TTT vs. SQQQ

Last updated Jun 3, 2026

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 -1.30%/yr vs -56.04%/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

The chart below illustrates the hypothetical performance of a $10,000 investment in UltraPro Short 20+ Year Treasury (TTT) and ProShares UltraPro Short QQQ (SQQQ). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, TTT achieves a 2.52% return, which is significantly higher than SQQQ's -45.68% return. Over the past 10 years, TTT has outperformed SQQQ with an annualized return of -1.30%, while SQQQ has yielded a comparatively lower -56.04% annualized return.

TTT

• 1D: -0.75%
• 1M: -0.84%
• YTD: 2.52%
• 6M: 8.18%
• 1Y: -7.12%
• 3Y*: 9.61%
• 5Y*: 16.11%
• 10Y*: -1.30%

SQQQ

• 1D: -1.36%
• 1M: -26.50%
• YTD: -45.68%
• 6M: -43.61%
• 1Y: -66.23%
• 3Y*: -56.30%
• 5Y*: -49.79%
• 10Y*: -56.04%

*Multi-year figures are annualized to reflect compound growth (CAGR)

TTT vs. SQQQ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
TTT UltraPro Short 20+ Year Treasury	2.52%	-7.89%	38.07%	-11.25%	150.17%	2.55%	-54.12%	-34.88%	6.34%	-25.87%
SQQQ ProShares UltraPro Short QQQ	-45.68%	-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 0.14, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.14
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 30, 2012	-0.13

The correlation between TTT and SQQQ shifts across timeframes, from -0.13 (all time) to 0.14 (1 year), reflecting how their relationship changes across market environments.

TTT vs. SQQQ - Sectors Allocation Comparison

Sectors	TTT	SQQQ
Financial Services	62.5%	97.1%
Basic Materials	-	-
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Energy	-	-
Healthcare	-	-
Industrials	-	-
Real Estate	-	-
Technology	-	-
Utilities	-	-

Return for Risk

TTT vs. SQQQ — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

TTT

TTT Risk / Return Rank: 6
TTT Sharpe Ratio Rank: 6
TTT Sortino Ratio Rank: 6
TTT Omega Ratio Rank: 6
TTT Calmar Ratio Rank: 7
TTT Martin Ratio Rank: 7

SQQQ

SQQQ Risk / Return Rank: 0
SQQQ Sharpe Ratio Rank: 0
SQQQ Sortino Ratio Rank: 0
SQQQ Omega Ratio Rank: 0
SQQQ Calmar Ratio Rank: 0
SQQQ Martin Ratio Rank: 0

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

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.

	TTT	SQQQ	Difference
Sharpe ratio Return per unit of total volatility	-0.24	-1.39	+1.14
Sortino ratio Return per unit of downside risk	-0.15	-2.71	+2.56
Omega ratio Gain probability vs. loss probability	0.98	0.72	+0.27
Calmar ratio Return relative to maximum drawdown	-0.21	-1.01	+0.80
Martin ratio Return relative to average drawdown	-0.40	-1.86	+1.47
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

TTT vs. SQQQ - Sharpe Ratio Comparison

The current TTT Sharpe Ratio is -0.24, which is higher than the SQQQ Sharpe Ratio of -1.39. The chart below compares the historical Sharpe Ratios of TTT and SQQQ, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	TTT	SQQQ	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.24	-1.39	+1.14
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.34	-0.75	+1.09
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	-0.03	-0.85	+0.82
Sharpe Ratio (All Time) Calculated using the full available price history	-0.23	-0.88	+0.64

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.

Drawdown Indicators

	TTT	SQQQ	Difference
Max Drawdown Largest peak-to-trough decline	-94.00%	-100.00%	+6.00%
Max Drawdown (1Y) Largest decline over 1 year	-22.51%	-65.95%	+43.44%
Max Drawdown (3Y) Largest decline over 3 years	-49.69%	-92.38%	+42.69%
Max Drawdown (5Y) Largest decline over 5 years	-49.69%	-97.23%	+47.54%
Max Drawdown (10Y) Largest decline over 10 years	-81.76%	-99.98%	+18.22%
Current Drawdown Current decline from peak	-78.50%	-100.00%	+21.50%
Average Drawdown Average peak-to-trough decline	-70.36%	-92.40%	+22.04%
Ulcer Index Depth and duration of drawdowns from previous peaks	12.12%	35.95%	-23.83%

Volatility

TTT vs. SQQQ - Volatility Comparison

The current volatility for UltraPro Short 20+ Year Treasury (TTT) is 8.87%, while ProShares UltraPro Short QQQ (SQQQ) has a volatility of 13.72%. 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.

Volatility by Period

	TTT	SQQQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.87%	13.72%	-4.85%
Volatility (6M) Calculated over the trailing 6-month period	19.79%	36.46%	-16.67%
Volatility (1Y) Calculated over the trailing 1-year period	29.35%	47.82%	-18.47%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	47.18%	66.66%	-19.48%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	43.39%	66.12%	-22.73%

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 9.43%, less than SQQQ's 12.57% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
SQQQ ProShares UltraPro Short QQQ	12.57%	9.36%	10.23%	8.01%	0.28%	0.00%	2.15%	2.92%	1.47%	0.14%
TTT UltraPro Short 20+ Year Treasury	9.43%	9.87%	4.86%	12.15%	0.34%	0.00%	0.29%	1.88%	0.44%	0.00%

Frequently Asked Questions

Can I hold both TTT and SQQQ in my portfolio?

TTT and SQQQ have a correlation of 0.14, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, TTT or SQQQ?

SQQQ has higher volatility (13.72%) compared to TTT (8.87%). In terms of maximum drawdown, TTT dropped -94.00% vs SQQQ's -100.00%.

Which ETF is better, TTT or SQQQ?

On 10-year performance, TTT leads with -1.30% vs -56.04% for SQQQ. Both ETFs have the same 0.95% expense ratio. On volatility, TTT has been the lower-risk option at 8.87%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, TTT or SQQQ?

Over the 10-year period, TTT has performed better with a -1.30% return vs -56.04%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, TTT or SQQQ?

TTT and SQQQ have the same expense ratio: 0.95% per year.

Which ETF pays a higher dividend yield, TTT or SQQQ?

SQQQ has the higher dividend yield at 12.57%, compared with 9.43% for TTT.

What is the main difference between TTT and SQQQ?

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%).

Which has better risk-adjusted returns?

TTT currently has the higher Sharpe Ratio (-0.24 vs -1.39), 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.