TTT vs. SQQQ
TTT (UltraPro Short 20+ Year Treasury) and SQQQ (ProShares UltraPro Short QQQ) are both exchange-traded funds - TTT is a Leveraged Bonds fund tracking the Barclays Capital U.S. 20+ Year Treasury Index (-300%), while SQQQ is a Leveraged Equities fund tracking the NASDAQ-100 Index (-300%). Both are passively managed. Over the past 10 years, TTT returned 0.71%/yr vs -55.28%/yr for SQQQ. At a correlation of -0.13, they often move in opposite directions. Both charge a 0.95% expense ratio.
Performance
TTT vs. SQQQ - 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 SQQQ's -40.27% return. Over the past 10 years, TTT has outperformed SQQQ with an annualized return of 0.71%, while SQQQ has yielded a comparatively lower -55.28% annualized 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%
SQQQ
- 1D
- 5.74%
- 1M
- 1.37%
- 6M
- -36.57%
- YTD
- -40.27%
- 1Y
- -56.10%
- 3Y*
- -51.78%
- 5Y*
- -45.66%
- 10Y*
- -55.28%
TTT vs. SQQQ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
TTT UltraPro Short 20+ Year Treasury | 8.27% | -7.89% | 38.07% | -11.25% | 150.17% | 2.55% | -54.12% | -34.88% | 6.34% | -25.87% |
SQQQ ProShares UltraPro Short QQQ | -40.27% | -53.05% | -49.79% | -73.61% | 82.40% | -60.87% | -86.40% | -65.92% | -20.83% | -58.67% |
Correlation
The correlation between TTT and SQQQ is 0.15, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.15 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.12 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.06 |
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 SQQQ shifts across timeframes, from -0.13 (all time) to 0.15 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
TTT vs. SQQQ — Risk / Return Rank
TTT
SQQQ
TTT vs. SQQQ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for UltraPro Short 20+ Year Treasury (TTT) and ProShares UltraPro Short QQQ (SQQQ). 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 | SQQQ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.03 | ||
| Sortino ratioReturn per unit of downside risk | +1.91 | ||
| Omega ratioGain probability vs. loss probability | 1.03 | 0.82 | +0.21 |
| Calmar ratioReturn relative to maximum drawdown | 0.02 | -0.92 | +0.94 |
| Martin ratioReturn relative to average drawdown | 0.04 | -1.71 | +1.75 |
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Drawdowns
TTT vs. SQQQ - Drawdown Comparison
The maximum TTT drawdown since its inception was -94.00%, smaller than the maximum SQQQ drawdown of -100.00%. Use the drawdown chart below to compare losses from any high point for TTT and SQQQ.
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Drawdown Indicators
| TTT | SQQQ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -94.00% | -100.00% | +6.00% |
Max Drawdown (1Y)Largest decline over 1 year | -22.18% | -61.03% | +38.85% |
Max Drawdown (3Y)Largest decline over 3 years | -49.69% | -92.51% | +42.82% |
Max Drawdown (5Y)Largest decline over 5 years | -49.69% | -97.27% | +47.58% |
Max Drawdown (10Y)Largest decline over 10 years | -81.76% | -99.97% | +18.21% |
Current DrawdownCurrent decline from peak | -77.29% | -100.00% | +22.71% |
Average DrawdownAverage peak-to-trough decline | -70.40% | -92.75% | +22.35% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 12.12% | 32.78% | -20.66% |
Volatility
TTT vs. SQQQ - Volatility Comparison
The current volatility for UltraPro Short 20+ Year Treasury (TTT) is 8.57%, while ProShares UltraPro Short QQQ (SQQQ) has a volatility of 26.05%. This indicates that TTT experiences smaller price fluctuations and is considered to be less risky than SQQQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| TTT | SQQQ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.57% | 26.05% | -17.48% |
Volatility (6M)Calculated over the trailing 6-month period | 20.35% | 45.88% | -25.53% |
Volatility (1Y)Calculated over the trailing 1-year period | 27.99% | 55.64% | -27.65% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 46.97% | 67.87% | -20.90% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 43.18% | 66.56% | -23.38% |
TTT vs. SQQQ - Expense Ratio Comparison
Both TTT and SQQQ have an expense ratio of 0.95%.
Dividends
TTT vs. SQQQ - Dividend Comparison
TTT's dividend yield for the trailing twelve months is around 8.96%, less than SQQQ's 10.00% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
SQQQ ProShares UltraPro Short QQQ | 10.00% | 9.36% | 10.23% | 8.01% | 0.28% | 0.00% | 2.15% | 2.92% | 1.47% | 0.14% |
TTT UltraPro Short 20+ Year Treasury | 8.96% | 9.87% | 4.86% | 12.15% | 0.34% | 0.00% | 0.29% | 1.88% | 0.44% | 0.00% |
Frequently Asked Questions
TTT and SQQQ have a correlation of 0.15, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SQQQ has higher volatility (26.05%) compared to TTT (8.57%). In terms of maximum drawdown, TTT dropped -94.00% vs SQQQ's -100.00%.
On 10-year performance, TTT leads with 0.71% vs -55.28% for SQQQ. Both ETFs have the same 0.95% expense ratio. 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 10-year period, TTT has performed better with a 0.71% return vs -55.28%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
TTT and SQQQ have the same expense ratio: 0.95% per year.
SQQQ has the higher dividend yield at 10.00%, compared with 8.96% for TTT.
TTT is categorized as Leveraged Bonds, while SQQQ is Leveraged Equities. TTT tracks Barclays Capital U.S. 20+ Year Treasury Index (-300%), while SQQQ tracks NASDAQ-100 Index (-300%).
TTT currently has the higher Sharpe Ratio (0.02 vs -1.01), 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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