^TYX vs. PST

Last updated Jun 3, 2026

^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 7.03%/yr vs 2.42%/yr for PST. Their correlation of 0.86 suggests significant overlap in exposure.

Performance

^TYX vs. PST - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Treasury Yield 30 Years (^TYX) and ProShares UltraShort 7-10 Year Treasury (PST). 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 PST's 4.04% return. Over the past 10 years, ^TYX has outperformed PST with an annualized return of 7.03%, while PST has yielded a comparatively lower 2.42% 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%

PST

• 1D: -0.11%
• 1M: 1.09%
• YTD: 4.04%
• 6M: 5.80%
• 1Y: 0.82%
• 3Y*: 5.41%
• 5Y*: 8.87%
• 10Y*: 2.42%

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

^TYX vs. PST - 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%
PST ProShares UltraShort 7-10 Year Treasury	4.04%	-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 0.87, 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	0.87
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	0.85
Correlation (All Time) Calculated using the full available price history since May 2, 2008	0.86

The correlation between ^TYX and PST has been stable across timeframes, ranging from 0.85 to 0.88 - a consistent structural relationship.

Return for Risk

^TYX vs. PST — 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

PST

PST Risk / Return Rank: 10
PST Sharpe Ratio Rank: 10
PST Sortino Ratio Rank: 9
PST Omega Ratio Rank: 9
PST Calmar Ratio Rank: 11
PST Martin Ratio Rank: 10

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. 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.

	^TYX	PST	Difference
Sharpe ratio Return per unit of total volatility	-0.04	0.09	-0.13
Sortino ratio Return per unit of downside risk	0.02	0.19	-0.17
Omega ratio Gain probability vs. loss probability	1.00	1.02	-0.02
Calmar ratio Return relative to maximum drawdown	0.11	0.20	-0.09
Martin ratio Return relative to average drawdown	0.24	0.35	-0.12
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. PST - Sharpe Ratio Comparison

The current ^TYX Sharpe Ratio is -0.04, which is lower than the PST Sharpe Ratio of 0.09. The chart below compares the historical Sharpe Ratios of ^TYX and PST, 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	PST	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.04	0.09	-0.13
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.65	0.57	+0.08
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.21	0.18	+0.02
Sharpe Ratio (All Time) Calculated using the full available price history	-0.02	-0.38	+0.35

Drawdowns

^TYX vs. PST - Drawdown Comparison

The maximum ^TYX drawdown since its inception was -88.52%, 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.

Drawdown Indicators

	^TYX	PST	Difference
Max Drawdown Largest peak-to-trough decline	-88.52%	-79.25%	-9.27%
Max Drawdown (1Y) Largest decline over 1 year	-9.55%	-7.25%	-2.30%
Max Drawdown (3Y) Largest decline over 3 years	-22.85%	-16.19%	-6.66%
Max Drawdown (5Y) Largest decline over 5 years	-25.46%	-16.19%	-9.27%
Max Drawdown (10Y) Largest decline over 10 years	-72.86%	-36.07%	-36.79%
Current Drawdown Current decline from peak	-39.12%	-64.31%	+25.19%
Average Drawdown Average peak-to-trough decline	-45.96%	-61.48%	+15.52%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.46%	4.15%	+0.31%

Volatility

^TYX vs. PST - Volatility Comparison

Treasury Yield 30 Years (^TYX) has a higher volatility of 3.73% compared to ProShares UltraShort 7-10 Year Treasury (PST) at 3.25%. This indicates that ^TYX's price experiences larger fluctuations and is considered to be riskier than PST based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	^TYX	PST	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.73%	3.25%	+0.48%
Volatility (6M) Calculated over the trailing 6-month period	7.98%	6.84%	+1.14%
Volatility (1Y) Calculated over the trailing 1-year period	12.22%	9.63%	+2.59%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	25.08%	15.60%	+9.48%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	33.12%	13.32%	+19.80%

Frequently Asked Questions

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

^TYX and PST have a correlation of 0.87, 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 PST?

^TYX has higher volatility (3.73%) compared to PST (3.25%). In terms of maximum drawdown, ^TYX dropped -88.52% vs PST's -79.25%.

Which has better risk-adjusted returns?

PST currently has the higher Sharpe Ratio (0.09 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.