TYD vs. PEX
TYD (Direxion Daily 7-10 Year Treasury Bull 3X) and PEX (ProShares Global Listed Private Equity ETF) are both exchange-traded funds - TYD is a Leveraged Bonds fund tracking the NYSE 7-10 Year Treasury Bond Index, while PEX is a Financials Equities fund tracking the LPX Direct Listed Private Equity Index. Both are passively managed. Over the past 10 years, TYD returned -5.77%/yr vs 4.91%/yr for PEX. Their -0.03 correlation means they have often moved in opposite directions in the past. TYD charges 1.09%/yr vs 3.13%/yr for PEX.
Performance
TYD vs. PEX - Performance Comparison
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Returns By Period
In the year-to-date period, TYD achieves a -10.03% return, which is significantly lower than PEX's -6.82% return. Over the past 10 years, TYD has underperformed PEX with an annualized return of -5.77%, while PEX has yielded a comparatively higher 4.91% annualized return.
TYD
- 1D
- -1.01%
- 1M
- -4.64%
- 6M
- -8.59%
- YTD
- -10.03%
- 1Y
- -8.85%
- 3Y*
- -3.83%
- 5Y*
- -14.92%
- 10Y*
- -5.77%
- ALL TIME*
- 0.87%
PEX
- 1D
- 0.15%
- 1M
- 3.38%
- 6M
- -7.02%
- YTD
- -6.82%
- 1Y
- -10.44%
- 3Y*
- 4.37%
- 5Y*
- -0.25%
- 10Y*
- 4.91%
- ALL TIME*
- 5.23%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $46.71K | $56.13K | $56.35K | |
| $420.72K | $411.37K | $510.43K |
TYD vs. PEX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
TYD Direxion Daily 7-10 Year Treasury Bull 3X | -10.03% | 11.68% | -13.89% | -2.87% | -43.32% | -11.36% | 27.62% | 17.88% | 0.76% | 5.64% |
PEX ProShares Global Listed Private Equity ETF | -6.82% | 0.21% | 13.05% | 23.11% | -25.98% | 28.34% | -1.14% | 25.53% | -13.31% | 14.33% |
Correlation
The correlation between TYD and PEX is 0.31, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.31 |
Correlation (3Y) Balances recent behavior with more history. | 0.22 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.14 |
Correlation (10Y) Provides a long-term view across more market conditions. | -0.01 |
Correlation (All Time) Calculated using the full available price history since Feb 28, 2013 | -0.03 |
The correlation between TYD and PEX shifts across timeframes, from -0.03 (all time) to 0.31 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
TYD vs. PEX — Risk / Return Rank
TYD
PEX
TYD vs. PEX - 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 Global Listed Private Equity ETF (PEX). 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 | PEX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.29 | ||
| Sortino ratioReturn per unit of downside risk | +0.40 | ||
| Omega ratioGain probability vs. loss probability | 0.94 | 0.90 | +0.05 |
| Calmar ratioReturn relative to maximum drawdown | -0.39 | -0.53 | +0.14 |
| Martin ratioReturn relative to average drawdown | -0.84 | -1.04 | +0.20 |
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Drawdowns
TYD vs. PEX - Drawdown Comparison
The maximum TYD drawdown since its inception was -64.28%, which is greater than PEX's maximum drawdown of -49.17%. Use the drawdown chart below to compare losses from any high point for TYD and PEX.
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Drawdown Indicators
| TYD | PEX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -64.28% | -49.17% | -15.11% |
Max Drawdown (1Y)Largest decline over 1 year | -14.41% | -21.09% | +6.68% |
Max Drawdown (3Y)Largest decline over 3 years | -22.32% | -24.72% | +2.40% |
Max Drawdown (5Y)Largest decline over 5 years | -59.80% | -36.58% | -23.22% |
Max Drawdown (10Y)Largest decline over 10 years | -64.28% | -49.17% | -15.11% |
Current DrawdownCurrent decline from peak | -60.90% | -15.79% | -45.11% |
Average DrawdownAverage peak-to-trough decline | -22.29% | -8.34% | -13.95% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.69% | 10.79% | -4.10% |
Volatility
TYD vs. PEX - Volatility Comparison
The current volatility for Direxion Daily 7-10 Year Treasury Bull 3X (TYD) is 3.45%, while ProShares Global Listed Private Equity ETF (PEX) has a volatility of 3.74%. This indicates that TYD experiences smaller price fluctuations and is considered to be less risky than PEX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| TYD | PEX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.45% | 3.74% | -0.29% |
Volatility (6M)Calculated over the trailing 6-month period | 10.38% | 13.32% | -2.94% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.68% | 15.89% | -2.21% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 22.92% | 17.99% | +4.93% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.18% | 19.26% | +0.92% |
TYD vs. PEX - Expense Ratio Comparison
TYD has a 1.09% expense ratio, which is lower than PEX's 3.13% expense ratio.
Dividends
TYD vs. PEX - Dividend Comparison
TYD's dividend yield for the trailing twelve months is around 3.43%, less than PEX's 8.52% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PEX ProShares Global Listed Private Equity ETF | 8.52% | 12.80% | 14.11% | 13.02% | 1.77% | 13.64% | 5.52% | 7.94% | 4.72% | 24.26% | 3.24% | 12.50% |
TYD Direxion Daily 7-10 Year Treasury Bull 3X | 3.43% | 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 PEX 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.
PEX has higher volatility (3.74%) compared to TYD (3.45%). In terms of maximum drawdown, TYD dropped -64.28% vs PEX's -49.17%.
On 10-year performance, PEX leads with 4.91% vs -5.77% for TYD. On fees, TYD is cheaper at 1.09% per year. On volatility, TYD has been the lower-risk option at 3.45%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, PEX has performed better with a 4.91% return vs -5.77%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
TYD is cheaper with a 1.09% expense ratio, compared with 3.13% for PEX.
PEX has the higher dividend yield at 8.52%, compared with 3.43% for TYD.
TYD is categorized as Leveraged Bonds, while PEX is Financials Equities. TYD tracks NYSE 7-10 Year Treasury Bond Index, while PEX tracks LPX Direct Listed Private Equity Index. They also come from different issuers: Direxion and ProShares. Their fees differ too: 1.09% for TYD and 3.13% for PEX.
TYD currently has the higher Sharpe Ratio (-0.41 vs -0.71), 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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