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UST vs. TLT
Performance
Risk-Adjusted Performance
Dividends
Drawdowns
Volatility

Correlation

The correlation between UST and TLT is 0.90, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.


-0.50.00.51.00.9

Performance

UST vs. TLT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares Ultra 7-10 Year Treasury (UST) and iShares 20+ Year Treasury Bond ETF (TLT). The values are adjusted to include any dividend payments, if applicable.

-5.00%0.00%5.00%10.00%JulyAugustSeptemberOctoberNovemberDecember
-2.27%
-4.15%
UST
TLT

Key characteristics

Sharpe Ratio

UST:

-0.50

TLT:

-0.54

Sortino Ratio

UST:

-0.61

TLT:

-0.66

Omega Ratio

UST:

0.93

TLT:

0.93

Calmar Ratio

UST:

-0.15

TLT:

-0.17

Martin Ratio

UST:

-1.03

TLT:

-1.13

Ulcer Index

UST:

6.73%

TLT:

6.75%

Daily Std Dev

UST:

13.88%

TLT:

14.28%

Max Drawdown

UST:

-47.99%

TLT:

-48.35%

Current Drawdown

UST:

-42.70%

TLT:

-42.06%

Returns By Period

In the year-to-date period, UST achieves a -6.67% return, which is significantly higher than TLT's -7.02% return. Over the past 10 years, UST has underperformed TLT with an annualized return of -1.51%, while TLT has yielded a comparatively higher -0.87% annualized return.


UST

YTD

-6.67%

1M

-1.10%

6M

-2.37%

1Y

-6.14%

5Y*

-6.46%

10Y*

-1.51%

TLT

YTD

-7.02%

1M

-1.53%

6M

-3.76%

1Y

-6.64%

5Y*

-5.98%

10Y*

-0.87%

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UST vs. TLT - Expense Ratio Comparison

UST has a 0.95% expense ratio, which is higher than TLT's 0.15% expense ratio.


UST
ProShares Ultra 7-10 Year Treasury
Expense ratio chart for UST: current value at 0.95% compared with the broader market ranging from 0.00% to 2.12%.0.50%1.00%1.50%2.00%0.95%
Expense ratio chart for TLT: current value at 0.15% compared with the broader market ranging from 0.00% to 2.12%.0.50%1.00%1.50%2.00%0.15%

Risk-Adjusted Performance

UST vs. TLT - Risk-Adjusted Performance Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares Ultra 7-10 Year Treasury (UST) and iShares 20+ Year Treasury Bond ETF (TLT). 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.


Sharpe ratio
The chart of Sharpe ratio for UST, currently valued at -0.50, compared to the broader market0.002.004.00-0.50-0.54
The chart of Sortino ratio for UST, currently valued at -0.61, compared to the broader market-2.000.002.004.006.008.0010.00-0.61-0.66
The chart of Omega ratio for UST, currently valued at 0.93, compared to the broader market0.501.001.502.002.503.000.930.93
The chart of Calmar ratio for UST, currently valued at -0.15, compared to the broader market0.005.0010.0015.00-0.15-0.17
The chart of Martin ratio for UST, currently valued at -1.03, compared to the broader market0.0020.0040.0060.0080.00100.00-1.03-1.13
UST
TLT

The current UST Sharpe Ratio is -0.50, which is comparable to the TLT Sharpe Ratio of -0.54. The chart below compares the historical Sharpe Ratios of UST and TLT, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.


Rolling 12-month Sharpe Ratio-0.500.000.501.00JulyAugustSeptemberOctoberNovemberDecember
-0.50
-0.54
UST
TLT

Dividends

UST vs. TLT - Dividend Comparison

UST's dividend yield for the trailing twelve months is around 2.63%, less than TLT's 4.25% yield.


TTM20232022202120202019201820172016201520142013
UST
ProShares Ultra 7-10 Year Treasury
2.63%3.49%0.47%0.27%0.53%1.42%1.71%0.84%0.64%0.75%4.91%0.00%
TLT
iShares 20+ Year Treasury Bond ETF
4.25%3.38%2.67%1.50%1.50%2.27%2.63%2.43%2.60%2.61%2.67%3.26%

Drawdowns

UST vs. TLT - Drawdown Comparison

The maximum UST drawdown since its inception was -47.99%, roughly equal to the maximum TLT drawdown of -48.35%. Use the drawdown chart below to compare losses from any high point for UST and TLT. For additional features, visit the drawdowns tool.


-44.00%-42.00%-40.00%-38.00%-36.00%-34.00%JulyAugustSeptemberOctoberNovemberDecember
-42.70%
-42.06%
UST
TLT

Volatility

UST vs. TLT - Volatility Comparison

The current volatility for ProShares Ultra 7-10 Year Treasury (UST) is 3.53%, while iShares 20+ Year Treasury Bond ETF (TLT) has a volatility of 4.47%. This indicates that UST experiences smaller price fluctuations and is considered to be less risky than TLT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.


2.50%3.00%3.50%4.00%4.50%5.00%JulyAugustSeptemberOctoberNovemberDecember
3.53%
4.47%
UST
TLT
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Disclaimer

The information contained herein does not constitute investment advice and made available for educational purposes only. Prices and returns on equities are listed without consideration of fees, commissions, taxes, penalties, or interest payable due to purchasing, holding, or selling.

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