TTT vs. UUP
TTT (UltraPro Short 20+ Year Treasury) and UUP (Invesco DB US Dollar Index Bullish Fund) are both exchange-traded funds - TTT is a Leveraged Bonds fund tracking the Barclays Capital U.S. 20+ Year Treasury Index (-300%), while UUP is a Currency fund tracking the Deutsche Bank Long US Dollar Index (USDX) Futures Index. Both are passively managed. Over the past 10 years, TTT returned -0.81%/yr vs 3.20%/yr for UUP. At a 0.16 correlation, their price movements are largely independent. TTT charges 0.95%/yr vs 0.75%/yr for UUP.
Performance
TTT vs. UUP - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, TTT achieves a 0.95% return, which is significantly lower than UUP's 4.92% return. Over the past 10 years, TTT has underperformed UUP with an annualized return of -0.81%, while UUP has yielded a comparatively higher 3.20% annualized return.
TTT
- 1D
- 1.82%
- 1M
- -5.76%
- YTD
- 0.95%
- 6M
- 1.96%
- 1Y
- -4.56%
- 3Y*
- 10.25%
- 5Y*
- 18.56%
- 10Y*
- -0.81%
UUP
- 1D
- 0.21%
- 1M
- 2.12%
- YTD
- 4.92%
- 6M
- 4.92%
- 1Y
- 7.04%
- 3Y*
- 4.78%
- 5Y*
- 5.90%
- 10Y*
- 3.20%
TTT vs. UUP - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
TTT UltraPro Short 20+ Year Treasury | 0.95% | -7.89% | 38.07% | -11.25% | 150.17% | 2.55% | -54.12% | -34.88% | 6.34% | -25.87% |
UUP Invesco DB US Dollar Index Bullish Fund | 4.92% | -4.99% | 13.50% | 3.63% | 9.46% | 5.73% | -6.66% | 4.09% | 7.05% | -9.10% |
Correlation
The correlation between TTT and UUP is 0.37, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.37 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.33 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.25 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.19 |
Correlation (All Time) Calculated using the full available price history since Mar 29, 2012 | 0.16 |
Over the past year, TTT and UUP have become more correlated (0.37) than their long-term average of 0.16, meaning their price movements have been converging.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
TTT vs. UUP — Risk / Return Rank
TTT
UUP
TTT vs. UUP - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for UltraPro Short 20+ Year Treasury (TTT) and Invesco DB US Dollar Index Bullish Fund (UUP). 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 | UUP | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.33 | ||
| Sortino ratioReturn per unit of downside risk | -1.72 | ||
| Omega ratioGain probability vs. loss probability | 1.00 | 1.21 | -0.21 |
| Calmar ratioReturn relative to maximum drawdown | -0.21 | 1.94 | -2.14 |
| Martin ratioReturn relative to average drawdown | -0.38 | 5.26 | -5.64 |
Loading charts...
Drawdowns
TTT vs. UUP - Drawdown Comparison
The maximum TTT drawdown since its inception was -94.00%, which is greater than UUP's maximum drawdown of -22.19%. Use the drawdown chart below to compare losses from any high point for TTT and UUP.
Loading charts...
Drawdown Indicators
| TTT | UUP | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -94.00% | -22.19% | -71.81% |
Max Drawdown (1Y)Largest decline over 1 year | -22.18% | -3.65% | -18.53% |
Max Drawdown (3Y)Largest decline over 3 years | -49.69% | -10.05% | -39.64% |
Max Drawdown (5Y)Largest decline over 5 years | -49.69% | -10.37% | -39.32% |
Max Drawdown (10Y)Largest decline over 10 years | -81.76% | -14.24% | -67.52% |
Current DrawdownCurrent decline from peak | -78.83% | -1.75% | -77.08% |
Average DrawdownAverage peak-to-trough decline | -70.37% | -8.90% | -61.47% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 11.88% | 1.36% | +10.52% |
Volatility
TTT vs. UUP - Volatility Comparison
UltraPro Short 20+ Year Treasury (TTT) has a higher volatility of 6.37% compared to Invesco DB US Dollar Index Bullish Fund (UUP) at 1.34%. This indicates that TTT's price experiences larger fluctuations and is considered to be riskier than UUP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| TTT | UUP | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.37% | 1.34% | +5.03% |
Volatility (6M)Calculated over the trailing 6-month period | 19.81% | 4.32% | +15.49% |
Volatility (1Y)Calculated over the trailing 1-year period | 28.38% | 6.08% | +22.30% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 47.02% | 7.22% | +39.80% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 43.39% | 6.96% | +36.43% |
TTT vs. UUP - Expense Ratio Comparison
TTT has a 0.95% expense ratio, which is higher than UUP's 0.75% expense ratio.
Dividends
TTT vs. UUP - Dividend Comparison
TTT's dividend yield for the trailing twelve months is around 9.58%, more than UUP's 3.27% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
TTT UltraPro Short 20+ Year Treasury | 9.58% | 9.87% | 4.86% | 12.15% | 0.34% | 0.00% | 0.29% | 1.88% | 0.44% | 0.00% |
UUP Invesco DB US Dollar Index Bullish Fund | 3.27% | 3.43% | 4.48% | 6.44% | 0.89% | 0.00% | 0.00% | 2.03% | 1.08% | 0.10% |
Frequently Asked Questions
TTT and UUP have a correlation of 0.37, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
TTT has higher volatility (6.37%) compared to UUP (1.34%). In terms of maximum drawdown, TTT dropped -94.00% vs UUP's -22.19%.
On 10-year performance, UUP leads with 3.20% vs -0.81% for TTT. On fees, UUP is cheaper at 0.75% per year. On volatility, UUP has been the lower-risk option at 1.34%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, UUP has performed better with a 3.20% return vs -0.81%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
UUP is cheaper with a 0.75% expense ratio, compared with 0.95% for TTT.
TTT has the higher dividend yield at 9.58%, compared with 3.27% for UUP.
TTT is categorized as Leveraged Bonds, while UUP is Currency. TTT tracks Barclays Capital U.S. 20+ Year Treasury Index (-300%), while UUP tracks Deutsche Bank Long US Dollar Index (USDX) Futures Index. They also come from different issuers: ProShares and Invesco. Their fees differ too: 0.95% for TTT and 0.75% for UUP.
UUP currently has the higher Sharpe Ratio (1.17 vs -0.16), 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.
Find the right allocation for TTT and UUP
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer