^TNX vs. ^FVX

Last updated Apr 3, 2026

Compare and contrast key facts about Treasury Yield 10 Years (^TNX) and Treasury Yield 5 Years (^FVX).

Performance

^TNX vs. ^FVX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Treasury Yield 10 Years (^TNX) and Treasury Yield 5 Years (^FVX). The values are adjusted to include any dividend payments, if applicable.

^TNX vs. ^FVX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
^TNX Treasury Yield 10 Years	3.60%	-8.97%	18.29%	-0.34%	156.55%	64.89%	-52.21%	-28.56%	11.68%	-1.68%
^FVX Treasury Yield 5 Years	6.07%	-15.02%	14.06%	-4.00%	216.71%	249.86%	-78.68%	-32.55%	13.78%	14.06%

Returns By Period

In the year-to-date period, ^TNX achieves a 3.60% return, which is significantly lower than ^FVX's 6.07% return. Over the past 10 years, ^TNX has underperformed ^FVX with an annualized return of 9.26%, while ^FVX has yielded a comparatively higher 12.42% annualized return.

^TNX

• 1D: -0.14%
• 1M: 6.34%
• YTD: 3.60%
• 6M: 5.50%
• 1Y: 2.79%
• 3Y*: 7.93%
• 5Y*: 20.77%
• 10Y*: 9.26%

^FVX

• 1D: -0.18%
• 1M: 8.73%
• YTD: 6.07%
• 6M: 7.49%
• 1Y: -0.08%
• 3Y*: 3.81%
• 5Y*: 34.20%
• 10Y*: 12.42%

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

Return for Risk

^TNX vs. ^FVX — Risk / Return Rank

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

^TNX

^TNX Risk / Return Rank: 20
^TNX Sharpe Ratio Rank: 20
^TNX Sortino Ratio Rank: 19
^TNX Omega Ratio Rank: 18
^TNX Calmar Ratio Rank: 23
^TNX Martin Ratio Rank: 22

^FVX

^FVX Risk / Return Rank: 15
^FVX Sharpe Ratio Rank: 15
^FVX Sortino Ratio Rank: 15
^FVX Omega Ratio Rank: 15
^FVX Calmar Ratio Rank: 16
^FVX Martin Ratio Rank: 16

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.

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

This table presents a comparison of risk-adjusted performance metrics for Treasury Yield 10 Years (^TNX) and Treasury Yield 5 Years (^FVX). 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.

	^TNX	^FVX	Difference
Sharpe ratio Return per unit of total volatility	0.16	-0.00	+0.16
Sortino ratio Return per unit of downside risk	0.36	0.15	+0.21
Omega ratio Gain probability vs. loss probability	1.04	1.02	+0.02
Calmar ratio Return relative to maximum drawdown	0.27	0.06	+0.21
Martin ratio Return relative to average drawdown	0.45	0.11	+0.34
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

^TNX vs. ^FVX - Sharpe Ratio Comparison

The current ^TNX Sharpe Ratio is 0.16, which is higher than the ^FVX Sharpe Ratio of -0.00. The chart below compares the historical Sharpe Ratios of ^TNX and ^FVX, 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

	^TNX	^FVX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.16	-0.00	+0.16
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.63	0.86	-0.23
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.19	0.21	-0.02
Sharpe Ratio (All Time) Calculated using the full available price history	-0.02	-0.02	-0.01

Correlation

The correlation between ^TNX and ^FVX is 0.93, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Drawdowns

^TNX vs. ^FVX - Drawdown Comparison

The maximum ^TNX drawdown since its inception was -93.78%, roughly equal to the maximum ^FVX drawdown of -97.53%. Use the drawdown chart below to compare losses from any high point for ^TNX and ^FVX.

Drawdown Indicators

	^TNX	^FVX	Difference
Max Drawdown Largest peak-to-trough decline	-93.78%	-97.53%	+3.75%
Max Drawdown (1Y) Largest decline over 1 year	-13.99%	-15.62%	+1.63%
Max Drawdown (5Y) Largest decline over 5 years	-31.74%	-31.36%	-0.38%
Max Drawdown (10Y) Largest decline over 10 years	-84.57%	-93.69%	+9.12%
Current Drawdown Current decline from peak	-46.24%	-50.00%	+3.76%
Average Drawdown Average peak-to-trough decline	-51.38%	-56.58%	+5.20%
Ulcer Index Depth and duration of drawdowns from previous peaks	8.40%	9.26%	-0.86%

Volatility

^TNX vs. ^FVX - Volatility Comparison

The current volatility for Treasury Yield 10 Years (^TNX) is 5.90%, while Treasury Yield 5 Years (^FVX) has a volatility of 7.45%. This indicates that ^TNX experiences smaller price fluctuations and is considered to be less risky than ^FVX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	^TNX	^FVX	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.90%	7.45%	-1.55%
Volatility (6M) Calculated over the trailing 6-month period	10.53%	12.85%	-2.32%
Volatility (1Y) Calculated over the trailing 1-year period	17.76%	21.34%	-3.58%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	32.94%	39.92%	-6.98%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	48.17%	58.94%	-10.77%