UJB vs. TMV
Compare and contrast key facts about ProShares Ultra High Yield (UJB) and Direxion Daily 20-Year Treasury Bear 3X (TMV).
UJB and TMV are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. UJB is a passively managed fund by ProShares that tracks the performance of the iBoxx $ Liquid High Yield Index (200%). It was launched on Apr 13, 2011. TMV is a passively managed fund by Direxion that tracks the performance of the NYSE 20 Year Plus Treasury Bond Index (-300%). It was launched on Apr 16, 2009. Both UJB and TMV are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Performance
UJB vs. TMV - Performance Comparison
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UJB vs. TMV - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
UJB ProShares Ultra High Yield | -1.70% | 12.22% | 9.41% | 17.70% | -23.27% | 6.96% | 5.19% | 26.68% | -6.08% | 11.77% |
TMV Direxion Daily 20-Year Treasury Bear 3X | 1.55% | -3.75% | 39.76% | -9.69% | 150.18% | 0.83% | -54.13% | -34.22% | 3.99% | -26.48% |
Returns By Period
In the year-to-date period, UJB achieves a -1.70% return, which is significantly lower than TMV's 1.55% return. Over the past 10 years, UJB has outperformed TMV with an annualized return of 6.73%, while TMV has yielded a comparatively lower -1.93% annualized return.
UJB
- 1D
- 1.90%
- 1M
- -2.13%
- YTD
- -1.70%
- 6M
- -0.35%
- 1Y
- 8.89%
- 3Y*
- 10.23%
- 5Y*
- 2.83%
- 10Y*
- 6.73%
TMV
- 1D
- 0.35%
- 1M
- 13.94%
- YTD
- 1.55%
- 6M
- 8.04%
- 1Y
- 10.47%
- 3Y*
- 15.75%
- 5Y*
- 16.67%
- 10Y*
- -1.93%
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UJB vs. TMV - Expense Ratio Comparison
UJB has a 1.27% expense ratio, which is higher than TMV's 1.04% expense ratio.
Return for Risk
UJB vs. TMV — Risk / Return Rank
UJB
TMV
UJB vs. TMV - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares Ultra High Yield (UJB) and Direxion Daily 20-Year Treasury Bear 3X (TMV). 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.
| UJB | TMV | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.82 | 0.31 | +0.51 |
Sortino ratioReturn per unit of downside risk | 1.26 | 0.71 | +0.56 |
Omega ratioGain probability vs. loss probability | 1.19 | 1.08 | +0.11 |
Calmar ratioReturn relative to maximum drawdown | 1.16 | 0.30 | +0.86 |
Martin ratioReturn relative to average drawdown | 5.81 | 0.53 | +5.28 |
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
| UJB | TMV | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.82 | 0.31 | +0.51 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.19 | 0.35 | -0.16 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.36 | -0.04 | +0.41 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.32 | -0.33 | +0.66 |
Correlation
The correlation between UJB and TMV is -0.07. This indicates that the assets' prices tend to move in opposite directions. Negative correlation can be particularly beneficial for diversification and risk management, as one asset may offset the losses of the other during market fluctuations.
Dividends
UJB vs. TMV - Dividend Comparison
UJB's dividend yield for the trailing twelve months is around 3.44%, more than TMV's 2.70% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
UJB ProShares Ultra High Yield | 3.44% | 2.61% | 3.02% | 3.92% | 0.05% | 0.63% | 2.88% | 3.95% | 3.22% | 2.67% | 2.35% | 3.62% |
TMV Direxion Daily 20-Year Treasury Bear 3X | 2.70% | 2.85% | 3.41% | 3.87% | 0.00% | 0.00% | 0.37% | 1.60% | 0.62% | 0.00% | 0.00% | 0.00% |
Drawdowns
UJB vs. TMV - Drawdown Comparison
The maximum UJB drawdown since its inception was -40.14%, smaller than the maximum TMV drawdown of -98.96%. Use the drawdown chart below to compare losses from any high point for UJB and TMV.
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Drawdown Indicators
| UJB | TMV | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -40.14% | -98.96% | +58.82% |
Max Drawdown (1Y)Largest decline over 1 year | -7.86% | -25.01% | +17.15% |
Max Drawdown (5Y)Largest decline over 5 years | -30.14% | -48.49% | +18.35% |
Max Drawdown (10Y)Largest decline over 10 years | -40.14% | -82.31% | +42.17% |
Current DrawdownCurrent decline from peak | -2.92% | -96.06% | +93.14% |
Average DrawdownAverage peak-to-trough decline | -6.23% | -86.50% | +80.27% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.57% | 14.04% | -12.47% |
Volatility
UJB vs. TMV - Volatility Comparison
The current volatility for ProShares Ultra High Yield (UJB) is 4.39%, while Direxion Daily 20-Year Treasury Bear 3X (TMV) has a volatility of 10.96%. This indicates that UJB experiences smaller price fluctuations and is considered to be less risky than TMV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| UJB | TMV | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.39% | 10.96% | -6.57% |
Volatility (6M)Calculated over the trailing 6-month period | 5.63% | 19.59% | -13.96% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.87% | 34.15% | -23.28% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.63% | 47.30% | -32.67% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.52% | 44.52% | -26.00% |