TTT vs. TYO
TTT (UltraPro Short 20+ Year Treasury) and TYO (Direxion Daily 7-10 Year Treasury Bear 3X) are both Leveraged Bonds funds - TTT tracks the Barclays Capital U.S. 20+ Year Treasury Index (-300%) while TYO tracks the NYSE 7-10 Year Treasury Bond Index. Both are passively managed. Over the past 10 years, TTT returned -1.20%/yr vs 1.79%/yr for TYO. Their correlation of 0.88 suggests significant overlap in exposure. TTT charges 0.95%/yr vs 1.08%/yr for TYO.
Performance
TTT vs. TYO - Performance Comparison
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Returns By Period
In the year-to-date period, TTT achieves a 3.59% return, which is significantly lower than TYO's 8.03% return. Over the past 10 years, TTT has underperformed TYO with an annualized return of -1.20%, while TYO has yielded a comparatively higher 1.79% annualized return.
TTT
- 1D
- 1.04%
- 1M
- -1.77%
- YTD
- 3.59%
- 6M
- 10.09%
- 1Y
- -6.82%
- 3Y*
- 9.99%
- 5Y*
- 17.30%
- 10Y*
- -1.20%
TYO
- 1D
- 1.07%
- 1M
- 1.54%
- YTD
- 8.03%
- 6M
- 11.18%
- 1Y
- 3.00%
- 3Y*
- 7.71%
- 5Y*
- 12.51%
- 10Y*
- 1.79%
TTT vs. TYO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
TTT UltraPro Short 20+ Year Treasury | 3.59% | -7.89% | 38.07% | -11.25% | 150.17% | 2.55% | -54.12% | -34.88% | 6.34% | -25.87% |
TYO Direxion Daily 7-10 Year Treasury Bear 3X | 8.03% | -7.64% | 18.94% | 1.06% | 58.83% | 7.47% | -28.56% | -18.71% | -1.42% | -8.94% |
Correlation
The correlation between TTT and TYO is 0.89, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| 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 | 0.91 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.87 |
Correlation (All Time) Calculated using the full available price history since Mar 30, 2012 | 0.88 |
The correlation between TTT and TYO has been stable across timeframes, ranging from 0.87 to 0.92 - a consistent structural relationship.
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Return for Risk
TTT vs. TYO — Risk / Return Rank
TTT
TYO
TTT vs. TYO - 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 Bear 3X (TYO). 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 | TYO | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | -0.23 | 0.21 | -0.44 |
Sortino ratioReturn per unit of downside risk | -0.13 | 0.39 | -0.53 |
Omega ratioGain probability vs. loss probability | 0.98 | 1.05 | -0.06 |
Calmar ratioReturn relative to maximum drawdown | -0.31 | 0.29 | -0.60 |
Martin ratioReturn relative to average drawdown | -0.58 | 0.51 | -1.09 |
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 | TYO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.23 | 0.21 | -0.44 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.37 | 0.54 | -0.17 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | -0.03 | 0.09 | -0.12 |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.23 | -0.34 | +0.11 |
Drawdowns
TTT vs. TYO - Drawdown Comparison
The maximum TTT drawdown since its inception was -94.00%, which is greater than TYO's maximum drawdown of -89.25%. Use the drawdown chart below to compare losses from any high point for TTT and TYO.
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Drawdown Indicators
| TTT | TYO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -94.00% | -89.25% | -4.75% |
Max Drawdown (1Y)Largest decline over 1 year | -22.18% | -10.48% | -11.70% |
Max Drawdown (3Y)Largest decline over 3 years | -49.69% | -24.40% | -25.29% |
Max Drawdown (5Y)Largest decline over 5 years | -49.69% | -24.40% | -25.29% |
Max Drawdown (10Y)Largest decline over 10 years | -81.76% | -52.21% | -29.55% |
Current DrawdownCurrent decline from peak | -78.28% | -77.19% | -1.09% |
Average DrawdownAverage peak-to-trough decline | -70.36% | -71.09% | +0.73% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 12.13% | 5.85% | +6.28% |
Volatility
TTT vs. TYO - Volatility Comparison
UltraPro Short 20+ Year Treasury (TTT) has a higher volatility of 8.69% compared to Direxion Daily 7-10 Year Treasury Bear 3X (TYO) at 4.94%. This indicates that TTT's price experiences larger fluctuations and is considered to be riskier than TYO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| TTT | TYO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.69% | 4.94% | +3.75% |
Volatility (6M)Calculated over the trailing 6-month period | 19.48% | 10.14% | +9.34% |
Volatility (1Y)Calculated over the trailing 1-year period | 29.26% | 14.56% | +14.70% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 47.18% | 23.23% | +23.95% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 43.38% | 20.19% | +23.19% |
TTT vs. TYO - Expense Ratio Comparison
TTT has a 0.95% expense ratio, which is lower than TYO's 1.08% expense ratio.
Dividends
TTT vs. TYO - Dividend Comparison
TTT's dividend yield for the trailing twelve months is around 9.34%, more than TYO's 2.82% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
TTT UltraPro Short 20+ Year Treasury | 9.34% | 9.87% | 4.86% | 12.15% | 0.34% | 0.00% | 0.29% | 1.88% | 0.44% |
TYO Direxion Daily 7-10 Year Treasury Bear 3X | 2.82% | 3.69% | 4.22% | 3.62% | 0.09% | 0.00% | 0.36% | 1.58% | 0.32% |
Frequently Asked Questions
TTT and TYO 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.
TTT has higher volatility (8.69%) compared to TYO (4.94%). In terms of maximum drawdown, TTT dropped -94.00% vs TYO's -89.25%.
On 10-year performance, TYO leads with 1.79% vs -1.20% for TTT. On fees, TTT is cheaper at 0.95% per year. On volatility, TYO has been the lower-risk option at 4.94%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, TYO has performed better with a 1.79% return vs -1.20%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
TTT is cheaper with a 0.95% expense ratio, compared with 1.08% for TYO.
TTT has the higher dividend yield at 9.34%, compared with 2.82% for TYO.
TTT tracks Barclays Capital U.S. 20+ Year Treasury Index (-300%), while TYO 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 1.08% for TYO.
TYO currently has the higher Sharpe Ratio (0.21 vs -0.23), 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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