UJB vs. TTT
UJB (ProShares Ultra High Yield) and TTT (UltraPro Short 20+ Year Treasury) are both Leveraged Bonds funds from ProShares - UJB tracks the Markit iBoxx $ Liquid High Yield Index while TTT tracks the Barclays Capital U.S. 20+ Year Treasury Index (-300%). Both are passively managed. Over the past 10 years, UJB returned 5.93%/yr vs 0.59%/yr for TTT. At a correlation of -0.10, they often move in opposite directions. Both charge a 0.95% expense ratio.
Performance
UJB vs. TTT - Performance Comparison
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Returns By Period
In the year-to-date period, UJB achieves a 1.71% return, which is significantly lower than TTT's 7.59% return. Over the past 10 years, UJB has outperformed TTT with an annualized return of 5.93%, while TTT has yielded a comparatively lower 0.59% annualized return.
UJB
- 1D
- 0.22%
- 1M
- 0.20%
- 6M
- 0.86%
- YTD
- 1.71%
- 1Y
- 7.12%
- 3Y*
- 10.99%
- 5Y*
- 2.88%
- 10Y*
- 5.93%
TTT
- 1D
- 0.27%
- 1M
- 7.04%
- 6M
- 11.68%
- YTD
- 7.59%
- 1Y
- -2.74%
- 3Y*
- 10.58%
- 5Y*
- 22.85%
- 10Y*
- 0.59%
UJB vs. TTT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
UJB ProShares Ultra High Yield | 1.71% | 12.22% | 9.41% | 17.70% | -23.27% | 6.96% | 5.19% | 26.68% | -6.08% | 11.77% |
TTT UltraPro Short 20+ Year Treasury | 7.59% | -7.89% | 38.07% | -11.25% | 150.17% | 2.55% | -54.12% | -34.88% | 6.34% | -25.87% |
Correlation
The correlation between UJB and TTT 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 | -0.52 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.40 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.16 |
Correlation (All Time) Calculated using the full available price history since Mar 29, 2012 | -0.10 |
Over the past year, the inverse relationship between UJB and TTT has strengthened: their correlation has moved from -0.10 to -0.44, meaning they now move in opposite directions more often than their long-term average.
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Return for Risk
UJB vs. TTT — Risk / Return Rank
UJB
TTT
UJB vs. TTT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares Ultra High Yield (UJB) and UltraPro Short 20+ Year Treasury (TTT). 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.
| UJB | TTT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.08 | ||
| Sortino ratioReturn per unit of downside risk | +1.42 | ||
| Omega ratioGain probability vs. loss probability | 1.19 | 1.01 | +0.18 |
| Calmar ratioReturn relative to maximum drawdown | 1.43 | -0.13 | +1.55 |
| Martin ratioReturn relative to average drawdown | 6.02 | -0.23 | +6.26 |
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Drawdowns
UJB vs. TTT - Drawdown Comparison
The maximum UJB drawdown since its inception was -40.14%, smaller than the maximum TTT drawdown of -94.00%. Use the drawdown chart below to compare losses from any high point for UJB and TTT.
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Drawdown Indicators
| UJB | TTT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -40.14% | -94.00% | +53.86% |
Max Drawdown (1Y)Largest decline over 1 year | -5.01% | -21.80% | +16.79% |
Max Drawdown (3Y)Largest decline over 3 years | -9.47% | -49.69% | +40.22% |
Max Drawdown (5Y)Largest decline over 5 years | -30.14% | -49.69% | +19.55% |
Max Drawdown (10Y)Largest decline over 10 years | -40.14% | -81.76% | +41.62% |
Current DrawdownCurrent decline from peak | -0.07% | -77.44% | +77.37% |
Average DrawdownAverage peak-to-trough decline | -6.13% | -70.41% | +64.28% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.18% | 12.09% | -10.91% |
Volatility
UJB vs. TTT - Volatility Comparison
The current volatility for ProShares Ultra High Yield (UJB) is 1.28%, while UltraPro Short 20+ Year Treasury (TTT) has a volatility of 7.56%. This indicates that UJB experiences smaller price fluctuations and is considered to be less risky than TTT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| UJB | TTT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.28% | 7.56% | -6.28% |
Volatility (6M)Calculated over the trailing 6-month period | 5.93% | 20.24% | -14.31% |
Volatility (1Y)Calculated over the trailing 1-year period | 7.26% | 27.84% | -20.58% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.68% | 46.91% | -32.23% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.68% | 43.16% | -25.48% |
UJB vs. TTT - Expense Ratio Comparison
Both UJB and TTT have an expense ratio of 0.95%.
Dividends
UJB vs. TTT - Dividend Comparison
UJB's dividend yield for the trailing twelve months is around 3.17%, less than TTT's 9.01% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
TTT UltraPro Short 20+ Year Treasury | 9.01% | 9.87% | 4.86% | 12.15% | 0.34% | 0.00% | 0.29% | 1.88% | 0.44% | 0.00% | 0.00% | 0.00% |
UJB ProShares Ultra High Yield | 3.17% | 2.61% | 3.02% | 3.92% | 0.05% | 0.63% | 2.88% | 3.95% | 3.22% | 2.67% | 2.35% | 3.62% |
Frequently Asked Questions
UJB and TTT 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 (7.56%) compared to UJB (1.28%). In terms of maximum drawdown, UJB dropped -40.14% vs TTT's -94.00%.
On 10-year performance, UJB leads with 5.93% vs 0.59% for TTT. Both ETFs have the same 0.95% expense ratio. On volatility, UJB has been the lower-risk option at 1.28%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, UJB has performed better with a 5.93% return vs 0.59%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
UJB and TTT have the same expense ratio: 0.95% per year.
TTT has the higher dividend yield at 9.01%, compared with 3.17% for UJB.
UJB tracks Markit iBoxx $ Liquid High Yield Index, while TTT tracks Barclays Capital U.S. 20+ Year Treasury Index (-300%).
UJB currently has the higher Sharpe Ratio (0.99 vs -0.10), 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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