TYD vs. PST
TYD (Direxion Daily 7-10 Year Treasury Bull 3X) and PST (ProShares UltraShort 7-10 Year Treasury) are both exchange-traded funds - TYD is a Leveraged Bonds fund tracking the NYSE 7-10 Year Treasury Bond Index, while PST is a Inverse Bonds fund tracking the ICE U.S. Treasury 7-10 Year Bond Index. Both are passively managed. Over the past 10 years, TYD returned -5.77%/yr vs 3.13%/yr for PST. Their -0.89 correlation means they have often moved in opposite directions in the past. TYD charges 1.09%/yr vs 0.95%/yr for PST.
Performance
TYD vs. PST - 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 PST's 7.74% return. Over the past 10 years, TYD has underperformed PST with an annualized return of -5.77%, while PST has yielded a comparatively higher 3.13% 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%
PST
- 1D
- 0.55%
- 1M
- 3.24%
- 6M
- 6.90%
- YTD
- 7.74%
- 1Y
- 7.92%
- 3Y*
- 4.59%
- 5Y*
- 11.11%
- 10Y*
- 3.13%
- ALL TIME*
- -4.97%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $115.25K | $150.97K | $186.50K | |
| $420.72K | $411.37K | $510.43K |
TYD vs. PST - 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% |
PST ProShares UltraShort 7-10 Year Treasury | 7.74% | -4.42% | 12.27% | 3.17% | 38.55% | 4.01% | -18.67% | -11.03% | 1.72% | -4.52% |
Correlation
The correlation between TYD and PST is -0.98, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.98 |
Correlation (3Y) Balances recent behavior with more history. | -0.97 |
Correlation (5Y) Shows whether the relationship held over a longer period. | -0.98 |
Correlation (10Y) Provides a long-term view across more market conditions. | -0.91 |
Correlation (All Time) Calculated using the full available price history since Apr 16, 2009 | -0.89 |
The correlation between TYD and PST has been stable across timeframes, ranging from -0.98 to -0.89 - a consistent structural relationship.
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Return for Risk
TYD vs. PST — Risk / Return Rank
TYD
PST
TYD vs. PST - 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 7-10 Year Treasury (PST). 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 | PST | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.00 | ||
| Sortino ratioReturn per unit of downside risk | -1.41 | ||
| Omega ratioGain probability vs. loss probability | 0.94 | 1.10 | -0.16 |
| Calmar ratioReturn relative to maximum drawdown | -0.39 | 1.17 | -1.57 |
| Martin ratioReturn relative to average drawdown | -0.84 | 2.40 | -3.24 |
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Drawdowns
TYD vs. PST - Drawdown Comparison
The maximum TYD drawdown since its inception was -64.28%, smaller than the maximum PST drawdown of -79.25%. Use the drawdown chart below to compare losses from any high point for TYD and PST.
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Drawdown Indicators
| TYD | PST | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -64.28% | -79.25% | +14.97% |
Max Drawdown (1Y)Largest decline over 1 year | -14.41% | -4.73% | -9.68% |
Max Drawdown (3Y)Largest decline over 3 years | -22.32% | -16.19% | -6.13% |
Max Drawdown (5Y)Largest decline over 5 years | -59.80% | -16.19% | -43.61% |
Max Drawdown (10Y)Largest decline over 10 years | -64.28% | -36.07% | -28.21% |
Current DrawdownCurrent decline from peak | -60.90% | -63.04% | +2.14% |
Average DrawdownAverage peak-to-trough decline | -22.29% | -61.49% | +39.20% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.69% | 2.73% | +3.96% |
Volatility
TYD vs. PST - Volatility Comparison
Direxion Daily 7-10 Year Treasury Bull 3X (TYD) has a higher volatility of 3.45% compared to ProShares UltraShort 7-10 Year Treasury (PST) at 2.53%. This indicates that TYD's price experiences larger fluctuations and is considered to be riskier than PST based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| TYD | PST | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.45% | 2.53% | +0.92% |
Volatility (6M)Calculated over the trailing 6-month period | 10.38% | 7.32% | +3.06% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.68% | 9.39% | +4.29% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 22.92% | 15.56% | +7.36% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.18% | 13.29% | +6.89% |
TYD vs. PST - Expense Ratio Comparison
TYD has a 1.09% expense ratio, which is higher than PST's 0.95% expense ratio.
Dividends
TYD vs. PST - Dividend Comparison
TYD's dividend yield for the trailing twelve months is around 3.43%, more than PST's 2.78% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PST ProShares UltraShort 7-10 Year Treasury | 2.78% | 3.47% | 3.61% | 3.69% | 0.02% | 0.00% | 0.11% | 1.85% | 0.66% | 0.00% | 0.00% | 0.00% |
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 PST have a correlation of -0.98, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
TYD has higher volatility (3.45%) compared to PST (2.53%). In terms of maximum drawdown, TYD dropped -64.28% vs PST's -79.25%.
On 10-year performance, PST leads with 3.13% vs -5.77% for TYD. On fees, PST is cheaper at 0.95% per year. On volatility, PST has been the lower-risk option at 2.53%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, PST has performed better with a 3.13% return vs -5.77%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
PST is cheaper with a 0.95% expense ratio, compared with 1.09% for TYD.
TYD has the higher dividend yield at 3.43%, compared with 2.78% for PST.
TYD is categorized as Leveraged Bonds, while PST is Inverse Bonds. TYD tracks NYSE 7-10 Year Treasury Bond Index, while PST tracks ICE U.S. Treasury 7-10 Year Bond Index. They also come from different issuers: Direxion and ProShares. Their fees differ too: 1.09% for TYD and 0.95% for PST.
PST currently has the higher Sharpe Ratio (0.59 vs -0.41), 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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