TTT vs. QLD
TTT (UltraPro Short 20+ Year Treasury) and QLD (ProShares Ultra QQQ) are both exchange-traded funds - TTT is a Leveraged Bonds fund tracking the Barclays Capital U.S. 20+ Year Treasury Index (-300%), while QLD is a Leveraged Equities fund tracking the NASDAQ-100 Index (200%). Both are passively managed. Over the past 10 years, TTT returned -0.85%/yr vs 36.27%/yr for QLD. At a 0.13 correlation, their price movements are largely independent. Both charge a 0.95% expense ratio.
Performance
TTT vs. QLD - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, TTT achieves a 0.59% return, which is significantly lower than QLD's 29.58% return. Over the past 10 years, TTT has underperformed QLD with an annualized return of -0.85%, while QLD has yielded a comparatively higher 36.27% 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%
QLD
- 1D
- -6.61%
- 1M
- -2.02%
- YTD
- 29.58%
- 6M
- 26.13%
- 1Y
- 66.80%
- 3Y*
- 43.61%
- 5Y*
- 21.41%
- 10Y*
- 36.27%
TTT vs. QLD - 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% |
QLD ProShares Ultra QQQ | 29.58% | 30.36% | 42.82% | 117.72% | -60.52% | 54.67% | 88.90% | 81.69% | -8.31% | 70.34% |
Correlation
The correlation between TTT and QLD is -0.16, 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 | -0.16 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.13 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.07 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.04 |
Correlation (All Time) Calculated using the full available price history since Mar 29, 2012 | 0.13 |
The correlation between TTT and QLD shifts across timeframes, from -0.16 (1 year) to 0.13 (all time), reflecting how their relationship changes across market environments.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
TTT vs. QLD — Risk / Return Rank
TTT
QLD
TTT vs. QLD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for UltraPro Short 20+ Year Treasury (TTT) and ProShares Ultra QQQ (QLD). 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 | QLD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.02 | ||
| Sortino ratioReturn per unit of downside risk | -2.34 | ||
| Omega ratioGain probability vs. loss probability | 1.00 | 1.31 | -0.31 |
| Calmar ratioReturn relative to maximum drawdown | -0.18 | 2.67 | -2.85 |
| Martin ratioReturn relative to average drawdown | -0.34 | 9.05 | -9.39 |
Loading charts...
Drawdowns
TTT vs. QLD - Drawdown Comparison
The maximum TTT drawdown since its inception was -94.00%, which is greater than QLD's maximum drawdown of -83.13%. Use the drawdown chart below to compare losses from any high point for TTT and QLD.
Loading charts...
Drawdown Indicators
| TTT | QLD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -94.00% | -83.13% | -10.87% |
Max Drawdown (1Y)Largest decline over 1 year | -22.18% | -25.13% | +2.95% |
Max Drawdown (3Y)Largest decline over 3 years | -49.69% | -42.29% | -7.40% |
Max Drawdown (5Y)Largest decline over 5 years | -49.69% | -63.68% | +13.99% |
Max Drawdown (10Y)Largest decline over 10 years | -81.76% | -63.68% | -18.08% |
Current DrawdownCurrent decline from peak | -78.91% | -9.26% | -69.65% |
Average DrawdownAverage peak-to-trough decline | -70.37% | -18.14% | -52.23% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 11.89% | 7.40% | +4.49% |
Volatility
TTT vs. QLD - Volatility Comparison
The current volatility for UltraPro Short 20+ Year Treasury (TTT) is 6.36%, while ProShares Ultra QQQ (QLD) has a volatility of 18.22%. This indicates that TTT experiences smaller price fluctuations and is considered to be less risky than QLD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| TTT | QLD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.36% | 18.22% | -11.86% |
Volatility (6M)Calculated over the trailing 6-month period | 19.77% | 28.95% | -9.18% |
Volatility (1Y)Calculated over the trailing 1-year period | 28.33% | 35.77% | -7.44% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 47.02% | 45.34% | +1.68% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 43.32% | 44.80% | -1.48% |
TTT vs. QLD - Expense Ratio Comparison
Both TTT and QLD have an expense ratio of 0.95%.
Dividends
TTT vs. QLD - Dividend Comparison
TTT's dividend yield for the trailing twelve months is around 9.61%, more than QLD's 0.13% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
QLD ProShares Ultra QQQ | 0.13% | 0.17% | 0.25% | 0.33% | 0.31% | 0.00% | 0.00% | 0.13% | 0.06% | 0.02% | 0.21% | 0.11% |
TTT UltraPro Short 20+ Year Treasury | 9.61% | 9.87% | 4.86% | 12.15% | 0.34% | 0.00% | 0.29% | 1.88% | 0.44% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
TTT and QLD have a correlation of -0.16, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
QLD has higher volatility (18.22%) compared to TTT (6.36%). In terms of maximum drawdown, TTT dropped -94.00% vs QLD's -83.13%.
On 10-year performance, QLD leads with 36.27% vs -0.85% for TTT. Both ETFs have the same 0.95% expense ratio. 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, QLD has performed better with a 36.27% return vs -0.85%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
TTT and QLD have the same expense ratio: 0.95% per year.
TTT has the higher dividend yield at 9.61%, compared with 0.13% for QLD.
TTT is categorized as Leveraged Bonds, while QLD is Leveraged Equities. TTT tracks Barclays Capital U.S. 20+ Year Treasury Index (-300%), while QLD tracks NASDAQ-100 Index (200%).
QLD currently has the higher Sharpe Ratio (1.88 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.
Find the right allocation for TTT and QLD
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer