BZQ vs. TYD
BZQ (ProShares UltraShort MSCI Brazil Capped) and TYD (Direxion Daily 7-10 Year Treasury Bull 3X) are both exchange-traded funds - BZQ is a Leveraged Equities fund tracking the MSCI Brazil 25-50 (-200%), while TYD is a Leveraged Bonds fund tracking the NYSE 7-10 Year Treasury Bond Index. Both are passively managed. Over the past 10 years, BZQ returned -36.34%/yr vs -5.30%/yr for TYD. At a 0.10 correlation, their price movements are largely independent. BZQ charges 0.95%/yr vs 1.09%/yr for TYD.
Performance
BZQ vs. TYD - Performance Comparison
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Returns By Period
In the year-to-date period, BZQ achieves a -21.83% return, which is significantly lower than TYD's -6.59% return. Over the past 10 years, BZQ has underperformed TYD with an annualized return of -36.34%, while TYD has yielded a comparatively higher -5.30% annualized return.
BZQ
- 1D
- -3.31%
- 1M
- 10.10%
- YTD
- -21.83%
- 6M
- -26.40%
- 1Y
- -46.02%
- 3Y*
- -19.86%
- 5Y*
- -21.83%
- 10Y*
- -36.34%
TYD
- 1D
- -1.17%
- 1M
- 0.77%
- YTD
- -6.59%
- 6M
- -6.82%
- 1Y
- -1.55%
- 3Y*
- -4.77%
- 5Y*
- -13.14%
- 10Y*
- -5.30%
BZQ vs. TYD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
BZQ ProShares UltraShort MSCI Brazil Capped | -21.83% | -57.90% | 98.84% | -49.11% | -44.20% | 6.45% | -52.88% | -48.20% | -21.52% | -49.73% |
TYD Direxion Daily 7-10 Year Treasury Bull 3X | -6.59% | 11.68% | -13.89% | -2.87% | -43.32% | -11.36% | 27.62% | 17.88% | 0.76% | 5.64% |
Correlation
The correlation between BZQ and TYD 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 | -0.20 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.10 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.00 |
Correlation (All Time) Calculated using the full available price history since Jun 19, 2009 | 0.10 |
The correlation between BZQ and TYD shifts across timeframes, from -0.20 (3 years) to 0.10 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
BZQ vs. TYD — Risk / Return Rank
BZQ
TYD
BZQ vs. TYD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares UltraShort MSCI Brazil Capped (BZQ) and Direxion Daily 7-10 Year Treasury Bull 3X (TYD). 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.
| BZQ | TYD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.81 | ||
| Sortino ratioReturn per unit of downside risk | -1.31 | ||
| Omega ratioGain probability vs. loss probability | 0.85 | 0.99 | -0.14 |
| Calmar ratioReturn relative to maximum drawdown | -0.71 | -0.12 | -0.59 |
| Martin ratioReturn relative to average drawdown | -1.11 | -0.28 | -0.83 |
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Drawdowns
BZQ vs. TYD - Drawdown Comparison
The maximum BZQ drawdown since its inception was -99.82%, which is greater than TYD's maximum drawdown of -64.28%. Use the drawdown chart below to compare losses from any high point for BZQ and TYD.
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Drawdown Indicators
| BZQ | TYD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.82% | -64.28% | -35.54% |
Max Drawdown (1Y)Largest decline over 1 year | -65.20% | -13.54% | -51.66% |
Max Drawdown (3Y)Largest decline over 3 years | -77.31% | -24.62% | -52.69% |
Max Drawdown (5Y)Largest decline over 5 years | -88.65% | -59.84% | -28.81% |
Max Drawdown (10Y)Largest decline over 10 years | -99.26% | -64.28% | -34.98% |
Current DrawdownCurrent decline from peak | -99.74% | -59.40% | -40.34% |
Average DrawdownAverage peak-to-trough decline | -84.56% | -22.04% | -62.52% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 41.37% | 5.49% | +35.88% |
Volatility
BZQ vs. TYD - Volatility Comparison
ProShares UltraShort MSCI Brazil Capped (BZQ) has a higher volatility of 12.41% compared to Direxion Daily 7-10 Year Treasury Bull 3X (TYD) at 4.01%. This indicates that BZQ's price experiences larger fluctuations and is considered to be riskier than TYD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BZQ | TYD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 12.41% | 4.01% | +8.40% |
Volatility (6M)Calculated over the trailing 6-month period | 39.48% | 9.98% | +29.50% |
Volatility (1Y)Calculated over the trailing 1-year period | 50.11% | 13.87% | +36.24% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 55.34% | 22.98% | +32.36% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 66.80% | 20.36% | +46.44% |
BZQ vs. TYD - Expense Ratio Comparison
BZQ has a 0.95% expense ratio, which is lower than TYD's 1.09% expense ratio.
Dividends
BZQ vs. TYD - Dividend Comparison
BZQ's dividend yield for the trailing twelve months is around 7.06%, more than TYD's 3.24% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BZQ ProShares UltraShort MSCI Brazil Capped | 7.06% | 5.96% | 3.26% | 4.51% | 0.22% | 0.00% | 0.21% | 2.13% | 0.28% | 0.00% | 0.00% | 0.00% |
TYD Direxion Daily 7-10 Year Treasury Bull 3X | 3.24% | 2.97% | 3.10% | 2.71% | 0.55% | 0.00% | 9.80% | 0.92% | 1.10% | 0.01% | 6.84% | 1.65% |
Frequently Asked Questions
BZQ and TYD 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.
BZQ has higher volatility (12.41%) compared to TYD (4.01%). In terms of maximum drawdown, BZQ dropped -99.82% vs TYD's -64.28%.
On 10-year performance, TYD leads with -5.30% vs -36.34% for BZQ. On fees, BZQ is cheaper at 0.95% per year. On volatility, TYD has been the lower-risk option at 4.01%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, TYD has performed better with a -5.30% return vs -36.34%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
BZQ is cheaper with a 0.95% expense ratio, compared with 1.09% for TYD.
BZQ has the higher dividend yield at 7.06%, compared with 3.24% for TYD.
BZQ is categorized as Leveraged Equities, while TYD is Leveraged Bonds. BZQ tracks MSCI Brazil 25-50 (-200%), while TYD tracks NYSE 7-10 Year Treasury Bond Index. They also come from different issuers: ProShares and Direxion. Their fees differ too: 0.95% for BZQ and 1.09% for TYD.
TYD currently has the higher Sharpe Ratio (-0.11 vs -0.92), 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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