Direxion Daily 7-10 Year Treasury Bear 3X Shares (TYO) Performance
TYO total return
Distributions reinvested · as of Oct 23, 2026- YTD
- +20.0% since Dec 31, 2025
- 1 year
- +25.0% total return
- 5 years
- +15.1% a year
- 10 years
- +3.1% a year
- Since first price
- −6.2% a year since 2009
TYO trailing returns vs SPY, QQQ, AGG
| Period | TYO total return | Price only | S&P 500 (SPY) | Nasdaq-100 (QQQ) | U.S. bonds (AGG) |
|---|---|---|---|---|---|
| 1 month | −2.6% | −2.6% | −1.0% | −5.0% | +0.9% |
| 3 months | +6.3% | +0.5% | +3.2% | +1.9% | −0.4% |
| 6 months | +15.7% | +8.7% | +7.8% | +8.4% | −1.5% |
| YTD | +20.0% | +11.6% | +12.3% | +15.1% | −1.0% |
| 1 year | +25.0% | +15.9% | +14.4% | +15.9% | −1.1% |
| 3 years | +6.8%+2.2%/yr | −8.9% | +87.4%+23.3%/yr | +101.4%+26.3%/yr | +16.6%+5.2%/yr |
| 5 years | +102.0%+15.1%/yr | +67.0% | +79.3%+12.4%/yr | +94.0%+14.2%/yr | −0.8%−0.2%/yr |
| 10 years | +36.2%+3.1%/yr | +10.2% | +315.9%+15.3%/yr | +538.9%+20.4%/yr | +14.0%+1.3%/yr |
| 15 years | −40.4%−3.4%/yr | −51.8% | +696.0%+14.8%/yr | +1,299.3%+19.2%/yr | +32.2%+1.9%/yr |
| Since inceptionApr 16, 2009 | −67.2%−6.2%/yr | −75.7% | — | — | — |
Total return from adjusted closes (distributions reinvested, before tax). Periods of 3 years or more are also shown annualized. Price only excludes distributions.
Growth of $10,000: TYO vs SPY
From Apr 16, 2009: TYO grew to $3,276, SPY to $119,892.
Year-end values with distributions reinvested, no taxes or trading costs. Start: first common trading day of both funds.
TYO returns by calendar year
5 of 16 full years positive. Best 2022 (+58.8%), worst 2011 (−40.3%). 2026 is year to date.
TYO annual returns table
| Year | TYO | Largest drop | SPY | QQQ | AGG |
|---|---|---|---|---|---|
| 2026YTD | +20.0% | −6.7% | +12.3% | +15.1% | −1.0% |
| 2025 | −7.6% | −16.3% | +17.7% | +20.8% | +7.2% |
| 2024 | +18.9% | −20.7% | +24.9% | +25.6% | +1.3% |
| 2023 | +1.1% | −22.9% | +26.2% | +54.9% | +5.7% |
| 2022 | +58.8% | −20.8% | −18.2% | −32.6% | −13.0% |
| 2021 | +7.5% | −15.0% | +28.7% | +27.4% | −1.8% |
| 2020 | −28.6% | −30.2% | +18.3% | +48.6% | +7.5% |
| 2019 | −18.7% | −27.3% | +31.2% | +39.0% | +8.5% |
| 2018 | −1.4% | −13.3% | −4.6% | −0.1% | +0.1% |
| 2017 | −8.9% | −16.0% | +21.7% | +32.7% | +3.6% |
| 2016 | −7.3% | −23.7% | +12.0% | +7.1% | +2.4% |
| 2015 | −11.6% | −16.2% | +1.2% | +9.4% | +0.5% |
| 2014 | −27.3% | −28.2% | +13.5% | +19.2% | +6.0% |
| 2013 | +12.7% | −13.9% | +32.3% | +36.6% | −2.0% |
| 2012 | −16.1% | −24.8% | +16.0% | +18.1% | +3.8% |
| 2011 | −40.3% | −45.2% | +1.9% | +3.4% | +7.7% |
| 2010 | −28.6% | −38.2% | +15.1% | +19.9% | +6.4% |
Largest drop = deepest fall from a high within that calendar year.
