CLDL vs. TBLL

Last updated Jun 5, 2026

CLDL (Direxion Daily Cloud Computing Bull 2X Shares) and TBLL (Invesco Short Term Treasury ETF) are both exchange-traded funds - CLDL is a Leveraged Equities fund actively managed by Direxion, while TBLL is a Ultrashort Bond fund tracking the ICE U.S. Treasury Short Bond Index. CLDL is actively managed, while TBLL is passively managed. At a correlation of -0.03, they often move in opposite directions. CLDL charges 0.95%/yr vs 0.08%/yr for TBLL.

Performance

CLDL vs. TBLL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Direxion Daily Cloud Computing Bull 2X Shares (CLDL) and Invesco Short Term Treasury ETF (TBLL). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

CLDL

• 1D: —
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

TBLL

• 1D: 0.01%
• 1M: 0.29%
• YTD: 1.45%
• 6M: 1.74%
• 1Y: 3.92%
• 3Y*: 4.65%
• 5Y*: 3.35%
• 10Y*: —

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

CLDL vs. TBLL - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
CLDL Direxion Daily Cloud Computing Bull 2X Shares	0.00%	3.74%	25.41%	84.75%	-72.32%	-15.05%
TBLL Invesco Short Term Treasury ETF	1.45%	4.21%	5.11%	5.01%	1.11%	-0.03%

Correlation

The correlation between CLDL and TBLL is -0.09, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.09
Correlation (3Y) Calculated over the trailing 3-year period	-0.08
Correlation (5Y) Calculated over the trailing 5-year period	-0.04
Correlation (All Time) Calculated using the full available price history since Jan 11, 2021	-0.03

CLDL vs. TBLL - Sectors Allocation Comparison

Sectors	CLDL	TBLL
Technology	94.5%	-
Healthcare	5.5%	-
Communication Services	1.1%	-
Basic Materials	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Energy	-	-
Financial Services	-	64.0%
Industrials	-	-
Real Estate	-	-
Utilities	-	-

Return for Risk

CLDL vs. TBLL — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

TBLL

TBLL Risk / Return Rank: 100
TBLL Sharpe Ratio Rank: 100
TBLL Sortino Ratio Rank: 100
TBLL Omega Ratio Rank: 100
TBLL Calmar Ratio Rank: 100
TBLL Martin Ratio Rank: 100

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.

CLDL vs. TBLL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Direxion Daily Cloud Computing Bull 2X Shares (CLDL) and Invesco Short Term Treasury ETF (TBLL). 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	CLDL	TBLL	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	20.91	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	7.53	—
Sharpe Ratio (All Time) Calculated using the full available price history	—	4.26	—

Drawdowns

Drawdown Indicators

	CLDL	TBLL	Difference
Max Drawdown Largest peak-to-trough decline	—	-0.63%	—
Max Drawdown (1Y) Largest decline over 1 year	—	-0.01%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-0.36%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-0.36%	—
Current Drawdown Current decline from peak	—	0.00%	—
Average Drawdown Average peak-to-trough decline	—	-0.14%	—
Ulcer Index Depth and duration of drawdowns from previous peaks	—	0.00%	—

Volatility

Volatility by Period

	CLDL	TBLL	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	0.05%	—
Volatility (6M) Calculated over the trailing 6-month period	—	0.12%	—
Volatility (1Y) Calculated over the trailing 1-year period	—	0.19%	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	—	0.45%	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	—	0.56%	—

CLDL vs. TBLL - Expense Ratio Comparison

CLDL has a 0.95% expense ratio, which is higher than TBLL's 0.08% expense ratio.

Dividends

CLDL vs. TBLL - Dividend Comparison

CLDL's dividend yield for the trailing twelve months is around 0.21%, less than TBLL's 3.81% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
CLDL Direxion Daily Cloud Computing Bull 2X Shares	0.21%	0.26%	0.00%	0.00%	0.00%	4.78%	0.00%	0.00%	0.00%	0.00%
TBLL Invesco Short Term Treasury ETF	3.81%	4.08%	4.99%	4.63%	1.37%	0.03%	0.80%	2.08%	1.69%	0.71%

Frequently Asked Questions

Can I hold both CLDL and TBLL in my portfolio?

CLDL and TBLL have a correlation of -0.09, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, CLDL or TBLL?

On fees, TBLL is cheaper at 0.08% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, CLDL or TBLL?

TBLL is cheaper with a 0.08% expense ratio, compared with 0.95% for CLDL.

Which ETF pays a higher dividend yield, CLDL or TBLL?

TBLL has the higher dividend yield at 3.81%, compared with 0.21% for CLDL.

What is the main difference between CLDL and TBLL?

CLDL is categorized as Leveraged Equities, while TBLL is Ultrashort Bond. They also come from different issuers: Direxion and Invesco. Their fees differ too: 0.95% for CLDL and 0.08% for TBLL.