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TYD vs. UVXY
Performance
Return for Risk
Drawdowns
Volatility
Dividends

TYD vs. UVXY

Last updated Jun 4, 2026

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 -4.71%/yr vs -72.67%/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

The chart below illustrates the hypothetical performance of a $10,000 investment in Direxion Daily 7-10 Year Treasury Bull 3X (TYD) and ProShares Ultra VIX Short-Term Futures ETF (UVXY). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, TYD achieves a -6.21% return, which is significantly higher than UVXY's -19.06% return. Over the past 10 years, TYD has outperformed UVXY with an annualized return of -4.71%, while UVXY has yielded a comparatively lower -72.67% annualized return.

TYD

1D
-0.86%
1M
-1.19%
YTD
-6.21%
6M
-8.43%
1Y
0.66%
3Y*
-5.07%
5Y*
-12.90%
10Y*
-4.71%

UVXY

1D
-0.24%
1M
-22.10%
YTD
-19.06%
6M
-37.37%
1Y
-72.91%
3Y*
-64.55%
5Y*
-67.90%
10Y*
-72.67%
*Multi-year figures are annualized to reflect compound growth (CAGR)

TYD vs. UVXY - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
TYD
Direxion Daily 7-10 Year Treasury Bull 3X		-6.21%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		-19.06%-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 -0.07, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

-0.07

Correlation (3Y)
Calculated over the trailing 3-year period

-0.07

Correlation (5Y)
Calculated over the trailing 5-year period

0.00

Correlation (10Y)
Calculated over the trailing 10-year period

0.09

Correlation (All Time)
Calculated using the full available price history since Oct 5, 2011

0.16

The correlation between TYD and UVXY shifts across timeframes, from -0.07 (3 years) to 0.16 (all time), reflecting how their relationship changes across market environments.

Compare stocks, funds, or ETFs

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Direxion Daily 7-10 Year Treasury Bull 3X

ProShares Ultra VIX Short-Term Futures ETF

Often compared with TYD:
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Often compared with UVXY:
UVXY vs. UVIXUVXY vs. VXXUVXY vs. VIXYUVXY vs. SVXYUVXY vs. SQQQUVXY vs. SPYUVXY vs. SPXS

Return for Risk

TYD vs. UVXY — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
TYD
TYD Risk / Return Rank: 99
Overall Rank
TYD Sharpe Ratio Rank: 99
Sharpe Ratio Rank
TYD Sortino Ratio Rank: 99
Sortino Ratio Rank
TYD Omega Ratio Rank: 88
Omega Ratio Rank
TYD Calmar Ratio Rank: 99
Calmar Ratio Rank
TYD Martin Ratio Rank: 99
Martin Ratio Rank
UVXY
UVXY Risk / Return Rank: 11
Overall Rank
UVXY Sharpe Ratio Rank: 22
Sharpe Ratio Rank
UVXY Sortino Ratio Rank: 11
Sortino Ratio Rank
UVXY Omega Ratio Rank: 11
Omega Ratio Rank
UVXY Calmar Ratio Rank: 11
Calmar Ratio Rank
UVXY Martin Ratio Rank: 22
Martin Ratio Rank
The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

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.

TYDUVXYDifference
Sharpe ratioReturn per unit of total volatility
0.05
-0.87

+0.91

Sortino ratioReturn per unit of downside risk
0.17
-1.60

+1.77

Omega ratioGain probability vs. loss probability

1.02

0.82

+0.20

Calmar ratioReturn relative to maximum drawdown

0.05

-0.97

+1.02

Martin ratioReturn relative to average drawdown

0.13

-1.31

+1.44

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

TYD vs. UVXY - Sharpe Ratio Comparison

The current TYD Sharpe Ratio is 0.05, which is higher than the UVXY Sharpe Ratio of -0.87. The chart below compares the historical Sharpe Ratios of TYD and UVXY, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Sharpe Ratios by Period

TYDUVXYDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

0.05

-0.87

+0.91

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

-0.56

-0.66

+0.09

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

-0.23

-0.64

+0.41

Sharpe Ratio (All Time)

Calculated using the full available price history

0.05

-0.68

+0.73

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.

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Drawdown Indicators

TYDUVXYDifference

Max Drawdown

Largest peak-to-trough decline

-64.28%

-100.00%

+35.72%

Max Drawdown (1Y)

Largest decline over 1 year

-13.54%

-75.22%

+61.68%

Max Drawdown (3Y)

Largest decline over 3 years

-25.04%

-95.45%

+70.41%

Max Drawdown (5Y)

Largest decline over 5 years

-59.84%

-99.68%

+39.84%

Max Drawdown (10Y)

Largest decline over 10 years

-64.28%

-100.00%

+35.72%

Current Drawdown

Current decline from peak

-59.24%

-100.00%

+40.76%

Average Drawdown

Average peak-to-trough decline

-21.95%

-98.55%

+76.60%

Ulcer Index

Depth and duration of drawdowns from previous peaks

4.97%

55.63%

-50.66%

Volatility

TYD vs. UVXY - Volatility Comparison

The current volatility for Direxion Daily 7-10 Year Treasury Bull 3X (TYD) is 4.20%, while ProShares Ultra VIX Short-Term Futures ETF (UVXY) has a volatility of 11.77%. 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.

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Volatility by Period

TYDUVXYDifference

Volatility (1M)

Calculated over the trailing 1-month period

4.20%

11.77%

-7.57%

Volatility (6M)

Calculated over the trailing 6-month period

9.58%

62.64%

-53.06%

Volatility (1Y)

Calculated over the trailing 1-year period

14.13%

84.42%

-70.29%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

22.98%

103.85%

-80.87%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

20.36%

113.82%

-93.46%

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 3.23%, while UVXY has not paid dividends to shareholders.

PositionTTM20252024202320222021202020192018201720162015
TYD
Direxion Daily 7-10 Year Treasury Bull 3X		3.23%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 -0.07, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

UVXY has higher volatility (11.77%) compared to TYD (4.20%). In terms of maximum drawdown, TYD dropped -64.28% vs UVXY's -100.00%.

On 10-year performance, TYD leads with -4.71% vs -72.67% for UVXY. On fees, UVXY is cheaper at 0.95% per year. On volatility, TYD has been the lower-risk option at 4.20%. 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 -4.71% return vs -72.67%. 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 3.23%, 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 (0.05 vs -0.87), 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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