^TYX vs. VOO

Last updated Jun 3, 2026

^TYX (Treasury Yield 30 Years) is an index, while VOO (Vanguard S&P 500 ETF) is S&P 500 fund tracking the S&P 500 Index. Over the past 10 years, ^TYX returned 7.03%/yr vs 15.65%/yr for VOO. At a 0.24 correlation, their price movements are largely independent.

Performance

^TYX vs. VOO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Treasury Yield 30 Years (^TYX) and Vanguard S&P 500 ETF (VOO). 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 VOO's 11.69% return. Over the past 10 years, ^TYX has underperformed VOO with an annualized return of 7.03%, while VOO has yielded a comparatively higher 15.65% 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%

VOO

• 1D: 0.14%
• 1M: 5.39%
• YTD: 11.69%
• 6M: 12.11%
• 1Y: 29.68%
• 3Y*: 22.73%
• 5Y*: 14.26%
• 10Y*: 15.65%

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

^TYX vs. VOO - 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%
VOO Vanguard S&P 500 ETF	11.69%	17.82%	24.98%	26.32%	-18.17%	28.79%	18.32%	31.37%	-4.50%	21.77%

Correlation

The correlation between ^TYX and VOO is -0.18, 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	-0.18
Correlation (3Y) Calculated over the trailing 3-year period	-0.14
Correlation (5Y) Calculated over the trailing 5-year period	-0.03
Correlation (10Y) Calculated over the trailing 10-year period	0.11
Correlation (All Time) Calculated using the full available price history since Sep 10, 2010	0.24

The correlation between ^TYX and VOO shifts across timeframes, from -0.18 (1 year) to 0.24 (all time), reflecting how their relationship changes across market environments.

Return for Risk

^TYX vs. VOO — 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

VOO

VOO Risk / Return Rank: 75
VOO Sharpe Ratio Rank: 77
VOO Sortino Ratio Rank: 75
VOO Omega Ratio Rank: 76
VOO Calmar Ratio Rank: 68
VOO Martin Ratio Rank: 80

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. VOO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Treasury Yield 30 Years (^TYX) and Vanguard S&P 500 ETF (VOO). 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	VOO	Difference
Sharpe ratio Return per unit of total volatility	-0.04	2.53	-2.58
Sortino ratio Return per unit of downside risk	0.02	3.43	-3.41
Omega ratio Gain probability vs. loss probability	1.00	1.46	-0.46
Calmar ratio Return relative to maximum drawdown	0.11	3.42	-3.31
Martin ratio Return relative to average drawdown	0.24	15.95	-15.71
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. VOO - Sharpe Ratio Comparison

The current ^TYX Sharpe Ratio is -0.04, which is lower than the VOO Sharpe Ratio of 2.53. The chart below compares the historical Sharpe Ratios of ^TYX and VOO, 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	VOO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.04	2.53	-2.58
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.65	0.85	-0.20
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.21	0.87	-0.66
Sharpe Ratio (All Time) Calculated using the full available price history	-0.02	0.89	-0.92

Drawdowns

^TYX vs. VOO - Drawdown Comparison

The maximum ^TYX drawdown since its inception was -88.52%, which is greater than VOO's maximum drawdown of -33.99%. Use the drawdown chart below to compare losses from any high point for ^TYX and VOO.

Drawdown Indicators

	^TYX	VOO	Difference
Max Drawdown Largest peak-to-trough decline	-88.52%	-33.99%	-54.53%
Max Drawdown (1Y) Largest decline over 1 year	-9.55%	-8.90%	-0.65%
Max Drawdown (3Y) Largest decline over 3 years	-22.85%	-18.69%	-4.16%
Max Drawdown (5Y) Largest decline over 5 years	-25.46%	-24.52%	-0.94%
Max Drawdown (10Y) Largest decline over 10 years	-72.86%	-33.99%	-38.87%
Current Drawdown Current decline from peak	-39.12%	0.00%	-39.12%
Average Drawdown Average peak-to-trough decline	-45.96%	-3.69%	-42.27%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.46%	1.91%	+2.55%

Volatility

^TYX vs. VOO - Volatility Comparison

Treasury Yield 30 Years (^TYX) has a higher volatility of 3.73% compared to Vanguard S&P 500 ETF (VOO) at 2.74%. This indicates that ^TYX's price experiences larger fluctuations and is considered to be riskier than VOO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	^TYX	VOO	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.73%	2.74%	+0.99%
Volatility (6M) Calculated over the trailing 6-month period	7.98%	8.88%	-0.90%
Volatility (1Y) Calculated over the trailing 1-year period	12.22%	11.78%	+0.44%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	25.08%	16.81%	+8.27%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	33.12%	18.01%	+15.11%

Frequently Asked Questions

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

^TYX and VOO have a correlation of -0.18, 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 VOO?

^TYX has higher volatility (3.73%) compared to VOO (2.74%). In terms of maximum drawdown, ^TYX dropped -88.52% vs VOO's -33.99%.

Which has better risk-adjusted returns?

VOO currently has the higher Sharpe Ratio (2.53 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.