TYD vs. SPUU
TYD (Direxion Daily 7-10 Year Treasury Bull 3X) and SPUU (Direxion Daily S&P 500 Bull 2X ETF) are both exchange-traded funds - TYD is a Leveraged Bonds fund tracking the NYSE 7-10 Year Treasury Bond Index, while SPUU is a Leveraged Equities fund tracking the S&P 500 Index (200% Daily). Both are passively managed. Over the past 10 years, TYD returned -5.35%/yr vs 23.84%/yr for SPUU. At a correlation of -0.09, they often move in opposite directions. TYD charges 1.09%/yr vs 0.60%/yr for SPUU.
Performance
TYD vs. SPUU - Performance Comparison
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Returns By Period
In the year-to-date period, TYD achieves a -7.44% return, which is significantly lower than SPUU's 18.22% return. Over the past 10 years, TYD has underperformed SPUU with an annualized return of -5.35%, while SPUU has yielded a comparatively higher 23.84% annualized return.
TYD
- 1D
- -0.30%
- 1M
- -2.72%
- 6M
- -7.62%
- YTD
- -7.44%
- 1Y
- -1.23%
- 3Y*
- -4.61%
- 5Y*
- -14.13%
- 10Y*
- -5.35%
SPUU
- 1D
- -1.08%
- 1M
- 0.01%
- 6M
- 14.79%
- YTD
- 18.22%
- 1Y
- 38.38%
- 3Y*
- 32.90%
- 5Y*
- 18.77%
- 10Y*
- 23.84%
TYD vs. SPUU - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
TYD Direxion Daily 7-10 Year Treasury Bull 3X | -7.44% | 11.68% | -13.89% | -2.87% | -43.32% | -11.36% | 27.62% | 17.88% | 0.76% | 5.64% |
SPUU Direxion Daily S&P 500 Bull 2X ETF | 18.22% | 26.55% | 44.25% | 47.28% | -38.72% | 61.27% | 21.85% | 66.84% | -14.59% | 44.33% |
Correlation
The correlation between TYD and SPUU is 0.21, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.21 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.16 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.09 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.05 |
Correlation (All Time) Calculated using the full available price history since Jun 6, 2014 | -0.09 |
The correlation between TYD and SPUU shifts across timeframes, from -0.09 (all time) to 0.21 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
TYD vs. SPUU — Risk / Return Rank
TYD
SPUU
TYD vs. SPUU - 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 Direxion Daily S&P 500 Bull 2X ETF (SPUU). 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 | SPUU | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.62 | ||
| Sortino ratioReturn per unit of downside risk | -2.09 | ||
| Omega ratioGain probability vs. loss probability | 1.00 | 1.27 | -0.27 |
| Calmar ratioReturn relative to maximum drawdown | -0.09 | 2.12 | -2.21 |
| Martin ratioReturn relative to average drawdown | -0.20 | 8.78 | -8.98 |
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Drawdowns
TYD vs. SPUU - Drawdown Comparison
The maximum TYD drawdown since its inception was -64.28%, which is greater than SPUU's maximum drawdown of -59.35%. Use the drawdown chart below to compare losses from any high point for TYD and SPUU.
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Drawdown Indicators
| TYD | SPUU | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -64.28% | -59.35% | -4.93% |
Max Drawdown (1Y)Largest decline over 1 year | -13.54% | -18.19% | +4.65% |
Max Drawdown (3Y)Largest decline over 3 years | -23.96% | -35.18% | +11.22% |
Max Drawdown (5Y)Largest decline over 5 years | -59.84% | -46.59% | -13.25% |
Max Drawdown (10Y)Largest decline over 10 years | -64.28% | -59.35% | -4.93% |
Current DrawdownCurrent decline from peak | -59.77% | -2.59% | -57.18% |
Average DrawdownAverage peak-to-trough decline | -22.19% | -9.45% | -12.74% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.09% | 4.38% | +1.71% |
Volatility
TYD vs. SPUU - Volatility Comparison
The current volatility for Direxion Daily 7-10 Year Treasury Bull 3X (TYD) is 4.31%, while Direxion Daily S&P 500 Bull 2X ETF (SPUU) has a volatility of 6.85%. This indicates that TYD experiences smaller price fluctuations and is considered to be less risky than SPUU based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| TYD | SPUU | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.31% | 6.85% | -2.54% |
Volatility (6M)Calculated over the trailing 6-month period | 10.33% | 20.13% | -9.80% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.79% | 25.27% | -11.48% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 22.96% | 33.69% | -10.73% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.20% | 35.75% | -15.55% |
TYD vs. SPUU - Expense Ratio Comparison
TYD has a 1.09% expense ratio, which is higher than SPUU's 0.60% expense ratio.
Dividends
TYD vs. SPUU - Dividend Comparison
TYD's dividend yield for the trailing twelve months is around 3.33%, more than SPUU's 1.33% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SPUU Direxion Daily S&P 500 Bull 2X ETF | 1.33% | 1.63% | 0.55% | 0.83% | 0.88% | 3.04% | 8.03% | 1.80% | 5.50% | 6.96% | 8.08% | 4.42% |
TYD Direxion Daily 7-10 Year Treasury Bull 3X | 3.33% | 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 SPUU have a correlation of 0.21, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SPUU has higher volatility (6.85%) compared to TYD (4.31%). In terms of maximum drawdown, TYD dropped -64.28% vs SPUU's -59.35%.
On 10-year performance, SPUU leads with 23.84% vs -5.35% for TYD. On fees, SPUU is cheaper at 0.60% per year. On volatility, TYD has been the lower-risk option at 4.31%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, SPUU has performed better with a 23.84% return vs -5.35%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SPUU is cheaper with a 0.60% expense ratio, compared with 1.09% for TYD.
TYD has the higher dividend yield at 3.33%, compared with 1.33% for SPUU.
TYD is categorized as Leveraged Bonds, while SPUU is Leveraged Equities. TYD tracks NYSE 7-10 Year Treasury Bond Index, while SPUU tracks S&P 500 Index (200% Daily). Their fees differ too: 1.09% for TYD and 0.60% for SPUU.
SPUU currently has the higher Sharpe Ratio (1.53 vs -0.09), 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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