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 -0.85%/yr vs 11.59%/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 0.59% return, which is significantly higher than GLD's -4.79% return. Over the past 10 years, TTT has underperformed GLD with an annualized return of -0.85%, while GLD has yielded a comparatively higher 11.59% annualized return.
TTT
- 1D
- -0.36%
- 1M
- -6.09%
- YTD
- 0.59%
- 6M
- 2.13%
- 1Y
- -4.00%
- 3Y*
- 10.12%
- 5Y*
- 18.57%
- 10Y*
- -0.85%
GLD
- 1D
- -1.89%
- 1M
- -8.82%
- YTD
- -4.79%
- 6M
- -8.78%
- 1Y
- 21.29%
- 3Y*
- 28.41%
- 5Y*
- 17.84%
- 10Y*
- 11.59%
TTT vs. GLD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
TTT UltraPro Short 20+ Year Treasury | 0.59% | -7.89% | 38.07% | -11.25% | 150.17% | 2.55% | -54.12% | -34.88% | 6.34% | -25.87% |
GLD SPDR Gold Shares | -4.79% | 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 -0.14, 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 | -0.14 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.17 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.24 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.30 |
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 -0.30 (10 years) to -0.14 (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 | -0.92 | ||
| Sortino ratioReturn per unit of downside risk | -1.13 | ||
| Omega ratioGain probability vs. loss probability | 1.00 | 1.17 | -0.17 |
| Calmar ratioReturn relative to maximum drawdown | -0.18 | 0.87 | -1.06 |
| Martin ratioReturn relative to average drawdown | -0.34 | 2.35 | -2.69 |
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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 | -22.18% | -24.46% | +2.28% |
Max Drawdown (3Y)Largest decline over 3 years | -49.69% | -24.46% | -25.23% |
Max Drawdown (5Y)Largest decline over 5 years | -49.69% | -24.46% | -25.23% |
Max Drawdown (10Y)Largest decline over 10 years | -81.76% | -24.46% | -57.30% |
Current DrawdownCurrent decline from peak | -78.91% | -23.91% | -55.00% |
Average DrawdownAverage peak-to-trough decline | -70.37% | -16.17% | -54.20% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 11.89% | 9.10% | +2.79% |
Volatility
TTT vs. GLD - Volatility Comparison
The current volatility for UltraPro Short 20+ Year Treasury (TTT) is 6.36%, while SPDR Gold Shares (GLD) has a volatility of 8.18%. This indicates that TTT experiences smaller price fluctuations and is considered to be less risky 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 | 6.36% | 8.18% | -1.82% |
Volatility (6M)Calculated over the trailing 6-month period | 19.77% | 24.38% | -4.61% |
Volatility (1Y)Calculated over the trailing 1-year period | 28.33% | 27.57% | +0.76% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 47.02% | 18.24% | +28.78% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 43.32% | 16.04% | +27.28% |
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 9.61%, 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 | 9.61% | 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 -0.14, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
GLD has higher volatility (8.18%) compared to TTT (6.36%). In terms of maximum drawdown, TTT dropped -94.00% vs GLD's -45.56%.
On 10-year performance, GLD leads with 11.59% vs -0.85% for TTT. On fees, GLD is cheaper at 0.40% per year. On volatility, TTT has been the lower-risk option at 6.36%. 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 11.59% return vs -0.85%. 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 9.61%, 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 (0.78 vs -0.14), 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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