EEV vs. TYD

Last updated Jun 4, 2026

EEV (ProShares UltraShort MSCI Emerging Markets) and TYD (Direxion Daily 7-10 Year Treasury Bull 3X) are both exchange-traded funds - EEV is a Leveraged Equities fund tracking the MSCI Emerging Markets Index (-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, EEV returned -24.13%/yr vs -4.71%/yr for TYD. At a 0.16 correlation, their price movements are largely independent. EEV charges 0.95%/yr vs 1.09%/yr for TYD.

Performance

EEV vs. TYD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares UltraShort MSCI Emerging Markets (EEV) and Direxion Daily 7-10 Year Treasury Bull 3X (TYD). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, EEV achieves a -42.06% return, which is significantly lower than TYD's -6.21% return. Over the past 10 years, EEV has underperformed TYD with an annualized return of -24.13%, while TYD has yielded a comparatively higher -4.71% annualized return.

EEV

• 1D: 2.35%
• 1M: -17.39%
• YTD: -42.06%
• 6M: -44.23%
• 1Y: -60.04%
• 3Y*: -34.25%
• 5Y*: -15.62%
• 10Y*: -24.13%

TYD

• 1D: -0.86%
• 1M: -1.19%
• YTD: -6.21%
• 6M: -8.43%
• 1Y: 0.66%
• 3Y*: -5.07%
• 5Y*: -12.90%
• 10Y*: -4.71%

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

EEV vs. TYD - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
EEV ProShares UltraShort MSCI Emerging Markets	-42.06%	-43.35%	-8.08%	-13.08%	37.05%	-4.99%	-48.93%	-30.87%	24.06%	-49.03%
TYD Direxion Daily 7-10 Year Treasury Bull 3X	-6.21%	11.68%	-13.89%	-2.87%	-43.32%	-11.36%	27.62%	17.88%	0.76%	5.64%

Correlation

The correlation between EEV and TYD is -0.25, 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	-0.25
Correlation (3Y) Calculated over the trailing 3-year period	-0.15
Correlation (5Y) Calculated over the trailing 5-year period	-0.08
Correlation (10Y) Calculated over the trailing 10-year period	0.03
Correlation (All Time) Calculated using the full available price history since Apr 17, 2009	0.16

The correlation between EEV and TYD shifts across timeframes, from -0.25 (1 year) to 0.16 (all time), reflecting how their relationship changes across market environments.

EEV vs. TYD - Sectors Allocation Comparison

Sectors	EEV	TYD
Technology	43.6%	-
Financial Services	17.5%	21.5%
Consumer Cyclical	8.1%	-
Industrials	6.2%	-
Basic Materials	6.1%	-
Communication Services	5.7%	-
Energy	3.3%	-
Consumer Defensive	2.7%	-
Healthcare	2.5%	-
Utilities	2.0%	-
Real Estate	0.9%	-

Return for Risk

EEV vs. TYD — Risk / Return Rank

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

EEV

EEV Risk / Return Rank: 0
EEV Sharpe Ratio Rank: 0
EEV Sortino Ratio Rank: 0
EEV Omega Ratio Rank: 0
EEV Calmar Ratio Rank: 0
EEV Martin Ratio Rank: 0

TYD

TYD Risk / Return Rank: 9
TYD Sharpe Ratio Rank: 9
TYD Sortino Ratio Rank: 9
TYD Omega Ratio Rank: 8
TYD Calmar Ratio Rank: 9
TYD Martin Ratio Rank: 9

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.

EEV vs. TYD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares UltraShort MSCI Emerging Markets (EEV) 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.

