TYA vs. TYD

Last updated Jun 4, 2026

TYA (Simplify Intermediate Term Treasury Futures Strategy ETF) and TYD (Direxion Daily 7-10 Year Treasury Bull 3X) are both exchange-traded funds - TYA is a Government Bonds fund actively managed by Simplify, while TYD is a Leveraged Bonds fund tracking the NYSE 7-10 Year Treasury Bond Index. TYA is actively managed, while TYD is passively managed. Over the past 3 years, TYA returned -2.45%/yr vs -5.07%/yr for TYD. With a 0.98 correlation, they move nearly in lockstep. TYA charges 0.15%/yr vs 1.09%/yr for TYD.

Performance

TYA vs. TYD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Simplify Intermediate Term Treasury Futures Strategy ETF (TYA) 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, TYA achieves a -5.08% return, which is significantly higher than TYD's -6.21% return.

TYA

• 1D: -0.63%
• 1M: -0.93%
• YTD: -5.08%
• 6M: -6.88%
• 1Y: 2.03%
• 3Y*: -2.45%
• 5Y*: —
• 10Y*: —

TYD

• 1D: -0.86%
• 1M: -1.19%
• YTD: -6.21%
• 6M: -8.43%
• 1Y: 0.66%
• 3Y*: -5.07%
• 5Y*: -12.90%
• 10Y*: -4.71%

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

TYA vs. TYD - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
TYA Simplify Intermediate Term Treasury Futures Strategy ETF	-5.08%	14.38%	-9.63%	-2.23%	-37.62%	-0.68%
TYD Direxion Daily 7-10 Year Treasury Bull 3X	-6.21%	11.68%	-13.89%	-2.87%	-43.32%	0.42%

Correlation

The correlation between TYA and TYD is 0.98 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.98
Correlation (3Y) Calculated over the trailing 3-year period	0.98
Correlation (All Time) Calculated using the full available price history since Sep 29, 2021	0.98

The correlation between TYA and TYD has been stable across timeframes, ranging from 0.98 to 0.98 - a consistent structural relationship.

TYA vs. TYD - Sectors Allocation Comparison

Sectors	TYA	TYD
Financial Services	24.7%	21.5%
Basic Materials	-	-
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Energy	-	-
Healthcare	-	-
Industrials	-	-
Real Estate	-	-
Technology	-	-
Utilities	-	-

Return for Risk

TYA vs. TYD — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

TYA

TYA Risk / Return Rank: 10
TYA Sharpe Ratio Rank: 11
TYA Sortino Ratio Rank: 10
TYA Omega Ratio Rank: 10
TYA Calmar Ratio Rank: 10
TYA Martin Ratio Rank: 11

TYD

TYD Risk / Return Rank: 9
TYD Sharpe Ratio Rank: 9
TYD Sortino Ratio Rank: 9
TYD Omega Ratio Rank: 8
TYD Calmar Ratio Rank: 9
TYD Martin Ratio Rank: 9

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

TYA vs. TYD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Simplify Intermediate Term Treasury Futures Strategy ETF (TYA) 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.

	TYA	TYD	Difference
Sharpe ratio: Return per unit of total volatility	0.16	0.05	+0.11
Sortino ratio: Return per unit of downside risk	0.32	0.17	+0.15
Omega ratio: Gain probability vs. loss probability	1.04	1.02	+0.02
Calmar ratio: Return relative to maximum drawdown	0.17	0.05	+0.12
Martin ratio: Return relative to average drawdown	0.49	0.13	+0.36
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

TYA vs. TYD - Sharpe Ratio Comparison

The current TYA Sharpe Ratio is 0.16, which is higher than the TYD Sharpe Ratio of 0.05. The chart below compares the historical Sharpe Ratios of TYA 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.

Sharpe Ratios by Period

	TYA	TYD	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.16	0.05	+0.11
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	-0.56	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	-0.23	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.51	0.05	-0.57

Drawdowns

TYA vs. TYD - Drawdown Comparison

The maximum TYA drawdown since its inception was -51.15%, smaller than the maximum TYD drawdown of -64.28%. Use the drawdown chart below to compare losses from any high point for TYA and TYD.

Drawdown Indicators

	TYA	TYD	Difference
Max Drawdown Largest peak-to-trough decline	-51.15%	-64.28%	+13.13%
Max Drawdown (1Y) Largest decline over 1 year	-11.80%	-13.54%	+1.74%
Max Drawdown (3Y) Largest decline over 3 years	-22.51%	-25.04%	+2.53%
Max Drawdown (5Y) Largest decline over 5 years	—	-59.84%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-64.28%	—
Current Drawdown Current decline from peak	-41.49%	-59.24%	+17.75%
Average Drawdown Average peak-to-trough decline	-35.85%	-21.95%	-13.90%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.17%	4.97%	-0.80%

Volatility

TYA vs. TYD - Volatility Comparison

Simplify Intermediate Term Treasury Futures Strategy ETF (TYA) and Direxion Daily 7-10 Year Treasury Bull 3X (TYD) have volatilities of 4.11% and 4.20%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TYA	TYD	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.11%	4.20%	-0.09%
Volatility (6M) Calculated over the trailing 6-month period	8.81%	9.58%	-0.77%
Volatility (1Y) Calculated over the trailing 1-year period	12.91%	14.13%	-1.22%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.57%	22.98%	-2.41%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.57%	20.36%	+0.21%

TYA vs. TYD - Expense Ratio Comparison

TYA has a 0.15% expense ratio, which is lower than TYD's 1.09% expense ratio.

Dividends

TYA vs. TYD - Dividend Comparison

TYA's dividend yield for the trailing twelve months is around 3.87%, more than TYD's 3.23% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
TYA Simplify Intermediate Term Treasury Futures Strategy ETF	3.87%	3.85%	4.84%	4.28%	2.23%	0.11%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
TYD Direxion Daily 7-10 Year Treasury Bull 3X	3.23%	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 TYA and TYD in my portfolio?

With a correlation of 0.98, TYA and TYD move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, TYA or TYD?

TYD has higher volatility (4.20%) compared to TYA (4.11%). In terms of maximum drawdown, TYA dropped -51.15% vs TYD's -64.28%.

Which ETF is better, TYA or TYD?

On 3-year performance, TYA leads with -2.45% vs -5.07% for TYD. On fees, TYA is cheaper at 0.15% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, TYA or TYD?

Over the 3-year period, TYA has performed better with a -2.45% return vs -5.07%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, TYA or TYD?

TYA is cheaper with a 0.15% expense ratio, compared with 1.09% for TYD.

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

TYA has the higher dividend yield at 3.87%, compared with 3.23% for TYD.

What is the main difference between TYA and TYD?

TYA is categorized as Government Bonds, while TYD is Leveraged Bonds. They also come from different issuers: Simplify and Direxion. Their fees differ too: 0.15% for TYA and 1.09% for TYD.

Which has better risk-adjusted returns?

TYA currently has the higher Sharpe Ratio (0.16 vs 0.05), 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.