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TYO vs. QQQE
Performance
Return for Risk
Drawdowns
Volatility
Dividends

TYO vs. QQQE

Last updated Jun 4, 2026

TYO (Direxion Daily 7-10 Year Treasury Bear 3X) and QQQE (Direxion NASDAQ-100 Equal Weighted Index Shares) are both exchange-traded funds - TYO is a Leveraged Bonds fund tracking the NYSE 7-10 Year Treasury Bond Index, while QQQE is a Nasdaq-100 fund tracking the NASDAQ-100 Equal Weighted Index. Both are passively managed. Over the past 10 years, TYO returned 1.79%/yr vs 15.49%/yr for QQQE. At a 0.11 correlation, their price movements are largely independent. TYO charges 1.08%/yr vs 0.35%/yr for QQQE.

Performance

TYO vs. QQQE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Direxion Daily 7-10 Year Treasury Bear 3X (TYO) and Direxion NASDAQ-100 Equal Weighted Index Shares (QQQE). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, TYO achieves a 8.03% return, which is significantly lower than QQQE's 19.12% return. Over the past 10 years, TYO has underperformed QQQE with an annualized return of 1.79%, while QQQE has yielded a comparatively higher 15.49% annualized 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%

QQQE

1D
-0.10%
1M
10.46%
YTD
19.12%
6M
17.48%
1Y
28.68%
3Y*
18.69%
5Y*
10.30%
10Y*
15.49%
*Multi-year figures are annualized to reflect compound growth (CAGR)

TYO vs. QQQE - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
TYO
Direxion Daily 7-10 Year Treasury Bear 3X		8.03%-7.64%18.94%1.06%58.83%7.47%-28.56%-18.71%-1.42%-8.94%
QQQE
Direxion NASDAQ-100 Equal Weighted Index Shares		19.12%14.58%6.98%33.76%-24.47%17.93%37.85%36.43%-5.40%26.53%

Correlation

The correlation between TYO and QQQE is -0.24, 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

-0.24

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

-0.18

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

-0.11

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

0.03

Correlation (All Time)
Calculated using the full available price history since Mar 22, 2012

0.11

The correlation between TYO and QQQE shifts across timeframes, from -0.24 (1 year) to 0.11 (all time), reflecting how their relationship changes across market environments.

Compare stocks, funds, or ETFs

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Direxion Daily 7-10 Year Treasury Bear 3X

Direxion NASDAQ-100 Equal Weighted Index Shares

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Return for Risk

TYO vs. QQQE — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
TYO
TYO Risk / Return Rank: 1111
Overall Rank
TYO Sharpe Ratio Rank: 1212
Sharpe Ratio Rank
TYO Sortino Ratio Rank: 1111
Sortino Ratio Rank
TYO Omega Ratio Rank: 1111
Omega Ratio Rank
TYO Calmar Ratio Rank: 1212
Calmar Ratio Rank
TYO Martin Ratio Rank: 1111
Martin Ratio Rank
QQQE
QQQE Risk / Return Rank: 5858
Overall Rank
QQQE Sharpe Ratio Rank: 5959
Sharpe Ratio Rank
QQQE Sortino Ratio Rank: 5757
Sortino Ratio Rank
QQQE Omega Ratio Rank: 5555
Omega Ratio Rank
QQQE Calmar Ratio Rank: 6161
Calmar Ratio Rank
QQQE Martin Ratio Rank: 5959
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.

TYO vs. QQQE - 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 Direxion NASDAQ-100 Equal Weighted Index Shares (QQQE). 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.

