TYD vs. UUP
TYD (Direxion Daily 7-10 Year Treasury Bull 3X) and UUP (Invesco DB US Dollar Index Bullish Fund) are both exchange-traded funds - TYD is a Leveraged Bonds fund tracking the NYSE 7-10 Year Treasury Bond Index, while UUP is a Currency fund tracking the Deutsche Bank Long US Dollar Index (USDX) Futures Index. Both are passively managed. Over the past 10 years, TYD returned -5.51%/yr vs 3.17%/yr for UUP. At a correlation of -0.12, they often move in opposite directions. TYD charges 1.09%/yr vs 0.75%/yr for UUP.
Performance
TYD vs. UUP - Performance Comparison
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Returns By Period
In the year-to-date period, TYD achieves a -8.30% return, which is significantly lower than UUP's 5.44% return. Over the past 10 years, TYD has underperformed UUP with an annualized return of -5.51%, while UUP has yielded a comparatively higher 3.17% annualized return.
TYD
- 1D
- -0.90%
- 1M
- -2.66%
- 6M
- -8.14%
- YTD
- -8.30%
- 1Y
- -2.67%
- 3Y*
- -4.77%
- 5Y*
- -14.07%
- 10Y*
- -5.51%
UUP
- 1D
- 0.39%
- 1M
- 1.97%
- 6M
- 4.47%
- YTD
- 5.44%
- 1Y
- 8.28%
- 3Y*
- 5.86%
- 5Y*
- 5.89%
- 10Y*
- 3.17%
TYD vs. UUP - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
TYD Direxion Daily 7-10 Year Treasury Bull 3X | -8.30% | 11.68% | -13.89% | -2.87% | -43.32% | -11.36% | 27.62% | 17.88% | 0.76% | 5.64% |
UUP Invesco DB US Dollar Index Bullish Fund | 5.44% | -4.99% | 13.50% | 3.63% | 9.46% | 5.73% | -6.66% | 4.09% | 7.05% | -9.10% |
Correlation
The correlation between TYD and UUP is -0.44, 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 | -0.44 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.40 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.34 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.25 |
Correlation (All Time) Calculated using the full available price history since Apr 16, 2009 | -0.12 |
Over the past year, the inverse relationship between TYD and UUP has strengthened: their correlation has moved from -0.12 to -0.44, meaning they now move in opposite directions more often than their long-term average.
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Return for Risk
TYD vs. UUP — Risk / Return Rank
TYD
UUP
TYD vs. UUP - 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 Invesco DB US Dollar Index Bullish Fund (UUP). 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 | UUP | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.58 | ||
| Sortino ratioReturn per unit of downside risk | -2.17 | ||
| Omega ratioGain probability vs. loss probability | 0.98 | 1.25 | -0.27 |
| Calmar ratioReturn relative to maximum drawdown | -0.20 | 2.28 | -2.48 |
| Martin ratioReturn relative to average drawdown | -0.45 | 6.26 | -6.71 |
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Drawdowns
TYD vs. UUP - Drawdown Comparison
The maximum TYD drawdown since its inception was -64.28%, which is greater than UUP's maximum drawdown of -22.19%. Use the drawdown chart below to compare losses from any high point for TYD and UUP.
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Drawdown Indicators
| TYD | UUP | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -64.28% | -22.19% | -42.09% |
Max Drawdown (1Y)Largest decline over 1 year | -13.54% | -3.65% | -9.89% |
Max Drawdown (3Y)Largest decline over 3 years | -23.96% | -10.05% | -13.91% |
Max Drawdown (5Y)Largest decline over 5 years | -59.84% | -10.37% | -49.47% |
Max Drawdown (10Y)Largest decline over 10 years | -64.28% | -14.24% | -50.04% |
Current DrawdownCurrent decline from peak | -60.15% | -1.26% | -58.89% |
Average DrawdownAverage peak-to-trough decline | -22.16% | -8.88% | -13.28% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.95% | 1.33% | +4.62% |
Volatility
TYD vs. UUP - Volatility Comparison
Direxion Daily 7-10 Year Treasury Bull 3X (TYD) has a higher volatility of 4.65% compared to Invesco DB US Dollar Index Bullish Fund (UUP) at 1.45%. This indicates that TYD's price experiences larger fluctuations and is considered to be riskier than UUP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| TYD | UUP | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.65% | 1.45% | +3.20% |
Volatility (6M)Calculated over the trailing 6-month period | 10.29% | 4.34% | +5.95% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.84% | 6.03% | +7.81% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 22.98% | 7.22% | +15.76% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.20% | 6.90% | +13.30% |
TYD vs. UUP - Expense Ratio Comparison
TYD has a 1.09% expense ratio, which is higher than UUP's 0.75% expense ratio.
Dividends
TYD vs. UUP - Dividend Comparison
TYD's dividend yield for the trailing twelve months is around 3.36%, more than UUP's 3.25% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
TYD Direxion Daily 7-10 Year Treasury Bull 3X | 3.36% | 2.97% | 3.10% | 2.71% | 0.55% | 0.00% | 9.80% | 0.92% | 1.10% | 0.01% | 6.84% | 1.65% |
UUP Invesco DB US Dollar Index Bullish Fund | 3.25% | 3.43% | 4.48% | 6.44% | 0.89% | 0.00% | 0.00% | 2.03% | 1.08% | 0.10% | 0.00% | 0.00% |
Frequently Asked Questions
TYD and UUP have a correlation of -0.44, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
TYD has higher volatility (4.65%) compared to UUP (1.45%). In terms of maximum drawdown, TYD dropped -64.28% vs UUP's -22.19%.
On 10-year performance, UUP leads with 3.17% vs -5.51% for TYD. On fees, UUP is cheaper at 0.75% per year. On volatility, UUP has been the lower-risk option at 1.45%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, UUP has performed better with a 3.17% return vs -5.51%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
UUP is cheaper with a 0.75% expense ratio, compared with 1.09% for TYD.
TYD has the higher dividend yield at 3.36%, compared with 3.25% for UUP.
TYD is categorized as Leveraged Bonds, while UUP is Currency. TYD tracks NYSE 7-10 Year Treasury Bond Index, while UUP tracks Deutsche Bank Long US Dollar Index (USDX) Futures Index. They also come from different issuers: Direxion and Invesco. Their fees differ too: 1.09% for TYD and 0.75% for UUP.
UUP currently has the higher Sharpe Ratio (1.38 vs -0.19), 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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