EEV vs. TYD
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 -22.12%/yr vs -5.51%/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
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Returns By Period
In the year-to-date period, EEV achieves a -35.24% return, which is significantly lower than TYD's -8.30% return. Over the past 10 years, EEV has underperformed TYD with an annualized return of -22.12%, while TYD has yielded a comparatively higher -5.51% annualized return.
EEV
- 1D
- 7.43%
- 1M
- 7.34%
- 6M
- -27.37%
- YTD
- -35.24%
- 1Y
- -49.99%
- 3Y*
- -29.87%
- 5Y*
- -14.73%
- 10Y*
- -22.12%
TYD
- 1D
- -0.90%
- 1M
- -2.66%
- 6M
- -8.14%
- YTD
- -8.30%
- 1Y
- -2.67%
- 3Y*
- -4.77%
- 5Y*
- -14.07%
- 10Y*
- -5.51%
EEV vs. TYD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
EEV ProShares UltraShort MSCI Emerging Markets | -35.24% | -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 | -8.30% | 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 -0.24, 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 | -0.24 |
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 | 0.02 |
Correlation (All Time) Calculated using the full available price history since Apr 16, 2009 | 0.16 |
The correlation between EEV and TYD shifts across timeframes, from -0.24 (1 year) to 0.16 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
EEV vs. TYD — Risk / Return Rank
EEV
TYD
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.
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.
| EEV | TYD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.86 | ||
| Sortino ratioReturn per unit of downside risk | -1.54 | ||
| Omega ratioGain probability vs. loss probability | 0.80 | 0.98 | -0.18 |
| Calmar ratioReturn relative to maximum drawdown | -0.86 | -0.20 | -0.66 |
| Martin ratioReturn relative to average drawdown | -1.52 | -0.45 | -1.07 |
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Drawdowns
EEV vs. TYD - Drawdown Comparison
The maximum EEV drawdown since its inception was -99.88%, 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.
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Drawdown Indicators
| EEV | TYD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.88% | -64.28% | -35.60% |
Max Drawdown (1Y)Largest decline over 1 year | -58.51% | -13.54% | -44.97% |
Max Drawdown (3Y)Largest decline over 3 years | -77.51% | -23.96% | -53.55% |
Max Drawdown (5Y)Largest decline over 5 years | -81.14% | -59.84% | -21.30% |
Max Drawdown (10Y)Largest decline over 10 years | -93.39% | -64.28% | -29.11% |
Current DrawdownCurrent decline from peak | -99.86% | -60.15% | -39.71% |
Average DrawdownAverage peak-to-trough decline | -93.02% | -22.16% | -70.86% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 33.00% | 5.95% | +27.05% |
Volatility
EEV vs. TYD - Volatility Comparison
ProShares UltraShort MSCI Emerging Markets (EEV) has a higher volatility of 22.55% compared to Direxion Daily 7-10 Year Treasury Bull 3X (TYD) at 4.65%. 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.
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Volatility by Period
| EEV | TYD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 22.55% | 4.65% | +17.90% |
Volatility (6M)Calculated over the trailing 6-month period | 43.38% | 10.29% | +33.09% |
Volatility (1Y)Calculated over the trailing 1-year period | 47.68% | 13.84% | +33.84% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 39.86% | 22.98% | +16.88% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 41.55% | 20.20% | +21.35% |
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 7.23%, more than TYD's 3.36% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EEV ProShares UltraShort MSCI Emerging Markets | 7.23% | 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 | 3.36% | 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
EEV and TYD have a correlation of -0.24, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
EEV has higher volatility (22.55%) compared to TYD (4.65%). In terms of maximum drawdown, EEV dropped -99.88% vs TYD's -64.28%.
On 10-year performance, TYD leads with -5.51% vs -22.12% for EEV. On fees, EEV is cheaper at 0.95% per year. On volatility, TYD has been the lower-risk option at 4.65%. 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 -5.51% return vs -22.12%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
EEV is cheaper with a 0.95% expense ratio, compared with 1.09% for TYD.
EEV has the higher dividend yield at 7.23%, compared with 3.36% for 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.
TYD currently has the higher Sharpe Ratio (-0.19 vs -1.05), 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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