ZSL vs. TYD
ZSL (ProShares UltraShort Silver) and TYD (Direxion Daily 7-10 Year Treasury Bull 3X) are both exchange-traded funds - ZSL is a Silver fund tracking the Bloomberg Silver Subindex (-2x), while TYD is a Leveraged Bonds fund tracking the NYSE 7-10 Year Treasury Bond Index. Both are passively managed. Over the past 10 years, ZSL returned -38.38%/yr vs -5.35%/yr for TYD. At a correlation of -0.10, they often move in opposite directions. ZSL charges 1.32%/yr vs 1.09%/yr for TYD.
Performance
ZSL vs. TYD - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, ZSL achieves a -35.96% return, which is significantly lower than TYD's -7.44% return. Over the past 10 years, ZSL has underperformed TYD with an annualized return of -38.38%, while TYD has yielded a comparatively higher -5.35% annualized return.
ZSL
- 1D
- 7.48%
- 1M
- 50.79%
- 6M
- 17.12%
- YTD
- -35.96%
- 1Y
- -85.32%
- 3Y*
- -63.16%
- 5Y*
- -48.77%
- 10Y*
- -38.38%
TYD
- 1D
- -0.30%
- 1M
- -2.72%
- 6M
- -7.62%
- YTD
- -7.44%
- 1Y
- -1.23%
- 3Y*
- -4.61%
- 5Y*
- -14.13%
- 10Y*
- -5.35%
ZSL vs. TYD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
ZSL ProShares UltraShort Silver | -35.96% | -87.29% | -42.43% | -5.49% | -28.09% | -2.04% | -74.44% | -27.76% | 18.15% | -18.99% |
TYD Direxion Daily 7-10 Year Treasury Bull 3X | -7.44% | 11.68% | -13.89% | -2.87% | -43.32% | -11.36% | 27.62% | 17.88% | 0.76% | 5.64% |
Correlation
The correlation between ZSL and TYD is -0.18, 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 | -0.18 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.13 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.20 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.20 |
Correlation (All Time) Calculated using the full available price history since Apr 16, 2009 | -0.10 |
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
ZSL vs. TYD — Risk / Return Rank
ZSL
TYD
ZSL vs. TYD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares UltraShort Silver (ZSL) and Direxion Daily 7-10 Year Treasury Bull 3X (TYD). 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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| ZSL | TYD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.60 | ||
| Sortino ratioReturn per unit of downside risk | -1.46 | ||
| Omega ratioGain probability vs. loss probability | 0.84 | 1.00 | -0.16 |
| Calmar ratioReturn relative to maximum drawdown | -0.91 | -0.09 | -0.82 |
| Martin ratioReturn relative to average drawdown | -1.18 | -0.20 | -0.98 |
Loading charts...
Drawdowns
ZSL vs. TYD - Drawdown Comparison
The maximum ZSL drawdown since its inception was -100.00%, which is greater than TYD's maximum drawdown of -64.28%. Use the drawdown chart below to compare losses from any high point for ZSL and TYD.
Loading charts...
Drawdown Indicators
| ZSL | TYD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -100.00% | -64.28% | -35.72% |
Max Drawdown (1Y)Largest decline over 1 year | -93.81% | -13.54% | -80.27% |
Max Drawdown (3Y)Largest decline over 3 years | -98.40% | -23.96% | -74.44% |
Max Drawdown (5Y)Largest decline over 5 years | -99.06% | -59.84% | -39.22% |
Max Drawdown (10Y)Largest decline over 10 years | -99.82% | -64.28% | -35.54% |
Current DrawdownCurrent decline from peak | -99.99% | -59.77% | -40.22% |
Average DrawdownAverage peak-to-trough decline | -96.39% | -22.19% | -74.20% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 72.29% | 6.09% | +66.20% |
Volatility
ZSL vs. TYD - Volatility Comparison
ProShares UltraShort Silver (ZSL) has a higher volatility of 24.88% compared to Direxion Daily 7-10 Year Treasury Bull 3X (TYD) at 4.31%. This indicates that ZSL's price experiences larger fluctuations and is considered to be riskier than TYD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| ZSL | TYD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 24.88% | 4.31% | +20.57% |
Volatility (6M)Calculated over the trailing 6-month period | 101.84% | 10.33% | +91.51% |
Volatility (1Y)Calculated over the trailing 1-year period | 123.98% | 13.79% | +110.19% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 75.58% | 22.96% | +52.62% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 65.92% | 20.20% | +45.72% |
ZSL vs. TYD - Expense Ratio Comparison
ZSL has a 1.32% expense ratio, which is higher than TYD's 1.09% expense ratio.
Dividends
ZSL vs. TYD - Dividend Comparison
ZSL has not paid dividends to shareholders, while TYD's dividend yield for the trailing twelve months is around 3.33%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
TYD Direxion Daily 7-10 Year Treasury Bull 3X | 3.33% | 2.97% | 3.10% | 2.71% | 0.55% | 0.00% | 9.80% | 0.92% | 1.10% | 0.01% | 6.84% | 1.65% |
ZSL ProShares UltraShort Silver | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
ZSL and TYD have a correlation of -0.18, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
ZSL has higher volatility (24.88%) compared to TYD (4.31%). In terms of maximum drawdown, ZSL dropped -100.00% vs TYD's -64.28%.
On 10-year performance, TYD leads with -5.35% vs -38.38% for ZSL. On fees, TYD is cheaper at 1.09% per year. On volatility, TYD has been the lower-risk option at 4.31%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, TYD has performed better with a -5.35% return vs -38.38%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
TYD is cheaper with a 1.09% expense ratio, compared with 1.32% for ZSL.
TYD has the higher dividend yield at 3.33%, compared with 0.00% for ZSL.
ZSL is categorized as Silver, while TYD is Leveraged Bonds. ZSL tracks Bloomberg Silver Subindex (-2x), while TYD tracks NYSE 7-10 Year Treasury Bond Index. They also come from different issuers: ProShares and Direxion. Their fees differ too: 1.32% for ZSL and 1.09% for TYD.
TYD currently has the higher Sharpe Ratio (-0.09 vs -0.69), 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.
Find the right allocation for ZSL and TYD
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer