TTT vs. GTO
TTT (UltraPro Short 20+ Year Treasury) and GTO (Invesco Total Return 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 GTO is a Intermediate Core-Plus Bond fund actively managed by Invesco. TTT is passively managed, while GTO is actively managed. Over the past 10 years, TTT returned 0.59%/yr vs 2.73%/yr for GTO. At a correlation of -0.78, they often move in opposite directions. TTT charges 0.95%/yr vs 0.35%/yr for GTO.
Performance
TTT vs. GTO - 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 GTO's 0.55% return. Over the past 10 years, TTT has underperformed GTO with an annualized return of 0.59%, while GTO has yielded a comparatively higher 2.73% 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%
GTO
- 1D
- -0.05%
- 1M
- -0.58%
- 6M
- 0.04%
- YTD
- 0.55%
- 1Y
- 5.10%
- 3Y*
- 4.63%
- 5Y*
- -0.19%
- 10Y*
- 2.73%
TTT vs. GTO - 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% |
GTO Invesco Total Return Bond ETF | 0.55% | 7.17% | 2.63% | 5.95% | -14.77% | -0.38% | 10.86% | 11.65% | -0.26% | 7.41% |
Correlation
The correlation between TTT and GTO is -0.87, 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 | -0.87 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.91 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.89 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.80 |
Correlation (All Time) Calculated using the full available price history since Feb 10, 2016 | -0.78 |
The correlation between TTT and GTO shifts across timeframes, from -0.91 (3 years) to -0.78 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
TTT vs. GTO — Risk / Return Rank
TTT
GTO
TTT vs. GTO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for UltraPro Short 20+ Year Treasury (TTT) and Invesco Total Return Bond ETF (GTO). 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 | GTO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.62 | ||
| Sortino ratioReturn per unit of downside risk | -2.17 | ||
| Omega ratioGain probability vs. loss probability | 1.01 | 1.28 | -0.27 |
| Calmar ratioReturn relative to maximum drawdown | -0.13 | 1.88 | -2.00 |
| Martin ratioReturn relative to average drawdown | -0.23 | 5.52 | -5.76 |
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Drawdowns
TTT vs. GTO - Drawdown Comparison
The maximum TTT drawdown since its inception was -94.00%, which is greater than GTO's maximum drawdown of -20.61%. Use the drawdown chart below to compare losses from any high point for TTT and GTO.
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Drawdown Indicators
| TTT | GTO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -94.00% | -20.61% | -73.39% |
Max Drawdown (1Y)Largest decline over 1 year | -21.80% | -2.73% | -19.07% |
Max Drawdown (3Y)Largest decline over 3 years | -49.69% | -5.98% | -43.71% |
Max Drawdown (5Y)Largest decline over 5 years | -49.69% | -20.61% | -29.08% |
Max Drawdown (10Y)Largest decline over 10 years | -81.76% | -20.61% | -61.15% |
Current DrawdownCurrent decline from peak | -77.44% | -1.76% | -75.68% |
Average DrawdownAverage peak-to-trough decline | -70.41% | -4.76% | -65.65% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 12.09% | 0.93% | +11.16% |
Volatility
TTT vs. GTO - Volatility Comparison
UltraPro Short 20+ Year Treasury (TTT) has a higher volatility of 7.56% compared to Invesco Total Return Bond ETF (GTO) at 1.01%. This indicates that TTT's price experiences larger fluctuations and is considered to be riskier than GTO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| TTT | GTO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.56% | 1.01% | +6.55% |
Volatility (6M)Calculated over the trailing 6-month period | 20.24% | 2.67% | +17.57% |
Volatility (1Y)Calculated over the trailing 1-year period | 27.84% | 3.38% | +24.46% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 46.91% | 5.67% | +41.24% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 43.16% | 5.52% | +37.64% |
TTT vs. GTO - Expense Ratio Comparison
TTT has a 0.95% expense ratio, which is higher than GTO's 0.35% expense ratio.
Dividends
TTT vs. GTO - Dividend Comparison
TTT's dividend yield for the trailing twelve months is around 9.01%, more than GTO's 4.83% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
GTO Invesco Total Return Bond ETF | 4.83% | 4.70% | 4.42% | 4.05% | 3.47% | 1.93% | 4.04% | 2.97% | 5.25% | 2.81% | 2.57% |
TTT UltraPro Short 20+ Year Treasury | 9.01% | 9.87% | 4.86% | 12.15% | 0.34% | 0.00% | 0.29% | 1.88% | 0.44% | 0.00% | 0.00% |
Frequently Asked Questions
TTT and GTO have a correlation of -0.87, 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 GTO (1.01%). In terms of maximum drawdown, TTT dropped -94.00% vs GTO's -20.61%.
On 10-year performance, GTO leads with 2.73% vs 0.59% for TTT. On fees, GTO is cheaper at 0.35% per year. On volatility, GTO has been the lower-risk option at 1.01%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, GTO has performed better with a 2.73% return vs 0.59%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
GTO is cheaper with a 0.35% expense ratio, compared with 0.95% for TTT.
TTT has the higher dividend yield at 9.01%, compared with 4.83% for GTO.
TTT is categorized as Leveraged Bonds, while GTO is Intermediate Core-Plus Bond. They also come from different issuers: ProShares and Invesco. Their fees differ too: 0.95% for TTT and 0.35% for GTO.
GTO currently has the higher Sharpe Ratio (1.52 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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