TYA vs. TYD
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 -1.87%/yr vs -4.91%/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
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Returns By Period
In the year-to-date period, TYA achieves a -5.34% return, which is significantly higher than TYD's -7.02% return.
TYA
- 1D
- 0.27%
- 1M
- 0.70%
- YTD
- -5.34%
- 6M
- -5.34%
- 1Y
- -0.95%
- 3Y*
- -1.87%
- 5Y*
- —
- 10Y*
- —
TYD
- 1D
- -0.47%
- 1M
- 0.30%
- YTD
- -7.02%
- 6M
- -7.06%
- 1Y
- -2.87%
- 3Y*
- -4.91%
- 5Y*
- -13.23%
- 10Y*
- -5.34%
TYA vs. TYD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
TYA Simplify Intermediate Term Treasury Futures Strategy ETF | -5.34% | 14.38% | -9.63% | -2.23% | -37.62% | -0.80% |
TYD Direxion Daily 7-10 Year Treasury Bull 3X | -7.02% | 11.68% | -13.89% | -2.87% | -43.32% | -0.76% |
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 28, 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.
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Return for Risk
TYA vs. TYD — Risk / Return Rank
TYA
TYD
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.
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.
| TYA | TYD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.13 | ||
| Sortino ratioReturn per unit of downside risk | +0.19 | ||
| Omega ratioGain probability vs. loss probability | 1.00 | 0.98 | +0.02 |
| Calmar ratioReturn relative to maximum drawdown | -0.08 | -0.21 | +0.13 |
| Martin ratioReturn relative to average drawdown | -0.20 | -0.52 | +0.32 |
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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.
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Drawdown Indicators
| TYA | TYD | Difference | |
|---|---|---|---|
Max DrawdownLargest 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 | -21.36% | -24.62% | +3.26% |
Max Drawdown (5Y)Largest decline over 5 years | — | -59.84% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -64.28% | — |
Current DrawdownCurrent decline from peak | -41.65% | -59.59% | +17.94% |
Average DrawdownAverage peak-to-trough decline | -35.88% | -22.05% | -13.83% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.67% | 5.54% | -0.87% |
Volatility
TYA vs. TYD - Volatility Comparison
The current volatility for Simplify Intermediate Term Treasury Futures Strategy ETF (TYA) is 3.58%, while Direxion Daily 7-10 Year Treasury Bull 3X (TYD) has a volatility of 4.04%. This indicates that TYA 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.
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Volatility by Period
| TYA | TYD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.58% | 4.04% | -0.46% |
Volatility (6M)Calculated over the trailing 6-month period | 9.14% | 9.96% | -0.82% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.62% | 13.85% | -1.23% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 20.50% | 22.98% | -2.48% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.50% | 20.33% | +0.17% |
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 3.88%, more than TYD's 3.26% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
TYA Simplify Intermediate Term Treasury Futures Strategy ETF | 3.88% | 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 | 3.26% | 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
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.
TYD has higher volatility (4.04%) compared to TYA (3.58%). In terms of maximum drawdown, TYA dropped -51.15% vs TYD's -64.28%.
On 3-year performance, TYA leads with -1.87% vs -4.91% for TYD. On fees, TYA is cheaper at 0.15% per year. On volatility, TYA has been the lower-risk option at 3.58%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, TYA has performed better with a -1.87% return vs -4.91%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
TYA is cheaper with a 0.15% expense ratio, compared with 1.09% for TYD.
TYA has the higher dividend yield at 3.88%, compared with 3.26% for 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.
TYA currently has the higher Sharpe Ratio (-0.08 vs -0.21), 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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