TYD vs. UVXY
TYD (Direxion Daily 7-10 Year Treasury Bull 3X) and UVXY (ProShares Ultra VIX Short-Term Futures ETF) are both exchange-traded funds - TYD is a Leveraged Bonds fund tracking the NYSE 7-10 Year Treasury Bond Index, while UVXY is a Volatility fund tracking the S&P 500 VIX SHORT-TERM FUTURES TR (150%). Both are passively managed. Over the past 10 years, TYD returned -5.10%/yr vs -73.88%/yr for UVXY. At a 0.16 correlation, their price movements are largely independent. TYD charges 1.09%/yr vs 0.95%/yr for UVXY.
Performance
TYD vs. UVXY - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, TYD achieves a -4.64% return, which is significantly higher than UVXY's -23.04% return. Over the past 10 years, TYD has outperformed UVXY with an annualized return of -5.10%, while UVXY has yielded a comparatively lower -73.88% annualized return.
TYD
- 1D
- 1.70%
- 1M
- 2.86%
- YTD
- -4.64%
- 6M
- -5.39%
- 1Y
- -1.34%
- 3Y*
- -4.11%
- 5Y*
- -12.66%
- 10Y*
- -5.10%
UVXY
- 1D
- -1.25%
- 1M
- -15.98%
- YTD
- -23.04%
- 6M
- -25.05%
- 1Y
- -71.58%
- 3Y*
- -62.12%
- 5Y*
- -66.83%
- 10Y*
- -73.88%
TYD vs. UVXY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
TYD Direxion Daily 7-10 Year Treasury Bull 3X | -4.64% | 11.68% | -13.89% | -2.87% | -43.32% | -11.36% | 27.62% | 17.88% | 0.76% | 5.64% |
UVXY ProShares Ultra VIX Short-Term Futures ETF | -23.04% | -65.32% | -50.90% | -87.70% | -44.81% | -88.33% | -17.38% | -84.23% | 60.10% | -94.17% |
Correlation
The correlation between TYD and UVXY is -0.10, 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 | -0.10 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.09 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.01 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.08 |
Correlation (All Time) Calculated using the full available price history since Oct 4, 2011 | 0.16 |
The correlation between TYD and UVXY shifts across timeframes, from -0.10 (1 year) to 0.16 (all time), reflecting how their relationship changes across market environments.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
TYD vs. UVXY — Risk / Return Rank
TYD
UVXY
TYD vs. UVXY - 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 VIX Short-Term Futures ETF (UVXY). 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 | UVXY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.75 | ||
| Sortino ratioReturn per unit of downside risk | +1.47 | ||
| Omega ratioGain probability vs. loss probability | 1.00 | 0.83 | +0.17 |
| Calmar ratioReturn relative to maximum drawdown | -0.10 | -0.98 | +0.88 |
| Martin ratioReturn relative to average drawdown | -0.24 | -1.42 | +1.18 |
Loading charts...
Drawdowns
TYD vs. UVXY - Drawdown Comparison
The maximum TYD drawdown since its inception was -64.28%, smaller than the maximum UVXY drawdown of -100.00%. Use the drawdown chart below to compare losses from any high point for TYD and UVXY.
Loading charts...
Drawdown Indicators
| TYD | UVXY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -64.28% | -100.00% | +35.72% |
Max Drawdown (1Y)Largest decline over 1 year | -13.54% | -72.99% | +59.45% |
Max Drawdown (3Y)Largest decline over 3 years | -24.62% | -94.91% | +70.29% |
Max Drawdown (5Y)Largest decline over 5 years | -59.84% | -99.71% | +39.87% |
Max Drawdown (10Y)Largest decline over 10 years | -64.28% | -100.00% | +35.72% |
Current DrawdownCurrent decline from peak | -58.56% | -100.00% | +41.44% |
Average DrawdownAverage peak-to-trough decline | -22.06% | -98.75% | +76.69% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.56% | 51.19% | -45.63% |
Volatility
TYD vs. UVXY - Volatility Comparison
The current volatility for Direxion Daily 7-10 Year Treasury Bull 3X (TYD) is 4.34%, while ProShares Ultra VIX Short-Term Futures ETF (UVXY) has a volatility of 25.80%. This indicates that TYD experiences smaller price fluctuations and is considered to be less risky than UVXY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| TYD | UVXY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.34% | 25.80% | -21.46% |
Volatility (6M)Calculated over the trailing 6-month period | 10.09% | 66.21% | -56.12% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.92% | 85.44% | -71.52% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 22.99% | 103.95% | -80.96% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.34% | 112.37% | -92.03% |
TYD vs. UVXY - Expense Ratio Comparison
TYD has a 1.09% expense ratio, which is higher than UVXY's 0.95% expense ratio.
Dividends
TYD vs. UVXY - Dividend Comparison
TYD's dividend yield for the trailing twelve months is around 3.24%, while UVXY 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 | 3.24% | 2.97% | 3.10% | 2.71% | 0.55% | 0.00% | 9.80% | 0.92% | 1.10% | 0.01% | 6.84% | 1.65% |
UVXY ProShares Ultra VIX Short-Term Futures ETF | 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 UVXY have a correlation of -0.10, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
UVXY has higher volatility (25.80%) compared to TYD (4.34%). In terms of maximum drawdown, TYD dropped -64.28% vs UVXY's -100.00%.
On 10-year performance, TYD leads with -5.10% vs -73.88% for UVXY. On fees, UVXY is cheaper at 0.95% per year. On volatility, TYD has been the lower-risk option at 4.34%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, TYD has performed better with a -5.10% return vs -73.88%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
UVXY is cheaper with a 0.95% expense ratio, compared with 1.09% for TYD.
TYD has the higher dividend yield at 3.24%, compared with 0.00% for UVXY.
TYD is categorized as Leveraged Bonds, while UVXY is Volatility. TYD tracks NYSE 7-10 Year Treasury Bond Index, while UVXY tracks S&P 500 VIX SHORT-TERM FUTURES TR (150%). They also come from different issuers: Direxion and ProShares. Their fees differ too: 1.09% for TYD and 0.95% for UVXY.
TYD currently has the higher Sharpe Ratio (-0.10 vs -0.84), 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.
Find the right allocation for TYD and UVXY
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer