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 Near-Month NYMEX RBOB Gasoline Futures Contract. Both are passively managed. Over the past 10 years, TYD returned -5.77%/yr vs 18.03%/yr for UGA. Their -0.17 correlation means they have often moved in opposite directions in the past. TYD charges 1.09%/yr vs 1.02%/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 -10.03% return, which is significantly lower than UGA's 91.06% return. Over the past 10 years, TYD has underperformed UGA with an annualized return of -5.77%, while UGA has yielded a comparatively higher 18.03% 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%
UGA
- 1D
- -0.01%
- 1M
- 14.56%
- 6M
- 70.02%
- YTD
- 91.06%
- 1Y
- 88.12%
- 3Y*
- 17.55%
- 5Y*
- 25.78%
- 10Y*
- 18.03%
- ALL TIME*
- 4.82%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $420.72K | $411.37K | $510.43K | |
| $6.47M | $5.01M | $4.85M |
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 | -10.03% | 11.68% | -13.89% | -2.87% | -43.32% | -11.36% | 27.62% | 17.88% | 0.76% | 5.64% |
UGA United States Gasoline Fund, LP | 91.06% | -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 -0.41, 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. | -0.41 |
Correlation (3Y) Balances recent behavior with more history. | -0.24 |
Correlation (5Y) Shows whether the relationship held over a longer period. | -0.16 |
Correlation (10Y) Provides a long-term view across more market conditions. | -0.16 |
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 -0.41, 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 | -2.73 | ||
| Sortino ratioReturn per unit of downside risk | -3.32 | ||
| Omega ratioGain probability vs. loss probability | 0.94 | 1.37 | -0.42 |
| Calmar ratioReturn relative to maximum drawdown | -0.39 | 4.12 | -4.51 |
| Martin ratioReturn relative to average drawdown | -0.84 | 11.57 | -12.41 |
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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 | -14.41% | -20.32% | +5.91% |
Max Drawdown (3Y)Largest decline over 3 years | -22.32% | -26.68% | +4.36% |
Max Drawdown (5Y)Largest decline over 5 years | -59.80% | -38.11% | -21.69% |
Max Drawdown (10Y)Largest decline over 10 years | -64.28% | -75.89% | +11.61% |
Current DrawdownCurrent decline from peak | -60.90% | -5.63% | -55.27% |
Average DrawdownAverage peak-to-trough decline | -22.29% | -36.53% | +14.24% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.69% | 7.26% | -0.57% |
Volatility
TYD vs. UGA - Volatility Comparison
The current volatility for Direxion Daily 7-10 Year Treasury Bull 3X (TYD) is 3.45%, while United States Gasoline Fund, LP (UGA) has a volatility of 11.28%. 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 | 3.45% | 11.28% | -7.83% |
Volatility (6M)Calculated over the trailing 6-month period | 10.38% | 31.98% | -21.60% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.68% | 36.11% | -22.43% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 22.92% | 34.60% | -11.68% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.18% | 37.26% | -17.08% |
TYD vs. UGA - Expense Ratio Comparison
TYD has a 1.09% expense ratio, which is higher than UGA's 1.02% expense ratio.
Dividends
TYD vs. UGA - Dividend Comparison
TYD's dividend yield for the trailing twelve months is around 3.43%, 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 | 3.43% | 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 -0.41, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
UGA has higher volatility (11.28%) compared to TYD (3.45%). In terms of maximum drawdown, TYD dropped -64.28% vs UGA's -86.59%.
On 10-year performance, UGA leads with 18.03% vs -5.77% for TYD. On fees, UGA is cheaper at 1.02% 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, UGA has performed better with a 18.03% return vs -5.77%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
UGA is cheaper with a 1.02% expense ratio, compared with 1.09% for TYD.
TYD has the higher dividend yield at 3.43%, 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 Near-Month NYMEX RBOB Gasoline Futures Contract. They also come from different issuers: Direxion and USCF. Their fees differ too: 1.09% for TYD and 1.02% for UGA.
UGA currently has the higher Sharpe Ratio (2.32 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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