DXKSX vs. DXHYX

Last updated Jun 4, 2026

DXKSX (Direxion Monthly 7-10 Year Treasury Bear 1.75X Fund) and DXHYX (Direxion Monthly High Yield Bull 1.2X Fund) are both mutual funds - DXKSX is a Inverse Bonds fund managed by Direxion, while DXHYX is a Leveraged Bonds fund managed by Direxion. Over the past 5 years, DXKSX returned 8.87%/yr vs 1.97%/yr for DXHYX. At a correlation of -0.17, they often move in opposite directions. Both charge a 1.35% expense ratio.

Performance

DXKSX vs. DXHYX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Direxion Monthly 7-10 Year Treasury Bear 1.75X Fund (DXKSX) and Direxion Monthly High Yield Bull 1.2X Fund (DXHYX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, DXKSX achieves a 4.27% return, which is significantly higher than DXHYX's 0.65% return.

DXKSX

• 1D: -0.08%
• 1M: 0.43%
• YTD: 4.27%
• 6M: 5.97%
• 1Y: 2.04%
• 3Y*: 5.85%
• 5Y*: 8.87%
• 10Y*: 2.67%

DXHYX

• 1D: 0.06%
• 1M: 0.51%
• YTD: 0.65%
• 6M: 0.94%
• 1Y: 5.51%
• 3Y*: 6.95%
• 5Y*: 1.97%
• 10Y*: —

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

DXKSX vs. DXHYX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
DXKSX Direxion Monthly 7-10 Year Treasury Bear 1.75X Fund	4.27%	-3.26%	12.62%	3.03%	35.65%	4.73%	-13.02%	-11.52%	-0.00%	-5.57%
DXHYX Direxion Monthly High Yield Bull 1.2X Fund	0.65%	6.56%	6.47%	10.88%	-13.99%	3.00%	2.26%	12.61%	-3.82%	5.22%

Correlation

The correlation between DXKSX and DXHYX is -0.52, 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	-0.52
Correlation (3Y) Calculated over the trailing 3-year period	-0.53
Correlation (5Y) Calculated over the trailing 5-year period	-0.40
Correlation (All Time) Calculated using the full available price history since Jan 4, 2017	-0.17

Over the past year, the inverse relationship between DXKSX and DXHYX has strengthened: their correlation has moved from -0.17 to -0.52, meaning they now move in opposite directions more often than their long-term average.

Return for Risk

DXKSX vs. DXHYX — Risk / Return Rank

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

DXKSX

DXKSX Risk / Return Rank: 4
DXKSX Sharpe Ratio Rank: 4
DXKSX Sortino Ratio Rank: 4
DXKSX Omega Ratio Rank: 4
DXKSX Calmar Ratio Rank: 5
DXKSX Martin Ratio Rank: 4

DXHYX

DXHYX Risk / Return Rank: 25
DXHYX Sharpe Ratio Rank: 21
DXHYX Sortino Ratio Rank: 22
DXHYX Omega Ratio Rank: 22
DXHYX Calmar Ratio Rank: 27
DXHYX Martin Ratio Rank: 35

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.

DXKSX vs. DXHYX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Direxion Monthly 7-10 Year Treasury Bear 1.75X Fund (DXKSX) and Direxion Monthly High Yield Bull 1.2X Fund (DXHYX). 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.

	DXKSX	DXHYX	Difference
Sharpe ratio: Return per unit of total volatility	0.27	1.32	-1.05
Sortino ratio: Return per unit of downside risk	0.43	1.97	-1.53
Omega ratio: Gain probability vs. loss probability	1.05	1.24	-0.19
Calmar ratio: Return relative to maximum drawdown	0.38	1.91	-1.53
Martin ratio: Return relative to average drawdown	0.71	7.89	-7.18
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

DXKSX vs. DXHYX - Sharpe Ratio Comparison

The current DXKSX Sharpe Ratio is 0.27, which is lower than the DXHYX Sharpe Ratio of 1.32. The chart below compares the historical Sharpe Ratios of DXKSX and DXHYX, 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

	DXKSX	DXHYX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.27	1.32	-1.05
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.64	0.23	+0.41
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.21	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.39	0.31	-0.70

Drawdowns

DXKSX vs. DXHYX - Drawdown Comparison

The maximum DXKSX drawdown since its inception was -85.78%, which is greater than DXHYX's maximum drawdown of -26.40%. Use the drawdown chart below to compare losses from any high point for DXKSX and DXHYX.

Drawdown Indicators

	DXKSX	DXHYX	Difference
Max Drawdown Largest peak-to-trough decline	-85.78%	-26.40%	-59.38%
Max Drawdown (1Y) Largest decline over 1 year	-5.87%	-3.03%	-2.84%
Max Drawdown (3Y) Largest decline over 3 years	-14.02%	-6.42%	-7.60%
Max Drawdown (5Y) Largest decline over 5 years	-14.02%	-18.67%	+4.65%
Max Drawdown (10Y) Largest decline over 10 years	-36.52%	—	—
Current Drawdown Current decline from peak	-73.88%	-0.17%	-73.71%
Average Drawdown Average peak-to-trough decline	-61.31%	-3.70%	-57.61%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.14%	0.73%	+2.41%

Volatility

DXKSX vs. DXHYX - Volatility Comparison

Direxion Monthly 7-10 Year Treasury Bear 1.75X Fund (DXKSX) has a higher volatility of 2.74% compared to Direxion Monthly High Yield Bull 1.2X Fund (DXHYX) at 1.43%. This indicates that DXKSX's price experiences larger fluctuations and is considered to be riskier than DXHYX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DXKSX	DXHYX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.74%	1.43%	+1.31%
Volatility (6M) Calculated over the trailing 6-month period	5.81%	3.40%	+2.41%
Volatility (1Y) Calculated over the trailing 1-year period	8.37%	4.39%	+3.98%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.86%	8.47%	+5.39%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	12.55%	9.34%	+3.21%

DXKSX vs. DXHYX - Expense Ratio Comparison

Both DXKSX and DXHYX have an expense ratio of 1.35%.

Dividends

DXKSX vs. DXHYX - Dividend Comparison

DXKSX's dividend yield for the trailing twelve months is around 11.76%, more than DXHYX's 3.58% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
DXHYX Direxion Monthly High Yield Bull 1.2X Fund	3.58%	4.32%	4.75%	6.08%	12.11%	2.06%	6.32%	9.95%	4.99%	3.57%
DXKSX Direxion Monthly 7-10 Year Treasury Bear 1.75X Fund	11.76%	0.00%	9.44%	8.98%	0.00%	0.00%	6.10%	1.26%	0.00%	0.00%

Frequently Asked Questions

Can I hold both DXKSX and DXHYX in my portfolio?

DXKSX and DXHYX have a correlation of -0.52, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, DXKSX or DXHYX?

DXKSX has higher volatility (2.74%) compared to DXHYX (1.43%). In terms of maximum drawdown, DXKSX dropped -85.78% vs DXHYX's -26.40%.

Which has better risk-adjusted returns?

DXHYX currently has the higher Sharpe Ratio (1.32 vs 0.27), 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.