^TYX vs. MSCI

Last updated Jun 3, 2026

^TYX (Treasury Yield 30 Years) is an index, while MSCI (MSCI Inc.) is a stock. Over the past 10 years, ^TYX returned 7.03%/yr vs 24.75%/yr for MSCI. At a 0.12 correlation, their price movements are largely independent.

Performance

^TYX vs. MSCI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Treasury Yield 30 Years (^TYX) and MSCI Inc. (MSCI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ^TYX achieves a 2.62% return, which is significantly lower than MSCI's 10.69% return. Over the past 10 years, ^TYX has underperformed MSCI with an annualized return of 7.03%, while MSCI has yielded a comparatively higher 24.75% annualized return.

^TYX

• 1D: -0.48%
• 1M: 0.02%
• YTD: 2.62%
• 6M: 4.77%
• 1Y: -0.56%
• 3Y*: 8.56%
• 5Y*: 16.70%
• 10Y*: 7.03%

MSCI

• 1D: -2.11%
• 1M: 7.42%
• YTD: 10.69%
• 6M: 16.03%
• 1Y: 13.27%
• 3Y*: 10.96%
• 5Y*: 7.59%
• 10Y*: 24.75%

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

^TYX vs. MSCI - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
^TYX Treasury Yield 30 Years	2.62%	1.13%	19.08%	1.11%	108.66%	15.74%	-31.10%	-20.89%	10.26%	-10.58%
MSCI MSCI Inc.	10.69%	-3.17%	7.31%	22.90%	-23.34%	38.14%	74.38%	77.19%	17.95%	62.63%

Correlation

The correlation between ^TYX and MSCI is -0.13, 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	-0.13
Correlation (3Y) Calculated over the trailing 3-year period	-0.16
Correlation (5Y) Calculated over the trailing 5-year period	-0.11
Correlation (10Y) Calculated over the trailing 10-year period	-0.01
Correlation (All Time) Calculated using the full available price history since Nov 16, 2007	0.12

The correlation between ^TYX and MSCI shifts across timeframes, from -0.16 (3 years) to 0.12 (all time), reflecting how their relationship changes across market environments.

Return for Risk

^TYX vs. MSCI — Risk / Return Rank

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

^TYX

^TYX Risk / Return Rank: 11
^TYX Sharpe Ratio Rank: 9
^TYX Sortino Ratio Rank: 8
^TYX Omega Ratio Rank: 8
^TYX Calmar Ratio Rank: 14
^TYX Martin Ratio Rank: 14

MSCI

MSCI Risk / Return Rank: 54
MSCI Sharpe Ratio Rank: 56
MSCI Sortino Ratio Rank: 49
MSCI Omega Ratio Rank: 50
MSCI Calmar Ratio Rank: 56
MSCI Martin Ratio Rank: 59

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.

^TYX vs. MSCI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Treasury Yield 30 Years (^TYX) and MSCI Inc. (MSCI). 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.

	^TYX	MSCI	Difference
Sharpe ratio Return per unit of total volatility	-0.04	0.47	-0.51
Sortino ratio Return per unit of downside risk	0.02	0.83	-0.81
Omega ratio Gain probability vs. loss probability	1.00	1.11	-0.11
Calmar ratio Return relative to maximum drawdown	0.11	0.74	-0.63
Martin ratio Return relative to average drawdown	0.24	1.94	-1.70
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

^TYX vs. MSCI - Sharpe Ratio Comparison

The current ^TYX Sharpe Ratio is -0.04, which is lower than the MSCI Sharpe Ratio of 0.47. The chart below compares the historical Sharpe Ratios of ^TYX and MSCI, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	^TYX	MSCI	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.04	0.47	-0.51
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.65	0.25	+0.40
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.21	0.80	-0.59
Sharpe Ratio (All Time) Calculated using the full available price history	-0.02	0.56	-0.58

Drawdowns

^TYX vs. MSCI - Drawdown Comparison

The maximum ^TYX drawdown since its inception was -88.52%, which is greater than MSCI's maximum drawdown of -69.06%. Use the drawdown chart below to compare losses from any high point for ^TYX and MSCI.

Drawdown Indicators

	^TYX	MSCI	Difference
Max Drawdown Largest peak-to-trough decline	-88.52%	-69.06%	-19.46%
Max Drawdown (1Y) Largest decline over 1 year	-9.55%	-18.07%	+8.52%
Max Drawdown (3Y) Largest decline over 3 years	-22.85%	-25.99%	+3.14%
Max Drawdown (5Y) Largest decline over 5 years	-25.46%	-43.74%	+18.28%
Max Drawdown (10Y) Largest decline over 10 years	-72.86%	-43.74%	-29.12%
Current Drawdown Current decline from peak	-39.12%	-2.11%	-37.01%
Average Drawdown Average peak-to-trough decline	-45.96%	-13.09%	-32.87%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.46%	6.87%	-2.41%

Volatility

^TYX vs. MSCI - Volatility Comparison

The current volatility for Treasury Yield 30 Years (^TYX) is 3.73%, while MSCI Inc. (MSCI) has a volatility of 7.42%. This indicates that ^TYX experiences smaller price fluctuations and is considered to be less risky than MSCI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	^TYX	MSCI	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.73%	7.42%	-3.69%
Volatility (6M) Calculated over the trailing 6-month period	7.98%	20.60%	-12.62%
Volatility (1Y) Calculated over the trailing 1-year period	12.22%	28.45%	-16.23%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	25.08%	30.70%	-5.62%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	33.12%	31.17%	+1.95%

Frequently Asked Questions

Can I hold both ^TYX and MSCI in my portfolio?

^TYX and MSCI have a correlation of -0.13, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ^TYX or MSCI?

MSCI has higher volatility (7.42%) compared to ^TYX (3.73%). In terms of maximum drawdown, ^TYX dropped -88.52% vs MSCI's -69.06%.

Which has better risk-adjusted returns?

MSCI currently has the higher Sharpe Ratio (0.47 vs -0.04), 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.