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 -13.42%/yr vs 1.47%/yr for TTT. Their -0.42 correlation means they have often moved in opposite directions in the past. 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 -5.82% return, which is significantly lower than TTT's 16.17% return. Over the past 10 years, YCL has underperformed TTT with an annualized return of -13.42%, while TTT has yielded a comparatively higher 1.47% annualized return.
YCL
- 1D
- 0.22%
- 1M
- 1.24%
- 6M
- -7.85%
- YTD
- -5.82%
- 1Y
- -18.77%
- 3Y*
- -13.30%
- 5Y*
- -19.30%
- 10Y*
- -13.42%
- ALL TIME*
- -9.77%
TTT
- 1D
- 2.51%
- 1M
- 13.81%
- 6M
- 14.99%
- YTD
- 16.17%
- 1Y
- 16.61%
- 3Y*
- 10.12%
- 5Y*
- 25.60%
- 10Y*
- 1.47%
- ALL TIME*
- -8.89%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $399.02K | $307.25K | $386.76K | |
| $965.32K | $858.06K | $714.31K |
YCL vs. TTT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
YCL ProShares Ultra Yen | -5.82% | -6.34% | -25.97% | -20.46% | -26.92% | -20.94% | 7.16% | -2.99% | 0.17% | 3.48% |
TTT UltraPro Short 20+ Year Treasury | 16.17% | -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 -0.38, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.38 |
Correlation (3Y) Balances recent behavior with more history. | -0.41 |
Correlation (5Y) Shows whether the relationship held over a longer period. | -0.42 |
Correlation (10Y) Provides a long-term view across more market conditions. | -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 | -1.35 | ||
| Sortino ratioReturn per unit of downside risk | -2.20 | ||
| Omega ratioGain probability vs. loss probability | 0.85 | 1.09 | -0.24 |
| Calmar ratioReturn relative to maximum drawdown | -0.65 | 0.62 | -1.27 |
| Martin ratioReturn relative to average drawdown | -1.03 | 1.24 | -2.27 |
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Drawdowns
YCL vs. TTT - Drawdown Comparison
The maximum YCL drawdown since its inception was -88.74%, 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 | -88.74% | -94.00% | +5.26% |
Max Drawdown (1Y)Largest decline over 1 year | -23.28% | -19.51% | -3.77% |
Max Drawdown (3Y)Largest decline over 3 years | -39.44% | -49.69% | +10.25% |
Max Drawdown (5Y)Largest decline over 5 years | -67.87% | -49.69% | -18.18% |
Max Drawdown (10Y)Largest decline over 10 years | -77.87% | -81.76% | +3.89% |
Current DrawdownCurrent decline from peak | -88.15% | -75.64% | -12.51% |
Average DrawdownAverage peak-to-trough decline | -53.42% | -70.43% | +17.01% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 14.60% | 9.78% | +4.82% |
Volatility
YCL vs. TTT - Volatility Comparison
The current volatility for ProShares Ultra Yen (YCL) is 5.60%, while UltraPro Short 20+ Year Treasury (TTT) has a volatility of 7.13%. 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 | 5.60% | 7.13% | -1.53% |
Volatility (6M)Calculated over the trailing 6-month period | 11.00% | 20.38% | -9.38% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.66% | 27.76% | -11.10% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 20.60% | 46.79% | -26.19% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.20% | 43.16% | -24.96% |
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 8.35%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
TTT UltraPro Short 20+ Year Treasury | 8.35% | 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 -0.38, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
TTT has higher volatility (7.13%) compared to YCL (5.60%). In terms of maximum drawdown, YCL dropped -88.74% vs TTT's -94.00%.
On 10-year performance, TTT leads with 1.47% vs -13.42% for YCL. Both ETFs have the same 0.95% expense ratio. On volatility, YCL has been the lower-risk option at 5.60%. 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 1.47% return vs -13.42%. 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 8.35%, 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 (0.44 vs -0.91), 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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