TYD vs. USO
TYD (Direxion Daily 7-10 Year Treasury Bull 3X) and USO (United States Oil Fund LP) are both exchange-traded funds - TYD is a Leveraged Bonds fund tracking the NYSE 7-10 Year Treasury Bond Index, while USO is a Oil & Gas fund tracking the Front Month Light Sweet Crude Oil. Both are passively managed. Over the past 10 years, TYD returned -5.77%/yr vs 5.64%/yr for USO. Their -0.21 correlation means they have often moved in opposite directions in the past. TYD charges 1.09%/yr vs 0.86%/yr for USO.
Performance
TYD vs. USO - 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 USO's 86.77% return. Over the past 10 years, TYD has underperformed USO with an annualized return of -5.77%, while USO has yielded a comparatively higher 5.64% 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%
USO
- 1D
- 1.33%
- 1M
- 24.23%
- 6M
- 62.44%
- YTD
- 86.77%
- 1Y
- 66.76%
- 3Y*
- 20.97%
- 5Y*
- 20.59%
- 10Y*
- 5.64%
- ALL TIME*
- -6.85%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $420.72K | $411.37K | $510.43K | |
| $968.42M | $871.56M | $931.57M |
TYD vs. USO - 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% |
USO United States Oil Fund LP | 86.77% | -8.46% | 13.35% | -4.94% | 28.97% | 64.68% | -67.79% | 32.61% | -19.57% | 2.47% |
Correlation
The correlation between TYD and USO is -0.42, 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. | -0.42 |
Correlation (3Y) Balances recent behavior with more history. | -0.25 |
Correlation (5Y) Shows whether the relationship held over a longer period. | -0.18 |
Correlation (10Y) Provides a long-term view across more market conditions. | -0.18 |
Correlation (All Time) Calculated using the full available price history since Apr 16, 2009 | -0.21 |
Over the past year, the inverse relationship between TYD and USO has strengthened: their correlation has moved from -0.21 to -0.42, meaning they now move in opposite directions more often than their long-term average.
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Return for Risk
TYD vs. USO — Risk / Return Rank
TYD
USO
TYD vs. USO - 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 Oil Fund LP (USO). 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 | USO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.75 | ||
| Sortino ratioReturn per unit of downside risk | -2.49 | ||
| Omega ratioGain probability vs. loss probability | 0.94 | 1.25 | -0.30 |
| Calmar ratioReturn relative to maximum drawdown | -0.39 | 1.93 | -2.32 |
| Martin ratioReturn relative to average drawdown | -0.84 | 5.60 | -6.44 |
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Drawdowns
TYD vs. USO - Drawdown Comparison
The maximum TYD drawdown since its inception was -64.28%, smaller than the maximum USO drawdown of -98.19%. Use the drawdown chart below to compare losses from any high point for TYD and USO.
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Drawdown Indicators
| TYD | USO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -64.28% | -98.19% | +33.91% |
Max Drawdown (1Y)Largest decline over 1 year | -14.41% | -32.49% | +18.08% |
Max Drawdown (3Y)Largest decline over 3 years | -22.32% | -32.49% | +10.17% |
Max Drawdown (5Y)Largest decline over 5 years | -59.80% | -36.23% | -23.57% |
Max Drawdown (10Y)Largest decline over 10 years | -64.28% | -86.75% | +22.47% |
Current DrawdownCurrent decline from peak | -60.90% | -86.26% | +25.36% |
Average DrawdownAverage peak-to-trough decline | -22.29% | -75.38% | +53.09% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.69% | 12.03% | -5.34% |
Volatility
TYD vs. USO - Volatility Comparison
The current volatility for Direxion Daily 7-10 Year Treasury Bull 3X (TYD) is 3.45%, while United States Oil Fund LP (USO) has a volatility of 17.73%. This indicates that TYD experiences smaller price fluctuations and is considered to be less risky than USO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| TYD | USO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.45% | 17.73% | -14.28% |
Volatility (6M)Calculated over the trailing 6-month period | 10.38% | 42.79% | -32.41% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.68% | 46.91% | -33.23% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 22.92% | 37.06% | -14.14% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.18% | 39.29% | -19.11% |
TYD vs. USO - Expense Ratio Comparison
TYD has a 1.09% expense ratio, which is higher than USO's 0.86% expense ratio.
Dividends
TYD vs. USO - Dividend Comparison
TYD's dividend yield for the trailing twelve months is around 3.43%, while USO 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% |
USO United States Oil 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 USO have a correlation of -0.42, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
USO has higher volatility (17.73%) compared to TYD (3.45%). In terms of maximum drawdown, TYD dropped -64.28% vs USO's -98.19%.
On 10-year performance, USO leads with 5.64% vs -5.77% for TYD. On fees, USO is cheaper at 0.86% 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, USO has performed better with a 5.64% return vs -5.77%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
USO is cheaper with a 0.86% expense ratio, compared with 1.09% for TYD.
TYD has the higher dividend yield at 3.43%, compared with 0.00% for USO.
TYD is categorized as Leveraged Bonds, while USO is Oil & Gas. TYD tracks NYSE 7-10 Year Treasury Bond Index, while USO tracks Front Month Light Sweet Crude Oil. They also come from different issuers: Direxion and USCF. Their fees differ too: 1.09% for TYD and 0.86% for USO.
USO currently has the higher Sharpe Ratio (1.34 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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