TYD vs. BZQ
TYD (Direxion Daily 7-10 Year Treasury Bull 3X) and BZQ (ProShares UltraShort MSCI Brazil Capped) are both exchange-traded funds - TYD is a Leveraged Bonds fund tracking the NYSE 7-10 Year Treasury Bond Index, while BZQ is a Leveraged Equities fund tracking the MSCI Brazil 25-50 (-200%). Both are passively managed. Over the past 10 years, TYD returned -5.35%/yr vs -34.51%/yr for BZQ. At a 0.10 correlation, their price movements are largely independent. TYD charges 1.09%/yr vs 0.95%/yr for BZQ.
Performance
TYD vs. BZQ - Performance Comparison
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Returns By Period
In the year-to-date period, TYD achieves a -7.44% return, which is significantly higher than BZQ's -26.41% return. Over the past 10 years, TYD has outperformed BZQ with an annualized return of -5.35%, while BZQ has yielded a comparatively lower -34.51% annualized return.
TYD
- 1D
- -0.30%
- 1M
- -2.72%
- 6M
- -7.62%
- YTD
- -7.44%
- 1Y
- -1.23%
- 3Y*
- -4.61%
- 5Y*
- -14.13%
- 10Y*
- -5.35%
BZQ
- 1D
- 3.58%
- 1M
- -5.36%
- 6M
- -18.84%
- YTD
- -26.41%
- 1Y
- -49.60%
- 3Y*
- -21.88%
- 5Y*
- -23.87%
- 10Y*
- -34.51%
TYD vs. BZQ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
TYD Direxion Daily 7-10 Year Treasury Bull 3X | -7.44% | 11.68% | -13.89% | -2.87% | -43.32% | -11.36% | 27.62% | 17.88% | 0.76% | 5.64% |
BZQ ProShares UltraShort MSCI Brazil Capped | -26.41% | -57.90% | 98.84% | -49.11% | -44.20% | 6.45% | -52.88% | -48.20% | -21.52% | -49.73% |
Correlation
The correlation between TYD and BZQ is -0.19, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.19 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.20 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.10 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.01 |
Correlation (All Time) Calculated using the full available price history since Jun 19, 2009 | 0.10 |
The correlation between TYD and BZQ shifts across timeframes, from -0.20 (3 years) to 0.10 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
TYD vs. BZQ — Risk / Return Rank
TYD
BZQ
TYD vs. BZQ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Direxion Daily 7-10 Year Treasury Bull 3X (TYD) and ProShares UltraShort MSCI Brazil Capped (BZQ). 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.
| TYD | BZQ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.91 | ||
| Sortino ratioReturn per unit of downside risk | +1.53 | ||
| Omega ratioGain probability vs. loss probability | 1.00 | 0.83 | +0.17 |
| Calmar ratioReturn relative to maximum drawdown | -0.09 | -0.76 | +0.67 |
| Martin ratioReturn relative to average drawdown | -0.20 | -1.14 | +0.94 |
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Drawdowns
TYD vs. BZQ - Drawdown Comparison
The maximum TYD drawdown since its inception was -64.28%, smaller than the maximum BZQ drawdown of -99.82%. Use the drawdown chart below to compare losses from any high point for TYD and BZQ.
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Drawdown Indicators
| TYD | BZQ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -64.28% | -99.82% | +35.54% |
Max Drawdown (1Y)Largest decline over 1 year | -13.54% | -65.20% | +51.66% |
Max Drawdown (3Y)Largest decline over 3 years | -23.96% | -77.31% | +53.35% |
Max Drawdown (5Y)Largest decline over 5 years | -59.84% | -88.65% | +28.81% |
Max Drawdown (10Y)Largest decline over 10 years | -64.28% | -98.94% | +34.66% |
Current DrawdownCurrent decline from peak | -59.77% | -99.76% | +39.99% |
Average DrawdownAverage peak-to-trough decline | -22.19% | -84.62% | +62.43% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.09% | 43.47% | -37.38% |
Volatility
TYD vs. BZQ - Volatility Comparison
The current volatility for Direxion Daily 7-10 Year Treasury Bull 3X (TYD) is 4.31%, while ProShares UltraShort MSCI Brazil Capped (BZQ) has a volatility of 12.02%. This indicates that TYD experiences smaller price fluctuations and is considered to be less risky than BZQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| TYD | BZQ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.31% | 12.02% | -7.71% |
Volatility (6M)Calculated over the trailing 6-month period | 10.33% | 39.97% | -29.64% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.79% | 49.98% | -36.19% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 22.96% | 55.14% | -32.18% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.20% | 66.57% | -46.37% |
TYD vs. BZQ - Expense Ratio Comparison
TYD has a 1.09% expense ratio, which is higher than BZQ's 0.95% expense ratio.
Dividends
TYD vs. BZQ - Dividend Comparison
TYD's dividend yield for the trailing twelve months is around 3.33%, less than BZQ's 7.50% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BZQ ProShares UltraShort MSCI Brazil Capped | 7.50% | 5.96% | 3.26% | 4.51% | 0.22% | 0.00% | 0.21% | 2.13% | 0.28% | 0.00% | 0.00% | 0.00% |
TYD Direxion Daily 7-10 Year Treasury Bull 3X | 3.33% | 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
TYD and BZQ have a correlation of -0.19, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BZQ has higher volatility (12.02%) compared to TYD (4.31%). In terms of maximum drawdown, TYD dropped -64.28% vs BZQ's -99.82%.
On 10-year performance, TYD leads with -5.35% vs -34.51% for BZQ. On fees, BZQ is cheaper at 0.95% per year. On volatility, TYD has been the lower-risk option at 4.31%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, TYD has performed better with a -5.35% return vs -34.51%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
BZQ is cheaper with a 0.95% expense ratio, compared with 1.09% for TYD.
BZQ has the higher dividend yield at 7.50%, compared with 3.33% for TYD.
TYD is categorized as Leveraged Bonds, while BZQ is Leveraged Equities. TYD tracks NYSE 7-10 Year Treasury Bond Index, while BZQ tracks MSCI Brazil 25-50 (-200%). They also come from different issuers: Direxion and ProShares. Their fees differ too: 1.09% for TYD and 0.95% for BZQ.
TYD currently has the higher Sharpe Ratio (-0.09 vs -1.00), 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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