Calendar-year return vs largest drop within the year
Most years include a sizable fall at some point even when the year ends higher.
TYO largest drawdowns
Now 74.7% below the high| Peak | Decline | Bottom | Recovered | Fall | Underwater |
|---|---|---|---|---|---|
| Jun 10, 2009 | −89.2% | Aug 4, 2020 | not yet | 11.2 years | 17.4 years so far |
Declines from a closing high (distributions reinvested) of 10% or more. Underwater = time from the peak until the old high was regained.
TYO risk statistics
| Statistic | 3 years | 5 years | 10 years | Since 2009 |
|---|---|---|---|---|
| Annualized return | +6.2% | +17.3% | +4.0% | −6.2% |
| Volatility (annualized) | 19.8% | 22.7% | 19.8% | 19.3% |
| Sharpe ratio | 0.18 | 0.66 | 0.18 | -0.30 |
| Sortino ratio | 0.28 | 1.14 | 0.28 | -0.42 |
| Best month | +12.1% | +14.6% | +14.6% | +16.2% |
| Worst month | −11.2% | −11.2% | −12.2% | −14.0% |
| Best 12 months | +28.8% | +62.8% | +62.8% | +62.8% |
| Worst 12 months | −14.5% | −14.5% | −37.6% | −42.0% |
| Positive months | 50% | 58% | 50% | 46% |
| Beta vs S&P 500 | -0.65 | -0.76 | -0.24 | — |
| Correlation with S&P 500 | -0.41 | -0.52 | -0.18 | — |
From monthly total returns. Sharpe and Sortino use 1–3 month T-bills (BIL) as the risk-free rate, so they need history from 2007 on.
TYO rolling returns
| Holding period | Periods | Worst | Median | Best | Positive |
|---|---|---|---|---|---|
| 1-year | 199 | −42.0% | −5.2% | +62.8% | 42% |
| 3-year (a year) | 175 | −29.0% | −10.3% | +28.0% | 30% |
| 5-year (a year) | 151 | −22.7% | −9.4% | +17.3% | 26% |
| 10-year (a year) | 91 | −18.2% | −5.7% | +4.0% | 11% |
Every holding period starting at a month-end since 2009. Returns for 3 years and longer are annualized.
TYO performance overview
Direxion Daily 7-10 Year Treasury Bear 3X Shares (TYO) returned +25.0% over the past year and +3.1% a year over ten years, with distributions reinvested. Since its first recorded price in 2009 it has returned −6.2% a year, turning $10,000 into about $3,276. Over the same year S&P 500 (SPY) returned +14.4%.
The deepest decline was −89.2%, from Jun 10, 2009 to Aug 4, 2020; the fund has not yet regained that high. TYO finished 5 of its 16 full calendar years with a gain; the best year was 2022 (+58.8%) and the worst 2011 (−40.3%). Volatility has been 19.3% a year.
Related: TYO chart, TYO dividends. See the TYO overview for the latest quote and fund facts.
TYO performance FAQ
What is the TYO return over the past year?
TYO returned +25.0% over the 12 months to October 23, 2026, including reinvested distributions. On price alone it rose 15.9%.
What is the average annual return of TYO?
TYO has returned +15.1% a year over 5 years, +3.1% a year over 10 years, −6.2% a year since April 16, 2009 (total return, distributions reinvested).
How much would $10,000 invested in TYO be worth?
$10,000 invested in TYO at its first recorded close on April 16, 2009 would be worth about $3,276 on October 23, 2026 with distributions reinvested.
What was the worst year for TYO?
The worst calendar year was 2011, with a total return of −40.3%. The best was 2022 at +58.8%.
What is the biggest drawdown of TYO?
The largest peak-to-trough decline was −89.2% between June 10, 2009 and August 4, 2020. It has not yet recovered to that high; it is 74.7% below its peak.
How volatile is TYO?
Over the past 3 years TYO had an annualized volatility of 19.8% and a Sharpe ratio of 0.18 (excess return over 1–3 month T-bills per unit of risk).