TTT vs. USD
TTT (UltraPro Short 20+ Year Treasury) and USD (ProShares Ultra Semiconductors) are both exchange-traded funds - TTT is a Leveraged Bonds fund tracking the Barclays Capital U.S. 20+ Year Treasury Index (-300%), while USD is a Leveraged Equities fund tracking the Dow Jones U.S. Semiconductors Index (200%). Both are passively managed. Over the past 10 years, TTT returned 1.47%/yr vs 54.19%/yr for USD. Their 0.16 correlation means their historical movements had little consistent relationship. Both charge a 0.95% expense ratio.
Performance
TTT vs. USD - Performance Comparison
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Returns By Period
In the year-to-date period, TTT achieves a 16.17% return, which is significantly lower than USD's 50.25% return. Over the past 10 years, TTT has underperformed USD with an annualized return of 1.47%, while USD has yielded a comparatively higher 54.19% 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%
USD
- 1D
- 1.44%
- 1M
- -10.08%
- 6M
- 34.80%
- YTD
- 50.25%
- 1Y
- 92.29%
- 3Y*
- 87.71%
- 5Y*
- 55.02%
- 10Y*
- 54.19%
- ALL TIME*
- 28.07%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $399.02K | $307.25K | $386.76K | |
| $68.86M | $72.62M | $95.81M |
TTT vs. USD - 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% |
USD ProShares Ultra Semiconductors | 50.25% | 62.08% | 139.64% | 228.79% | -68.57% | 104.27% | 68.16% | 110.37% | -26.88% | 81.72% |
Correlation
The correlation between TTT and USD is -0.06, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.06 |
Correlation (3Y) Balances recent behavior with more history. | -0.03 |
Correlation (5Y) Shows whether the relationship held over a longer period. | -0.02 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.08 |
Correlation (All Time) Calculated using the full available price history since Mar 29, 2012 | 0.16 |
The correlation between TTT and USD shifts across timeframes, from -0.06 (1 year) to 0.16 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
TTT vs. USD — Risk / Return Rank
TTT
USD
TTT vs. USD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for UltraPro Short 20+ Year Treasury (TTT) and ProShares Ultra Semiconductors (USD). 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 | USD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.71 | ||
| Sortino ratioReturn per unit of downside risk | -0.92 | ||
| Omega ratioGain probability vs. loss probability | 1.09 | 1.22 | -0.13 |
| Calmar ratioReturn relative to maximum drawdown | 0.62 | 2.16 | -1.54 |
| Martin ratioReturn relative to average drawdown | 1.24 | 6.21 | -4.98 |
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Drawdowns
TTT vs. USD - Drawdown Comparison
The maximum TTT drawdown since its inception was -94.00%, which is greater than USD's maximum drawdown of -88.63%. Use the drawdown chart below to compare losses from any high point for TTT and USD.
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Drawdown Indicators
| TTT | USD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -94.00% | -88.63% | -5.37% |
Max Drawdown (1Y)Largest decline over 1 year | -19.51% | -39.33% | +19.82% |
Max Drawdown (3Y)Largest decline over 3 years | -49.69% | -64.46% | +14.77% |
Max Drawdown (5Y)Largest decline over 5 years | -49.69% | -77.85% | +28.16% |
Max Drawdown (10Y)Largest decline over 10 years | -81.76% | -77.85% | -3.91% |
Current DrawdownCurrent decline from peak | -75.64% | -30.59% | -45.05% |
Average DrawdownAverage peak-to-trough decline | -70.43% | -32.23% | -38.20% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 9.78% | 13.62% | -3.84% |
Volatility
TTT vs. USD - Volatility Comparison
The current volatility for UltraPro Short 20+ Year Treasury (TTT) is 7.13%, while ProShares Ultra Semiconductors (USD) has a volatility of 28.19%. This indicates that TTT experiences smaller price fluctuations and is considered to be less risky than USD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| TTT | USD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.13% | 28.19% | -21.06% |
Volatility (6M)Calculated over the trailing 6-month period | 20.38% | 61.13% | -40.75% |
Volatility (1Y)Calculated over the trailing 1-year period | 27.76% | 73.80% | -46.04% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 46.79% | 78.73% | -31.94% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 43.16% | 70.38% | -27.22% |
TTT vs. USD - Expense Ratio Comparison
Both TTT and USD have an expense ratio of 0.95%.
Dividends
TTT vs. USD - Dividend Comparison
TTT's dividend yield for the trailing twelve months is around 8.35%, more than USD's 0.39% 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% |
USD ProShares Ultra Semiconductors | 0.39% | 0.39% | 0.10% | 0.05% | 0.30% | 0.00% | 0.14% | 0.72% | 0.93% | 0.32% | 0.46% | 0.39% |
Frequently Asked Questions
TTT and USD have a correlation of -0.06, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
USD has higher volatility (28.19%) compared to TTT (7.13%). In terms of maximum drawdown, TTT dropped -94.00% vs USD's -88.63%.
On 10-year performance, USD leads with 54.19% vs 1.47% for TTT. Both ETFs have the same 0.95% expense ratio. On volatility, TTT has been the lower-risk option at 7.13%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, USD has performed better with a 54.19% return vs 1.47%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
TTT and USD have the same expense ratio: 0.95% per year.
TTT has the higher dividend yield at 8.35%, compared with 0.39% for USD.
TTT is categorized as Leveraged Bonds, while USD is Leveraged Equities. TTT tracks Barclays Capital U.S. 20+ Year Treasury Index (-300%), while USD tracks Dow Jones U.S. Semiconductors Index (200%).
USD currently has the higher Sharpe Ratio (1.15 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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