TTT vs. USO
Compare and contrast key facts about UltraPro Short 20+ Year Treasury (TTT) and United States Oil Fund LP (USO).
TTT and USO are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. TTT is a passively managed fund by ProShares that tracks the performance of the Barclays Capital U.S. 20+ Year Treasury Index (-300%). It was launched on Mar 27, 2012. USO is a passively managed fund by Concierge Technologies that tracks the performance of the Front Month Light Sweet Crude Oil. It was launched on Apr 10, 2006. Both TTT and USO are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Performance
TTT vs. USO - Performance Comparison
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TTT vs. USO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
TTT UltraPro Short 20+ Year Treasury | 1.05% | -7.89% | 38.07% | -11.25% | 150.17% | 2.55% | -54.12% | -34.88% | 6.34% | -25.87% |
USO United States Oil Fund LP | 83.99% | -8.46% | 13.35% | -4.94% | 28.97% | 64.68% | -67.79% | 32.61% | -19.57% | 2.47% |
Returns By Period
In the year-to-date period, TTT achieves a 1.05% return, which is significantly lower than USO's 83.99% return. Over the past 10 years, TTT has underperformed USO with an annualized return of -2.26%, while USO has yielded a comparatively higher 5.48% annualized return.
TTT
- 1D
- 0.49%
- 1M
- 14.15%
- YTD
- 1.05%
- 6M
- 6.63%
- 1Y
- 7.37%
- 3Y*
- 12.83%
- 5Y*
- 15.07%
- 10Y*
- -2.26%
USO
- 1D
- -1.99%
- 1M
- 55.28%
- YTD
- 83.99%
- 6M
- 72.54%
- 1Y
- 64.55%
- 3Y*
- 24.19%
- 5Y*
- 24.91%
- 10Y*
- 5.48%
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TTT vs. USO - Expense Ratio Comparison
TTT has a 0.95% expense ratio, which is higher than USO's 0.79% expense ratio.
Return for Risk
TTT vs. USO — Risk / Return Rank
TTT
USO
TTT vs. USO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for UltraPro Short 20+ Year Treasury (TTT) and United States Oil Fund LP (USO). 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 | USO | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.22 | 1.65 | -1.44 |
Sortino ratioReturn per unit of downside risk | 0.57 | 2.32 | -1.75 |
Omega ratioGain probability vs. loss probability | 1.06 | 1.30 | -0.23 |
Calmar ratioReturn relative to maximum drawdown | 0.20 | 3.44 | -3.25 |
Martin ratioReturn relative to average drawdown | 0.34 | 5.96 | -5.62 |
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 | USO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.22 | 1.65 | -1.44 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.32 | 0.73 | -0.41 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | -0.05 | 0.14 | -0.20 |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.24 | -0.19 | -0.04 |
Correlation
The correlation between TTT and USO is 0.22, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.
Dividends
TTT vs. USO - Dividend Comparison
TTT's dividend yield for the trailing twelve months is around 9.57%, while USO has not paid dividends to shareholders.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
TTT UltraPro Short 20+ Year Treasury | 9.57% | 9.87% | 4.86% | 12.15% | 0.34% | 0.00% | 0.29% | 1.88% | 0.44% |
USO United States Oil Fund LP | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Drawdowns
TTT vs. USO - Drawdown Comparison
The maximum TTT drawdown since its inception was -94.00%, roughly equal to the maximum USO drawdown of -98.19%. Use the drawdown chart below to compare losses from any high point for TTT and USO.
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Drawdown Indicators
| TTT | USO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -94.00% | -98.19% | +4.19% |
Max Drawdown (1Y)Largest decline over 1 year | -25.97% | -20.39% | -5.58% |
Max Drawdown (5Y)Largest decline over 5 years | -49.69% | -36.23% | -13.46% |
Max Drawdown (10Y)Largest decline over 10 years | -81.76% | -86.75% | +4.99% |
Current DrawdownCurrent decline from peak | -78.81% | -86.46% | +7.65% |
Average DrawdownAverage peak-to-trough decline | -70.26% | -75.21% | +4.95% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 15.07% | 11.77% | +3.30% |
Volatility
TTT vs. USO - Volatility Comparison
The current volatility for UltraPro Short 20+ Year Treasury (TTT) is 10.81%, while United States Oil Fund LP (USO) has a volatility of 21.87%. This indicates that TTT experiences smaller price fluctuations and is considered to be less risky than USO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| TTT | USO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 10.81% | 21.87% | -11.06% |
Volatility (6M)Calculated over the trailing 6-month period | 19.73% | 29.71% | -9.98% |
Volatility (1Y)Calculated over the trailing 1-year period | 34.37% | 39.38% | -5.01% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 47.26% | 34.41% | +12.85% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 43.47% | 38.33% | +5.14% |