TYO vs. AGGA
TYO (Direxion Daily 7-10 Year Treasury Bear 3X) and AGGA (Astoria Dynamic Core US Fixed Income ETF) are both exchange-traded funds - TYO is a Leveraged Bonds fund tracking the NYSE 7-10 Year Treasury Bond Index, while AGGA is a Multisector Bonds fund actively managed by Astoria. TYO is passively managed, while AGGA is actively managed. Over the past year, TYO returned 13.40% vs 2.58% for AGGA. Their -0.87 correlation means they have often moved in opposite directions in the past. TYO charges 1.08%/yr vs 0.55%/yr for AGGA.
Performance
TYO vs. AGGA - Performance Comparison
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Returns By Period
In the year-to-date period, TYO achieves a 13.00% return, which is significantly higher than AGGA's 0.39% return.
TYO
- 1D
- 1.13%
- 1M
- 4.90%
- 6M
- 11.24%
- YTD
- 13.00%
- 1Y
- 13.40%
- 3Y*
- 6.55%
- 5Y*
- 15.57%
- 10Y*
- 2.74%
- ALL TIME*
- -6.54%
AGGA
- 1D
- -0.28%
- 1M
- -0.79%
- 6M
- 0.07%
- YTD
- 0.39%
- 1Y
- 2.58%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 3.90%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $225.36K | $302.31K | $395.65K | |
| $187.18K | $201.48K | $266.73K |
TYO vs. AGGA - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
TYO Direxion Daily 7-10 Year Treasury Bear 3X | 13.00% | 1.57% |
AGGA Astoria Dynamic Core US Fixed Income ETF | 0.39% | 4.49% |
Correlation
The correlation between TYO and AGGA is -0.86, 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. | -0.86 |
Correlation (All Time) Calculated using the full available price history since May 1, 2025 | -0.87 |
The correlation between TYO and AGGA has been stable across timeframes, ranging from -0.87 to -0.86 - a consistent structural relationship.
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Return for Risk
TYO vs. AGGA — Risk / Return Rank
TYO
AGGA
TYO vs. AGGA - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Direxion Daily 7-10 Year Treasury Bear 3X (TYO) and Astoria Dynamic Core US Fixed Income ETF (AGGA). 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.
| TYO | AGGA | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.70 | ||
| Sortino ratioReturn per unit of downside risk | -0.96 | ||
| Omega ratioGain probability vs. loss probability | 1.12 | 1.25 | -0.13 |
| Calmar ratioReturn relative to maximum drawdown | 1.40 | 2.03 | -0.63 |
| Martin ratioReturn relative to average drawdown | 2.88 | 7.50 | -4.61 |
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Drawdowns
TYO vs. AGGA - Drawdown Comparison
The maximum TYO drawdown since its inception was -89.25%, which is greater than AGGA's maximum drawdown of -1.47%. Use the drawdown chart below to compare losses from any high point for TYO and AGGA.
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Drawdown Indicators
| TYO | AGGA | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -89.25% | -1.47% | -87.78% |
Max Drawdown (1Y)Largest decline over 1 year | -6.90% | -1.47% | -5.43% |
Max Drawdown (3Y)Largest decline over 3 years | -24.40% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -24.40% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -52.21% | — | — |
Current DrawdownCurrent decline from peak | -76.14% | -0.96% | -75.18% |
Average DrawdownAverage peak-to-trough decline | -71.13% | -0.23% | -70.90% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.91% | 0.40% | +3.51% |
Volatility
TYO vs. AGGA - Volatility Comparison
Direxion Daily 7-10 Year Treasury Bear 3X (TYO) has a higher volatility of 3.79% compared to Astoria Dynamic Core US Fixed Income ETF (AGGA) at 0.65%. This indicates that TYO's price experiences larger fluctuations and is considered to be riskier than AGGA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| TYO | AGGA | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.79% | 0.65% | +3.14% |
Volatility (6M)Calculated over the trailing 6-month period | 11.04% | 1.80% | +9.24% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.19% | 2.17% | +12.02% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 23.17% | 2.24% | +20.93% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.15% | 2.24% | +17.91% |
TYO vs. AGGA - Expense Ratio Comparison
TYO has a 1.08% expense ratio, which is higher than AGGA's 0.55% expense ratio.
Dividends
TYO vs. AGGA - Dividend Comparison
TYO's dividend yield for the trailing twelve months is around 2.47%, less than AGGA's 4.25% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
AGGA Astoria Dynamic Core US Fixed Income ETF | 4.25% | 2.81% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
TYO Direxion Daily 7-10 Year Treasury Bear 3X | 2.47% | 3.69% | 4.22% | 3.62% | 0.09% | 0.00% | 0.36% | 1.58% | 0.32% |
Frequently Asked Questions
TYO and AGGA have a correlation of -0.86, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
TYO has higher volatility (3.79%) compared to AGGA (0.65%). In terms of maximum drawdown, TYO dropped -89.25% vs AGGA's -1.47%.
On 1-year performance, TYO leads with 13.40% vs 2.58% for AGGA. On fees, AGGA is cheaper at 0.55% per year. On volatility, AGGA has been the lower-risk option at 0.65%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, TYO has performed better with a 13.40% return vs 2.58%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
AGGA is cheaper with a 0.55% expense ratio, compared with 1.08% for TYO.
AGGA has the higher dividend yield at 4.25%, compared with 2.47% for TYO.
TYO is categorized as Leveraged Bonds, while AGGA is Multisector Bonds. They also come from different issuers: Direxion and Astoria. Their fees differ too: 1.08% for TYO and 0.55% for AGGA.
AGGA currently has the higher Sharpe Ratio (1.38 vs 0.68), 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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