^TYX vs. PST
^TYX (Treasury Yield 30 Years) is an index, while PST (ProShares UltraShort 7-10 Year Treasury) is Inverse Bonds fund tracking the ICE U.S. Treasury 7-10 Year Bond Index. Over the past 10 years, ^TYX returned 7.35%/yr vs 2.73%/yr for PST. Their correlation of 0.86 suggests significant overlap in exposure.
Performance
^TYX vs. PST - Performance Comparison
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Returns By Period
In the year-to-date period, ^TYX achieves a 2.07% return, which is significantly lower than PST's 4.69% return. Over the past 10 years, ^TYX has outperformed PST with an annualized return of 7.35%, while PST has yielded a comparatively lower 2.73% annualized return.
^TYX
- 1D
- 0.80%
- 1M
- -2.45%
- YTD
- 2.07%
- 6M
- 2.26%
- 1Y
- 1.71%
- 3Y*
- 8.94%
- 5Y*
- 18.72%
- 10Y*
- 7.35%
PST
- 1D
- -0.27%
- 1M
- -0.60%
- YTD
- 4.69%
- 6M
- 5.06%
- 1Y
- 3.06%
- 3Y*
- 5.23%
- 5Y*
- 9.44%
- 10Y*
- 2.73%
^TYX vs. PST - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
^TYX Treasury Yield 30 Years | 2.07% | 1.13% | 19.08% | 1.11% | 108.66% | 15.74% | -31.10% | -20.89% | 10.26% | -10.58% |
PST ProShares UltraShort 7-10 Year Treasury | 4.69% | -4.42% | 12.27% | 3.17% | 38.55% | 4.01% | -18.67% | -11.03% | 1.72% | -4.52% |
Correlation
The correlation between ^TYX and PST is 0.85, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.85 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.88 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.86 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.84 |
Correlation (All Time) Calculated using the full available price history since May 1, 2008 | 0.86 |
The correlation between ^TYX and PST has been stable across timeframes, ranging from 0.84 to 0.88 - a consistent structural relationship.
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Return for Risk
^TYX vs. PST — Risk / Return Rank
^TYX
PST
^TYX vs. PST - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Treasury Yield 30 Years (^TYX) and ProShares UltraShort 7-10 Year Treasury (PST). 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.
| ^TYX | PST | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.18 | ||
| Sortino ratioReturn per unit of downside risk | -0.24 | ||
| Omega ratioGain probability vs. loss probability | 1.03 | 1.06 | -0.03 |
| Calmar ratioReturn relative to maximum drawdown | 0.18 | 0.45 | -0.27 |
| Martin ratioReturn relative to average drawdown | 0.38 | 0.80 | -0.42 |
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Drawdowns
^TYX vs. PST - Drawdown Comparison
The maximum ^TYX drawdown since its inception was -93.84%, which is greater than PST's maximum drawdown of -79.25%. Use the drawdown chart below to compare losses from any high point for ^TYX and PST.
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Drawdown Indicators
| ^TYX | PST | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -93.84% | -79.25% | -14.59% |
Max Drawdown (1Y)Largest decline over 1 year | -9.55% | -6.90% | -2.65% |
Max Drawdown (3Y)Largest decline over 3 years | -22.85% | -16.19% | -6.66% |
Max Drawdown (5Y)Largest decline over 5 years | -22.85% | -16.19% | -6.66% |
Max Drawdown (10Y)Largest decline over 10 years | -72.86% | -36.07% | -36.79% |
Current DrawdownCurrent decline from peak | -67.52% | -64.08% | -3.44% |
Average DrawdownAverage peak-to-trough decline | -56.71% | -61.48% | +4.77% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.46% | 3.83% | +0.63% |
Volatility
^TYX vs. PST - Volatility Comparison
Treasury Yield 30 Years (^TYX) and ProShares UltraShort 7-10 Year Treasury (PST) have volatilities of 2.60% and 2.73%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ^TYX | PST | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.60% | 2.73% | -0.13% |
Volatility (6M)Calculated over the trailing 6-month period | 8.09% | 7.03% | +1.06% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.03% | 9.49% | +2.54% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 25.17% | 15.59% | +9.58% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 33.53% | 13.30% | +20.23% |
Frequently Asked Questions
^TYX and PST have a correlation of 0.85, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PST has higher volatility (2.73%) compared to ^TYX (2.60%). In terms of maximum drawdown, ^TYX dropped -93.84% vs PST's -79.25%.
PST currently has the higher Sharpe Ratio (0.32 vs 0.14), 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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