PST vs. TYO
Compare and contrast key facts about ProShares UltraShort 7-10 Year Treasury (PST) and Direxion Daily 7-10 Year Treasury Bear 3X (TYO).
PST and TYO are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. PST is a passively managed fund by ProShares that tracks the performance of the ICE BofA US Treasury (7-10 Y) (-200%). It was launched on May 1, 2008. TYO is a passively managed fund by Direxion that tracks the performance of the NYSE 7-10 Year Treasury Bond Index. It was launched on Apr 16, 2009. Both PST and TYO are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Performance
PST vs. TYO - Performance Comparison
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PST vs. TYO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PST ProShares UltraShort 7-10 Year Treasury | 2.06% | -4.42% | 12.27% | 3.17% | 38.55% | 4.01% | -18.67% | -11.03% | 1.72% | -4.52% |
TYO Direxion Daily 7-10 Year Treasury Bear 3X | 3.84% | -7.64% | 18.94% | 1.06% | 58.83% | 7.47% | -28.56% | -18.71% | -1.42% | -8.94% |
Returns By Period
In the year-to-date period, PST achieves a 2.06% return, which is significantly lower than TYO's 3.84% return. Over the past 10 years, PST has outperformed TYO with an annualized return of 1.99%, while TYO has yielded a comparatively lower 1.01% annualized return.
PST
- 1D
- -0.23%
- 1M
- 5.54%
- YTD
- 2.06%
- 6M
- 2.99%
- 1Y
- 1.28%
- 3Y*
- 6.13%
- 5Y*
- 7.99%
- 10Y*
- 1.99%
TYO
- 1D
- -0.22%
- 1M
- 8.42%
- YTD
- 3.84%
- 6M
- 5.01%
- 1Y
- 3.53%
- 3Y*
- 8.35%
- 5Y*
- 10.58%
- 10Y*
- 1.01%
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PST vs. TYO - Expense Ratio Comparison
PST has a 0.95% expense ratio, which is lower than TYO's 1.08% expense ratio.
Return for Risk
PST vs. TYO — Risk / Return Rank
PST
TYO
PST vs. TYO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares UltraShort 7-10 Year Treasury (PST) and Direxion Daily 7-10 Year Treasury Bear 3X (TYO). 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.
| PST | TYO | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.11 | 0.22 | -0.11 |
Sortino ratioReturn per unit of downside risk | 0.24 | 0.43 | -0.19 |
Omega ratioGain probability vs. loss probability | 1.03 | 1.05 | -0.02 |
Calmar ratioReturn relative to maximum drawdown | 0.10 | 0.23 | -0.13 |
Martin ratioReturn relative to average drawdown | 0.16 | 0.38 | -0.22 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| PST | TYO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.11 | 0.22 | -0.11 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.52 | 0.46 | +0.06 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.15 | 0.05 | +0.10 |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.39 | -0.35 | -0.04 |
Correlation
The correlation between PST and TYO is 0.95, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Dividends
PST vs. TYO - Dividend Comparison
PST's dividend yield for the trailing twelve months is around 3.16%, more than TYO's 2.93% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
PST ProShares UltraShort 7-10 Year Treasury | 3.16% | 3.47% | 3.61% | 3.69% | 0.02% | 0.00% | 0.11% | 1.85% | 0.66% |
TYO Direxion Daily 7-10 Year Treasury Bear 3X | 2.93% | 3.69% | 4.22% | 3.62% | 0.09% | 0.00% | 0.36% | 1.58% | 0.32% |
Drawdowns
PST vs. TYO - Drawdown Comparison
The maximum PST drawdown since its inception was -79.25%, smaller than the maximum TYO drawdown of -89.25%. Use the drawdown chart below to compare losses from any high point for PST and TYO.
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Drawdown Indicators
| PST | TYO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -79.25% | -89.25% | +10.00% |
Max Drawdown (1Y)Largest decline over 1 year | -8.22% | -11.86% | +3.64% |
Max Drawdown (5Y)Largest decline over 5 years | -16.19% | -24.40% | +8.21% |
Max Drawdown (10Y)Largest decline over 10 years | -36.07% | -52.21% | +16.14% |
Current DrawdownCurrent decline from peak | -64.99% | -78.07% | +13.08% |
Average DrawdownAverage peak-to-trough decline | -61.45% | -71.03% | +9.58% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.01% | 7.10% | -2.09% |
Volatility
PST vs. TYO - Volatility Comparison
The current volatility for ProShares UltraShort 7-10 Year Treasury (PST) is 3.88%, while Direxion Daily 7-10 Year Treasury Bear 3X (TYO) has a volatility of 5.92%. This indicates that PST experiences smaller price fluctuations and is considered to be less risky than TYO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PST | TYO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.88% | 5.92% | -2.04% |
Volatility (6M)Calculated over the trailing 6-month period | 6.53% | 9.68% | -3.15% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.90% | 16.40% | -4.50% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.58% | 23.19% | -7.61% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 13.33% | 20.22% | -6.89% |