YCL vs. TTT
YCL (ProShares Ultra Yen) and TTT (UltraPro Short 20+ Year Treasury) are both exchange-traded funds - YCL is a Leveraged Currency fund tracking the USD/JPY Exchange Rate (-200%), while TTT is a Leveraged Bonds fund tracking the Barclays Capital U.S. 20+ Year Treasury Index (-300%). Both are passively managed. Over the past 10 years, YCL returned -12.94%/yr vs 0.71%/yr for TTT. At a correlation of -0.42, they often move in opposite directions. Both charge a 0.95% expense ratio.
Performance
YCL vs. TTT - Performance Comparison
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Returns By Period
In the year-to-date period, YCL achieves a -8.97% return, which is significantly lower than TTT's 8.27% return. Over the past 10 years, YCL has underperformed TTT with an annualized return of -12.94%, while TTT has yielded a comparatively higher 0.71% annualized return.
YCL
- 1D
- -0.88%
- 1M
- -2.80%
- 6M
- -7.23%
- YTD
- -8.97%
- 1Y
- -21.77%
- 3Y*
- -16.23%
- 5Y*
- -19.78%
- 10Y*
- -12.94%
TTT
- 1D
- 1.71%
- 1M
- 5.70%
- 6M
- 9.78%
- YTD
- 8.27%
- 1Y
- 0.44%
- 3Y*
- 10.81%
- 5Y*
- 22.32%
- 10Y*
- 0.71%
YCL vs. TTT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
YCL ProShares Ultra Yen | -8.97% | -6.34% | -25.97% | -20.46% | -26.92% | -20.94% | 7.16% | -2.99% | 0.17% | 3.48% |
TTT UltraPro Short 20+ Year Treasury | 8.27% | -7.89% | 38.07% | -11.25% | 150.17% | 2.55% | -54.12% | -34.88% | 6.34% | -25.87% |
Correlation
The correlation between YCL and TTT is -0.40, 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 | -0.40 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.40 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.42 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.42 |
Correlation (All Time) Calculated using the full available price history since Mar 29, 2012 | -0.42 |
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Return for Risk
YCL vs. TTT — Risk / Return Rank
YCL
TTT
YCL vs. TTT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares Ultra Yen (YCL) 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.
| YCL | TTT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.36 | ||
| Sortino ratioReturn per unit of downside risk | -2.31 | ||
| Omega ratioGain probability vs. loss probability | 0.78 | 1.03 | -0.25 |
| Calmar ratioReturn relative to maximum drawdown | -0.96 | 0.02 | -0.98 |
| Martin ratioReturn relative to average drawdown | -1.53 | 0.04 | -1.57 |
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Drawdowns
YCL vs. TTT - Drawdown Comparison
The maximum YCL drawdown since its inception was -88.56%, smaller than the maximum TTT drawdown of -94.00%. Use the drawdown chart below to compare losses from any high point for YCL and TTT.
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Drawdown Indicators
| YCL | TTT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -88.56% | -94.00% | +5.44% |
Max Drawdown (1Y)Largest decline over 1 year | -22.69% | -22.18% | -0.51% |
Max Drawdown (3Y)Largest decline over 3 years | -41.33% | -49.69% | +8.36% |
Max Drawdown (5Y)Largest decline over 5 years | -67.35% | -49.69% | -17.66% |
Max Drawdown (10Y)Largest decline over 10 years | -77.51% | -81.76% | +4.25% |
Current DrawdownCurrent decline from peak | -88.54% | -77.29% | -11.25% |
Average DrawdownAverage peak-to-trough decline | -53.31% | -70.40% | +17.09% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 14.25% | 12.12% | +2.13% |
Volatility
YCL vs. TTT - Volatility Comparison
The current volatility for ProShares Ultra Yen (YCL) is 3.15%, while UltraPro Short 20+ Year Treasury (TTT) has a volatility of 8.57%. This indicates that YCL 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
| YCL | TTT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.15% | 8.57% | -5.42% |
Volatility (6M)Calculated over the trailing 6-month period | 11.18% | 20.35% | -9.17% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.30% | 27.99% | -11.69% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 20.52% | 46.97% | -26.45% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.32% | 43.18% | -24.86% |
YCL vs. TTT - Expense Ratio Comparison
Both YCL and TTT have an expense ratio of 0.95%.
Dividends
YCL vs. TTT - Dividend Comparison
YCL has not paid dividends to shareholders, while TTT's dividend yield for the trailing twelve months is around 8.96%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
TTT UltraPro Short 20+ Year Treasury | 8.96% | 9.87% | 4.86% | 12.15% | 0.34% | 0.00% | 0.29% | 1.88% | 0.44% |
YCL ProShares Ultra Yen | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
YCL and TTT have a correlation of -0.40, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
TTT has higher volatility (8.57%) compared to YCL (3.15%). In terms of maximum drawdown, YCL dropped -88.56% vs TTT's -94.00%.
On 10-year performance, TTT leads with 0.71% vs -12.94% for YCL. Both ETFs have the same 0.95% expense ratio. On volatility, YCL has been the lower-risk option at 3.15%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, TTT has performed better with a 0.71% return vs -12.94%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
YCL and TTT have the same expense ratio: 0.95% per year.
TTT has the higher dividend yield at 8.96%, compared with 0.00% for YCL.
YCL is categorized as Leveraged Currency, while TTT is Leveraged Bonds. YCL tracks USD/JPY Exchange Rate (-200%), while TTT tracks Barclays Capital U.S. 20+ Year Treasury Index (-300%).
TTT currently has the higher Sharpe Ratio (0.02 vs -1.34), 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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