TYO vs. TTT
Compare and contrast key facts about Direxion Daily 7-10 Year Treasury Bear 3X (TYO) and UltraPro Short 20+ Year Treasury (TTT).
TYO and TTT 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. TTT is a passively managed fund by ProShares that tracks the performance of the Barclays Capital U.S. 20+ Year Treasury Index (-300%). It was launched on Mar 27, 2012. Both TYO and TTT are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Performance
TYO vs. TTT - Performance Comparison
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TYO vs. TTT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
TYO Direxion Daily 7-10 Year Treasury Bear 3X | 3.84% | -7.64% | 18.94% | 1.06% | 58.83% | 7.47% | -28.56% | -18.71% | -1.42% | -8.94% |
TTT UltraPro Short 20+ Year Treasury | 1.05% | -7.89% | 38.07% | -11.25% | 150.17% | 2.55% | -54.12% | -34.88% | 6.34% | -25.87% |
Returns By Period
In the year-to-date period, TYO achieves a 3.84% return, which is significantly higher than TTT's 1.05% return. Over the past 10 years, TYO has outperformed TTT with an annualized return of 1.01%, while TTT has yielded a comparatively lower -2.26% annualized return.
TYO
- 1D
- -0.22%
- 1M
- 8.42%
- YTD
- 3.84%
- 6M
- 5.01%
- 1Y
- 3.53%
- 3Y*
- 8.35%
- 5Y*
- 10.58%
- 10Y*
- 1.01%
TTT
- 1D
- 0.49%
- 1M
- 14.15%
- YTD
- 1.05%
- 6M
- 6.63%
- 1Y
- 7.37%
- 3Y*
- 12.83%
- 5Y*
- 15.07%
- 10Y*
- -2.26%
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TYO vs. TTT - Expense Ratio Comparison
TYO has a 1.08% expense ratio, which is higher than TTT's 0.95% expense ratio.
Return for Risk
TYO vs. TTT — Risk / Return Rank
TYO
TTT
TYO vs. TTT - 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 UltraPro Short 20+ Year Treasury (TTT). 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 | TTT | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.22 | 0.22 | 0.00 |
Sortino ratioReturn per unit of downside risk | 0.43 | 0.57 | -0.15 |
Omega ratioGain probability vs. loss probability | 1.05 | 1.06 | -0.02 |
Calmar ratioReturn relative to maximum drawdown | 0.23 | 0.20 | +0.03 |
Martin ratioReturn relative to average drawdown | 0.38 | 0.34 | +0.04 |
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 | TTT | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.22 | 0.22 | 0.00 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.46 | 0.32 | +0.14 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.05 | -0.05 | +0.10 |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.35 | -0.24 | -0.11 |
Correlation
The correlation between TYO and TTT is 0.88, 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.
Dividends
TYO vs. TTT - Dividend Comparison
TYO's dividend yield for the trailing twelve months is around 2.93%, less than TTT's 9.57% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
TYO Direxion Daily 7-10 Year Treasury Bear 3X | 2.93% | 3.69% | 4.22% | 3.62% | 0.09% | 0.00% | 0.36% | 1.58% | 0.32% |
TTT UltraPro Short 20+ Year Treasury | 9.57% | 9.87% | 4.86% | 12.15% | 0.34% | 0.00% | 0.29% | 1.88% | 0.44% |
Drawdowns
TYO vs. TTT - Drawdown Comparison
The maximum TYO drawdown since its inception was -89.25%, smaller than the maximum TTT drawdown of -94.00%. Use the drawdown chart below to compare losses from any high point for TYO and TTT.
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Drawdown Indicators
| TYO | TTT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -89.25% | -94.00% | +4.75% |
Max Drawdown (1Y)Largest decline over 1 year | -11.86% | -25.97% | +14.11% |
Max Drawdown (5Y)Largest decline over 5 years | -24.40% | -49.69% | +25.29% |
Max Drawdown (10Y)Largest decline over 10 years | -52.21% | -81.76% | +29.55% |
Current DrawdownCurrent decline from peak | -78.07% | -78.81% | +0.74% |
Average DrawdownAverage peak-to-trough decline | -71.03% | -70.26% | -0.77% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 7.10% | 15.07% | -7.97% |
Volatility
TYO vs. TTT - Volatility Comparison
The current volatility for Direxion Daily 7-10 Year Treasury Bear 3X (TYO) is 5.92%, while UltraPro Short 20+ Year Treasury (TTT) has a volatility of 10.81%. This indicates that TYO experiences smaller price fluctuations and is considered to be less risky than TTT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| TYO | TTT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.92% | 10.81% | -4.89% |
Volatility (6M)Calculated over the trailing 6-month period | 9.68% | 19.73% | -10.05% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.40% | 34.37% | -17.97% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 23.19% | 47.26% | -24.07% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.22% | 43.47% | -23.25% |