UBT vs. MSFT
UBT (ProShares Ultra 20+ Year Treasury) is Leveraged Bonds fund tracking the ICE U.S. Treasury 20+ Year Bond Index (200% Daily), while MSFT (Microsoft Corporation) is a stock. Over the past 10 years, UBT returned -9.58%/yr vs 25.27%/yr for MSFT. Their -0.15 correlation means they have often moved in opposite directions in the past.
Performance
UBT vs. MSFT - Performance Comparison
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Returns By Period
In the year-to-date period, UBT achieves a -9.14% return, which is significantly lower than MSFT's 1.28% return. Over the past 10 years, UBT has underperformed MSFT with an annualized return of -9.58%, while MSFT has yielded a comparatively higher 25.27% annualized return.
UBT
- 1D
- 0.81%
- 1M
- -7.64%
- 6M
- -8.31%
- YTD
- -9.14%
- 1Y
- -9.25%
- 3Y*
- -9.00%
- 5Y*
- -21.58%
- 10Y*
- -9.58%
- ALL TIME*
- 0.30%
MSFT
- 1D
- 4.93%
- 1M
- 24.88%
- 6M
- 15.70%
- YTD
- 1.28%
- 1Y
- -6.21%
- 3Y*
- 15.05%
- 5Y*
- 12.14%
- 10Y*
- 25.27%
- ALL TIME*
- 25.30%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $19.49B | $15.54B | $16.66B | |
| $607.37K | $624.24K | $851.60K |
UBT vs. MSFT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
UBT ProShares Ultra 20+ Year Treasury | -9.14% | 2.03% | -21.81% | -3.68% | -55.54% | -12.14% | 31.87% | 24.46% | -6.54% | 16.12% |
MSFT Microsoft Corporation | 1.28% | 15.58% | 12.93% | 58.19% | -28.02% | 52.48% | 42.53% | 57.56% | 20.80% | 40.73% |
Correlation
The correlation between UBT and MSFT is 0.04, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.04 |
Correlation (3Y) Balances recent behavior with more history. | 0.02 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.04 |
Correlation (10Y) Provides a long-term view across more market conditions. | -0.03 |
Correlation (All Time) Calculated using the full available price history since Jan 21, 2010 | -0.15 |
The correlation between UBT and MSFT shifts across timeframes, from -0.15 (all time) to 0.04 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
UBT vs. MSFT — Risk / Return Rank
UBT
MSFT
UBT vs. MSFT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares Ultra 20+ Year Treasury (UBT) and Microsoft Corporation (MSFT). 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.
| UBT | MSFT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.31 | ||
| Sortino ratioReturn per unit of downside risk | -0.54 | ||
| Omega ratioGain probability vs. loss probability | 0.93 | 0.99 | -0.06 |
| Calmar ratioReturn relative to maximum drawdown | -0.51 | -0.18 | -0.33 |
| Martin ratioReturn relative to average drawdown | -1.08 | -0.32 | -0.76 |
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Drawdowns
UBT vs. MSFT - Drawdown Comparison
The maximum UBT drawdown since its inception was -78.90%, which is greater than MSFT's maximum drawdown of -69.38%. Use the drawdown chart below to compare losses from any high point for UBT and MSFT.
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Drawdown Indicators
| UBT | MSFT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -78.90% | -69.38% | -9.52% |
Max Drawdown (1Y)Largest decline over 1 year | -18.25% | -34.50% | +16.25% |
Max Drawdown (3Y)Largest decline over 3 years | -31.18% | -34.50% | +3.32% |
Max Drawdown (5Y)Largest decline over 5 years | -72.49% | -37.15% | -35.34% |
Max Drawdown (10Y)Largest decline over 10 years | -78.90% | -37.15% | -41.75% |
Current DrawdownCurrent decline from peak | -78.21% | -9.47% | -68.74% |
Average DrawdownAverage peak-to-trough decline | -32.73% | -21.80% | -10.93% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 8.58% | 19.36% | -10.78% |
Volatility
UBT vs. MSFT - Volatility Comparison
The current volatility for ProShares Ultra 20+ Year Treasury (UBT) is 5.23%, while Microsoft Corporation (MSFT) has a volatility of 16.43%. This indicates that UBT experiences smaller price fluctuations and is considered to be less risky than MSFT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| UBT | MSFT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.23% | 16.43% | -11.20% |
Volatility (6M)Calculated over the trailing 6-month period | 13.51% | 26.83% | -13.32% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.34% | 32.08% | -13.74% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 31.09% | 28.09% | +3.00% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 29.18% | 27.67% | +1.51% |
Dividends
UBT vs. MSFT - Dividend Comparison
UBT's dividend yield for the trailing twelve months is around 3.77%, more than MSFT's 0.73% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
MSFT Microsoft Corporation | 0.73% | 0.70% | 0.73% | 0.74% | 1.06% | 0.68% | 0.94% | 1.20% | 1.69% | 1.86% | 2.37% | 2.33% |
UBT ProShares Ultra 20+ Year Treasury | 3.77% | 4.26% | 4.50% | 3.54% | 0.30% | 0.00% | 0.26% | 1.50% | 1.55% | 1.37% | 0.75% | 1.56% |
Frequently Asked Questions
UBT and MSFT have a correlation of 0.04, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
MSFT has higher volatility (16.43%) compared to UBT (5.23%). In terms of maximum drawdown, UBT dropped -78.90% vs MSFT's -69.38%.
MSFT currently has the higher Sharpe Ratio (-0.19 vs -0.51), 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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