TYD vs. FLYU
TYD (Direxion Daily 7-10 Year Treasury Bull 3X) and FLYU (MicroSectors Travel 3X Leveraged ETNs) are both exchange-traded funds - TYD is a Leveraged Bonds fund tracking the NYSE 7-10 Year Treasury Bond Index, while FLYU is a Leveraged Equities fund tracking the MerQube MicroSectors U.S. Travel Index. Both are passively managed. Over the past 3 years, TYD returned -4.77%/yr vs -1.34%/yr for FLYU. At a 0.10 correlation, their price movements are largely independent. TYD charges 1.09%/yr vs 0.95%/yr for FLYU.
Performance
TYD vs. FLYU - Performance Comparison
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Returns By Period
In the year-to-date period, TYD achieves a -8.67% return, which is significantly higher than FLYU's -17.85% return.
TYD
- 1D
- -0.78%
- 1M
- -3.38%
- 6M
- -6.39%
- YTD
- -8.67%
- 1Y
- -3.97%
- 3Y*
- -4.77%
- 5Y*
- -14.54%
- 10Y*
- -5.55%
- ALL TIME*
- 0.96%
FLYU
- 1D
- 0.11%
- 1M
- -9.91%
- 6M
- -9.30%
- YTD
- -17.85%
- 1Y
- -22.80%
- 3Y*
- -1.34%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 15.87%
TYD vs. FLYU - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
TYD Direxion Daily 7-10 Year Treasury Bull 3X | -8.67% | 11.68% | -13.89% | -2.87% | -12.41% |
FLYU MicroSectors Travel 3X Leveraged ETNs | -17.85% | -2.29% | 33.00% | 111.16% | -19.09% |
Correlation
The correlation between TYD and FLYU is 0.31, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.31 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.14 |
Correlation (All Time) Calculated using the full available price history since Jun 22, 2022 | 0.10 |
Over the past year, TYD and FLYU have become more correlated (0.31) than their long-term average of 0.10, meaning their price movements have been converging.
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Return for Risk
TYD vs. FLYU — Risk / Return Rank
TYD
FLYU
TYD vs. FLYU - 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 MicroSectors Travel 3X Leveraged ETNs (FLYU). 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 | FLYU | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.02 | ||
| Sortino ratioReturn per unit of downside risk | -0.35 | ||
| Omega ratioGain probability vs. loss probability | 0.96 | 1.00 | -0.04 |
| Calmar ratioReturn relative to maximum drawdown | -0.29 | -0.44 | +0.14 |
| Martin ratioReturn relative to average drawdown | -0.64 | -0.88 | +0.24 |
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Drawdowns
TYD vs. FLYU - Drawdown Comparison
The maximum TYD drawdown since its inception was -64.28%, smaller than the maximum FLYU drawdown of -69.00%. Use the drawdown chart below to compare losses from any high point for TYD and FLYU.
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Drawdown Indicators
| TYD | FLYU | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -64.28% | -69.00% | +4.72% |
Max Drawdown (1Y)Largest decline over 1 year | -13.54% | -52.33% | +38.79% |
Max Drawdown (3Y)Largest decline over 3 years | -22.32% | -69.00% | +46.68% |
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 | -60.31% | -34.84% | -25.47% |
Average DrawdownAverage peak-to-trough decline | -22.22% | -26.59% | +4.37% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.24% | 25.94% | -19.70% |
Volatility
TYD vs. FLYU - Volatility Comparison
The current volatility for Direxion Daily 7-10 Year Treasury Bull 3X (TYD) is 3.93%, while MicroSectors Travel 3X Leveraged ETNs (FLYU) has a volatility of 17.61%. This indicates that TYD experiences smaller price fluctuations and is considered to be less risky than FLYU based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| TYD | FLYU | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.93% | 17.61% | -13.68% |
Volatility (6M)Calculated over the trailing 6-month period | 10.30% | 61.02% | -50.72% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.80% | 74.53% | -60.73% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 22.92% | 82.89% | -59.97% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.20% | 82.89% | -62.69% |
TYD vs. FLYU - Expense Ratio Comparison
TYD has a 1.09% expense ratio, which is higher than FLYU's 0.95% expense ratio.
Dividends
TYD vs. FLYU - Dividend Comparison
TYD's dividend yield for the trailing twelve months is around 3.38%, while FLYU has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FLYU MicroSectors Travel 3X Leveraged ETNs | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
TYD Direxion Daily 7-10 Year Treasury Bull 3X | 3.38% | 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 FLYU have a correlation of 0.31, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FLYU has higher volatility (17.61%) compared to TYD (3.93%). In terms of maximum drawdown, TYD dropped -64.28% vs FLYU's -69.00%.
On 3-year performance, FLYU leads with -1.34% vs -4.77% for TYD. On fees, FLYU is cheaper at 0.95% per year. On volatility, TYD has been the lower-risk option at 3.93%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, FLYU has performed better with a -1.34% return vs -4.77%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
FLYU is cheaper with a 0.95% expense ratio, compared with 1.09% for TYD.
TYD has the higher dividend yield at 3.38%, compared with 0.00% for FLYU.
TYD is categorized as Leveraged Bonds, while FLYU is Leveraged Equities. TYD tracks NYSE 7-10 Year Treasury Bond Index, while FLYU tracks MerQube MicroSectors U.S. Travel Index. They also come from different issuers: Direxion and REX. Their fees differ too: 1.09% for TYD and 0.95% for FLYU.
TYD currently has the higher Sharpe Ratio (-0.29 vs -0.31), 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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