TTT vs. YCL
TTT (UltraPro Short 20+ Year Treasury) and YCL (ProShares Ultra Yen) are both exchange-traded funds - TTT is a Leveraged Bonds fund tracking the Barclays Capital U.S. 20+ Year Treasury Index (-300%), while YCL is a Leveraged Currency fund tracking the USD/JPY Exchange Rate (-200%). Both are passively managed. Over the past 10 years, TTT returned -0.85%/yr vs -13.37%/yr for YCL. At a correlation of -0.42, they often move in opposite directions. Both charge a 0.95% expense ratio.
Performance
TTT vs. YCL - Performance Comparison
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Returns By Period
In the year-to-date period, TTT achieves a 0.59% return, which is significantly higher than YCL's -7.56% return. Over the past 10 years, TTT has outperformed YCL with an annualized return of -0.85%, while YCL has yielded a comparatively lower -13.37% annualized return.
TTT
- 1D
- -0.36%
- 1M
- -6.09%
- YTD
- 0.59%
- 6M
- 2.13%
- 1Y
- -4.00%
- 3Y*
- 10.12%
- 5Y*
- 18.57%
- 10Y*
- -0.85%
YCL
- 1D
- 0.22%
- 1M
- -2.97%
- YTD
- -7.56%
- 6M
- -8.37%
- 1Y
- -22.14%
- 3Y*
- -13.96%
- 5Y*
- -19.30%
- 10Y*
- -13.37%
TTT vs. YCL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
TTT UltraPro Short 20+ Year Treasury | 0.59% | -7.89% | 38.07% | -11.25% | 150.17% | 2.55% | -54.12% | -34.88% | 6.34% | -25.87% |
YCL ProShares Ultra Yen | -7.56% | -6.34% | -25.97% | -20.46% | -26.92% | -20.94% | 7.16% | -2.99% | 0.17% | 3.48% |
Correlation
The correlation between TTT and YCL is -0.44, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.44 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.40 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.42 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.42 |
Correlation (All Time) Calculated using the full available price history since Mar 29, 2012 | -0.42 |
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Return for Risk
TTT vs. YCL — Risk / Return Rank
TTT
YCL
TTT vs. YCL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for UltraPro Short 20+ Year Treasury (TTT) and ProShares Ultra Yen (YCL). 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 | YCL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.21 | ||
| Sortino ratioReturn per unit of downside risk | +2.09 | ||
| Omega ratioGain probability vs. loss probability | 1.00 | 0.78 | +0.22 |
| Calmar ratioReturn relative to maximum drawdown | -0.18 | -0.90 | +0.72 |
| Martin ratioReturn relative to average drawdown | -0.34 | -1.35 | +1.02 |
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Drawdowns
TTT vs. YCL - Drawdown Comparison
The maximum TTT drawdown since its inception was -94.00%, which is greater than YCL's maximum drawdown of -88.39%. Use the drawdown chart below to compare losses from any high point for TTT and YCL.
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Drawdown Indicators
| TTT | YCL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -94.00% | -88.39% | -5.61% |
Max Drawdown (1Y)Largest decline over 1 year | -22.18% | -24.74% | +2.56% |
Max Drawdown (3Y)Largest decline over 3 years | -49.69% | -41.14% | -8.55% |
Max Drawdown (5Y)Largest decline over 5 years | -49.69% | -66.88% | +17.19% |
Max Drawdown (10Y)Largest decline over 10 years | -81.76% | -77.19% | -4.57% |
Current DrawdownCurrent decline from peak | -78.91% | -88.37% | +9.46% |
Average DrawdownAverage peak-to-trough decline | -70.37% | -53.21% | -17.16% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 11.89% | 16.38% | -4.49% |
Volatility
TTT vs. YCL - Volatility Comparison
UltraPro Short 20+ Year Treasury (TTT) has a higher volatility of 6.36% compared to ProShares Ultra Yen (YCL) at 1.35%. This indicates that TTT's price experiences larger fluctuations and is considered to be riskier than YCL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| TTT | YCL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.36% | 1.35% | +5.01% |
Volatility (6M)Calculated over the trailing 6-month period | 19.77% | 11.23% | +8.54% |
Volatility (1Y)Calculated over the trailing 1-year period | 28.33% | 16.43% | +11.90% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 47.02% | 20.51% | +26.51% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 43.32% | 18.45% | +24.87% |
TTT vs. YCL - Expense Ratio Comparison
Both TTT and YCL have an expense ratio of 0.95%.
Dividends
TTT vs. YCL - Dividend Comparison
TTT's dividend yield for the trailing twelve months is around 9.61%, while YCL has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
TTT UltraPro Short 20+ Year Treasury | 9.61% | 9.87% | 4.86% | 12.15% | 0.34% | 0.00% | 0.29% | 1.88% | 0.44% |
YCL ProShares Ultra Yen | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
TTT and YCL have a correlation of -0.44, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
TTT has higher volatility (6.36%) compared to YCL (1.35%). In terms of maximum drawdown, TTT dropped -94.00% vs YCL's -88.39%.
On 10-year performance, TTT leads with -0.85% vs -13.37% for YCL. Both ETFs have the same 0.95% expense ratio. On volatility, YCL has been the lower-risk option at 1.35%. 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 -0.85% return vs -13.37%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
TTT and YCL have the same expense ratio: 0.95% per year.
TTT has the higher dividend yield at 9.61%, compared with 0.00% for YCL.
TTT is categorized as Leveraged Bonds, while YCL is Leveraged Currency. TTT tracks Barclays Capital U.S. 20+ Year Treasury Index (-300%), while YCL tracks USD/JPY Exchange Rate (-200%).
TTT currently has the higher Sharpe Ratio (-0.14 vs -1.35), 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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