TYO vs. PFIX
Compare and contrast key facts about Direxion Daily 7-10 Year Treasury Bear 3X (TYO) and Simplify Interest Rate Hedge ETF (PFIX).
TYO and PFIX are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. TYO is a passively managed fund by Direxion that tracks the performance of the NYSE 7-10 Year Treasury Bond Index. It was launched on Apr 16, 2009. PFIX is an actively managed fund by Simplify Asset Management Inc.. It was launched on May 10, 2021.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: TYO or PFIX.
Key characteristics
| TYO | PFIX | |
|---|---|---|
| YTD Return | 12.47% | 23.19% |
| 1Y Return | -4.87% | -10.68% |
| 3Y Return (Ann) | 22.02% | 31.48% |
| Sharpe Ratio | -0.09 | -0.17 |
| Sortino Ratio | 0.03 | 0.04 |
| Omega Ratio | 1.00 | 1.00 |
| Calmar Ratio | -0.02 | -0.18 |
| Martin Ratio | -0.17 | -0.42 |
| Ulcer Index | 11.04% | 17.11% |
| Daily Std Dev | 22.06% | 41.10% |
| Max Drawdown | -89.25% | -39.52% |
| Current Drawdown | -78.38% | -22.64% |
Correlation
The correlation between TYO and PFIX is 0.77, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Performance
TYO vs. PFIX - Performance Comparison
In the year-to-date period, TYO achieves a 12.47% return, which is significantly lower than PFIX's 23.19% return. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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TYO vs. PFIX - Expense Ratio Comparison
TYO has a 1.08% expense ratio, which is higher than PFIX's 0.50% expense ratio.
Risk-Adjusted Performance
TYO vs. PFIX - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Direxion Daily 7-10 Year Treasury Bear 3X (TYO) and Simplify Interest Rate Hedge ETF (PFIX). 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.
Dividends
TYO vs. PFIX - Dividend Comparison
TYO's dividend yield for the trailing twelve months is around 4.63%, less than PFIX's 69.22% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|
TYO Direxion Daily 7-10 Year Treasury Bear 3X | 4.63% | 3.62% | 0.09% | 0.00% | 0.37% | 1.57% | 0.32% |
PFIX Simplify Interest Rate Hedge ETF | 69.22% | 80.99% | 0.63% | 0.00% | 0.00% | 0.00% | 0.00% |
Drawdowns
TYO vs. PFIX - Drawdown Comparison
The maximum TYO drawdown since its inception was -89.25%, which is greater than PFIX's maximum drawdown of -39.52%. Use the drawdown chart below to compare losses from any high point for TYO and PFIX. For additional features, visit the drawdowns tool.
Volatility
TYO vs. PFIX - Volatility Comparison
The current volatility for Direxion Daily 7-10 Year Treasury Bear 3X (TYO) is 6.17%, while Simplify Interest Rate Hedge ETF (PFIX) has a volatility of 13.67%. This indicates that TYO experiences smaller price fluctuations and is considered to be less risky than PFIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.