RSBA vs. TYD

Last updated Aug 1, 2026

RSBA (Return Stacked Bonds & Merger Arbitrage ETF) and TYD (Direxion Daily 7-10 Year Treasury Bull 3X) are both Leveraged Bonds funds. RSBA is actively managed, while TYD is passively managed. Over the past year, RSBA returned 1.14% vs -8.85% for TYD. Their correlation of 0.89 means they have usually moved in the same direction. RSBA charges 0.96%/yr vs 1.09%/yr for TYD.

Performance

RSBA vs. TYD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Return Stacked Bonds & Merger Arbitrage ETF (RSBA) 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, RSBA achieves a -0.94% return, which is significantly higher than TYD's -10.03% return.

RSBA

• 1D: -0.53%
• 1M: -1.93%
• 6M: -1.22%
• YTD: -0.94%
• 1Y: 1.14%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 4.04%

TYD

• 1D: -1.01%
• 1M: -4.64%
• 6M: -8.59%
• YTD: -10.03%
• 1Y: -8.85%
• 3Y*: -3.83%
• 5Y*: -14.92%
• 10Y*: -5.77%
• ALL TIME*: 0.87%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
RSBA Return Stacked Bonds & Merger Arbitrage ETF	$248.34K	$334.74K	$422.31K
TYD Direxion Daily 7-10 Year Treasury Bull 3X	$420.72K	$411.37K	$510.43K

RSBA vs. TYD - Yearly Performance Comparison

	2026 (YTD)	2025	2024
RSBA Return Stacked Bonds & Merger Arbitrage ETF	-0.94%	7.73%	-0.11%
TYD Direxion Daily 7-10 Year Treasury Bull 3X	-10.03%	11.68%	-3.65%

Correlation

The correlation between RSBA and TYD is 0.88, meaning they have usually moved in the same direction, including during past declines.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.88
Correlation (All Time) Calculated using the full available price history since Dec 18, 2024	0.89

The correlation between RSBA and TYD has been stable across timeframes, ranging from 0.88 to 0.89 - a consistent structural relationship.

Return for Risk

RSBA vs. TYD — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

RSBA

RSBA Risk / Return Rank: 22
RSBA Sharpe Ratio Rank: 21
RSBA Sortino Ratio Rank: 20
RSBA Omega Ratio Rank: 19
RSBA Calmar Ratio Rank: 24
RSBA Martin Ratio Rank: 25

TYD

TYD Risk / Return Rank: 6
TYD Sharpe Ratio Rank: 6
TYD Sortino Ratio Rank: 5
TYD Omega Ratio Rank: 5
TYD Calmar Ratio Rank: 6
TYD Martin Ratio Rank: 5

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

RSBA vs. TYD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Return Stacked Bonds & Merger Arbitrage ETF (RSBA) 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.

	RSBA	TYD	Difference
Sharpe ratio: Return per unit of total volatility	0.45	-0.41	+0.86
Sortino ratio: Return per unit of downside risk	0.67	-0.50	+1.17
Omega ratio: Gain probability vs. loss probability	1.08	0.94	+0.13
Calmar ratio: Return relative to maximum drawdown	0.75	-0.39	+1.14
Martin ratio: Return relative to average drawdown	1.89	-0.84	+2.74

RSBA vs. TYD - Sharpe Ratio Comparison

The current RSBA Sharpe Ratio is 0.45, which is higher than the TYD Sharpe Ratio of -0.41. The chart below compares the historical Sharpe Ratios of RSBA 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.

Drawdowns

RSBA vs. TYD - Drawdown Comparison

The maximum RSBA drawdown since its inception was -2.83%, smaller than the maximum TYD drawdown of -64.28%. Use the drawdown chart below to compare losses from any high point for RSBA and TYD.

Drawdown Indicators

	RSBA	TYD	Difference
Max Drawdown Largest peak-to-trough decline	-2.83%	-64.28%	+61.45%
Max Drawdown (1Y) Largest decline over 1 year	-2.74%	-14.41%	+11.67%
Max Drawdown (3Y) Largest decline over 3 years	—	-22.32%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-59.80%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-64.28%	—
Current Drawdown Current decline from peak	-2.25%	-60.90%	+58.65%
Average Drawdown Average peak-to-trough decline	-0.83%	-22.29%	+21.46%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.08%	6.69%	-5.61%

Volatility

RSBA vs. TYD - Volatility Comparison

The current volatility for Return Stacked Bonds & Merger Arbitrage ETF (RSBA) is 1.36%, while Direxion Daily 7-10 Year Treasury Bull 3X (TYD) has a volatility of 3.45%. This indicates that RSBA experiences smaller price fluctuations and is considered to be less risky than TYD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	RSBA	TYD	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.36%	3.45%	-2.09%
Volatility (6M) Calculated over the trailing 6-month period	3.60%	10.38%	-6.78%
Volatility (1Y) Calculated over the trailing 1-year period	4.57%	13.68%	-9.11%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.05%	22.92%	-17.87%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.05%	20.18%	-15.13%

RSBA vs. TYD - Expense Ratio Comparison

RSBA has a 0.96% expense ratio, which is lower than TYD's 1.09% expense ratio.

Dividends

RSBA vs. TYD - Dividend Comparison

RSBA's dividend yield for the trailing twelve months is around 3.40%, which matches TYD's 3.43% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
RSBA Return Stacked Bonds & Merger Arbitrage ETF	3.40%	3.37%	0.01%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
TYD Direxion Daily 7-10 Year Treasury Bull 3X	3.43%	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 RSBA and TYD in my portfolio?

RSBA and TYD have a correlation of 0.88, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, RSBA or TYD?

TYD has higher volatility (3.45%) compared to RSBA (1.36%). In terms of maximum drawdown, RSBA dropped -2.83% vs TYD's -64.28%.

Which ETF is better, RSBA or TYD?

On 1-year performance, RSBA leads with 1.14% vs -8.85% for TYD. On fees, RSBA is cheaper at 0.96% per year. On volatility, RSBA has been the lower-risk option at 1.36%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, RSBA or TYD?

Over the 1-year period, RSBA has performed better with a 1.14% return vs -8.85%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, RSBA or TYD?

RSBA is cheaper with a 0.96% expense ratio, compared with 1.09% for TYD.

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

TYD has the higher dividend yield at 3.43%, compared with 3.40% for RSBA.

What is the main difference between RSBA and TYD?

They also come from different issuers: Return Stacked and Direxion. Their fees differ too: 0.96% for RSBA and 1.09% for TYD.

Which has better risk-adjusted returns?

RSBA currently has the higher Sharpe Ratio (0.45 vs -0.41), 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.