TTT vs. BNDI

Last updated Jun 3, 2026

TTT (UltraPro Short 20+ Year Treasury) and BNDI (Neos Enhanced Income Aggregate Bond ETF) are both exchange-traded funds - TTT is a Leveraged Bonds fund tracking the Barclays Capital U.S. 20+ Year Treasury Index (-300%), while BNDI is a Intermediate Core-Plus Bond fund actively managed by Neos. TTT is passively managed, while BNDI is actively managed. Over the past 3 years, TTT returned 9.61%/yr vs 4.90%/yr for BNDI. At a correlation of -0.89, they often move in opposite directions. TTT charges 0.95%/yr vs 0.58%/yr for BNDI.

Performance

TTT vs. BNDI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in UltraPro Short 20+ Year Treasury (TTT) and Neos Enhanced Income Aggregate Bond ETF (BNDI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, TTT achieves a 2.52% return, which is significantly higher than BNDI's 1.51% return.

TTT

• 1D: -0.75%
• 1M: -0.84%
• YTD: 2.52%
• 6M: 8.18%
• 1Y: -7.12%
• 3Y*: 9.61%
• 5Y*: 16.11%
• 10Y*: -1.30%

BNDI

• 1D: -0.02%
• 1M: 0.22%
• YTD: 1.51%
• 6M: 1.59%
• 1Y: 7.31%
• 3Y*: 4.90%
• 5Y*: —
• 10Y*: —

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

TTT vs. BNDI - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
TTT UltraPro Short 20+ Year Treasury	2.52%	-7.89%	38.07%	-11.25%	32.70%
BNDI Neos Enhanced Income Aggregate Bond ETF	1.51%	7.95%	1.74%	6.89%	-2.60%

Correlation

The correlation between TTT and BNDI is -0.86, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.86
Correlation (3Y) Calculated over the trailing 3-year period	-0.89
Correlation (All Time) Calculated using the full available price history since Aug 31, 2022	-0.89

The correlation between TTT and BNDI has been stable across timeframes, ranging from -0.89 to -0.86 - a consistent structural relationship.

TTT vs. BNDI - Sectors Allocation Comparison

Sectors	TTT	BNDI
Financial Services	62.5%	11.8%
Basic Materials	-	1.8%
Communication Services	-	11.2%
Consumer Cyclical	-	10.1%
Consumer Defensive	-	4.9%
Energy	-	3.5%
Healthcare	-	8.5%
Industrials	-	8.3%
Real Estate	-	1.9%
Technology	-	35.6%
Utilities	-	2.4%

Return for Risk

TTT vs. BNDI — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

TTT

TTT Risk / Return Rank: 6
TTT Sharpe Ratio Rank: 6
TTT Sortino Ratio Rank: 6
TTT Omega Ratio Rank: 6
TTT Calmar Ratio Rank: 7
TTT Martin Ratio Rank: 7

BNDI

BNDI Risk / Return Rank: 52
BNDI Sharpe Ratio Rank: 51
BNDI Sortino Ratio Rank: 55
BNDI Omega Ratio Rank: 51
BNDI Calmar Ratio Rank: 51
BNDI Martin Ratio Rank: 53

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

TTT vs. BNDI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for UltraPro Short 20+ Year Treasury (TTT) and Neos Enhanced Income Aggregate Bond ETF (BNDI). 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.

	TTT	BNDI	Difference
Sharpe ratio Return per unit of total volatility	-0.24	1.76	-2.01
Sortino ratio Return per unit of downside risk	-0.15	2.65	-2.80
Omega ratio Gain probability vs. loss probability	0.98	1.32	-0.34
Calmar ratio Return relative to maximum drawdown	-0.21	2.59	-2.80
Martin ratio Return relative to average drawdown	-0.40	9.27	-9.67
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

TTT vs. BNDI - Sharpe Ratio Comparison

The current TTT Sharpe Ratio is -0.24, which is lower than the BNDI Sharpe Ratio of 1.76. The chart below compares the historical Sharpe Ratios of TTT and BNDI, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	TTT	BNDI	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.24	1.76	-2.01
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.34	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	-0.03	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.23	0.66	-0.89

Drawdowns

TTT vs. BNDI - Drawdown Comparison

The maximum TTT drawdown since its inception was -94.00%, which is greater than BNDI's maximum drawdown of -6.98%. Use the drawdown chart below to compare losses from any high point for TTT and BNDI.

Drawdown Indicators

	TTT	BNDI	Difference
Max Drawdown Largest peak-to-trough decline	-94.00%	-6.98%	-87.02%
Max Drawdown (1Y) Largest decline over 1 year	-22.51%	-2.75%	-19.76%
Max Drawdown (3Y) Largest decline over 3 years	-49.69%	-5.83%	-43.86%
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	-78.50%	-0.63%	-77.87%
Average Drawdown Average peak-to-trough decline	-70.36%	-1.71%	-68.65%
Ulcer Index Depth and duration of drawdowns from previous peaks	12.12%	0.77%	+11.35%

Volatility

TTT vs. BNDI - Volatility Comparison

UltraPro Short 20+ Year Treasury (TTT) has a higher volatility of 8.87% compared to Neos Enhanced Income Aggregate Bond ETF (BNDI) at 1.41%. This indicates that TTT's price experiences larger fluctuations and is considered to be riskier than BNDI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TTT	BNDI	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.87%	1.41%	+7.46%
Volatility (6M) Calculated over the trailing 6-month period	19.79%	3.11%	+16.68%
Volatility (1Y) Calculated over the trailing 1-year period	29.35%	4.17%	+25.18%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	47.18%	6.19%	+40.99%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	43.39%	6.19%	+37.20%

TTT vs. BNDI - Expense Ratio Comparison

TTT has a 0.95% expense ratio, which is higher than BNDI's 0.58% expense ratio.

Dividends

TTT vs. BNDI - Dividend Comparison

TTT's dividend yield for the trailing twelve months is around 9.43%, more than BNDI's 5.79% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
BNDI Neos Enhanced Income Aggregate Bond ETF	5.79%	5.69%	5.54%	5.17%	1.68%	0.00%	0.00%	0.00%	0.00%
TTT UltraPro Short 20+ Year Treasury	9.43%	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 BNDI in my portfolio?

TTT and BNDI have a correlation of -0.86, 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 BNDI?

TTT has higher volatility (8.87%) compared to BNDI (1.41%). In terms of maximum drawdown, TTT dropped -94.00% vs BNDI's -6.98%.

Which ETF is better, TTT or BNDI?

On 3-year performance, TTT leads with 9.61% vs 4.90% for BNDI. On fees, BNDI is cheaper at 0.58% per year. On volatility, BNDI has been the lower-risk option at 1.41%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, TTT or BNDI?

Over the 3-year period, TTT has performed better with a 9.61% return vs 4.90%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, TTT or BNDI?

BNDI is cheaper with a 0.58% expense ratio, compared with 0.95% for TTT.

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

TTT has the higher dividend yield at 9.43%, compared with 5.79% for BNDI.

What is the main difference between TTT and BNDI?

TTT is categorized as Leveraged Bonds, while BNDI is Intermediate Core-Plus Bond. They also come from different issuers: ProShares and Neos. Their fees differ too: 0.95% for TTT and 0.58% for BNDI.

Which has better risk-adjusted returns?

BNDI currently has the higher Sharpe Ratio (1.76 vs -0.24), 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.