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TYO vs. SPY
Performance
Risk-Adjusted Performance
Dividends
Drawdowns
Volatility

Correlation

The correlation between TYO and SPY is 0.25, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.


-0.50.00.51.0
Correlation: 0.3

Performance

TYO vs. SPY - 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 SPDR S&P 500 ETF (SPY). The values are adjusted to include any dividend payments, if applicable.

0.00%200.00%400.00%600.00%800.00%NovemberDecember2025FebruaryMarchApril
-72.45%
754.50%
TYO
SPY

Key characteristics

Sharpe Ratio

TYO:

-0.32

SPY:

0.51

Sortino Ratio

TYO:

-0.32

SPY:

0.86

Omega Ratio

TYO:

0.96

SPY:

1.13

Calmar Ratio

TYO:

-0.08

SPY:

0.55

Martin Ratio

TYO:

-0.61

SPY:

2.26

Ulcer Index

TYO:

10.38%

SPY:

4.55%

Daily Std Dev

TYO:

19.93%

SPY:

20.08%

Max Drawdown

TYO:

-89.25%

SPY:

-55.19%

Current Drawdown

TYO:

-78.69%

SPY:

-9.89%

Returns By Period

In the year-to-date period, TYO achieves a -6.82% return, which is significantly lower than SPY's -5.76% return. Over the past 10 years, TYO has underperformed SPY with an annualized return of -1.20%, while SPY has yielded a comparatively higher 12.04% annualized return.


TYO

YTD

-6.82%

1M

-2.43%

6M

0.46%

1Y

-7.98%

5Y*

13.44%

10Y*

-1.20%

SPY

YTD

-5.76%

1M

-2.90%

6M

-4.30%

1Y

9.72%

5Y*

15.64%

10Y*

12.04%

*Annualized

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TYO vs. SPY - Expense Ratio Comparison

TYO has a 1.08% expense ratio, which is higher than SPY's 0.09% expense ratio.


Expense ratio chart for TYO: current value is 1.08%, compared with the broader market range of 0.00% to 2.12%.0.50%1.00%1.50%2.00%
TYO: 1.08%
Expense ratio chart for SPY: current value is 0.09%, compared with the broader market range of 0.00% to 2.12%.0.50%1.00%1.50%2.00%
SPY: 0.09%

Risk-Adjusted Performance

TYO vs. SPY — Risk-Adjusted Performance Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

TYO
The Risk-Adjusted Performance Rank of TYO is 1010
Overall Rank
The Sharpe Ratio Rank of TYO is 99
Sharpe Ratio Rank
The Sortino Ratio Rank of TYO is 88
Sortino Ratio Rank
The Omega Ratio Rank of TYO is 99
Omega Ratio Rank
The Calmar Ratio Rank of TYO is 1616
Calmar Ratio Rank
The Martin Ratio Rank of TYO is 1111
Martin Ratio Rank

SPY
The Risk-Adjusted Performance Rank of SPY is 6363
Overall Rank
The Sharpe Ratio Rank of SPY is 5959
Sharpe Ratio Rank
The Sortino Ratio Rank of SPY is 6161
Sortino Ratio Rank
The Omega Ratio Rank of SPY is 6464
Omega Ratio Rank
The Calmar Ratio Rank of SPY is 6666
Calmar Ratio Rank
The Martin Ratio Rank of SPY is 6565
Martin Ratio Rank
The risk-adjusted ranks indicate the investment's position relative to the market. A rank closer to 100 signifies top-performing investments, while a rank closer to 0 might suggest underperformance, based on the selected ratio. The values are calculated based on the past 12 months of returns.

TYO vs. SPY - 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 SPDR S&P 500 ETF (SPY). 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.


The chart of Sharpe ratio for TYO, currently valued at -0.32, compared to the broader market-1.000.001.002.003.004.00
TYO: -0.32
SPY: 0.51
The chart of Sortino ratio for TYO, currently valued at -0.32, compared to the broader market-2.000.002.004.006.008.00
TYO: -0.32
SPY: 0.86
The chart of Omega ratio for TYO, currently valued at 0.96, compared to the broader market0.501.001.502.00
TYO: 0.96
SPY: 1.13
The chart of Calmar ratio for TYO, currently valued at -0.08, compared to the broader market0.002.004.006.008.0010.0012.00
TYO: -0.08
SPY: 0.55
The chart of Martin ratio for TYO, currently valued at -0.61, compared to the broader market0.0020.0040.0060.00
TYO: -0.61
SPY: 2.26

The current TYO Sharpe Ratio is -0.32, which is lower than the SPY Sharpe Ratio of 0.51. The chart below compares the historical Sharpe Ratios of TYO and SPY, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.


Rolling 12-month Sharpe Ratio-1.000.001.002.003.004.00NovemberDecember2025FebruaryMarchApril
-0.32
0.51
TYO
SPY

Dividends

TYO vs. SPY - Dividend Comparison

TYO's dividend yield for the trailing twelve months is around 4.27%, more than SPY's 1.30% yield.


TTM20242023202220212020201920182017201620152014
TYO
Direxion Daily 7-10 Year Treasury Bear 3X
4.27%4.22%3.62%0.09%0.00%0.37%1.58%0.32%0.00%0.00%0.00%0.00%
SPY
SPDR S&P 500 ETF
1.30%1.21%1.40%1.65%1.20%1.52%1.75%2.04%1.80%2.03%2.06%1.87%

Drawdowns

TYO vs. SPY - Drawdown Comparison

The maximum TYO drawdown since its inception was -89.25%, which is greater than SPY's maximum drawdown of -55.19%. Use the drawdown chart below to compare losses from any high point for TYO and SPY. For additional features, visit the drawdowns tool.


-80.00%-60.00%-40.00%-20.00%0.00%NovemberDecember2025FebruaryMarchApril
-78.69%
-9.89%
TYO
SPY

Volatility

TYO vs. SPY - Volatility Comparison

The current volatility for Direxion Daily 7-10 Year Treasury Bear 3X (TYO) is 7.89%, while SPDR S&P 500 ETF (SPY) has a volatility of 15.12%. This indicates that TYO experiences smaller price fluctuations and is considered to be less risky than SPY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.


0.00%5.00%10.00%15.00%NovemberDecember2025FebruaryMarchApril
7.89%
15.12%
TYO
SPY