	EEV	TYD	Difference
Sharpe ratio: Return per unit of total volatility	-1.49	0.05	-1.54
Sortino ratio: Return per unit of downside risk	-2.69	0.17	-2.86
Omega ratio: Gain probability vs. loss probability	0.69	1.02	-0.33
Calmar ratio: Return relative to maximum drawdown	-1.01	0.05	-1.05
Martin ratio: Return relative to average drawdown	-1.85	0.13	-1.98
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

EEV vs. TYD - Sharpe Ratio Comparison

The current EEV Sharpe Ratio is -1.49, which is lower than the TYD Sharpe Ratio of 0.05. The chart below compares the historical Sharpe Ratios of EEV and TYD, 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

	EEV	TYD	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-1.49	0.05	-1.54
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.41	-0.56	+0.15
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	-0.59	-0.23	-0.36
Sharpe Ratio (All Time) Calculated using the full available price history	-0.48	0.05	-0.53

Drawdowns

EEV vs. TYD - Drawdown Comparison

The maximum EEV drawdown since its inception was -99.87%, which is greater than TYD's maximum drawdown of -64.28%. Use the drawdown chart below to compare losses from any high point for EEV and TYD.

Drawdown Indicators

	EEV	TYD	Difference
Max Drawdown Largest peak-to-trough decline	-99.87%	-64.28%	-35.59%
Max Drawdown (1Y) Largest decline over 1 year	-59.83%	-13.54%	-46.29%
Max Drawdown (3Y) Largest decline over 3 years	-76.45%	-25.04%	-51.41%
Max Drawdown (5Y) Largest decline over 5 years	-80.25%	-59.84%	-20.41%
Max Drawdown (10Y) Largest decline over 10 years	-94.21%	-64.28%	-29.93%
Current Drawdown Current decline from peak	-99.87%	-59.24%	-40.63%
Average Drawdown Average peak-to-trough decline	-93.00%	-21.95%	-71.05%
Ulcer Index Depth and duration of drawdowns from previous peaks	34.15%	4.97%	+29.18%

Volatility

EEV vs. TYD - Volatility Comparison

ProShares UltraShort MSCI Emerging Markets (EEV) has a higher volatility of 17.59% compared to Direxion Daily 7-10 Year Treasury Bull 3X (TYD) at 4.20%. This indicates that EEV'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.

Volatility by Period

	EEV	TYD	Difference
Volatility (1M) Calculated over the trailing 1-month period	17.59%	4.20%	+13.39%
Volatility (6M) Calculated over the trailing 6-month period	35.59%	9.58%	+26.01%
Volatility (1Y) Calculated over the trailing 1-year period	40.37%	14.13%	+26.24%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	38.25%	22.98%	+15.27%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	41.13%	20.36%	+20.77%

EEV vs. TYD - Expense Ratio Comparison

EEV has a 0.95% expense ratio, which is lower than TYD's 1.09% expense ratio.

Dividends

EEV vs. TYD - Dividend Comparison

EEV's dividend yield for the trailing twelve months is around 7.46%, more than TYD's 3.23% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
EEV ProShares UltraShort MSCI Emerging Markets	7.46%	5.40%	4.45%	3.45%	0.27%	0.00%	0.14%	1.34%	0.38%	0.00%	0.00%	0.00%
TYD Direxion Daily 7-10 Year Treasury Bull 3X	3.23%	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

Can I hold both EEV and TYD in my portfolio?

EEV and TYD have a correlation of -0.25, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, EEV or TYD?

EEV has higher volatility (17.59%) compared to TYD (4.20%). In terms of maximum drawdown, EEV dropped -99.87% vs TYD's -64.28%.

Which ETF is better, EEV or TYD?

On 10-year performance, TYD leads with -4.71% vs -24.13% for EEV. On fees, EEV is cheaper at 0.95% per year. On volatility, TYD has been the lower-risk option at 4.20%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, EEV or TYD?

Over the 10-year period, TYD has performed better with a -4.71% return vs -24.13%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, EEV or TYD?

EEV is cheaper with a 0.95% expense ratio, compared with 1.09% for TYD.

Which ETF pays a higher dividend yield, EEV or TYD?

EEV has the higher dividend yield at 7.46%, compared with 3.23% for TYD.

What is the main difference between EEV and TYD?

EEV is categorized as Leveraged Equities, while TYD is Leveraged Bonds. EEV tracks MSCI Emerging Markets Index (-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 EEV and 1.09% for TYD.

Which has better risk-adjusted returns?

TYD currently has the higher Sharpe Ratio (0.05 vs -1.49), 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.