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TYD vs. YCS
Performance
Return for Risk
Drawdowns
Volatility
Dividends

TYD vs. YCS

Last updated Jun 3, 2026

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 -4.63%/yr vs 12.32%/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

The chart below illustrates the hypothetical performance of a $10,000 investment in Direxion Daily 7-10 Year Treasury Bull 3X (TYD) and ProShares UltraShort Yen (YCS). 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 -5.40% return, which is significantly lower than YCS's 6.99% return. Over the past 10 years, TYD has underperformed YCS with an annualized return of -4.63%, while YCS has yielded a comparatively higher 12.32% annualized return.

TYD

1D
0.13%
1M
-1.42%
YTD
-5.40%
6M
-7.08%
1Y
1.17%
3Y*
-4.80%
5Y*
-12.47%
10Y*
-4.63%

YCS

1D
0.03%
1M
4.27%
YTD
6.99%
6M
8.81%
1Y
35.19%
3Y*
19.77%
5Y*
23.16%
10Y*
12.32%
*Multi-year figures are annualized to reflect compound growth (CAGR)

TYD vs. YCS - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
TYD
Direxion Daily 7-10 Year Treasury Bull 3X		-5.40%11.68%-13.89%-2.87%-43.32%-11.36%27.62%17.88%0.76%5.64%
YCS
ProShares UltraShort Yen		6.99%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 -0.53, 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

-0.53

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

-0.49

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

-0.52

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

-0.48

Correlation (All Time)
Calculated using the full available price history since Apr 17, 2009

-0.46

The correlation between TYD and YCS has been stable across timeframes, ranging from -0.53 to -0.46 - a consistent structural relationship.

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

Direxion Daily 7-10 Year Treasury Bull 3X

ProShares UltraShort Yen

Often compared with TYD:
TYD vs. TMFTYD vs. TYOTYD vs. EDVTYD vs. UJBTYD vs. PEXTYD vs. QQQTYD vs. SPY
Often compared with YCS:
YCS vs. YCLYCS vs. JPYUSD=XYCS vs. PFIXYCS vs. TBTYCS vs. UUPYCS vs. BCSFYCS vs. SPY

Return for Risk

TYD vs. YCS — 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: 1010
Sharpe Ratio Rank
TYD Sortino Ratio Rank: 99
Sortino Ratio Rank
TYD Omega Ratio Rank: 99
Omega Ratio Rank
TYD Calmar Ratio Rank: 99
Calmar Ratio Rank
TYD Martin Ratio Rank: 99
Martin Ratio Rank
YCS
YCS Risk / Return Rank: 6363
Overall Rank
YCS Sharpe Ratio Rank: 6060
Sharpe Ratio Rank
YCS Sortino Ratio Rank: 5353
Sortino Ratio Rank
YCS Omega Ratio Rank: 6060
Omega Ratio Rank
YCS Calmar Ratio Rank: 7777
Calmar Ratio Rank
YCS Martin Ratio Rank: 6666
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. 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.

TYDYCSDifference

Sharpe ratio

Return per unit of total volatility

0.08

2.05

-1.96

Sortino ratio

Return per unit of downside risk

0.22

2.59

-2.37

Omega ratio

Gain probability vs. loss probability

1.02

1.37

-0.35

Calmar ratio

Return relative to maximum drawdown

0.02

3.95

-3.93

Martin ratio

Return relative to average drawdown

0.05

12.35

-12.30

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. YCS - Sharpe Ratio Comparison

The current TYD Sharpe Ratio is 0.08, which is lower than the YCS Sharpe Ratio of 2.05. The chart below compares the historical Sharpe Ratios of TYD and YCS, 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

TYDYCSDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

0.08

2.05

-1.96

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

-0.55

1.10

-1.65

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

-0.23

0.65

-0.88

Sharpe Ratio (All Time)

Calculated using the full available price history

0.05

0.33

-0.28

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

TYDYCSDifference

Max Drawdown

Largest 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

-25.04%

-23.05%

-1.99%

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 Drawdown

Current decline from peak

-58.89%

-0.04%

-58.85%

Average Drawdown

Average peak-to-trough decline

-21.94%

-19.94%

-2.00%

Ulcer Index

Depth and duration of drawdowns from previous peaks

4.92%

2.66%

+2.26%

Volatility

TYD vs. YCS - Volatility Comparison

Direxion Daily 7-10 Year Treasury Bull 3X (TYD) has a higher volatility of 4.26% compared to ProShares UltraShort Yen (YCS) at 2.75%. 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

TYDYCSDifference

Volatility (1M)

Calculated over the trailing 1-month period

4.26%

2.75%

+1.51%

Volatility (6M)

Calculated over the trailing 6-month period

9.67%

12.36%

-2.69%

Volatility (1Y)

Calculated over the trailing 1-year period

14.13%

17.38%

-3.25%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

22.98%

21.11%

+1.87%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

20.37%

19.02%

+1.35%

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 3.20%, while YCS has not paid dividends to shareholders.

PositionTTM20252024202320222021202020192018201720162015
TYD
Direxion Daily 7-10 Year Treasury Bull 3X		3.20%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 -0.53, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

TYD has higher volatility (4.26%) compared to YCS (2.75%). In terms of maximum drawdown, TYD dropped -64.28% vs YCS's -49.56%.

On 10-year performance, YCS leads with 12.32% vs -4.63% for TYD. On fees, YCS is cheaper at 1.00% per year. On volatility, YCS has been the lower-risk option at 2.75%. 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 12.32% return vs -4.63%. 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 3.20%, 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 (2.05 vs 0.08), 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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