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TYD vs. BZQ
Performance
Return for Risk
Drawdowns
Volatility
Dividends

TYD vs. BZQ

Last updated Jun 4, 2026

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 -4.71%/yr vs -36.91%/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

The chart below illustrates the hypothetical performance of a $10,000 investment in Direxion Daily 7-10 Year Treasury Bull 3X (TYD) and ProShares UltraShort MSCI Brazil Capped (BZQ). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, TYD achieves a -6.21% return, which is significantly higher than BZQ's -22.16% return. Over the past 10 years, TYD has outperformed BZQ with an annualized return of -4.71%, while BZQ has yielded a comparatively lower -36.91% annualized return.

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%

BZQ

1D
6.49%
1M
25.18%
YTD
-22.16%
6M
-17.09%
1Y
-48.65%
3Y*
-24.66%
5Y*
-21.99%
10Y*
-36.91%
*Multi-year figures are annualized to reflect compound growth (CAGR)

TYD vs. BZQ - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
TYD
Direxion Daily 7-10 Year Treasury Bull 3X		-6.21%11.68%-13.89%-2.87%-43.32%-11.36%27.62%17.88%0.76%5.64%
BZQ
ProShares UltraShort MSCI Brazil Capped		-22.16%-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 -0.14, 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

-0.14

Correlation (3Y)
Calculated over the trailing 3-year period

-0.19

Correlation (5Y)
Calculated over the trailing 5-year period

-0.10

Correlation (10Y)
Calculated over the trailing 10-year period

0.00

Correlation (All Time)
Calculated using the full available price history since Jun 22, 2009

0.10

The correlation between TYD and BZQ shifts across timeframes, from -0.19 (3 years) to 0.10 (all time), reflecting how their relationship changes across market environments.

Compare stocks, funds, or ETFs

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Direxion Daily 7-10 Year Treasury Bull 3X

ProShares UltraShort MSCI Brazil Capped

Often compared with TYD:
TYD vs. TMFTYD vs. TYOTYD vs. EDVTYD vs. UJBTYD vs. PEXTYD vs. QQQTYD vs. SPY
Often compared with BZQ:
BZQ vs. EWZBZQ vs. VTIBZQ vs. TSMXBZQ vs. USTBZQ vs. XTAPBZQ vs. XDQQBZQ vs. MULL

Return for Risk

TYD vs. BZQ — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
TYD
TYD Risk / Return Rank: 99
Overall Rank
TYD Sharpe Ratio Rank: 99
Sharpe Ratio Rank
TYD Sortino Ratio Rank: 99
Sortino Ratio Rank
TYD Omega Ratio Rank: 88
Omega Ratio Rank
TYD Calmar Ratio Rank: 99
Calmar Ratio Rank
TYD Martin Ratio Rank: 99
Martin Ratio Rank
BZQ
BZQ Risk / Return Rank: 22
Overall Rank
BZQ Sharpe Ratio Rank: 11
Sharpe Ratio Rank
BZQ Sortino Ratio Rank: 11
Sortino Ratio Rank
BZQ Omega Ratio Rank: 22
Omega Ratio Rank
BZQ Calmar Ratio Rank: 33
Calmar Ratio Rank
BZQ Martin Ratio Rank: 33
Martin Ratio Rank
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.

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.

TYDBZQDifference

Sharpe ratio

Return per unit of total volatility

0.05

-0.98

+1.03

Sortino ratio

Return per unit of downside risk

0.17

-1.53

+1.70

Omega ratio

Gain probability vs. loss probability

1.02

0.83

+0.19

Calmar ratio

Return relative to maximum drawdown

0.05

-0.75

+0.80

Martin ratio

Return relative to average drawdown

0.13

-1.22

+1.35

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

TYD vs. BZQ - Sharpe Ratio Comparison

The current TYD Sharpe Ratio is 0.05, which is higher than the BZQ Sharpe Ratio of -0.98. The chart below compares the historical Sharpe Ratios of TYD and BZQ, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Sharpe Ratios by Period

TYDBZQDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

0.05

-0.98

+1.03

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

-0.56

-0.40

-0.16

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

-0.23

-0.55

+0.32

Sharpe Ratio (All Time)

Calculated using the full available price history

0.05

-0.45

+0.50

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

TYDBZQDifference

Max Drawdown

Largest 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

-25.04%

-77.31%

+52.27%

Max Drawdown (5Y)

Largest decline over 5 years

-59.84%

-88.65%

+28.81%

Max Drawdown (10Y)

Largest decline over 10 years

-64.28%

-99.33%

+35.05%

Current Drawdown

Current decline from peak

-59.24%

-99.74%

+40.50%

Average Drawdown

Average peak-to-trough decline

-21.95%

-84.53%

+62.58%

Ulcer Index

Depth and duration of drawdowns from previous peaks

4.97%

39.99%

-35.02%

Volatility

TYD vs. BZQ - Volatility Comparison

The current volatility for Direxion Daily 7-10 Year Treasury Bull 3X (TYD) is 4.20%, while ProShares UltraShort MSCI Brazil Capped (BZQ) has a volatility of 15.53%. 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

TYDBZQDifference

Volatility (1M)

Calculated over the trailing 1-month period

4.20%

15.53%

-11.33%

Volatility (6M)

Calculated over the trailing 6-month period

9.58%

41.21%

-31.63%

Volatility (1Y)

Calculated over the trailing 1-year period

14.13%

49.62%

-35.49%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

22.98%

55.26%

-32.28%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

20.36%

66.94%

-46.58%

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 3.23%, less than BZQ's 7.09% yield.

PositionTTM20252024202320222021202020192018201720162015
BZQ
ProShares UltraShort MSCI Brazil Capped		7.09%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		3.23%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

TYD and BZQ have a correlation of -0.14, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

BZQ has higher volatility (15.53%) compared to TYD (4.20%). In terms of maximum drawdown, TYD dropped -64.28% vs BZQ's -99.82%.

On 10-year performance, TYD leads with -4.71% vs -36.91% for BZQ. On fees, BZQ is cheaper at 0.95% per year. On volatility, TYD has been the lower-risk option at 4.20%. 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 -4.71% return vs -36.91%. 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 7.09%, compared with 3.23% 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 (0.05 vs -0.98), 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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