^DXY vs. ^TNX

Last updated Apr 2, 2026

Compare and contrast key facts about US Dollar Currency Index (^DXY) and Treasury Yield 10 Years (^TNX).

Performance

^DXY vs. ^TNX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in US Dollar Currency Index (^DXY) and Treasury Yield 10 Years (^TNX). The values are adjusted to include any dividend payments, if applicable.

^DXY vs. ^TNX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
^DXY US Dollar Currency Index	1.27%	-9.37%	7.06%	-2.11%	7.87%	6.71%	-6.69%	0.22%	4.40%	-9.87%
^TNX Treasury Yield 10 Years	3.75%	-8.97%	18.29%	-0.34%	156.55%	64.89%	-52.21%	-28.56%	11.68%	-1.68%

Returns By Period

In the year-to-date period, ^DXY achieves a 1.27% return, which is significantly lower than ^TNX's 3.75% return. Over the past 10 years, ^DXY has underperformed ^TNX with an annualized return of 0.51%, while ^TNX has yielded a comparatively higher 9.20% annualized return.

^DXY

• 1D: -0.39%
• 1M: 1.21%
• YTD: 1.27%
• 6M: 1.91%
• 1Y: -4.50%
• 3Y*: -0.96%
• 5Y*: 1.37%
• 10Y*: 0.51%

^TNX

• 1D: 0.19%
• 1M: 6.69%
• YTD: 3.75%
• 6M: 5.19%
• 1Y: 3.92%
• 3Y*: 7.32%
• 5Y*: 20.80%
• 10Y*: 9.20%

*Multi-year figures are annualized to reflect compound growth (CAGR)

Return for Risk

^DXY vs. ^TNX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

^DXY

^DXY Risk / Return Rank: 1
^DXY Sharpe Ratio Rank: 1
^DXY Sortino Ratio Rank: 0
^DXY Omega Ratio Rank: 1
^DXY Calmar Ratio Rank: 0
^DXY Martin Ratio Rank: 5

^TNX

^TNX Risk / Return Rank: 22
^TNX Sharpe Ratio Rank: 26
^TNX Sortino Ratio Rank: 23
^TNX Omega Ratio Rank: 22
^TNX Calmar Ratio Rank: 19
^TNX Martin Ratio Rank: 18

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

^DXY vs. ^TNX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for US Dollar Currency Index (^DXY) and Treasury Yield 10 Years (^TNX). 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.

	^DXY	^TNX	Difference
Sharpe ratio Return per unit of total volatility	-0.62	0.22	-0.84
Sortino ratio Return per unit of downside risk	-0.80	0.45	-1.25
Omega ratio Gain probability vs. loss probability	0.90	1.05	-0.15
Calmar ratio Return relative to maximum drawdown	-0.59	0.12	-0.71
Martin ratio Return relative to average drawdown	-1.01	0.21	-1.22
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

^DXY vs. ^TNX - Sharpe Ratio Comparison

The current ^DXY Sharpe Ratio is -0.62, which is lower than the ^TNX Sharpe Ratio of 0.22. The chart below compares the historical Sharpe Ratios of ^DXY and ^TNX, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	^DXY	^TNX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.62	0.22	-0.84
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.19	0.63	-0.44
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.08	0.19	-0.12
Sharpe Ratio (All Time) Calculated using the full available price history	-0.08	-0.02	-0.05

Correlation

The correlation between ^DXY and ^TNX is 0.11, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Drawdowns

^DXY vs. ^TNX - Drawdown Comparison

The maximum ^DXY drawdown since its inception was -45.13%, smaller than the maximum ^TNX drawdown of -93.78%. Use the drawdown chart below to compare losses from any high point for ^DXY and ^TNX.

Drawdown Indicators

	^DXY	^TNX	Difference
Max Drawdown Largest peak-to-trough decline	-45.13%	-93.78%	+48.65%
Max Drawdown (1Y) Largest decline over 1 year	-7.31%	-13.99%	+6.68%
Max Drawdown (5Y) Largest decline over 5 years	-15.68%	-31.74%	+16.06%
Max Drawdown (10Y) Largest decline over 10 years	-15.68%	-84.57%	+68.89%
Current Drawdown Current decline from peak	-23.41%	-46.17%	+22.76%
Average Drawdown Average peak-to-trough decline	-28.18%	-51.38%	+23.20%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.20%	8.39%	-5.19%

Volatility

^DXY vs. ^TNX - Volatility Comparison

The current volatility for US Dollar Currency Index (^DXY) is 2.19%, while Treasury Yield 10 Years (^TNX) has a volatility of 5.89%. This indicates that ^DXY experiences smaller price fluctuations and is considered to be less risky than ^TNX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	^DXY	^TNX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.19%	5.89%	-3.70%
Volatility (6M) Calculated over the trailing 6-month period	3.98%	10.58%	-6.60%
Volatility (1Y) Calculated over the trailing 1-year period	7.05%	17.89%	-10.84%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	7.00%	32.96%	-25.96%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	6.53%	48.18%	-41.65%