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 -1.30%/yr vs -12.51%/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 2.52% return, which is significantly higher than YCL's -5.83% return. Over the past 10 years, TTT has outperformed YCL with an annualized return of -1.30%, while YCL has yielded a comparatively lower -12.51% annualized return.
TTT
- 1D
- -0.75%
- 1M
- -0.84%
- YTD
- 2.52%
- 6M
- 8.18%
- 1Y
- -7.12%
- 3Y*
- 9.61%
- 5Y*
- 16.11%
- 10Y*
- -1.30%
YCL
- 1D
- -0.34%
- 1M
- -3.82%
- YTD
- -5.83%
- 6M
- -7.72%
- 1Y
- -24.77%
- 3Y*
- -15.08%
- 5Y*
- -19.19%
- 10Y*
- -12.51%
TTT vs. YCL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
TTT UltraPro Short 20+ Year Treasury | 2.52% | -7.89% | 38.07% | -11.25% | 150.17% | 2.55% | -54.12% | -34.88% | 6.34% | -25.87% |
YCL ProShares Ultra Yen | -5.83% | -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 -0.45, 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 | -0.45 |
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 | -0.43 |
Correlation (All Time) Calculated using the full available price history since Mar 30, 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.
| TTT | YCL | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | -0.24 | -1.48 | +1.24 |
Sortino ratioReturn per unit of downside risk | -0.15 | -2.30 | +2.15 |
Omega ratioGain probability vs. loss probability | 0.98 | 0.76 | +0.23 |
Calmar ratioReturn relative to maximum drawdown | -0.21 | -0.95 | +0.74 |
Martin ratioReturn relative to average drawdown | -0.40 | -1.40 | +1.00 |
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 | YCL | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.24 | -1.48 | +1.24 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.34 | -0.94 | +1.28 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | -0.03 | -0.67 | +0.64 |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.23 | -0.50 | +0.27 |
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 -88.15%. 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% | -88.15% | -5.85% |
Max Drawdown (1Y)Largest decline over 1 year | -22.51% | -24.55% | +2.04% |
Max Drawdown (3Y)Largest decline over 3 years | -49.69% | -39.91% | -9.78% |
Max Drawdown (5Y)Largest decline over 5 years | -49.69% | -66.19% | +16.50% |
Max Drawdown (10Y)Largest decline over 10 years | -81.76% | -76.71% | -5.05% |
Current DrawdownCurrent decline from peak | -78.50% | -88.15% | +9.65% |
Average DrawdownAverage peak-to-trough decline | -70.36% | -53.11% | -17.25% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 12.12% | 16.96% | -4.84% |
Volatility
TTT vs. YCL - Volatility Comparison
UltraPro Short 20+ Year Treasury (TTT) has a higher volatility of 8.87% compared to ProShares Ultra Yen (YCL) at 2.72%. 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 | 8.87% | 2.72% | +6.15% |
Volatility (6M)Calculated over the trailing 6-month period | 19.79% | 11.63% | +8.16% |
Volatility (1Y)Calculated over the trailing 1-year period | 29.35% | 16.88% | +12.47% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 47.18% | 20.53% | +26.65% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 43.39% | 18.61% | +24.78% |
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 9.43%, while YCL has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
TTT UltraPro Short 20+ Year Treasury | 9.43% | 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 -0.45, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
TTT has higher volatility (8.87%) compared to YCL (2.72%). In terms of maximum drawdown, TTT dropped -94.00% vs YCL's -88.15%.
On 10-year performance, TTT leads with -1.30% vs -12.51% for YCL. Both ETFs have the same 0.95% expense ratio. On volatility, YCL has been the lower-risk option at 2.72%. 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 -1.30% return vs -12.51%. 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 9.43%, 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 (-0.24 vs -1.48), 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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