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 -13.39%/yr vs -0.81%/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 -7.76% return, which is significantly lower than TTT's 0.95% return. Over the past 10 years, YCL has underperformed TTT with an annualized return of -13.39%, while TTT has yielded a comparatively higher -0.81% annualized return.
YCL
- 1D
- -0.49%
- 1M
- -3.19%
- YTD
- -7.76%
- 6M
- -7.91%
- 1Y
- -22.35%
- 3Y*
- -14.02%
- 5Y*
- -19.29%
- 10Y*
- -13.39%
TTT
- 1D
- 1.82%
- 1M
- -5.76%
- YTD
- 0.95%
- 6M
- 1.96%
- 1Y
- -4.56%
- 3Y*
- 10.25%
- 5Y*
- 18.56%
- 10Y*
- -0.81%
YCL vs. TTT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
YCL ProShares Ultra Yen | -7.76% | -6.34% | -25.97% | -20.46% | -26.92% | -20.94% | 7.16% | -2.99% | 0.17% | 3.48% |
TTT UltraPro Short 20+ Year Treasury | 0.95% | -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 -0.44, 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 | -0.40 |
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 | -1.20 | ||
| Sortino ratioReturn per unit of downside risk | -2.08 | ||
| Omega ratioGain probability vs. loss probability | 0.77 | 1.00 | -0.22 |
| Calmar ratioReturn relative to maximum drawdown | -0.91 | -0.21 | -0.70 |
| Martin ratioReturn relative to average drawdown | -1.37 | -0.38 | -0.99 |
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Drawdowns
YCL vs. TTT - Drawdown Comparison
The maximum YCL drawdown since its inception was -88.39%, 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 | -88.39% | -94.00% | +5.61% |
Max Drawdown (1Y)Largest decline over 1 year | -24.74% | -22.18% | -2.56% |
Max Drawdown (3Y)Largest decline over 3 years | -41.14% | -49.69% | +8.55% |
Max Drawdown (5Y)Largest decline over 5 years | -66.88% | -49.69% | -17.19% |
Max Drawdown (10Y)Largest decline over 10 years | -77.19% | -81.76% | +4.57% |
Current DrawdownCurrent decline from peak | -88.39% | -78.83% | -9.56% |
Average DrawdownAverage peak-to-trough decline | -53.20% | -70.37% | +17.17% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 16.31% | 11.88% | +4.43% |
Volatility
YCL vs. TTT - Volatility Comparison
The current volatility for ProShares Ultra Yen (YCL) is 1.29%, while UltraPro Short 20+ Year Treasury (TTT) has a volatility of 6.37%. 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 | 1.29% | 6.37% | -5.08% |
Volatility (6M)Calculated over the trailing 6-month period | 11.22% | 19.81% | -8.59% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.46% | 28.38% | -11.92% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 20.51% | 47.02% | -26.51% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.57% | 43.39% | -24.82% |
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 9.58%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
TTT UltraPro Short 20+ Year Treasury | 9.58% | 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 -0.44, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
TTT has higher volatility (6.37%) compared to YCL (1.29%). In terms of maximum drawdown, YCL dropped -88.39% vs TTT's -94.00%.
On 10-year performance, TTT leads with -0.81% vs -13.39% for YCL. Both ETFs have the same 0.95% expense ratio. On volatility, YCL has been the lower-risk option at 1.29%. 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 -0.81% return vs -13.39%. 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 9.58%, 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 (-0.16 vs -1.37), 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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