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 1.47%/yr vs 5.73%/yr for UJB. Their -0.10 correlation means they have often moved in opposite directions in the past. 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 16.17% return, which is significantly higher than UJB's 0.45% return. Over the past 10 years, TTT has underperformed UJB with an annualized return of 1.47%, while UJB has yielded a comparatively higher 5.73% annualized return.
TTT
- 1D
- 2.51%
- 1M
- 13.81%
- 6M
- 14.99%
- YTD
- 16.17%
- 1Y
- 16.61%
- 3Y*
- 10.12%
- 5Y*
- 25.60%
- 10Y*
- 1.47%
- ALL TIME*
- -8.89%
UJB
- 1D
- -0.01%
- 1M
- -0.97%
- 6M
- -0.35%
- YTD
- 0.45%
- 1Y
- 5.21%
- 3Y*
- 10.75%
- 5Y*
- 2.55%
- 10Y*
- 5.73%
- ALL TIME*
- 6.63%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $399.02K | $307.25K | $386.76K | |
| $1.43M | $2.11M | $1.51M |
TTT vs. UJB - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
TTT UltraPro Short 20+ Year Treasury | 16.17% | -7.89% | 38.07% | -11.25% | 150.17% | 2.55% | -54.12% | -34.88% | 6.34% | -25.87% |
UJB ProShares Ultra High Yield | 0.45% | 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 -0.43, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.43 |
Correlation (3Y) Balances recent behavior with more history. | -0.51 |
Correlation (5Y) Shows whether the relationship held over a longer period. | -0.41 |
Correlation (10Y) Provides a long-term view across more market conditions. | -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 -0.43, 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 | -0.28 | ||
| Sortino ratioReturn per unit of downside risk | -0.28 | ||
| Omega ratioGain probability vs. loss probability | 1.09 | 1.13 | -0.04 |
| Calmar ratioReturn relative to maximum drawdown | 0.62 | 1.04 | -0.42 |
| Martin ratioReturn relative to average drawdown | 1.24 | 4.28 | -3.04 |
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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 | -19.51% | -5.01% | -14.50% |
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 | -75.64% | -1.30% | -74.34% |
Average DrawdownAverage peak-to-trough decline | -70.43% | -6.11% | -64.32% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 9.78% | 1.22% | +8.56% |
Volatility
TTT vs. UJB - Volatility Comparison
UltraPro Short 20+ Year Treasury (TTT) has a higher volatility of 7.13% compared to ProShares Ultra High Yield (UJB) at 1.57%. 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 | 7.13% | 1.57% | +5.56% |
Volatility (6M)Calculated over the trailing 6-month period | 20.38% | 6.01% | +14.37% |
Volatility (1Y)Calculated over the trailing 1-year period | 27.76% | 7.33% | +20.43% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 46.79% | 14.67% | +32.12% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 43.16% | 17.58% | +25.58% |
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 8.35%, more than UJB's 3.21% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
TTT UltraPro Short 20+ Year Treasury | 8.35% | 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 | 3.21% | 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 -0.43, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
TTT has higher volatility (7.13%) compared to UJB (1.57%). In terms of maximum drawdown, TTT dropped -94.00% vs UJB's -40.14%.
On 10-year performance, UJB leads with 5.73% vs 1.47% for TTT. Both ETFs have the same 0.95% expense ratio. On volatility, UJB has been the lower-risk option at 1.57%. 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 5.73% return vs 1.47%. 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 8.35%, compared with 3.21% 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 (0.71 vs 0.44), 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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