^TYX vs. TBX
Compare and contrast key facts about Treasury Yield 30 Years (^TYX) and ProShares Short 7-10 Year Treasury (TBX).
TBX is a passively managed fund by ProShares that tracks the performance of the ICE BofA US Treasury (7-10 Y) (-100%). It was launched on Apr 4, 2011.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: ^TYX or TBX.
Key characteristics
| ^TYX | TBX | |
|---|---|---|
| YTD Return | -1.05% | 0.75% |
| 1Y Return | -9.30% | -0.97% |
| 3Y Return (Ann) | 28.46% | 7.88% |
| 5Y Return (Ann) | 10.64% | 2.60% |
| 10Y Return (Ann) | 1.68% | -0.30% |
| Sharpe Ratio | -0.45 | -0.08 |
| Daily Std Dev | 21.28% | 8.15% |
| Max Drawdown | -88.52% | -41.04% |
| Current Drawdown | -51.26% | -24.45% |
Correlation
The correlation between ^TYX and TBX is 0.79, 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.
Performance
^TYX vs. TBX - Performance Comparison
In the year-to-date period, ^TYX achieves a -1.05% return, which is significantly lower than TBX's 0.75% return. Over the past 10 years, ^TYX has outperformed TBX with an annualized return of 1.68%, while TBX has yielded a comparatively lower -0.30% annualized return. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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Risk-Adjusted Performance
^TYX vs. TBX - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Treasury Yield 30 Years (^TYX) and ProShares Short 7-10 Year Treasury (TBX). 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.
Drawdowns
^TYX vs. TBX - Drawdown Comparison
The maximum ^TYX drawdown since its inception was -88.52%, which is greater than TBX's maximum drawdown of -41.04%. Use the drawdown chart below to compare losses from any high point for ^TYX and TBX. For additional features, visit the drawdowns tool.
Volatility
^TYX vs. TBX - Volatility Comparison
Treasury Yield 30 Years (^TYX) has a higher volatility of 4.14% compared to ProShares Short 7-10 Year Treasury (TBX) at 1.84%. This indicates that ^TYX's price experiences larger fluctuations and is considered to be riskier than TBX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.