TYD vs. UJB
TYD (Direxion Daily 7-10 Year Treasury Bull 3X) and UJB (ProShares Ultra High Yield) are both Leveraged Bonds funds - TYD tracks the NYSE 7-10 Year Treasury Bond Index while UJB tracks the Markit iBoxx $ Liquid High Yield Index. Both are passively managed. Over the past 10 years, TYD returned -5.30%/yr vs 5.52%/yr for UJB. At a 0.10 correlation, their price movements are largely independent. TYD charges 1.09%/yr vs 0.95%/yr for UJB.
Performance
TYD vs. UJB - Performance Comparison
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Returns By Period
In the year-to-date period, TYD achieves a -6.59% return, which is significantly lower than UJB's 1.19% return. Over the past 10 years, TYD has underperformed UJB with an annualized return of -5.30%, while UJB has yielded a comparatively higher 5.52% annualized return.
TYD
- 1D
- -1.17%
- 1M
- 0.77%
- YTD
- -6.59%
- 6M
- -6.82%
- 1Y
- -1.55%
- 3Y*
- -4.77%
- 5Y*
- -13.14%
- 10Y*
- -5.30%
UJB
- 1D
- -0.11%
- 1M
- 0.73%
- YTD
- 1.19%
- 6M
- 1.66%
- 1Y
- 7.89%
- 3Y*
- 12.22%
- 5Y*
- 2.91%
- 10Y*
- 5.52%
TYD vs. UJB - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
TYD Direxion Daily 7-10 Year Treasury Bull 3X | -6.59% | 11.68% | -13.89% | -2.87% | -43.32% | -11.36% | 27.62% | 17.88% | 0.76% | 5.64% |
UJB ProShares Ultra High Yield | 1.19% | 12.22% | 9.41% | 17.70% | -23.27% | 6.96% | 5.19% | 26.68% | -6.08% | 11.77% |
Correlation
The correlation between TYD and UJB is 0.54, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.54 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.56 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.44 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.20 |
Correlation (All Time) Calculated using the full available price history since Apr 14, 2011 | 0.10 |
Over the past year, TYD and UJB have become more correlated (0.54) than their long-term average of 0.10, meaning their price movements have been converging.
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Return for Risk
TYD vs. UJB — Risk / Return Rank
TYD
UJB
TYD vs. UJB - 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 Ultra High Yield (UJB). 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 | UJB | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.19 | ||
| Sortino ratioReturn per unit of downside risk | -1.68 | ||
| Omega ratioGain probability vs. loss probability | 0.99 | 1.20 | -0.21 |
| Calmar ratioReturn relative to maximum drawdown | -0.12 | 1.58 | -1.70 |
| Martin ratioReturn relative to average drawdown | -0.28 | 6.65 | -6.94 |
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Drawdowns
TYD vs. UJB - Drawdown Comparison
The maximum TYD drawdown since its inception was -64.28%, which is greater than UJB's maximum drawdown of -40.14%. Use the drawdown chart below to compare losses from any high point for TYD and UJB.
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Drawdown Indicators
| TYD | UJB | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -64.28% | -40.14% | -24.14% |
Max Drawdown (1Y)Largest decline over 1 year | -13.54% | -5.01% | -8.53% |
Max Drawdown (3Y)Largest decline over 3 years | -24.62% | -9.47% | -15.15% |
Max Drawdown (5Y)Largest decline over 5 years | -59.84% | -30.14% | -29.70% |
Max Drawdown (10Y)Largest decline over 10 years | -64.28% | -40.14% | -24.14% |
Current DrawdownCurrent decline from peak | -59.40% | -0.47% | -58.93% |
Average DrawdownAverage peak-to-trough decline | -22.04% | -6.15% | -15.89% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.49% | 1.19% | +4.30% |
Volatility
TYD vs. UJB - Volatility Comparison
Direxion Daily 7-10 Year Treasury Bull 3X (TYD) has a higher volatility of 4.01% compared to ProShares Ultra High Yield (UJB) at 1.95%. This indicates that TYD's price experiences larger fluctuations and is considered to be riskier than UJB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| TYD | UJB | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.01% | 1.95% | +2.06% |
Volatility (6M)Calculated over the trailing 6-month period | 9.98% | 5.92% | +4.06% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.87% | 7.38% | +6.49% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 22.98% | 14.69% | +8.29% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.36% | 18.02% | +2.34% |
TYD vs. UJB - Expense Ratio Comparison
TYD has a 1.09% expense ratio, which is higher than UJB's 0.95% expense ratio.
Dividends
TYD vs. UJB - Dividend Comparison
TYD's dividend yield for the trailing twelve months is around 3.24%, less than UJB's 3.34% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
TYD Direxion Daily 7-10 Year Treasury Bull 3X | 3.24% | 2.97% | 3.10% | 2.71% | 0.55% | 0.00% | 9.80% | 0.92% | 1.10% | 0.01% | 6.84% | 1.65% |
UJB ProShares Ultra High Yield | 3.34% | 2.61% | 3.02% | 3.92% | 0.05% | 0.63% | 2.88% | 3.95% | 3.22% | 2.67% | 2.35% | 3.62% |
Frequently Asked Questions
TYD and UJB have a correlation of 0.54, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
TYD has higher volatility (4.01%) compared to UJB (1.95%). In terms of maximum drawdown, TYD dropped -64.28% vs UJB's -40.14%.
On 10-year performance, UJB leads with 5.52% vs -5.30% for TYD. On fees, UJB is cheaper at 0.95% per year. On volatility, UJB has been the lower-risk option at 1.95%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, UJB has performed better with a 5.52% return vs -5.30%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
UJB is cheaper with a 0.95% expense ratio, compared with 1.09% for TYD.
UJB has the higher dividend yield at 3.34%, compared with 3.24% for TYD.
TYD tracks NYSE 7-10 Year Treasury Bond Index, while UJB tracks Markit iBoxx $ Liquid High Yield Index. They also come from different issuers: Direxion and ProShares. Their fees differ too: 1.09% for TYD and 0.95% for UJB.
UJB currently has the higher Sharpe Ratio (1.08 vs -0.11), 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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