TTT vs. BITU

Last updated Aug 2, 2026

TTT (UltraPro Short 20+ Year Treasury) and BITU (Proshares Ultra Bitcoin ETF) are both exchange-traded funds - TTT is a Leveraged Bonds fund tracking the Barclays Capital U.S. 20+ Year Treasury Index (-300%), while BITU is a Cryptocurrency fund tracking the Bloomberg Bitcoin Index - Benchmark TR Gross. Both are passively managed. Over the past year, TTT returned 16.61% vs -78.13% for BITU. Their -0.01 correlation means they have often moved in opposite directions in the past. Both charge a 0.95% expense ratio.

Performance

TTT vs. BITU - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in UltraPro Short 20+ Year Treasury (TTT) and Proshares Ultra Bitcoin ETF (BITU). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, TTT achieves a 16.17% return, which is significantly higher than BITU's -58.54% return.

TTT

• 1D: 2.51%
• 1M: 13.81%
• 6M: 14.99%
• YTD: 16.17%
• 1Y: 16.61%
• 3Y*: 10.12%
• 5Y*: 25.60%
• 10Y*: 1.47%
• ALL TIME*: -8.89%

BITU

• 1D: -5.81%
• 1M: 2.83%
• 6M: -53.44%
• YTD: -58.54%
• 1Y: -78.13%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: -34.77%

*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
BITU Proshares Ultra Bitcoin ETF	$38.79M	$39.32M	$47.38M
TTT UltraPro Short 20+ Year Treasury	$399.02K	$307.25K	$386.76K

TTT vs. BITU - Yearly Performance Comparison

	2026 (YTD)	2025	2024
TTT UltraPro Short 20+ Year Treasury	16.17%	-7.89%	14.58%
BITU Proshares Ultra Bitcoin ETF	-58.54%	-37.07%	41.85%

Correlation

The correlation between TTT and BITU is -0.06, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	-0.06
Correlation (All Time) Calculated using the full available price history since Apr 2, 2024	-0.01

Return for Risk

TTT vs. BITU — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

TTT

TTT Risk / Return Rank: 21
TTT Sharpe Ratio Rank: 21
TTT Sortino Ratio Rank: 22
TTT Omega Ratio Rank: 21
TTT Calmar Ratio Rank: 22
TTT Martin Ratio Rank: 19

BITU

BITU Risk / Return Rank: 1
BITU Sharpe Ratio Rank: 2
BITU Sortino Ratio Rank: 1
BITU Omega Ratio Rank: 1
BITU Calmar Ratio Rank: 1
BITU Martin Ratio Rank: 1

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

TTT vs. BITU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for UltraPro Short 20+ Year Treasury (TTT) and Proshares Ultra Bitcoin ETF (BITU). 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.

	TTT	BITU	Difference
Sharpe ratio: Return per unit of total volatility	0.44	-0.90	+1.34
Sortino ratio: Return per unit of downside risk	0.80	-1.79	+2.59
Omega ratio: Gain probability vs. loss probability	1.09	0.80	+0.29
Calmar ratio: Return relative to maximum drawdown	0.62	-0.96	+1.58
Martin ratio: Return relative to average drawdown	1.24	-1.34	+2.58

TTT vs. BITU - Sharpe Ratio Comparison

The current TTT Sharpe Ratio is 0.44, which is higher than the BITU Sharpe Ratio of -0.90. The chart below compares the historical Sharpe Ratios of TTT and BITU, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

TTT vs. BITU - Drawdown Comparison

The maximum TTT drawdown since its inception was -94.00%, which is greater than BITU's maximum drawdown of -83.45%. Use the drawdown chart below to compare losses from any high point for TTT and BITU.

Drawdown Indicators

	TTT	BITU	Difference
Max Drawdown Largest peak-to-trough decline	-94.00%	-83.45%	-10.55%
Max Drawdown (1Y) Largest decline over 1 year	-19.51%	-83.45%	+63.94%
Max Drawdown (3Y) Largest decline over 3 years	-49.69%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-49.69%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-81.76%	—	—
Current Drawdown Current decline from peak	-75.64%	-81.46%	+5.82%
Average Drawdown Average peak-to-trough decline	-70.43%	-37.61%	-32.82%
Ulcer Index Depth and duration of drawdowns from previous peaks	9.78%	59.30%	-49.52%

Volatility

TTT vs. BITU - Volatility Comparison

The current volatility for UltraPro Short 20+ Year Treasury (TTT) is 7.13%, while Proshares Ultra Bitcoin ETF (BITU) has a volatility of 17.90%. This indicates that TTT experiences smaller price fluctuations and is considered to be less risky than BITU based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TTT	BITU	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.13%	17.90%	-10.77%
Volatility (6M) Calculated over the trailing 6-month period	20.38%	67.92%	-47.54%
Volatility (1Y) Calculated over the trailing 1-year period	27.76%	88.38%	-60.62%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	46.79%	96.07%	-49.28%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	43.16%	96.07%	-52.91%

TTT vs. BITU - Expense Ratio Comparison

Both TTT and BITU have an expense ratio of 0.95%.

Dividends

TTT vs. BITU - Dividend Comparison

TTT's dividend yield for the trailing twelve months is around 8.35%, less than BITU's 93.04% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
BITU Proshares Ultra Bitcoin ETF	82.40%	50.23%	0.12%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
TTT UltraPro Short 20+ Year Treasury	8.35%	9.87%	4.86%	12.15%	0.34%	0.00%	0.29%	1.88%	0.44%

Frequently Asked Questions

Can I hold both TTT and BITU in my portfolio?

TTT and BITU have a correlation of -0.06, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, TTT or BITU?

BITU has higher volatility (17.90%) compared to TTT (7.13%). In terms of maximum drawdown, TTT dropped -94.00% vs BITU's -83.45%.

Which ETF is better, TTT or BITU?

On 1-year performance, TTT leads with 16.61% vs -78.13% for BITU. Both ETFs have the same 0.95% expense ratio. On volatility, TTT has been the lower-risk option at 7.13%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, TTT or BITU?

Over the 1-year period, TTT has performed better with a 16.61% return vs -78.13%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, TTT or BITU?

TTT and BITU have the same expense ratio: 0.95% per year.

Which ETF pays a higher dividend yield, TTT or BITU?

BITU has the higher dividend yield at 82.40%, compared with 8.35% for TTT.

What is the main difference between TTT and BITU?

TTT is categorized as Leveraged Bonds, while BITU is Cryptocurrency. TTT tracks Barclays Capital U.S. 20+ Year Treasury Index (-300%), while BITU tracks Bloomberg Bitcoin Index - Benchmark TR Gross.

Which has better risk-adjusted returns?

TTT currently has the higher Sharpe Ratio (0.44 vs -0.90), 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.