TTT vs. PFIX
TTT (UltraPro Short 20+ Year Treasury) and PFIX (Simplify Interest Rate Hedge ETF) are both exchange-traded funds - TTT is a Leveraged Bonds fund tracking the Barclays Capital U.S. 20+ Year Treasury Index (-300%), while PFIX is a Hedge Fund fund actively managed by Simplify. TTT is passively managed, while PFIX is actively managed. Over the past 5 years, TTT returned 22.32%/yr vs 20.64%/yr for PFIX. Their correlation of 0.85 suggests significant overlap in exposure. TTT charges 0.95%/yr vs 0.50%/yr for PFIX.
Performance
TTT vs. PFIX - Performance Comparison
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Returns By Period
In the year-to-date period, TTT achieves a 8.27% return, which is significantly higher than PFIX's -0.95% return.
TTT
- 1D
- 1.71%
- 1M
- 5.70%
- 6M
- 9.78%
- YTD
- 8.27%
- 1Y
- 0.44%
- 3Y*
- 10.81%
- 5Y*
- 22.32%
- 10Y*
- 0.71%
PFIX
- 1D
- 0.47%
- 1M
- 3.10%
- 6M
- 0.73%
- YTD
- -0.95%
- 1Y
- -9.65%
- 3Y*
- 16.45%
- 5Y*
- 20.64%
- 10Y*
- —
TTT vs. PFIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
TTT UltraPro Short 20+ Year Treasury | 8.27% | -7.89% | 38.07% | -11.25% | 150.17% | -27.81% |
PFIX Simplify Interest Rate Hedge ETF | -0.95% | 0.42% | 35.94% | 5.67% | 92.05% | -24.98% |
Correlation
The correlation between TTT and PFIX is 0.78, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.78 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.88 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.86 |
Correlation (All Time) Calculated using the full available price history since May 11, 2021 | 0.85 |
The correlation between TTT and PFIX has been stable across timeframes, ranging from 0.78 to 0.88 - a consistent structural relationship.
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Return for Risk
TTT vs. PFIX — Risk / Return Rank
TTT
PFIX
TTT vs. PFIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for UltraPro Short 20+ Year Treasury (TTT) and Simplify Interest Rate Hedge ETF (PFIX). 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 | PFIX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.35 | ||
| Sortino ratioReturn per unit of downside risk | +0.52 | ||
| Omega ratioGain probability vs. loss probability | 1.03 | 0.97 | +0.06 |
| Calmar ratioReturn relative to maximum drawdown | 0.02 | -0.38 | +0.40 |
| Martin ratioReturn relative to average drawdown | 0.04 | -0.56 | +0.60 |
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Drawdowns
TTT vs. PFIX - Drawdown Comparison
The maximum TTT drawdown since its inception was -94.00%, which is greater than PFIX's maximum drawdown of -36.17%. Use the drawdown chart below to compare losses from any high point for TTT and PFIX.
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Drawdown Indicators
| TTT | PFIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -94.00% | -36.17% | -57.83% |
Max Drawdown (1Y)Largest decline over 1 year | -22.18% | -25.64% | +3.46% |
Max Drawdown (3Y)Largest decline over 3 years | -49.69% | -36.17% | -13.52% |
Max Drawdown (5Y)Largest decline over 5 years | -49.69% | -36.17% | -13.52% |
Max Drawdown (10Y)Largest decline over 10 years | -81.76% | — | — |
Current DrawdownCurrent decline from peak | -77.29% | -18.33% | -58.96% |
Average DrawdownAverage peak-to-trough decline | -70.40% | -17.21% | -53.19% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 12.12% | 17.30% | -5.18% |
Volatility
TTT vs. PFIX - Volatility Comparison
The current volatility for UltraPro Short 20+ Year Treasury (TTT) is 8.57%, while Simplify Interest Rate Hedge ETF (PFIX) has a volatility of 9.44%. This indicates that TTT experiences smaller price fluctuations and is considered to be less risky than PFIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| TTT | PFIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.57% | 9.44% | -0.87% |
Volatility (6M)Calculated over the trailing 6-month period | 20.35% | 22.16% | -1.81% |
Volatility (1Y)Calculated over the trailing 1-year period | 27.99% | 29.34% | -1.35% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 46.97% | 38.55% | +8.42% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 43.18% | 38.20% | +4.98% |
TTT vs. PFIX - Expense Ratio Comparison
TTT has a 0.95% expense ratio, which is higher than PFIX's 0.50% expense ratio.
Dividends
TTT vs. PFIX - Dividend Comparison
TTT's dividend yield for the trailing twelve months is around 8.96%, less than PFIX's 9.78% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
PFIX Simplify Interest Rate Hedge ETF | 9.78% | 9.92% | 3.40% | 87.92% | 0.63% | 0.00% | 0.00% | 0.00% | 0.00% |
TTT UltraPro Short 20+ Year Treasury | 8.96% | 9.87% | 4.86% | 12.15% | 0.34% | 0.00% | 0.29% | 1.88% | 0.44% |
Frequently Asked Questions
TTT and PFIX have a correlation of 0.78, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PFIX has higher volatility (9.44%) compared to TTT (8.57%). In terms of maximum drawdown, TTT dropped -94.00% vs PFIX's -36.17%.
On 5-year performance, TTT leads with 22.32% vs 20.64% for PFIX. On fees, PFIX is cheaper at 0.50% per year. On volatility, TTT has been the lower-risk option at 8.57%. 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 22.32% return vs 20.64%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
PFIX is cheaper with a 0.50% expense ratio, compared with 0.95% for TTT.
PFIX has the higher dividend yield at 9.78%, compared with 8.96% for TTT.
TTT is categorized as Leveraged Bonds, while PFIX is Hedge Fund. They also come from different issuers: ProShares and Simplify. Their fees differ too: 0.95% for TTT and 0.50% for PFIX.
TTT currently has the higher Sharpe Ratio (0.02 vs -0.33), 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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