UBT vs. VT
UBT (ProShares Ultra 20+ Year Treasury) and VT (Vanguard Total World Stock ETF) are both exchange-traded funds - UBT is a Leveraged Bonds fund tracking the Barclays Capital U.S. 20+ Year Treasury Index (200%), while VT is a Global Equities fund tracking the FTSE Global All Cap Index. Both are passively managed. Over the past 10 years, UBT returned -9.26%/yr vs 12.39%/yr for VT. At a correlation of -0.23, they often move in opposite directions. UBT charges 0.95%/yr vs 0.06%/yr for VT.
Performance
UBT vs. VT - Performance Comparison
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Returns By Period
In the year-to-date period, UBT achieves a -5.35% return, which is significantly lower than VT's 11.12% return. Over the past 10 years, UBT has underperformed VT with an annualized return of -9.26%, while VT has yielded a comparatively higher 12.39% annualized return.
UBT
- 1D
- -1.15%
- 1M
- -3.39%
- 6M
- -6.26%
- YTD
- -5.35%
- 1Y
- -0.34%
- 3Y*
- -10.62%
- 5Y*
- -20.04%
- 10Y*
- -9.26%
VT
- 1D
- -1.15%
- 1M
- 0.05%
- 6M
- 7.92%
- YTD
- 11.12%
- 1Y
- 22.67%
- 3Y*
- 18.64%
- 5Y*
- 10.55%
- 10Y*
- 12.39%
UBT vs. VT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
UBT ProShares Ultra 20+ Year Treasury | -5.35% | 2.03% | -21.81% | -3.68% | -55.54% | -12.14% | 31.87% | 24.46% | -6.54% | 16.12% |
VT Vanguard Total World Stock ETF | 11.12% | 22.43% | 16.49% | 22.02% | -18.00% | 18.27% | 16.59% | 26.81% | -9.76% | 24.50% |
Correlation
The correlation between UBT and VT is 0.27, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.27 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.21 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.10 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.07 |
Correlation (All Time) Calculated using the full available price history since Jan 21, 2010 | -0.23 |
The correlation between UBT and VT shifts across timeframes, from -0.23 (all time) to 0.27 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
UBT vs. VT — Risk / Return Rank
UBT
VT
UBT vs. VT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares Ultra 20+ Year Treasury (UBT) and Vanguard Total World Stock ETF (VT). 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 | VT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.69 | ||
| Sortino ratioReturn per unit of downside risk | -2.22 | ||
| Omega ratioGain probability vs. loss probability | 1.01 | 1.30 | -0.29 |
| Calmar ratioReturn relative to maximum drawdown | -0.02 | 2.35 | -2.37 |
| Martin ratioReturn relative to average drawdown | -0.04 | 10.04 | -10.08 |
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Drawdowns
UBT vs. VT - Drawdown Comparison
The maximum UBT drawdown since its inception was -78.90%, which is greater than VT's maximum drawdown of -50.27%. Use the drawdown chart below to compare losses from any high point for UBT and VT.
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Drawdown Indicators
| UBT | VT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -78.90% | -50.27% | -28.63% |
Max Drawdown (1Y)Largest decline over 1 year | -16.86% | -9.67% | -7.19% |
Max Drawdown (3Y)Largest decline over 3 years | -35.81% | -16.51% | -19.30% |
Max Drawdown (5Y)Largest decline over 5 years | -72.49% | -26.38% | -46.11% |
Max Drawdown (10Y)Largest decline over 10 years | -78.90% | -34.24% | -44.66% |
Current DrawdownCurrent decline from peak | -77.30% | -1.87% | -75.43% |
Average DrawdownAverage peak-to-trough decline | -32.57% | -6.99% | -25.58% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 7.73% | 2.26% | +5.47% |
Volatility
UBT vs. VT - Volatility Comparison
ProShares Ultra 20+ Year Treasury (UBT) has a higher volatility of 5.91% compared to Vanguard Total World Stock ETF (VT) at 4.77%. This indicates that UBT's price experiences larger fluctuations and is considered to be riskier than VT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| UBT | VT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.91% | 4.77% | +1.14% |
Volatility (6M)Calculated over the trailing 6-month period | 13.46% | 11.47% | +1.99% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.75% | 13.68% | +5.07% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 31.20% | 16.20% | +15.00% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 29.18% | 17.16% | +12.02% |
UBT vs. VT - Expense Ratio Comparison
UBT has a 0.95% expense ratio, which is higher than VT's 0.06% expense ratio.
Dividends
UBT vs. VT - Dividend Comparison
UBT's dividend yield for the trailing twelve months is around 3.62%, more than VT's 1.59% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
UBT ProShares Ultra 20+ Year Treasury | 3.62% | 4.26% | 4.50% | 3.54% | 0.30% | 0.00% | 0.26% | 1.50% | 1.55% | 1.37% | 0.75% | 1.56% |
VT Vanguard Total World Stock ETF | 1.59% | 1.82% | 1.95% | 2.08% | 2.20% | 1.82% | 1.66% | 2.32% | 2.53% | 2.11% | 2.39% | 2.45% |
Frequently Asked Questions
UBT and VT have a correlation of 0.27, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
UBT has higher volatility (5.91%) compared to VT (4.77%). In terms of maximum drawdown, UBT dropped -78.90% vs VT's -50.27%.
On 10-year performance, VT leads with 12.39% vs -9.26% for UBT. On fees, VT is cheaper at 0.06% per year. On volatility, VT has been the lower-risk option at 4.77%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, VT has performed better with a 12.39% return vs -9.26%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
VT is cheaper with a 0.06% expense ratio, compared with 0.95% for UBT.
UBT has the higher dividend yield at 3.62%, compared with 1.59% for VT.
UBT is categorized as Leveraged Bonds, while VT is Global Equities. UBT tracks Barclays Capital U.S. 20+ Year Treasury Index (200%), while VT tracks FTSE Global All Cap Index. They also come from different issuers: ProShares and Vanguard. Their fees differ too: 0.95% for UBT and 0.06% for VT.
VT currently has the higher Sharpe Ratio (1.67 vs -0.02), 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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