TYOQQQEDifference
Sharpe ratioReturn per unit of total volatility
0.21
2.04

-1.83

Sortino ratioReturn per unit of downside risk
0.39
2.79

-2.40

Omega ratioGain probability vs. loss probability

1.05

1.35

-0.30

Calmar ratioReturn relative to maximum drawdown

0.29

3.06

-2.77

Martin ratioReturn relative to average drawdown

0.51

10.57

-10.05

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

TYO vs. QQQE - Sharpe Ratio Comparison

The current TYO Sharpe Ratio is 0.21, which is lower than the QQQE Sharpe Ratio of 2.04. The chart below compares the historical Sharpe Ratios of TYO and QQQE, 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

TYOQQQEDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

0.21

2.04

-1.83

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.54

0.51

+0.03

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.09

0.75

-0.66

Sharpe Ratio (All Time)

Calculated using the full available price history

-0.34

0.76

-1.10

Drawdowns

TYO vs. QQQE - Drawdown Comparison

The maximum TYO drawdown since its inception was -89.25%, which is greater than QQQE's maximum drawdown of -32.14%. Use the drawdown chart below to compare losses from any high point for TYO and QQQE.

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Drawdown Indicators

TYOQQQEDifference

Max Drawdown

Largest peak-to-trough decline

-89.25%

-32.14%

-57.11%

Max Drawdown (1Y)

Largest decline over 1 year

-10.48%

-9.41%

-1.07%

Max Drawdown (3Y)

Largest decline over 3 years

-24.40%

-21.38%

-3.02%

Max Drawdown (5Y)

Largest decline over 5 years

-24.40%

-32.14%

+7.74%

Max Drawdown (10Y)

Largest decline over 10 years

-52.21%

-32.14%

-20.07%

Current Drawdown

Current decline from peak

-77.19%

-0.10%

-77.09%

Average Drawdown

Average peak-to-trough decline

-71.09%

-5.17%

-65.92%

Ulcer Index

Depth and duration of drawdowns from previous peaks

5.85%

2.72%

+3.13%

Volatility

TYO vs. QQQE - Volatility Comparison

Direxion Daily 7-10 Year Treasury Bear 3X (TYO) has a higher volatility of 4.94% compared to Direxion NASDAQ-100 Equal Weighted Index Shares (QQQE) at 3.79%. This indicates that TYO's price experiences larger fluctuations and is considered to be riskier than QQQE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

TYOQQQEDifference

Volatility (1M)

Calculated over the trailing 1-month period

4.94%

3.79%

+1.15%

Volatility (6M)

Calculated over the trailing 6-month period

10.14%

10.64%

-0.50%

Volatility (1Y)

Calculated over the trailing 1-year period

14.56%

14.15%

+0.41%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

23.23%

20.30%

+2.93%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

20.19%

20.72%

-0.53%

TYO vs. QQQE - Expense Ratio Comparison

TYO has a 1.08% expense ratio, which is higher than QQQE's 0.35% expense ratio.

Dividends

TYO vs. QQQE - Dividend Comparison

TYO's dividend yield for the trailing twelve months is around 2.82%, more than QQQE's 0.52% yield.

PositionTTM20252024202320222021202020192018201720162015
QQQE
Direxion NASDAQ-100 Equal Weighted Index Shares		0.52%0.52%0.86%0.79%0.98%3.83%0.54%0.74%0.80%0.65%1.17%0.57%
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%0.00%0.00%0.00%

Frequently Asked Questions

TYO and QQQE have a correlation of -0.24, 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 QQQE (3.79%). In terms of maximum drawdown, TYO dropped -89.25% vs QQQE's -32.14%.

On 10-year performance, QQQE leads with 15.49% vs 1.79% for TYO. On fees, QQQE is cheaper at 0.35% per year. On volatility, QQQE has been the lower-risk option at 3.79%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, QQQE has performed better with a 15.49% return vs 1.79%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

QQQE is cheaper with a 0.35% expense ratio, compared with 1.08% for TYO.

TYO has the higher dividend yield at 2.82%, compared with 0.52% for QQQE.

TYO is categorized as Leveraged Bonds, while QQQE is Nasdaq-100. TYO tracks NYSE 7-10 Year Treasury Bond Index, while QQQE tracks NASDAQ-100 Equal Weighted Index. Their fees differ too: 1.08% for TYO and 0.35% for QQQE.

QQQE currently has the higher Sharpe Ratio (2.04 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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