TYO vs. JSCP
TYO (Direxion Daily 7-10 Year Treasury Bear 3X) and JSCP (JPMorgan Short Duration Core Plus ETF) are both exchange-traded funds - TYO is a Leveraged Bonds fund tracking the NYSE 7-10 Year Treasury Bond Index, while JSCP is a Short-Term Bond fund actively managed by JPMorgan. TYO is passively managed, while JSCP is actively managed. Over the past 5 years, TYO returned 12.51%/yr vs 2.37%/yr for JSCP. At a correlation of -0.76, they often move in opposite directions. TYO charges 1.08%/yr vs 0.33%/yr for JSCP.
Performance
TYO vs. JSCP - Performance Comparison
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Returns By Period
In the year-to-date period, TYO achieves a 8.03% return, which is significantly higher than JSCP's 0.60% return.
TYO
- 1D
- 1.07%
- 1M
- 1.54%
- YTD
- 8.03%
- 6M
- 11.18%
- 1Y
- 3.00%
- 3Y*
- 7.71%
- 5Y*
- 12.51%
- 10Y*
- 1.79%
JSCP
- 1D
- -0.03%
- 1M
- 0.18%
- YTD
- 0.60%
- 6M
- 0.93%
- 1Y
- 4.64%
- 3Y*
- 5.52%
- 5Y*
- 2.37%
- 10Y*
- —
TYO vs. JSCP - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
TYO Direxion Daily 7-10 Year Treasury Bear 3X | 8.03% | -7.64% | 18.94% | 1.06% | 58.83% | -3.75% |
JSCP JPMorgan Short Duration Core Plus ETF | 0.60% | 6.86% | 5.06% | 6.22% | -5.80% | 0.18% |
Correlation
The correlation between TYO and JSCP is -0.88, 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 | -0.88 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.86 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.77 |
Correlation (All Time) Calculated using the full available price history since Mar 3, 2021 | -0.76 |
The correlation between TYO and JSCP shifts across timeframes, from -0.88 (1 year) to -0.76 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
TYO vs. JSCP — Risk / Return Rank
TYO
JSCP
TYO vs. JSCP - 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 JPMorgan Short Duration Core Plus ETF (JSCP). 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.
| TYO | JSCP | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.21 | 2.70 | -2.49 |
Sortino ratioReturn per unit of downside risk | 0.39 | 4.36 | -3.97 |
Omega ratioGain probability vs. loss probability | 1.05 | 1.54 | -0.50 |
Calmar ratioReturn relative to maximum drawdown | 0.29 | 3.67 | -3.39 |
Martin ratioReturn relative to average drawdown | 0.51 | 13.90 | -13.39 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| TYO | JSCP | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.21 | 2.70 | -2.49 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.54 | 0.93 | -0.39 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.09 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.34 | 0.94 | -1.28 |
Drawdowns
TYO vs. JSCP - Drawdown Comparison
The maximum TYO drawdown since its inception was -89.25%, which is greater than JSCP's maximum drawdown of -8.90%. Use the drawdown chart below to compare losses from any high point for TYO and JSCP.
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Drawdown Indicators
| TYO | JSCP | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -89.25% | -8.90% | -80.35% |
Max Drawdown (1Y)Largest decline over 1 year | -10.48% | -1.27% | -9.21% |
Max Drawdown (3Y)Largest decline over 3 years | -24.40% | -1.59% | -22.81% |
Max Drawdown (5Y)Largest decline over 5 years | -24.40% | -8.90% | -15.50% |
Max Drawdown (10Y)Largest decline over 10 years | -52.21% | — | — |
Current DrawdownCurrent decline from peak | -77.19% | -0.37% | -76.82% |
Average DrawdownAverage peak-to-trough decline | -71.09% | -2.06% | -69.03% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.85% | 0.33% | +5.52% |
Volatility
TYO vs. JSCP - Volatility Comparison
Direxion Daily 7-10 Year Treasury Bear 3X (TYO) has a higher volatility of 4.94% compared to JPMorgan Short Duration Core Plus ETF (JSCP) at 0.54%. This indicates that TYO's price experiences larger fluctuations and is considered to be riskier than JSCP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| TYO | JSCP | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.94% | 0.54% | +4.40% |
Volatility (6M)Calculated over the trailing 6-month period | 10.14% | 1.21% | +8.93% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.56% | 1.73% | +12.83% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 23.23% | 2.57% | +20.66% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.19% | 2.55% | +17.64% |
TYO vs. JSCP - Expense Ratio Comparison
TYO has a 1.08% expense ratio, which is higher than JSCP's 0.33% expense ratio.
Dividends
TYO vs. JSCP - Dividend Comparison
TYO's dividend yield for the trailing twelve months is around 2.82%, less than JSCP's 4.49% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
JSCP JPMorgan Short Duration Core Plus ETF | 4.49% | 4.64% | 4.76% | 4.13% | 2.51% | 1.09% | 0.00% | 0.00% | 0.00% |
TYO Direxion Daily 7-10 Year Treasury Bear 3X | 2.82% | 3.69% | 4.22% | 3.62% | 0.09% | 0.00% | 0.36% | 1.58% | 0.32% |
Frequently Asked Questions
TYO and JSCP have a correlation of -0.88, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
TYO has higher volatility (4.94%) compared to JSCP (0.54%). In terms of maximum drawdown, TYO dropped -89.25% vs JSCP's -8.90%.
On 5-year performance, TYO leads with 12.51% vs 2.37% for JSCP. On fees, JSCP is cheaper at 0.33% per year. On volatility, JSCP has been the lower-risk option at 0.54%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, TYO has performed better with a 12.51% return vs 2.37%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
JSCP is cheaper with a 0.33% expense ratio, compared with 1.08% for TYO.
JSCP has the higher dividend yield at 4.49%, compared with 2.82% for TYO.
TYO is categorized as Leveraged Bonds, while JSCP is Short-Term Bond. They also come from different issuers: Direxion and JPMorgan. Their fees differ too: 1.08% for TYO and 0.33% for JSCP.
JSCP currently has the higher Sharpe Ratio (2.70 vs 0.21), 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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