 |
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Return for Risk
TSYW vs. UBT — Risk / Return Rank
TSYW
UBT
TSYW vs. UBT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Roundhill Treasury Bond WeeklyPay ETF (TSYW) and ProShares Ultra 20+ Year Treasury (UBT). 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.
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
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Sharpe Ratios by Period
| TSYW | UBT | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | — | 0.23 | — |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | -0.58 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | -0.28 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.78 | 0.02 | -0.80 |
Drawdowns
TSYW vs. UBT - Drawdown Comparison
The maximum TSYW drawdown since its inception was -9.79%, smaller than the maximum UBT drawdown of -78.90%. Use the drawdown chart below to compare losses from any high point for TSYW and UBT.
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Drawdown Indicators
| TSYW | UBT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -9.79% | -78.90% | +69.11% |
Max Drawdown (1Y)Largest decline over 1 year | — | -16.86% | — |
Max Drawdown (3Y)Largest decline over 3 years | — | -36.62% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -72.49% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -78.90% | — |
Current DrawdownCurrent decline from peak | -6.51% | -76.66% | +70.15% |
Average DrawdownAverage peak-to-trough decline | -3.99% | -32.30% | +28.31% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 7.01% | — |
Volatility
TSYW vs. UBT - Volatility Comparison
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Volatility by Period
| TSYW | UBT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 5.41% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 12.78% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 10.78% | 19.41% | -8.63% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 10.78% | 31.33% | -20.55% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 10.78% | 29.31% | -18.53% |
TSYW vs. UBT - Expense Ratio Comparison
TSYW has a 0.99% expense ratio, which is higher than UBT's 0.95% expense ratio.
Dividends
TSYW vs. UBT - Dividend Comparison
TSYW's dividend yield for the trailing twelve months is around 7.44%, more than UBT's 3.99% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
TSYW Roundhill Treasury Bond WeeklyPay ETF | 7.44% | 1.63% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
UBT ProShares Ultra 20+ Year Treasury | 3.99% | 4.26% | 4.50% | 3.54% | 0.30% | 0.00% | 0.26% | 1.50% | 1.55% | 1.37% | 0.75% | 1.56% |
Frequently Asked Questions
With a correlation of 0.96, TSYW and UBT move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
On fees, UBT is cheaper at 0.95% per year. The better choice depends on whether you care most about return, fees, risk, or income.
UBT is cheaper with a 0.95% expense ratio, compared with 0.99% for TSYW.
TSYW has the higher dividend yield at 7.44%, compared with 3.99% for UBT.
They also come from different issuers: Roundhill and ProShares. Their fees differ too: 0.99% for TSYW and 0.95% for UBT.
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