TTT vs. UVXY
TTT (UltraPro Short 20+ Year Treasury) and UVXY (ProShares Ultra VIX Short-Term Futures ETF) are both exchange-traded funds - TTT is a Leveraged Bonds fund tracking the Barclays Capital U.S. 20+ Year Treasury Index (-300%), while UVXY is a Volatility fund tracking the S&P 500 VIX SHORT-TERM FUTURES TR (150%). Both are passively managed. Over the past 10 years, TTT returned 1.47%/yr vs -71.50%/yr for UVXY. Their -0.19 correlation means they have often moved in opposite directions in the past. Both charge a 0.95% expense ratio.
Performance
TTT vs. UVXY - 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 UVXY's -35.24% return. Over the past 10 years, TTT has outperformed UVXY with an annualized return of 1.47%, while UVXY has yielded a comparatively lower -71.50% 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%
UVXY
- 1D
- -4.24%
- 1M
- -6.17%
- 6M
- -37.50%
- YTD
- -35.24%
- 1Y
- -73.24%
- 3Y*
- -61.42%
- 5Y*
- -68.18%
- 10Y*
- -71.50%
- ALL TIME*
- -80.18%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $399.02K | $307.25K | $386.76K | |
| $190.03M | $191.90M | $239.87M |
TTT vs. UVXY - 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% |
UVXY ProShares Ultra VIX Short-Term Futures ETF | -35.24% | -65.32% | -50.90% | -87.70% | -44.81% | -88.33% | -17.38% | -84.23% | 60.10% | -94.17% |
Correlation
The correlation between TTT and UVXY is 0.12, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.12 |
Correlation (3Y) Balances recent behavior with more history. | 0.10 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.03 |
Correlation (10Y) Provides a long-term view across more market conditions. | -0.10 |
Correlation (All Time) Calculated using the full available price history since Mar 29, 2012 | -0.19 |
The correlation between TTT and UVXY shifts across timeframes, from -0.19 (all time) to 0.12 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
TTT vs. UVXY — Risk / Return Rank
TTT
UVXY
TTT vs. UVXY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for UltraPro Short 20+ Year Treasury (TTT) and ProShares Ultra VIX Short-Term Futures ETF (UVXY). 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 | UVXY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.24 | ||
| Sortino ratioReturn per unit of downside risk | +2.15 | ||
| Omega ratioGain probability vs. loss probability | 1.09 | 0.85 | +0.24 |
| Calmar ratioReturn relative to maximum drawdown | 0.62 | -0.95 | +1.57 |
| Martin ratioReturn relative to average drawdown | 1.24 | -1.35 | +2.59 |
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Drawdowns
TTT vs. UVXY - Drawdown Comparison
The maximum TTT drawdown since its inception was -94.00%, smaller than the maximum UVXY drawdown of -100.00%. Use the drawdown chart below to compare losses from any high point for TTT and UVXY.
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Drawdown Indicators
| TTT | UVXY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -94.00% | -100.00% | +6.00% |
Max Drawdown (1Y)Largest decline over 1 year | -19.51% | -73.88% | +54.37% |
Max Drawdown (3Y)Largest decline over 3 years | -49.69% | -95.42% | +45.73% |
Max Drawdown (5Y)Largest decline over 5 years | -49.69% | -99.68% | +49.99% |
Max Drawdown (10Y)Largest decline over 10 years | -81.76% | -100.00% | +18.24% |
Current DrawdownCurrent decline from peak | -75.64% | -100.00% | +24.36% |
Average DrawdownAverage peak-to-trough decline | -70.43% | -98.76% | +28.33% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 9.78% | 51.60% | -41.82% |
Volatility
TTT vs. UVXY - Volatility Comparison
The current volatility for UltraPro Short 20+ Year Treasury (TTT) is 7.13%, while ProShares Ultra VIX Short-Term Futures ETF (UVXY) has a volatility of 22.30%. This indicates that TTT experiences smaller price fluctuations and is considered to be less risky than UVXY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| TTT | UVXY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.13% | 22.30% | -15.17% |
Volatility (6M)Calculated over the trailing 6-month period | 20.38% | 65.55% | -45.17% |
Volatility (1Y)Calculated over the trailing 1-year period | 27.76% | 87.28% | -59.52% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 46.79% | 103.39% | -56.60% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 43.16% | 112.09% | -68.93% |
TTT vs. UVXY - Expense Ratio Comparison
Both TTT and UVXY have an expense ratio of 0.95%.
Dividends
TTT vs. UVXY - Dividend Comparison
TTT's dividend yield for the trailing twelve months is around 8.35%, while UVXY has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
TTT UltraPro Short 20+ Year Treasury | 8.35% | 9.87% | 4.86% | 12.15% | 0.34% | 0.00% | 0.29% | 1.88% | 0.44% |
UVXY ProShares Ultra VIX Short-Term Futures ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
TTT and UVXY have a correlation of 0.12, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
UVXY has higher volatility (22.30%) compared to TTT (7.13%). In terms of maximum drawdown, TTT dropped -94.00% vs UVXY's -100.00%.
On 10-year performance, TTT leads with 1.47% vs -71.50% for UVXY. 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, TTT has performed better with a 1.47% return vs -71.50%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
TTT and UVXY have the same expense ratio: 0.95% per year.
TTT has the higher dividend yield at 8.35%, compared with 0.00% for UVXY.
TTT is categorized as Leveraged Bonds, while UVXY is Volatility. TTT tracks Barclays Capital U.S. 20+ Year Treasury Index (-300%), while UVXY tracks S&P 500 VIX SHORT-TERM FUTURES TR (150%).
TTT currently has the higher Sharpe Ratio (0.44 vs -0.80), 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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