Direxion Daily 7-10 Year Treasury Bear 3X (TYO)

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The chart shows the growth of an initial investment of $10,000 in Direxion Daily 7-10 Year Treasury Bear 3X, comparing it to the performance of the S&P 500 index or another benchmark. All prices have been adjusted for splits and dividends.

Direxion Daily 7-10 Year Treasury Bear 3X (TYO) has returned 3.84% so far this year and 3.53% over the past 12 months. Over the last ten years, TYO has returned 1.01% per year, falling short of the S&P 500 Index benchmark, which averaged 12.16% annually.

Based on dividend-adjusted daily data since Apr 16, 2009, TYO's average daily return is -0.02%, while the average monthly return is -0.46%.

Historically, 45% of months were positive and 55% were negative. The best month was Dec 2009 with a return of +16.2%, while the worst month was Aug 2011 at -14.0%. The longest winning streak lasted 6 consecutive months, and the longest losing streak was 7 months.

On a daily basis, TYO closed higher 47% of trading days. The best single day was Mar 17, 2020 with a return of +6.7%, while the worst single day was Mar 16, 2020 at -7.2%.

Direxion Daily 7-10 Year Treasury Bear 3X has an annualized alpha of -9.08%, beta of 0.31, and R² of 0.07 versus S&P 500 Index. Calculated based on daily prices since April 17, 2009.

• This ETF participated in 28.96% of S&P 500 Index downside but only -11.94% of its upside — more exposed to losses than it benefited from rallies.
• Beta of 0.31 may look defensive, but with R² of 0.07 this ETF is largely uncorrelated with S&P 500 Index — low beta reflects independence, not downside protection. See the Volatility section for a true picture of this ETF's risk.
• R² of 0.07 means this ETF moves largely independently of S&P 500 Index — capture ratios reflect limited market correlation rather than active downside protection. Consider using a more representative benchmark.

TYO has a high expense ratio of 1.08%, indicating above-average management fees.

TYO ranks 16 for risk / return — in the bottom 16% of ETFs on our site. This means you're taking on significantly more risk than the returns justify. Consider whether the potential upside is worth the volatility, or explore alternatives with better risk / return profiles.

The table below present risk-adjusted performance metrics for Direxion Daily 7-10 Year Treasury Bear 3X (TYO) and compare them to a chosen benchmark (S&P 500 Index).

Direxion Daily 7-10 Year Treasury Bear 3X provided a 2.93% dividend yield over the last twelve months, with an annual payout of $0.40 per share.

The table displays the monthly dividend distributions for Direxion Daily 7-10 Year Treasury Bear 3X. The dividends shown in the table have been adjusted to account for any splits that may have occurred.

The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.

The table below displays the maximum drawdowns of the Direxion Daily 7-10 Year Treasury Bear 3X. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.

The maximum drawdown for the Direxion Daily 7-10 Year Treasury Bear 3X was 89.25%, occurring on Aug 4, 2020. The portfolio has not yet recovered.

The current Direxion Daily 7-10 Year Treasury Bear 3X drawdown is 78.07%.

The chart below shows the rolling one-month volatility.