TYD vs. UPRO
TYD (Direxion Daily 7-10 Year Treasury Bull 3X) and UPRO (ProShares UltraPro S&P 500) are both exchange-traded funds - TYD is a Leveraged Bonds fund tracking the NYSE 7-10 Year Treasury Bond Index, while UPRO is a Leveraged Equities fund tracking the S&P 500. Both are passively managed. Over the past 10 years, TYD returned -5.34%/yr vs 30.18%/yr for UPRO. At a correlation of -0.20, they often move in opposite directions. TYD charges 1.09%/yr vs 0.89%/yr for UPRO.
Performance
TYD vs. UPRO - 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 UPRO's 17.21% return. Over the past 10 years, TYD has underperformed UPRO with an annualized return of -5.34%, while UPRO has yielded a comparatively higher 30.18% 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%
UPRO
- 1D
- -4.27%
- 1M
- -5.38%
- YTD
- 17.21%
- 6M
- 13.86%
- 1Y
- 62.29%
- 3Y*
- 46.23%
- 5Y*
- 20.37%
- 10Y*
- 30.18%
TYD vs. UPRO - 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% |
UPRO ProShares UltraPro S&P 500 | 17.21% | 31.88% | 63.57% | 68.53% | -56.84% | 98.64% | 10.09% | 102.30% | -25.11% | 71.37% |
Correlation
The correlation between TYD and UPRO is 0.26, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.26 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.17 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.09 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.06 |
Correlation (All Time) Calculated using the full available price history since Jun 25, 2009 | -0.20 |
The correlation between TYD and UPRO shifts across timeframes, from -0.20 (all time) to 0.26 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
TYD vs. UPRO — Risk / Return Rank
TYD
UPRO
TYD vs. UPRO - 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 UltraPro S&P 500 (UPRO). 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 | UPRO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.89 | ||
| Sortino ratioReturn per unit of downside risk | -2.36 | ||
| Omega ratioGain probability vs. loss probability | 0.98 | 1.28 | -0.31 |
| Calmar ratioReturn relative to maximum drawdown | -0.21 | 2.34 | -2.55 |
| Martin ratioReturn relative to average drawdown | -0.52 | 9.52 | -10.04 |
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Drawdowns
TYD vs. UPRO - Drawdown Comparison
The maximum TYD drawdown since its inception was -64.28%, smaller than the maximum UPRO drawdown of -76.82%. Use the drawdown chart below to compare losses from any high point for TYD and UPRO.
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Drawdown Indicators
| TYD | UPRO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -64.28% | -76.82% | +12.54% |
Max Drawdown (1Y)Largest decline over 1 year | -13.54% | -26.78% | +13.24% |
Max Drawdown (3Y)Largest decline over 3 years | -24.62% | -48.87% | +24.25% |
Max Drawdown (5Y)Largest decline over 5 years | -59.84% | -63.94% | +4.10% |
Max Drawdown (10Y)Largest decline over 10 years | -64.28% | -76.82% | +12.54% |
Current DrawdownCurrent decline from peak | -59.59% | -10.27% | -49.32% |
Average DrawdownAverage peak-to-trough decline | -22.05% | -14.39% | -7.66% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.54% | 6.57% | -1.03% |
Volatility
TYD vs. UPRO - Volatility Comparison
The current volatility for Direxion Daily 7-10 Year Treasury Bull 3X (TYD) is 4.04%, while ProShares UltraPro S&P 500 (UPRO) has a volatility of 14.68%. This indicates that TYD experiences smaller price fluctuations and is considered to be less risky than UPRO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| TYD | UPRO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.04% | 14.68% | -10.64% |
Volatility (6M)Calculated over the trailing 6-month period | 9.96% | 29.49% | -19.53% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.85% | 37.35% | -23.50% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 22.98% | 50.62% | -27.64% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.33% | 53.79% | -33.46% |
TYD vs. UPRO - Expense Ratio Comparison
TYD has a 1.09% expense ratio, which is higher than UPRO's 0.89% expense ratio.
Dividends
TYD vs. UPRO - Dividend Comparison
TYD's dividend yield for the trailing twelve months is around 3.26%, more than UPRO's 0.74% yield.
| 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% |
UPRO ProShares UltraPro S&P 500 | 0.74% | 0.84% | 0.93% | 0.74% | 0.52% | 0.06% | 0.11% | 0.41% | 0.63% | 0.00% | 0.12% | 0.34% |
Frequently Asked Questions
TYD and UPRO have a correlation of 0.26, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
UPRO has higher volatility (14.68%) compared to TYD (4.04%). In terms of maximum drawdown, TYD dropped -64.28% vs UPRO's -76.82%.
On 10-year performance, UPRO leads with 30.18% vs -5.34% for TYD. On fees, UPRO is cheaper at 0.89% 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, UPRO has performed better with a 30.18% return vs -5.34%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
UPRO is cheaper with a 0.89% expense ratio, compared with 1.09% for TYD.
TYD has the higher dividend yield at 3.26%, compared with 0.74% for UPRO.
TYD is categorized as Leveraged Bonds, while UPRO is Leveraged Equities. TYD tracks NYSE 7-10 Year Treasury Bond Index, while UPRO tracks S&P 500. They also come from different issuers: Direxion and ProShares. Their fees differ too: 1.09% for TYD and 0.89% for UPRO.
UPRO currently has the higher Sharpe Ratio (1.68 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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