TYD vs. QYLD
TYD (Direxion Daily 7-10 Year Treasury Bull 3X) and QYLD (Global X NASDAQ 100 Covered Call ETF) are both exchange-traded funds - TYD is a Leveraged Bonds fund tracking the NYSE 7-10 Year Treasury Bond Index, while QYLD is a Nasdaq-100 fund tracking the CBOE NASDAQ-100 Buy Write V2. Both are passively managed. Over the past 10 years, TYD returned -5.77%/yr vs 9.59%/yr for QYLD. Their -0.09 correlation means they have often moved in opposite directions in the past. TYD charges 1.09%/yr vs 0.60%/yr for QYLD.
Performance
TYD vs. QYLD - 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 QYLD's 7.67% return. Over the past 10 years, TYD has underperformed QYLD with an annualized return of -5.77%, while QYLD has yielded a comparatively higher 9.59% 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%
QYLD
- 1D
- 0.65%
- 1M
- -0.98%
- 6M
- 5.88%
- YTD
- 7.67%
- 1Y
- 20.66%
- 3Y*
- 12.32%
- 5Y*
- 7.83%
- 10Y*
- 9.59%
- ALL TIME*
- 8.57%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $83.30M | $78.68M | $98.28M | |
| $420.72K | $411.37K | $510.43K |
TYD vs. QYLD - 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% |
QYLD Global X NASDAQ 100 Covered Call ETF | 7.67% | 9.28% | 19.35% | 22.77% | -19.08% | 10.41% | 8.72% | 22.69% | -3.07% | 18.79% |
Correlation
The correlation between TYD and QYLD is 0.16, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.16 |
Correlation (3Y) Balances recent behavior with more history. | 0.09 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.05 |
Correlation (10Y) Provides a long-term view across more market conditions. | -0.04 |
Correlation (All Time) Calculated using the full available price history since Dec 12, 2013 | -0.09 |
The correlation between TYD and QYLD shifts across timeframes, from -0.09 (all time) to 0.16 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
TYD vs. QYLD — Risk / Return Rank
TYD
QYLD
TYD vs. QYLD - 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 Global X NASDAQ 100 Covered Call ETF (QYLD). 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 | QYLD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.15 | ||
| Sortino ratioReturn per unit of downside risk | -2.98 | ||
| Omega ratioGain probability vs. loss probability | 0.94 | 1.35 | -0.41 |
| Calmar ratioReturn relative to maximum drawdown | -0.39 | 3.38 | -3.77 |
| Martin ratioReturn relative to average drawdown | -0.84 | 15.70 | -16.55 |
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Drawdowns
TYD vs. QYLD - Drawdown Comparison
The maximum TYD drawdown since its inception was -64.28%, which is greater than QYLD's maximum drawdown of -24.75%. Use the drawdown chart below to compare losses from any high point for TYD and QYLD.
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Drawdown Indicators
| TYD | QYLD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -64.28% | -24.75% | -39.53% |
Max Drawdown (1Y)Largest decline over 1 year | -14.41% | -5.78% | -8.63% |
Max Drawdown (3Y)Largest decline over 3 years | -22.32% | -19.06% | -3.26% |
Max Drawdown (5Y)Largest decline over 5 years | -59.80% | -24.61% | -35.19% |
Max Drawdown (10Y)Largest decline over 10 years | -64.28% | -24.75% | -39.53% |
Current DrawdownCurrent decline from peak | -60.90% | -2.96% | -57.94% |
Average DrawdownAverage peak-to-trough decline | -22.29% | -3.81% | -18.48% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.69% | 1.24% | +5.45% |
Volatility
TYD vs. QYLD - Volatility Comparison
The current volatility for Direxion Daily 7-10 Year Treasury Bull 3X (TYD) is 3.45%, while Global X NASDAQ 100 Covered Call ETF (QYLD) has a volatility of 5.19%. This indicates that TYD experiences smaller price fluctuations and is considered to be less risky than QYLD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| TYD | QYLD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.45% | 5.19% | -1.74% |
Volatility (6M)Calculated over the trailing 6-month period | 10.38% | 10.04% | +0.34% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.68% | 11.26% | +2.42% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 22.92% | 15.04% | +7.88% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.18% | 15.63% | +4.55% |
TYD vs. QYLD - Expense Ratio Comparison
TYD has a 1.09% expense ratio, which is higher than QYLD's 0.60% expense ratio.
Dividends
TYD vs. QYLD - Dividend Comparison
TYD's dividend yield for the trailing twelve months is around 3.43%, less than QYLD's 11.89% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
QYLD Global X NASDAQ 100 Covered Call ETF | 11.89% | 11.55% | 12.50% | 11.78% | 13.75% | 12.85% | 11.16% | 9.84% | 12.44% | 7.69% | 9.15% | 9.42% |
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 QYLD have a correlation of 0.16, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
QYLD has higher volatility (5.19%) compared to TYD (3.45%). In terms of maximum drawdown, TYD dropped -64.28% vs QYLD's -24.75%.
On 10-year performance, QYLD leads with 9.59% vs -5.77% for TYD. On fees, QYLD is cheaper at 0.60% 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, QYLD has performed better with a 9.59% return vs -5.77%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
QYLD is cheaper with a 0.60% expense ratio, compared with 1.09% for TYD.
QYLD has the higher dividend yield at 11.89%, compared with 3.43% for TYD.
TYD is categorized as Leveraged Bonds, while QYLD is Nasdaq-100. TYD tracks NYSE 7-10 Year Treasury Bond Index, while QYLD tracks CBOE NASDAQ-100 Buy Write V2. They also come from different issuers: Direxion and Global X. Their fees differ too: 1.09% for TYD and 0.60% for QYLD.
QYLD currently has the higher Sharpe Ratio (1.73 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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