TTT vs. UJB
TTT (UltraPro Short 20+ Year Treasury) and UJB (ProShares Ultra High Yield) are both Leveraged Bonds funds from ProShares - TTT tracks the Barclays Capital U.S. 20+ Year Treasury Index (-300%) while UJB tracks the Markit iBoxx $ Liquid High Yield Index. Both are passively managed. Over the past 10 years, TTT returned -0.85%/yr vs 5.51%/yr for UJB. At a correlation of -0.10, they often move in opposite directions. Both charge a 0.95% expense ratio.
Performance
TTT vs. UJB - Performance Comparison
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Returns By Period
In the year-to-date period, TTT achieves a 0.59% return, which is significantly lower than UJB's 1.07% return. Over the past 10 years, TTT has underperformed UJB with an annualized return of -0.85%, while UJB has yielded a comparatively higher 5.51% annualized return.
TTT
- 1D
- -0.36%
- 1M
- -6.09%
- YTD
- 0.59%
- 6M
- 2.13%
- 1Y
- -4.00%
- 3Y*
- 10.12%
- 5Y*
- 18.57%
- 10Y*
- -0.85%
UJB
- 1D
- -0.12%
- 1M
- 0.61%
- YTD
- 1.07%
- 6M
- 1.41%
- 1Y
- 7.39%
- 3Y*
- 12.18%
- 5Y*
- 2.81%
- 10Y*
- 5.51%
TTT vs. UJB - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
TTT UltraPro Short 20+ Year Treasury | 0.59% | -7.89% | 38.07% | -11.25% | 150.17% | 2.55% | -54.12% | -34.88% | 6.34% | -25.87% |
UJB ProShares Ultra High Yield | 1.07% | 12.22% | 9.41% | 17.70% | -23.27% | 6.96% | 5.19% | 26.68% | -6.08% | 11.77% |
Correlation
The correlation between TTT and UJB is -0.46, 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 | -0.46 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.53 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.40 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.16 |
Correlation (All Time) Calculated using the full available price history since Mar 29, 2012 | -0.10 |
Over the past year, the inverse relationship between TTT and UJB has strengthened: their correlation has moved from -0.10 to -0.46, meaning they now move in opposite directions more often than their long-term average.
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Return for Risk
TTT vs. UJB — Risk / Return Rank
TTT
UJB
TTT vs. UJB - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for UltraPro Short 20+ Year Treasury (TTT) and ProShares Ultra High Yield (UJB). 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 | UJB | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.15 | ||
| Sortino ratioReturn per unit of downside risk | -1.52 | ||
| Omega ratioGain probability vs. loss probability | 1.00 | 1.19 | -0.19 |
| Calmar ratioReturn relative to maximum drawdown | -0.18 | 1.48 | -1.66 |
| Martin ratioReturn relative to average drawdown | -0.34 | 6.23 | -6.56 |
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Drawdowns
TTT vs. UJB - Drawdown Comparison
The maximum TTT drawdown since its inception was -94.00%, which is greater than UJB's maximum drawdown of -40.14%. Use the drawdown chart below to compare losses from any high point for TTT and UJB.
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Drawdown Indicators
| TTT | UJB | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -94.00% | -40.14% | -53.86% |
Max Drawdown (1Y)Largest decline over 1 year | -22.18% | -5.01% | -17.17% |
Max Drawdown (3Y)Largest decline over 3 years | -49.69% | -9.47% | -40.22% |
Max Drawdown (5Y)Largest decline over 5 years | -49.69% | -30.14% | -19.55% |
Max Drawdown (10Y)Largest decline over 10 years | -81.76% | -40.14% | -41.62% |
Current DrawdownCurrent decline from peak | -78.91% | -0.59% | -78.32% |
Average DrawdownAverage peak-to-trough decline | -70.37% | -6.15% | -64.22% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 11.89% | 1.19% | +10.70% |
Volatility
TTT vs. UJB - Volatility Comparison
UltraPro Short 20+ Year Treasury (TTT) has a higher volatility of 6.36% compared to ProShares Ultra High Yield (UJB) at 1.96%. This indicates that TTT's price experiences larger fluctuations and is considered to be riskier than UJB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| TTT | UJB | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.36% | 1.96% | +4.40% |
Volatility (6M)Calculated over the trailing 6-month period | 19.77% | 5.90% | +13.87% |
Volatility (1Y)Calculated over the trailing 1-year period | 28.33% | 7.37% | +20.96% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 47.02% | 14.69% | +32.33% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 43.32% | 18.02% | +25.30% |
TTT vs. UJB - Expense Ratio Comparison
Both TTT and UJB have an expense ratio of 0.95%.
Dividends
TTT vs. UJB - Dividend Comparison
TTT's dividend yield for the trailing twelve months is around 9.61%, more than UJB's 3.34% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
TTT UltraPro Short 20+ Year Treasury | 9.61% | 9.87% | 4.86% | 12.15% | 0.34% | 0.00% | 0.29% | 1.88% | 0.44% | 0.00% | 0.00% | 0.00% |
UJB ProShares Ultra High Yield | 3.34% | 2.61% | 3.02% | 3.92% | 0.05% | 0.63% | 2.88% | 3.95% | 3.22% | 2.67% | 2.35% | 3.62% |
Frequently Asked Questions
TTT and UJB have a correlation of -0.46, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
TTT has higher volatility (6.36%) compared to UJB (1.96%). In terms of maximum drawdown, TTT dropped -94.00% vs UJB's -40.14%.
On 10-year performance, UJB leads with 5.51% vs -0.85% for TTT. Both ETFs have the same 0.95% expense ratio. On volatility, UJB has been the lower-risk option at 1.96%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, UJB has performed better with a 5.51% return vs -0.85%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
TTT and UJB have the same expense ratio: 0.95% per year.
TTT has the higher dividend yield at 9.61%, compared with 3.34% for UJB.
TTT tracks Barclays Capital U.S. 20+ Year Treasury Index (-300%), while UJB tracks Markit iBoxx $ Liquid High Yield Index.
UJB currently has the higher Sharpe Ratio (1.01 vs -0.14), 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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