TYD vs. YCS
TYD (Direxion Daily 7-10 Year Treasury Bull 3X) and YCS (ProShares UltraShort Yen) are both exchange-traded funds - TYD is a Leveraged Bonds fund tracking the NYSE 7-10 Year Treasury Bond Index, while YCS is a Leveraged Currency fund tracking the USD/JPY Exchange Rate (-200%). Both are passively managed. Over the past 10 years, TYD returned -5.51%/yr vs 13.05%/yr for YCS. At a correlation of -0.46, they often move in opposite directions. TYD charges 1.09%/yr vs 1.00%/yr for YCS.
Performance
TYD vs. YCS - 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 YCS's 10.72% return. Over the past 10 years, TYD has underperformed YCS with an annualized return of -5.51%, while YCS has yielded a comparatively higher 13.05% 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%
YCS
- 1D
- 0.38%
- 1M
- 2.89%
- 6M
- 8.26%
- YTD
- 10.72%
- 1Y
- 29.55%
- 3Y*
- 21.25%
- 5Y*
- 24.17%
- 10Y*
- 13.05%
TYD vs. YCS - 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% |
YCS ProShares UltraShort Yen | 10.72% | 9.04% | 35.41% | 28.70% | 29.09% | 22.38% | -11.18% | 3.37% | -1.49% | -6.57% |
Correlation
The correlation between TYD and YCS is -0.47, 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 | -0.47 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.48 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.51 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.48 |
Correlation (All Time) Calculated using the full available price history since Apr 16, 2009 | -0.46 |
The correlation between TYD and YCS has been stable across timeframes, ranging from -0.51 to -0.46 - a consistent structural relationship.
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Return for Risk
TYD vs. YCS — Risk / Return Rank
TYD
YCS
TYD vs. YCS - 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 UltraShort Yen (YCS). 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 | YCS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.98 | ||
| Sortino ratioReturn per unit of downside risk | -2.45 | ||
| Omega ratioGain probability vs. loss probability | 0.98 | 1.34 | -0.36 |
| Calmar ratioReturn relative to maximum drawdown | -0.20 | 3.58 | -3.77 |
| Martin ratioReturn relative to average drawdown | -0.45 | 11.30 | -11.75 |
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Drawdowns
TYD vs. YCS - Drawdown Comparison
The maximum TYD drawdown since its inception was -64.28%, which is greater than YCS's maximum drawdown of -49.56%. Use the drawdown chart below to compare losses from any high point for TYD and YCS.
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Drawdown Indicators
| TYD | YCS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -64.28% | -49.56% | -14.72% |
Max Drawdown (1Y)Largest decline over 1 year | -13.54% | -8.30% | -5.24% |
Max Drawdown (3Y)Largest decline over 3 years | -23.96% | -23.05% | -0.91% |
Max Drawdown (5Y)Largest decline over 5 years | -59.84% | -27.32% | -32.52% |
Max Drawdown (10Y)Largest decline over 10 years | -64.28% | -27.32% | -36.96% |
Current DrawdownCurrent decline from peak | -60.15% | -0.63% | -59.52% |
Average DrawdownAverage peak-to-trough decline | -22.16% | -19.81% | -2.35% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.95% | 2.62% | +3.33% |
Volatility
TYD vs. YCS - Volatility Comparison
Direxion Daily 7-10 Year Treasury Bull 3X (TYD) has a higher volatility of 4.65% compared to ProShares UltraShort Yen (YCS) at 3.06%. This indicates that TYD's price experiences larger fluctuations and is considered to be riskier than YCS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| TYD | YCS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.65% | 3.06% | +1.59% |
Volatility (6M)Calculated over the trailing 6-month period | 10.29% | 11.94% | -1.65% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.84% | 16.63% | -2.79% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 22.98% | 21.09% | +1.89% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.20% | 18.71% | +1.49% |
TYD vs. YCS - Expense Ratio Comparison
TYD has a 1.09% expense ratio, which is higher than YCS's 1.00% expense ratio.
Dividends
TYD vs. YCS - Dividend Comparison
TYD's dividend yield for the trailing twelve months is around 3.36%, while YCS 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 | 3.36% | 2.97% | 3.10% | 2.71% | 0.55% | 0.00% | 9.80% | 0.92% | 1.10% | 0.01% | 6.84% | 1.65% |
YCS ProShares UltraShort Yen | 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 YCS have a correlation of -0.47, 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 YCS (3.06%). In terms of maximum drawdown, TYD dropped -64.28% vs YCS's -49.56%.
On 10-year performance, YCS leads with 13.05% vs -5.51% for TYD. On fees, YCS is cheaper at 1.00% per year. On volatility, YCS has been the lower-risk option at 3.06%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, YCS has performed better with a 13.05% return vs -5.51%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
YCS is cheaper with a 1.00% expense ratio, compared with 1.09% for TYD.
TYD has the higher dividend yield at 3.36%, compared with 0.00% for YCS.
TYD is categorized as Leveraged Bonds, while YCS is Leveraged Currency. TYD tracks NYSE 7-10 Year Treasury Bond Index, while YCS tracks USD/JPY Exchange Rate (-200%). They also come from different issuers: Direxion and ProShares. Their fees differ too: 1.09% for TYD and 1.00% for YCS.
YCS currently has the higher Sharpe Ratio (1.79 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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