ERX vs. TYD
ERX (Direxion Daily Energy Bull 2X Shares) and TYD (Direxion Daily 7-10 Year Treasury Bull 3X) are both exchange-traded funds - ERX is a Leveraged Equities fund tracking the Energy Select Sector Index (300%), 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, ERX returned -9.49%/yr vs -5.55%/yr for TYD. At a correlation of -0.26, they often move in opposite directions. Both charge a 1.09% expense ratio.
Performance
ERX vs. TYD - Performance Comparison
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Returns By Period
In the year-to-date period, ERX achieves a 65.86% return, which is significantly higher than TYD's -8.67% return. Over the past 10 years, ERX has underperformed TYD with an annualized return of -9.49%, while TYD has yielded a comparatively higher -5.55% annualized return.
ERX
- 1D
- 1.80%
- 1M
- 19.51%
- 6M
- 47.32%
- YTD
- 65.86%
- 1Y
- 82.01%
- 3Y*
- 18.96%
- 5Y*
- 35.56%
- 10Y*
- -9.49%
- ALL TIME*
- -7.16%
TYD
- 1D
- -0.78%
- 1M
- -3.38%
- 6M
- -6.39%
- YTD
- -8.67%
- 1Y
- -3.97%
- 3Y*
- -4.77%
- 5Y*
- -14.54%
- 10Y*
- -5.55%
- ALL TIME*
- 0.96%
ERX vs. TYD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
ERX Direxion Daily Energy Bull 2X Shares | 65.86% | 2.79% | 1.09% | -12.26% | 130.58% | 111.91% | -91.60% | 17.13% | -55.94% | -11.60% |
TYD Direxion Daily 7-10 Year Treasury Bull 3X | -8.67% | 11.68% | -13.89% | -2.87% | -43.32% | -11.36% | 27.62% | 17.88% | 0.76% | 5.64% |
Correlation
The correlation between ERX 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 | -0.13 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.14 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.21 |
Correlation (All Time) Calculated using the full available price history since Apr 16, 2009 | -0.26 |
The correlation between ERX and TYD shifts across timeframes, from -0.26 (all time) to -0.13 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
ERX vs. TYD — Risk / Return Rank
ERX
TYD
ERX vs. TYD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Direxion Daily Energy Bull 2X Shares (ERX) 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.
| ERX | TYD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.25 | ||
| Sortino ratioReturn per unit of downside risk | +2.71 | ||
| Omega ratioGain probability vs. loss probability | 1.30 | 0.96 | +0.33 |
| Calmar ratioReturn relative to maximum drawdown | 2.75 | -0.29 | +3.05 |
| Martin ratioReturn relative to average drawdown | 7.03 | -0.64 | +7.67 |
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Drawdowns
ERX vs. TYD - Drawdown Comparison
The maximum ERX drawdown since its inception was -99.54%, which is greater than TYD's maximum drawdown of -64.28%. Use the drawdown chart below to compare losses from any high point for ERX and TYD.
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Drawdown Indicators
| ERX | TYD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.54% | -64.28% | -35.26% |
Max Drawdown (1Y)Largest decline over 1 year | -29.97% | -13.54% | -16.43% |
Max Drawdown (3Y)Largest decline over 3 years | -42.34% | -22.32% | -20.02% |
Max Drawdown (5Y)Largest decline over 5 years | -46.90% | -59.84% | +12.94% |
Max Drawdown (10Y)Largest decline over 10 years | -98.59% | -64.28% | -34.31% |
Current DrawdownCurrent decline from peak | -91.63% | -60.31% | -31.32% |
Average DrawdownAverage peak-to-trough decline | -67.20% | -22.22% | -44.98% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 11.70% | 6.24% | +5.46% |
Volatility
ERX vs. TYD - Volatility Comparison
Direxion Daily Energy Bull 2X Shares (ERX) has a higher volatility of 11.29% compared to Direxion Daily 7-10 Year Treasury Bull 3X (TYD) at 3.93%. This indicates that ERX'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
| ERX | TYD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 11.29% | 3.93% | +7.36% |
Volatility (6M)Calculated over the trailing 6-month period | 33.42% | 10.30% | +23.12% |
Volatility (1Y)Calculated over the trailing 1-year period | 42.09% | 13.80% | +28.29% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 51.52% | 22.92% | +28.60% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 68.94% | 20.20% | +48.74% |
ERX vs. TYD - Expense Ratio Comparison
Both ERX and TYD have an expense ratio of 1.09%.
Dividends
ERX vs. TYD - Dividend Comparison
ERX's dividend yield for the trailing twelve months is around 1.54%, less than TYD's 3.38% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ERX Direxion Daily Energy Bull 2X Shares | 1.54% | 2.54% | 2.94% | 3.17% | 2.23% | 2.16% | 2.35% | 1.56% | 3.10% | 0.85% | 0.00% | 0.00% |
TYD Direxion Daily 7-10 Year Treasury Bull 3X | 3.38% | 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
ERX 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.
ERX has higher volatility (11.29%) compared to TYD (3.93%). In terms of maximum drawdown, ERX dropped -99.54% vs TYD's -64.28%.
On 10-year performance, TYD leads with -5.55% vs -9.49% for ERX. Both ETFs have the same 1.09% expense ratio. On volatility, TYD has been the lower-risk option at 3.93%. 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 -5.55% return vs -9.49%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
ERX and TYD have the same expense ratio: 1.09% per year.
TYD has the higher dividend yield at 3.38%, compared with 1.54% for ERX.
ERX is categorized as Leveraged Equities, while TYD is Leveraged Bonds. ERX tracks Energy Select Sector Index (300%), while TYD tracks NYSE 7-10 Year Treasury Bond Index.
ERX currently has the higher Sharpe Ratio (1.96 vs -0.29), 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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