TTT vs. CAT

Last updated Jun 3, 2026

TTT (UltraPro Short 20+ Year Treasury) is Leveraged Bonds fund tracking the Barclays Capital U.S. 20+ Year Treasury Index (-300%), while CAT (Caterpillar Inc.) is a stock. Over the past 10 years, TTT returned -1.30%/yr vs 31.29%/yr for CAT. At a 0.22 correlation, their price movements are largely independent.

Performance

TTT vs. CAT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in UltraPro Short 20+ Year Treasury (TTT) and Caterpillar Inc. (CAT). 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 lower than CAT's 59.49% return. Over the past 10 years, TTT has underperformed CAT with an annualized return of -1.30%, while CAT has yielded a comparatively higher 31.29% annualized 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%

CAT

• 1D: 5.14%
• 1M: 2.26%
• YTD: 59.49%
• 6M: 56.86%
• 1Y: 166.82%
• 3Y*: 61.35%
• 5Y*: 32.48%
• 10Y*: 31.29%

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

TTT vs. CAT - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
TTT UltraPro Short 20+ Year Treasury	2.52%	-7.89%	38.07%	-11.25%	150.17%	2.55%	-54.12%	-34.88%	6.34%	-25.87%
CAT Caterpillar Inc.	59.49%	60.30%	24.66%	25.95%	18.60%	15.95%	26.97%	19.51%	-17.56%	75.03%

Correlation

The correlation between TTT and CAT is -0.15, 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	-0.15
Correlation (3Y) Calculated over the trailing 3-year period	-0.09
Correlation (5Y) Calculated over the trailing 5-year period	0.04
Correlation (10Y) Calculated over the trailing 10-year period	0.18
Correlation (All Time) Calculated using the full available price history since Mar 30, 2012	0.22

The correlation between TTT and CAT shifts across timeframes, from -0.15 (1 year) to 0.22 (all time), reflecting how their relationship changes across market environments.

Return for Risk

TTT vs. CAT — 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

CAT

CAT Risk / Return Rank: 98
CAT Sharpe Ratio Rank: 98
CAT Sortino Ratio Rank: 98
CAT Omega Ratio Rank: 97
CAT Calmar Ratio Rank: 98
CAT Martin Ratio Rank: 99

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. CAT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for UltraPro Short 20+ Year Treasury (TTT) and Caterpillar Inc. (CAT). 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	CAT	Difference
Sharpe ratio Return per unit of total volatility	-0.24	4.95	-5.19
Sortino ratio Return per unit of downside risk	-0.15	5.65	-5.80
Omega ratio Gain probability vs. loss probability	0.98	1.72	-0.73
Calmar ratio Return relative to maximum drawdown	-0.21	11.83	-12.05
Martin ratio Return relative to average drawdown	-0.40	39.43	-39.83
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. CAT - Sharpe Ratio Comparison

The current TTT Sharpe Ratio is -0.24, which is lower than the CAT Sharpe Ratio of 4.95. The chart below compares the historical Sharpe Ratios of TTT and CAT, 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	CAT	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.24	4.95	-5.19
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.34	1.07	-0.72
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	-0.03	1.02	-1.05
Sharpe Ratio (All Time) Calculated using the full available price history	-0.23	0.35	-0.59

Drawdowns

TTT vs. CAT - Drawdown Comparison

The maximum TTT drawdown since its inception was -94.00%, which is greater than CAT's maximum drawdown of -73.43%. Use the drawdown chart below to compare losses from any high point for TTT and CAT.

Drawdown Indicators

	TTT	CAT	Difference
Max Drawdown Largest peak-to-trough decline	-94.00%	-73.43%	-20.57%
Max Drawdown (1Y) Largest decline over 1 year	-22.51%	-13.88%	-8.63%
Max Drawdown (3Y) Largest decline over 3 years	-49.69%	-34.05%	-15.64%
Max Drawdown (5Y) Largest decline over 5 years	-49.69%	-34.05%	-15.64%
Max Drawdown (10Y) Largest decline over 10 years	-81.76%	-43.36%	-38.40%
Current Drawdown Current decline from peak	-78.50%	-1.85%	-76.65%
Average Drawdown Average peak-to-trough decline	-70.36%	-19.74%	-50.62%
Ulcer Index Depth and duration of drawdowns from previous peaks	12.12%	4.17%	+7.95%

Volatility

TTT vs. CAT - Volatility Comparison

The current volatility for UltraPro Short 20+ Year Treasury (TTT) is 8.87%, while Caterpillar Inc. (CAT) has a volatility of 11.22%. This indicates that TTT experiences smaller price fluctuations and is considered to be less risky than CAT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TTT	CAT	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.87%	11.22%	-2.35%
Volatility (6M) Calculated over the trailing 6-month period	19.79%	27.11%	-7.32%
Volatility (1Y) Calculated over the trailing 1-year period	29.35%	33.97%	-4.62%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	47.18%	30.61%	+16.57%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	43.39%	30.87%	+12.52%

Dividends

TTT vs. CAT - Dividend Comparison

TTT's dividend yield for the trailing twelve months is around 9.43%, more than CAT's 0.66% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CAT Caterpillar Inc.	0.66%	1.02%	1.49%	1.69%	1.93%	2.07%	2.26%	2.56%	2.58%	1.97%	3.32%	4.33%
TTT UltraPro Short 20+ Year Treasury	9.43%	9.87%	4.86%	12.15%	0.34%	0.00%	0.29%	1.88%	0.44%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both TTT and CAT in my portfolio?

TTT and CAT have a correlation of -0.15, 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 CAT?

CAT has higher volatility (11.22%) compared to TTT (8.87%). In terms of maximum drawdown, TTT dropped -94.00% vs CAT's -73.43%.

Which has better risk-adjusted returns?

CAT currently has the higher Sharpe Ratio (4.95 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.