TYD vs. UGA
TYD (Direxion Daily 7-10 Year Treasury Bull 3X) and UGA (United States Gasoline Fund LP) are both exchange-traded funds - TYD is a Leveraged Bonds fund tracking the NYSE 7-10 Year Treasury Bond Index, while UGA is a Oil & Gas fund tracking the Front Month Unleaded Gasoline. Both are passively managed. Over the past 10 years, TYD returned -5.34%/yr vs 14.31%/yr for UGA. At a correlation of -0.17, they often move in opposite directions. TYD charges 1.09%/yr vs 0.75%/yr for UGA.
Performance
TYD vs. UGA - Performance Comparison
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Returns By Period
In the year-to-date period, TYD achieves a -7.02% return, which is significantly lower than UGA's 64.09% return. Over the past 10 years, TYD has underperformed UGA with an annualized return of -5.34%, while UGA has yielded a comparatively higher 14.31% annualized return.
TYD
- 1D
- -0.47%
- 1M
- 0.30%
- YTD
- -7.02%
- 6M
- -7.06%
- 1Y
- -2.87%
- 3Y*
- -4.91%
- 5Y*
- -13.23%
- 10Y*
- -5.34%
UGA
- 1D
- -1.12%
- 1M
- -12.11%
- YTD
- 64.09%
- 6M
- 60.42%
- 1Y
- 59.74%
- 3Y*
- 18.95%
- 5Y*
- 22.69%
- 10Y*
- 14.31%
TYD vs. UGA - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
TYD Direxion Daily 7-10 Year Treasury Bull 3X | -7.02% | 11.68% | -13.89% | -2.87% | -43.32% | -11.36% | 27.62% | 17.88% | 0.76% | 5.64% |
UGA United States Gasoline Fund LP | 64.09% | -2.00% | 3.77% | 1.27% | 46.34% | 68.49% | -24.88% | 41.25% | -28.07% | 1.69% |
Correlation
The correlation between TYD and UGA is -0.40, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.40 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.21 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.16 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.15 |
Correlation (All Time) Calculated using the full available price history since Apr 16, 2009 | -0.17 |
Over the past year, the inverse relationship between TYD and UGA has strengthened: their correlation has moved from -0.17 to -0.40, meaning they now move in opposite directions more often than their long-term average.
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Return for Risk
TYD vs. UGA — Risk / Return Rank
TYD
UGA
TYD vs. UGA - 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 United States Gasoline Fund LP (UGA). 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 | UGA | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.94 | ||
| Sortino ratioReturn per unit of downside risk | -2.45 | ||
| Omega ratioGain probability vs. loss probability | 0.98 | 1.30 | -0.32 |
| Calmar ratioReturn relative to maximum drawdown | -0.21 | 3.17 | -3.38 |
| Martin ratioReturn relative to average drawdown | -0.52 | 9.39 | -9.91 |
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Drawdowns
TYD vs. UGA - Drawdown Comparison
The maximum TYD drawdown since its inception was -64.28%, smaller than the maximum UGA drawdown of -86.59%. Use the drawdown chart below to compare losses from any high point for TYD and UGA.
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Drawdown Indicators
| TYD | UGA | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -64.28% | -86.59% | +22.31% |
Max Drawdown (1Y)Largest decline over 1 year | -13.54% | -18.96% | +5.42% |
Max Drawdown (3Y)Largest decline over 3 years | -24.62% | -26.68% | +2.06% |
Max Drawdown (5Y)Largest decline over 5 years | -59.84% | -38.11% | -21.73% |
Max Drawdown (10Y)Largest decline over 10 years | -64.28% | -75.89% | +11.61% |
Current DrawdownCurrent decline from peak | -59.59% | -18.05% | -41.54% |
Average DrawdownAverage peak-to-trough decline | -22.05% | -36.69% | +14.64% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.54% | 6.43% | -0.89% |
Volatility
TYD vs. UGA - Volatility Comparison
The current volatility for Direxion Daily 7-10 Year Treasury Bull 3X (TYD) is 4.04%, while United States Gasoline Fund LP (UGA) has a volatility of 9.24%. This indicates that TYD experiences smaller price fluctuations and is considered to be less risky than UGA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| TYD | UGA | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.04% | 9.24% | -5.20% |
Volatility (6M)Calculated over the trailing 6-month period | 9.96% | 30.57% | -20.61% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.85% | 35.22% | -21.37% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 22.98% | 34.45% | -11.47% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.33% | 37.22% | -16.89% |
TYD vs. UGA - Expense Ratio Comparison
TYD has a 1.09% expense ratio, which is higher than UGA's 0.75% expense ratio.
Dividends
TYD vs. UGA - Dividend Comparison
TYD's dividend yield for the trailing twelve months is around 3.26%, while UGA has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
TYD Direxion Daily 7-10 Year Treasury Bull 3X | 3.26% | 2.97% | 3.10% | 2.71% | 0.55% | 0.00% | 9.80% | 0.92% | 1.10% | 0.01% | 6.84% | 1.65% |
UGA United States Gasoline Fund LP | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
TYD and UGA have a correlation of -0.40, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
UGA has higher volatility (9.24%) compared to TYD (4.04%). In terms of maximum drawdown, TYD dropped -64.28% vs UGA's -86.59%.
On 10-year performance, UGA leads with 14.31% vs -5.34% for TYD. On fees, UGA is cheaper at 0.75% per year. On volatility, TYD has been the lower-risk option at 4.04%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, UGA has performed better with a 14.31% return vs -5.34%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
UGA is cheaper with a 0.75% expense ratio, compared with 1.09% for TYD.
TYD has the higher dividend yield at 3.26%, compared with 0.00% for UGA.
TYD is categorized as Leveraged Bonds, while UGA is Oil & Gas. TYD tracks NYSE 7-10 Year Treasury Bond Index, while UGA tracks Front Month Unleaded Gasoline. They also come from different issuers: Direxion and Concierge Technologies. Their fees differ too: 1.09% for TYD and 0.75% for UGA.
UGA currently has the higher Sharpe Ratio (1.73 vs -0.21), 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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