TTT vs. GLD
TTT (UltraPro Short 20+ Year Treasury) and GLD (SPDR Gold Shares) are both exchange-traded funds - TTT is a Leveraged Bonds fund tracking the Barclays Capital U.S. 20+ Year Treasury Index (-300%), while GLD is a Gold fund tracking the LBMA Gold Price PM. Both are passively managed. Over the past 10 years, TTT returned 0.59%/yr vs 11.13%/yr for GLD. At a correlation of -0.26, they often move in opposite directions. TTT charges 0.95%/yr vs 0.40%/yr for GLD.
Performance
TTT vs. GLD - Performance Comparison
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Returns By Period
In the year-to-date period, TTT achieves a 7.59% return, which is significantly higher than GLD's -7.91% return. Over the past 10 years, TTT has underperformed GLD with an annualized return of 0.59%, while GLD has yielded a comparatively higher 11.13% annualized return.
TTT
- 1D
- 0.27%
- 1M
- 7.04%
- 6M
- 11.68%
- YTD
- 7.59%
- 1Y
- -2.74%
- 3Y*
- 10.58%
- 5Y*
- 22.85%
- 10Y*
- 0.59%
GLD
- 1D
- -1.98%
- 1M
- -8.22%
- 6M
- -13.79%
- YTD
- -7.91%
- 1Y
- 18.39%
- 3Y*
- 26.20%
- 5Y*
- 16.59%
- 10Y*
- 11.13%
TTT vs. GLD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
TTT UltraPro Short 20+ Year Treasury | 7.59% | -7.89% | 38.07% | -11.25% | 150.17% | 2.55% | -54.12% | -34.88% | 6.34% | -25.87% |
GLD SPDR Gold Shares | -7.91% | 63.68% | 26.66% | 12.69% | -0.77% | -4.15% | 24.81% | 17.86% | -1.94% | 12.81% |
Correlation
The correlation between TTT and GLD is -0.13, 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 | -0.13 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.16 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.24 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.29 |
Correlation (All Time) Calculated using the full available price history since Mar 29, 2012 | -0.26 |
The correlation between TTT and GLD shifts across timeframes, from -0.29 (10 years) to -0.13 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
TTT vs. GLD — Risk / Return Rank
TTT
GLD
TTT vs. GLD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for UltraPro Short 20+ Year Treasury (TTT) and SPDR Gold Shares (GLD). 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 | GLD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.76 | ||
| Sortino ratioReturn per unit of downside risk | -0.94 | ||
| Omega ratioGain probability vs. loss probability | 1.01 | 1.14 | -0.14 |
| Calmar ratioReturn relative to maximum drawdown | -0.13 | 0.70 | -0.83 |
| Martin ratioReturn relative to average drawdown | -0.23 | 1.67 | -1.90 |
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Drawdowns
TTT vs. GLD - Drawdown Comparison
The maximum TTT drawdown since its inception was -94.00%, which is greater than GLD's maximum drawdown of -45.56%. Use the drawdown chart below to compare losses from any high point for TTT and GLD.
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Drawdown Indicators
| TTT | GLD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -94.00% | -45.56% | -48.44% |
Max Drawdown (1Y)Largest decline over 1 year | -21.80% | -26.40% | +4.60% |
Max Drawdown (3Y)Largest decline over 3 years | -49.69% | -26.40% | -23.29% |
Max Drawdown (5Y)Largest decline over 5 years | -49.69% | -26.40% | -23.29% |
Max Drawdown (10Y)Largest decline over 10 years | -81.76% | -26.40% | -55.36% |
Current DrawdownCurrent decline from peak | -77.44% | -26.40% | -51.04% |
Average DrawdownAverage peak-to-trough decline | -70.41% | -16.19% | -54.22% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 12.09% | 11.04% | +1.05% |
Volatility
TTT vs. GLD - Volatility Comparison
UltraPro Short 20+ Year Treasury (TTT) has a higher volatility of 7.56% compared to SPDR Gold Shares (GLD) at 6.59%. This indicates that TTT's price experiences larger fluctuations and is considered to be riskier than GLD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| TTT | GLD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.56% | 6.59% | +0.97% |
Volatility (6M)Calculated over the trailing 6-month period | 20.24% | 24.21% | -3.97% |
Volatility (1Y)Calculated over the trailing 1-year period | 27.84% | 28.00% | -0.16% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 46.91% | 18.41% | +28.50% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 43.16% | 16.11% | +27.05% |
TTT vs. GLD - Expense Ratio Comparison
TTT has a 0.95% expense ratio, which is higher than GLD's 0.40% expense ratio.
Dividends
TTT vs. GLD - Dividend Comparison
TTT's dividend yield for the trailing twelve months is around 9.01%, while GLD has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
GLD SPDR Gold Shares | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
TTT UltraPro Short 20+ Year Treasury | 9.01% | 9.87% | 4.86% | 12.15% | 0.34% | 0.00% | 0.29% | 1.88% | 0.44% |
Frequently Asked Questions
TTT and GLD have a correlation of -0.13, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
TTT has higher volatility (7.56%) compared to GLD (6.59%). In terms of maximum drawdown, TTT dropped -94.00% vs GLD's -45.56%.
On 10-year performance, GLD leads with 11.13% vs 0.59% for TTT. On fees, GLD is cheaper at 0.40% per year. On volatility, GLD has been the lower-risk option at 6.59%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, GLD has performed better with a 11.13% return vs 0.59%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
GLD is cheaper with a 0.40% expense ratio, compared with 0.95% for TTT.
TTT has the higher dividend yield at 9.01%, compared with 0.00% for GLD.
TTT is categorized as Leveraged Bonds, while GLD is Gold. TTT tracks Barclays Capital U.S. 20+ Year Treasury Index (-300%), while GLD tracks LBMA Gold Price PM. They also come from different issuers: ProShares and State Street. Their fees differ too: 0.95% for TTT and 0.40% for GLD.
GLD currently has the higher Sharpe Ratio (0.66 vs -0.10), 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.
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