TTT vs. TLTW
Compare and contrast key facts about UltraPro Short 20+ Year Treasury (TTT) and iShares 20+ Year Treasury Bond BuyWrite Strategy ETF (TLTW).
TTT and TLTW are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. TTT is a passively managed fund by ProShares that tracks the performance of the Barclays Capital U.S. 20+ Year Treasury Index (-300%). It was launched on Mar 27, 2012. TLTW is a passively managed fund by iShares that tracks the performance of the CBOE TLT 2% OTM Buywrite Index (USD). It was launched on Jun 18, 2022. Both TTT and TLTW are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Performance
TTT vs. TLTW - Performance Comparison
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TTT vs. TLTW - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
TTT UltraPro Short 20+ Year Treasury | 1.05% | -7.89% | 38.07% | -11.25% | 31.26% |
TLTW iShares 20+ Year Treasury Bond BuyWrite Strategy ETF | 1.44% | 11.36% | -2.18% | 0.73% | -11.09% |
Returns By Period
In the year-to-date period, TTT achieves a 1.05% return, which is significantly lower than TLTW's 1.44% return.
TTT
- 1D
- 0.49%
- 1M
- 14.15%
- YTD
- 1.05%
- 6M
- 6.63%
- 1Y
- 7.37%
- 3Y*
- 12.83%
- 5Y*
- 15.07%
- 10Y*
- -2.26%
TLTW
- 1D
- 0.22%
- 1M
- -2.98%
- YTD
- 1.44%
- 6M
- 2.22%
- 1Y
- 7.46%
- 3Y*
- 0.70%
- 5Y*
- —
- 10Y*
- —
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TTT vs. TLTW - Expense Ratio Comparison
TTT has a 0.95% expense ratio, which is higher than TLTW's 0.35% expense ratio.
Return for Risk
TTT vs. TLTW — Risk / Return Rank
TTT
TLTW
TTT vs. TLTW - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for UltraPro Short 20+ Year Treasury (TTT) and iShares 20+ Year Treasury Bond BuyWrite Strategy ETF (TLTW). 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 | TLTW | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.22 | 0.84 | -0.63 |
Sortino ratioReturn per unit of downside risk | 0.57 | 1.17 | -0.60 |
Omega ratioGain probability vs. loss probability | 1.06 | 1.15 | -0.09 |
Calmar ratioReturn relative to maximum drawdown | 0.20 | 1.42 | -1.22 |
Martin ratioReturn relative to average drawdown | 0.34 | 3.74 | -3.40 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| TTT | TLTW | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.22 | 0.84 | -0.63 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.32 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | -0.05 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.24 | -0.03 | -0.21 |
Correlation
The correlation between TTT and TLTW is -0.95. This indicates that the assets' prices tend to move in opposite directions. Negative correlation can be particularly beneficial for diversification and risk management, as one asset may offset the losses of the other during market fluctuations.
Dividends
TTT vs. TLTW - Dividend Comparison
TTT's dividend yield for the trailing twelve months is around 9.57%, less than TLTW's 13.66% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
TTT UltraPro Short 20+ Year Treasury | 9.57% | 9.87% | 4.86% | 12.15% | 0.34% | 0.00% | 0.29% | 1.88% | 0.44% |
TLTW iShares 20+ Year Treasury Bond BuyWrite Strategy ETF | 13.66% | 14.82% | 14.47% | 19.59% | 8.71% | 0.00% | 0.00% | 0.00% | 0.00% |
Drawdowns
TTT vs. TLTW - Drawdown Comparison
The maximum TTT drawdown since its inception was -94.00%, which is greater than TLTW's maximum drawdown of -18.61%. Use the drawdown chart below to compare losses from any high point for TTT and TLTW.
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Drawdown Indicators
| TTT | TLTW | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -94.00% | -18.61% | -75.39% |
Max Drawdown (1Y)Largest decline over 1 year | -25.97% | -5.80% | -20.17% |
Max Drawdown (5Y)Largest decline over 5 years | -49.69% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -81.76% | — | — |
Current DrawdownCurrent decline from peak | -78.81% | -2.98% | -75.83% |
Average DrawdownAverage peak-to-trough decline | -70.26% | -8.49% | -61.77% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 15.07% | 2.20% | +12.87% |
Volatility
TTT vs. TLTW - Volatility Comparison
UltraPro Short 20+ Year Treasury (TTT) has a higher volatility of 10.81% compared to iShares 20+ Year Treasury Bond BuyWrite Strategy ETF (TLTW) at 3.46%. This indicates that TTT's price experiences larger fluctuations and is considered to be riskier than TLTW based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| TTT | TLTW | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 10.81% | 3.46% | +7.35% |
Volatility (6M)Calculated over the trailing 6-month period | 19.73% | 5.80% | +13.93% |
Volatility (1Y)Calculated over the trailing 1-year period | 34.37% | 8.91% | +25.46% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 47.26% | 11.55% | +35.71% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 43.47% | 11.55% | +31.92% |