TTT vs. TYD

Last updated Jun 3, 2026

TTT (UltraPro Short 20+ Year Treasury) and TYD (Direxion Daily 7-10 Year Treasury Bull 3X) are both Leveraged Bonds funds - TTT tracks the Barclays Capital U.S. 20+ Year Treasury Index (-300%) while TYD tracks the NYSE 7-10 Year Treasury Bond Index. Both are passively managed. Over the past 10 years, TTT returned -1.30%/yr vs -4.63%/yr for TYD. At a correlation of -0.81, they often move in opposite directions. TTT charges 0.95%/yr vs 1.09%/yr for TYD.

Performance

TTT vs. TYD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in UltraPro Short 20+ Year Treasury (TTT) and Direxion Daily 7-10 Year Treasury Bull 3X (TYD). 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 TYD's -5.40% return. Over the past 10 years, TTT has outperformed TYD with an annualized return of -1.30%, while TYD has yielded a comparatively lower -4.63% 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%

TYD

• 1D: 0.13%
• 1M: -1.42%
• YTD: -5.40%
• 6M: -7.08%
• 1Y: 1.17%
• 3Y*: -4.80%
• 5Y*: -12.47%
• 10Y*: -4.63%

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

TTT vs. TYD - 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%
TYD Direxion Daily 7-10 Year Treasury Bull 3X	-5.40%	11.68%	-13.89%	-2.87%	-43.32%	-11.36%	27.62%	17.88%	0.76%	5.64%

Correlation

The correlation between TTT and TYD is -0.89, 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	-0.89
Correlation (3Y) Calculated over the trailing 3-year period	-0.92
Correlation (5Y) Calculated over the trailing 5-year period	-0.92
Correlation (10Y) Calculated over the trailing 10-year period	-0.85
Correlation (All Time) Calculated using the full available price history since Mar 30, 2012	-0.81

The correlation between TTT and TYD shifts across timeframes, from -0.92 (3 years) to -0.81 (all time), reflecting how their relationship changes across market environments.

TTT vs. TYD - Sectors Allocation Comparison

Sectors	TTT	TYD
Financial Services	62.5%	21.5%
Basic Materials	-	-
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Energy	-	-
Healthcare	-	-
Industrials	-	-
Real Estate	-	-
Technology	-	-
Utilities	-	-

Return for Risk

TTT vs. TYD — 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

TYD

TYD Risk / Return Rank: 9
TYD Sharpe Ratio Rank: 10
TYD Sortino Ratio Rank: 9
TYD Omega Ratio Rank: 9
TYD Calmar Ratio Rank: 9
TYD Martin Ratio Rank: 9

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. TYD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for UltraPro Short 20+ Year Treasury (TTT) and Direxion Daily 7-10 Year Treasury Bull 3X (TYD). 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	TYD	Difference
Sharpe ratio Return per unit of total volatility	-0.24	0.08	-0.33
Sortino ratio Return per unit of downside risk	-0.15	0.22	-0.37
Omega ratio Gain probability vs. loss probability	0.98	1.02	-0.04
Calmar ratio Return relative to maximum drawdown	-0.21	0.02	-0.23
Martin ratio Return relative to average drawdown	-0.40	0.05	-0.44
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. TYD - Sharpe Ratio Comparison

The current TTT Sharpe Ratio is -0.24, which is lower than the TYD Sharpe Ratio of 0.08. The chart below compares the historical Sharpe Ratios of TTT and TYD, 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	TYD	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.24	0.08	-0.33
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.34	-0.55	+0.89
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	-0.03	-0.23	+0.20
Sharpe Ratio (All Time) Calculated using the full available price history	-0.23	0.05	-0.29

Drawdowns

TTT vs. TYD - Drawdown Comparison

The maximum TTT drawdown since its inception was -94.00%, which is greater than TYD's maximum drawdown of -64.28%. Use the drawdown chart below to compare losses from any high point for TTT and TYD.

Drawdown Indicators

	TTT	TYD	Difference
Max Drawdown Largest peak-to-trough decline	-94.00%	-64.28%	-29.72%
Max Drawdown (1Y) Largest decline over 1 year	-22.51%	-13.54%	-8.97%
Max Drawdown (3Y) Largest decline over 3 years	-49.69%	-25.04%	-24.65%
Max Drawdown (5Y) Largest decline over 5 years	-49.69%	-59.84%	+10.15%
Max Drawdown (10Y) Largest decline over 10 years	-81.76%	-64.28%	-17.48%
Current Drawdown Current decline from peak	-78.50%	-58.89%	-19.61%
Average Drawdown Average peak-to-trough decline	-70.36%	-21.94%	-48.42%
Ulcer Index Depth and duration of drawdowns from previous peaks	12.12%	4.92%	+7.20%

Volatility

TTT vs. TYD - Volatility Comparison

UltraPro Short 20+ Year Treasury (TTT) has a higher volatility of 8.87% compared to Direxion Daily 7-10 Year Treasury Bull 3X (TYD) at 4.26%. This indicates that TTT's price experiences larger fluctuations and is considered to be riskier than TYD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TTT	TYD	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.87%	4.26%	+4.61%
Volatility (6M) Calculated over the trailing 6-month period	19.79%	9.67%	+10.12%
Volatility (1Y) Calculated over the trailing 1-year period	29.35%	14.13%	+15.22%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	47.18%	22.98%	+24.20%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	43.39%	20.37%	+23.02%

TTT vs. TYD - Expense Ratio Comparison

TTT has a 0.95% expense ratio, which is lower than TYD's 1.09% expense ratio.

Dividends

TTT vs. TYD - Dividend Comparison

TTT's dividend yield for the trailing twelve months is around 9.43%, more than TYD's 3.20% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
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%	0.00%	0.00%
TYD Direxion Daily 7-10 Year Treasury Bull 3X	3.20%	2.97%	3.10%	2.71%	0.55%	0.00%	9.80%	0.92%	1.10%	0.01%	6.84%	1.65%

Frequently Asked Questions

Can I hold both TTT and TYD in my portfolio?

TTT and TYD have a correlation of -0.89, 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 TYD?

TTT has higher volatility (8.87%) compared to TYD (4.26%). In terms of maximum drawdown, TTT dropped -94.00% vs TYD's -64.28%.

Which ETF is better, TTT or TYD?

On 10-year performance, TTT leads with -1.30% vs -4.63% for TYD. On fees, TTT is cheaper at 0.95% per year. On volatility, TYD has been the lower-risk option at 4.26%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, TTT or TYD?

Over the 10-year period, TTT has performed better with a -1.30% return vs -4.63%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, TTT or TYD?

TTT is cheaper with a 0.95% expense ratio, compared with 1.09% for TYD.

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

TTT has the higher dividend yield at 9.43%, compared with 3.20% for TYD.

What is the main difference between TTT and TYD?

TTT tracks Barclays Capital U.S. 20+ Year Treasury Index (-300%), while TYD tracks NYSE 7-10 Year Treasury Bond Index. They also come from different issuers: ProShares and Direxion. Their fees differ too: 0.95% for TTT and 1.09% for TYD.

Which has better risk-adjusted returns?

TYD currently has the higher Sharpe Ratio (0.08 vs -0.24), 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.