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 -5.77%/yr vs 13.76%/yr for YCS. Their -0.46 correlation means they have often moved in opposite directions in the past. TYD charges 1.09%/yr vs 1.00%/yr for YCS.
Performance
TYD vs. YCS - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, TYD achieves a -10.03% return, which is significantly lower than YCS's 7.29% return. Over the past 10 years, TYD has underperformed YCS with an annualized return of -5.77%, while YCS has yielded a comparatively higher 13.76% annualized return.
TYD
- 1D
- -1.01%
- 1M
- -4.64%
- 6M
- -8.59%
- YTD
- -10.03%
- 1Y
- -8.85%
- 3Y*
- -3.83%
- 5Y*
- -14.92%
- 10Y*
- -5.77%
- ALL TIME*
- 0.87%
YCS
- 1D
- -0.84%
- 1M
- -2.27%
- 6M
- 9.33%
- YTD
- 7.29%
- 1Y
- 25.05%
- 3Y*
- 17.34%
- 5Y*
- 23.55%
- 10Y*
- 13.76%
- ALL TIME*
- 6.44%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $420.72K | $411.37K | $510.43K | |
| $1.53M | $2.43M | $1.42M |
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 | -10.03% | 11.68% | -13.89% | -2.87% | -43.32% | -11.36% | 27.62% | 17.88% | 0.76% | 5.64% |
YCS ProShares UltraShort Yen | 7.29% | 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 -0.44, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.44 |
Correlation (3Y) Balances recent behavior with more history. | -0.49 |
Correlation (5Y) Shows whether the relationship held over a longer period. | -0.51 |
Correlation (10Y) Provides a long-term view across more market conditions. | -0.47 |
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 -0.44 - 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.
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 | -1.58 | ||
| Sortino ratioReturn per unit of downside risk | -2.02 | ||
| Omega ratioGain probability vs. loss probability | 0.94 | 1.23 | -0.29 |
| Calmar ratioReturn relative to maximum drawdown | -0.39 | 2.35 | -2.74 |
| Martin ratioReturn relative to average drawdown | -0.84 | 8.93 | -9.77 |
Loading charts...
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.
Loading charts...
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 | -14.41% | -8.30% | -6.11% |
Max Drawdown (3Y)Largest decline over 3 years | -22.32% | -23.05% | +0.73% |
Max Drawdown (5Y)Largest decline over 5 years | -59.80% | -27.32% | -32.48% |
Max Drawdown (10Y)Largest decline over 10 years | -64.28% | -27.32% | -36.96% |
Current DrawdownCurrent decline from peak | -60.90% | -5.68% | -55.22% |
Average DrawdownAverage peak-to-trough decline | -22.29% | -19.75% | -2.54% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.69% | 2.64% | +4.05% |
Volatility
TYD vs. YCS - Volatility Comparison
The current volatility for Direxion Daily 7-10 Year Treasury Bull 3X (TYD) is 3.45%, while ProShares UltraShort Yen (YCS) has a volatility of 5.30%. This indicates that TYD experiences smaller price fluctuations and is considered to be less risky than YCS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| TYD | YCS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.45% | 5.30% | -1.85% |
Volatility (6M)Calculated over the trailing 6-month period | 10.38% | 11.65% | -1.27% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.68% | 16.85% | -3.17% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 22.92% | 21.16% | +1.76% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.18% | 18.61% | +1.57% |
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 3.43%, 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 | 3.43% | 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 -0.44, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
YCS has higher volatility (5.30%) compared to TYD (3.45%). In terms of maximum drawdown, TYD dropped -64.28% vs YCS's -49.56%.
On 10-year performance, YCS leads with 13.76% vs -5.77% for TYD. On fees, YCS is cheaper at 1.00% per year. On volatility, TYD has been the lower-risk option at 3.45%. 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 13.76% return vs -5.77%. 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 3.43%, 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 (1.16 vs -0.41), 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 YCS
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