SPTL vs. TYO
Compare and contrast key facts about SPDR Portfolio Long Term Treasury ETF (SPTL) and Direxion Daily 7-10 Year Treasury Bear 3X (TYO).
SPTL and TYO are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. SPTL is a passively managed fund by State Street that tracks the performance of the Bloomberg US Aggregate Government - Treasury - Long. It was launched on May 23, 2007. 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 SPTL 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.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: SPTL or TYO.
Key characteristics
| SPTL | TYO | |
|---|---|---|
| YTD Return | -6.48% | 15.32% |
| 1Y Return | -8.67% | 29.87% |
| 3Y Return (Ann) | -9.65% | 19.96% |
| 5Y Return (Ann) | -3.63% | 4.76% |
| 10Y Return (Ann) | 0.38% | -3.09% |
| Sharpe Ratio | -0.62 | 1.34 |
| Daily Std Dev | 15.17% | 24.34% |
| Max Drawdown | -46.20% | -89.25% |
| Current Drawdown | -39.97% | -77.83% |
Correlation
The correlation between SPTL and TYO is -0.88. This indicates that the assets' prices tend to move in opposite directions. Negative correlation can be particularly beneficial for diversification and risk management, as one asset may offset the losses of the other during market fluctuations.
Performance
SPTL vs. TYO - Performance Comparison
In the year-to-date period, SPTL achieves a -6.48% return, which is significantly lower than TYO's 15.32% return. Over the past 10 years, SPTL has outperformed TYO with an annualized return of 0.38%, while TYO has yielded a comparatively lower -3.09% annualized return. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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SPTL vs. TYO - Expense Ratio Comparison
SPTL has a 0.06% expense ratio, which is lower than TYO's 1.08% expense ratio.
Risk-Adjusted Performance
SPTL vs. TYO - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR Portfolio Long Term Treasury ETF (SPTL) 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.
Dividends
SPTL vs. TYO - Dividend Comparison
SPTL's dividend yield for the trailing twelve months is around 3.69%, less than TYO's 4.10% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SPTL SPDR Portfolio Long Term Treasury ETF | 3.69% | 3.24% | 2.75% | 1.68% | 1.71% | 2.45% | 2.69% | 2.53% | 2.56% | 2.60% | 2.63% | 2.98% |
TYO Direxion Daily 7-10 Year Treasury Bear 3X | 4.10% | 3.62% | 0.09% | 0.00% | 0.37% | 1.58% | 0.32% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Drawdowns
SPTL vs. TYO - Drawdown Comparison
The maximum SPTL drawdown since its inception was -46.20%, smaller than the maximum TYO drawdown of -89.25%. Use the drawdown chart below to compare losses from any high point for SPTL and TYO. For additional features, visit the drawdowns tool.
Volatility
SPTL vs. TYO - Volatility Comparison
The current volatility for SPDR Portfolio Long Term Treasury ETF (SPTL) is 3.02%, while Direxion Daily 7-10 Year Treasury Bear 3X (TYO) has a volatility of 5.24%. This indicates that SPTL 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.