TTT vs. PFFL
TTT (UltraPro Short 20+ Year Treasury) and PFFL (ETRACS Monthly Pay 2xLeveraged Preferred Stock ETN) are both Leveraged Bonds funds - TTT tracks the Barclays Capital U.S. 20+ Year Treasury Index (-300%) while PFFL tracks the Solactive Preferred Stock ETF Index. Both are passively managed. Over the past 5 years, TTT returned 25.60%/yr vs -7.13%/yr for PFFL. Their -0.23 correlation means they have often moved in opposite directions in the past. TTT charges 0.95%/yr vs 0.85%/yr for PFFL.
Performance
TTT vs. PFFL - Performance Comparison
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Returns By Period
In the year-to-date period, TTT achieves a 16.17% return, which is significantly higher than PFFL's -3.79% return.
TTT
- 1D
- 2.51%
- 1M
- 13.81%
- 6M
- 14.99%
- YTD
- 16.17%
- 1Y
- 16.61%
- 3Y*
- 10.12%
- 5Y*
- 25.60%
- 10Y*
- 1.47%
- ALL TIME*
- -8.89%
PFFL
- 1D
- -0.02%
- 1M
- -1.28%
- 6M
- -7.26%
- YTD
- -3.79%
- 1Y
- -1.99%
- 3Y*
- 2.35%
- 5Y*
- -7.13%
- 10Y*
- —
- ALL TIME*
- -4.12%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $16.66K | $15.21K | $17.72K | |
| $399.02K | $307.25K | $386.76K |
TTT vs. PFFL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
TTT UltraPro Short 20+ Year Treasury | 16.17% | -7.89% | 38.07% | -11.25% | 150.17% | 2.55% | -54.12% | -34.88% | -12.85% |
PFFL ETRACS Monthly Pay 2xLeveraged Preferred Stock ETN | -3.79% | 2.18% | 4.77% | 8.65% | -39.15% | 7.52% | -15.47% | 30.21% | -10.77% |
Correlation
The correlation between TTT and PFFL is -0.29, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.29 |
Correlation (3Y) Balances recent behavior with more history. | -0.38 |
Correlation (5Y) Shows whether the relationship held over a longer period. | -0.35 |
Correlation (All Time) Calculated using the full available price history since Sep 26, 2018 | -0.23 |
The correlation between TTT and PFFL shifts across timeframes, from -0.38 (3 years) to -0.23 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
TTT vs. PFFL — Risk / Return Rank
TTT
PFFL
TTT vs. PFFL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for UltraPro Short 20+ Year Treasury (TTT) and ETRACS Monthly Pay 2xLeveraged Preferred Stock ETN (PFFL). 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 | PFFL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.60 | ||
| Sortino ratioReturn per unit of downside risk | +0.92 | ||
| Omega ratioGain probability vs. loss probability | 1.09 | 0.99 | +0.11 |
| Calmar ratioReturn relative to maximum drawdown | 0.62 | -0.21 | +0.83 |
| Martin ratioReturn relative to average drawdown | 1.24 | -0.42 | +1.65 |
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Drawdowns
TTT vs. PFFL - Drawdown Comparison
The maximum TTT drawdown since its inception was -94.00%, which is greater than PFFL's maximum drawdown of -80.68%. Use the drawdown chart below to compare losses from any high point for TTT and PFFL.
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Drawdown Indicators
| TTT | PFFL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -94.00% | -80.68% | -13.32% |
Max Drawdown (1Y)Largest decline over 1 year | -19.51% | -11.92% | -7.59% |
Max Drawdown (3Y)Largest decline over 3 years | -49.69% | -23.75% | -25.94% |
Max Drawdown (5Y)Largest decline over 5 years | -49.69% | -48.51% | -1.18% |
Max Drawdown (10Y)Largest decline over 10 years | -81.76% | — | — |
Current DrawdownCurrent decline from peak | -75.64% | -40.73% | -34.91% |
Average DrawdownAverage peak-to-trough decline | -70.43% | -28.75% | -41.68% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 9.78% | 6.05% | +3.73% |
Volatility
TTT vs. PFFL - Volatility Comparison
UltraPro Short 20+ Year Treasury (TTT) has a higher volatility of 7.13% compared to ETRACS Monthly Pay 2xLeveraged Preferred Stock ETN (PFFL) at 4.44%. This indicates that TTT's price experiences larger fluctuations and is considered to be riskier than PFFL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| TTT | PFFL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.13% | 4.44% | +2.69% |
Volatility (6M)Calculated over the trailing 6-month period | 20.38% | 11.28% | +9.10% |
Volatility (1Y)Calculated over the trailing 1-year period | 27.76% | 15.65% | +12.11% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 46.79% | 23.73% | +23.06% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 43.16% | 54.81% | -11.65% |
TTT vs. PFFL - Expense Ratio Comparison
TTT has a 0.95% expense ratio, which is higher than PFFL's 0.85% expense ratio.
Dividends
TTT vs. PFFL - Dividend Comparison
TTT's dividend yield for the trailing twelve months is around 8.35%, less than PFFL's 12.79% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
PFFL ETRACS Monthly Pay 2xLeveraged Preferred Stock ETN | 12.79% | 13.27% | 13.76% | 13.71% | 13.90% | 8.82% | 9.75% | 11.21% | 2.02% |
TTT UltraPro Short 20+ Year Treasury | 8.35% | 9.87% | 4.86% | 12.15% | 0.34% | 0.00% | 0.29% | 1.88% | 0.44% |
Frequently Asked Questions
TTT and PFFL have a correlation of -0.29, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
TTT has higher volatility (7.13%) compared to PFFL (4.44%). In terms of maximum drawdown, TTT dropped -94.00% vs PFFL's -80.68%.
On 5-year performance, TTT leads with 25.60% vs -7.13% for PFFL. On fees, PFFL is cheaper at 0.85% per year. On volatility, PFFL has been the lower-risk option at 4.44%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, TTT has performed better with a 25.60% return vs -7.13%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
PFFL is cheaper with a 0.85% expense ratio, compared with 0.95% for TTT.
PFFL has the higher dividend yield at 12.79%, compared with 8.35% for TTT.
TTT tracks Barclays Capital U.S. 20+ Year Treasury Index (-300%), while PFFL tracks Solactive Preferred Stock ETF Index. They also come from different issuers: ProShares and UBS. Their fees differ too: 0.95% for TTT and 0.85% for PFFL.
TTT currently has the higher Sharpe Ratio (0.44 vs -0.16), 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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