{"url":"https://etfiq.com/compare/leverage/tyo-vs-ust","section":"compare","title":"TYO vs UST: which held to its multiple? | ETFIQ","description":"TYO sets out to return -3 times IEF each day and UST +2 times. Over the three months to Sep 30, 2026 they finished +5.4 pts and \u22120.8 pts away.","as_of":"Sep 30, 2026","structured_data":[{"@type":"FAQPage","mainEntity":[{"@type":"Question","name":"Which came closer to its stated multiple, TYO or UST?","acceptedAnswer":{"@type":"Answer","text":"Over the window to Sep 30, 2026, TYO finished 5.4 points from what its multiple implies and UST finished 0.8 points from its own, so UST came closer. Neither figure predicts the next window: it depends on how much the underlying moves about."}},{"@type":"Question","name":"Are TYO and UST levered on the same thing?","acceptedAnswer":{"@type":"Answer","text":"Yes. Both are levered on 10-year Treasuries, TYO at -3 times and UST at +2 times the daily move."}},{"@type":"Question","name":"Which one decays faster, TYO or UST?","acceptedAnswer":{"@type":"Answer","text":"Decay follows how much the underlying moves about. Over this window TYO\u2019s moved at 5% annualized and UST\u2019s at 5%, so TYO has the rougher ride and, at the same multiple, loses more to compounding."}},{"@type":"Question","name":"Can I hold TYO or UST for a year?","acceptedAnswer":{"@type":"Answer","text":"Both reset every day, so the multiple in the name applies to a single day and the daily results compound. Over a year the total is not the multiple times the year\u2019s move, and in a market that falls and comes back it is reliably less. ETFIQ makes no recommendation either way."}},{"@type":"Question","name":"Which is cheaper, TYO or UST?","acceptedAnswer":{"@type":"Answer","text":"TYO charges 1.00% a year and UST charges 0.95%, so UST is cheaper. Fees come from each fund's prospectus."}}]},{"@type":"BreadcrumbList","itemListElement":[{"@type":"ListItem","position":1,"name":"ETFIQ","item":"https://etfiq.com/"},{"@type":"ListItem","position":2,"name":"Leveraged ETFs","item":"https://etfiq.com/leverage/"},{"@type":"ListItem","position":3,"name":"TYO vs UST","item":"https://etfiq.com/compare/leverage/tyo-vs-ust"}]},{"@type":"WebPage","name":"TYO vs UST: which held to its multiple?","description":"TYO sets out to return -3 times IEF each day and UST +2 times. Over the three months to Sep 30, 2026 they finished +5.4 pts and \u22120.8 pts away.","url":"https://etfiq.com/compare/leverage/tyo-vs-ust","dateModified":"2026-09-30","abstract":"Over three months against its own daily promise, TYO finished 4.7 points over and UST 0.9 points short.","publisher":{"@id":"https://etfiq.com/#org"},"isPartOf":{"@id":"https://etfiq.com/#website"},"speakable":{"@type":"SpeakableSpecification","cssSelector":[".verdict",".faq"]}},{"@type":"Dataset","name":"ETFIQ comparison of TYO and UST","description":"TYO sets out to return -3 times IEF each day and UST +2 times. Over the three months to Sep 30, 2026 they finished +5.4 pts and \u22120.8 pts away.","dateModified":"2026-09-30","creator":{"@id":"https://etfiq.com/#org"},"isAccessibleForFree":true,"url":"https://etfiq.com/compare/leverage/tyo-vs-ust","license":"https://etfiq.com/standards/","publisher":{"@id":"https://etfiq.com/#org"},"inLanguage":"en","creativeWorkStatus":"Published","distribution":[{"@type":"DataDownload","encodingFormat":"application/json","contentUrl":"https://etfiq.com/data/leverage.json"}],"variableMeasured":["Stated multiple","Underlying return","What the stated multiple implies","Fund total return","Difference against the label","Volatility of the underlying","Expense ratio"],"keywords":["exchange-traded funds","ETF","Leveraged ETFs","fund data","SEC filings"]}],"characters":7011,"truncated":true,"content":"ETFIQ / Leveraged ETFs / Head to head / TYO vs UST \n ETFIQ etfiq.com \u00b7 independent ETF data \n\n Data as of Sep 30, 2026 .\n\n TYO vs UST: which held to its multiple?\n\n Over three months against its own daily promise, TYO finished 4.7 points over and UST 0.9 points short.\n Copy this for sharing \n \n Direxion Daily 7-10 Year Treasury Bear 3X ETF and ProShares Ultra 7-10 Year Treasury.\n\n Download as PDF \n\n +18.5% TYO returned, 3 months \n \u22129.5% UST returned, 3 months \n +5.4 pts TYO from its stated multiple \n \u22120.8 pts UST from its stated multiple \n\n ETFIQ Decay Resistance Score: TYO scores higher\n Did ","source":"ETFIQ, independent ETF data. Recomputed nightly from public filings and prices.","publisher":{"@id":"https://etfiq.com/#org","name":"ETFIQ","url":"https://etfiq.com"},"license":"https://etfiq.com/license/","citation":"ETFIQ, as of Sep 30, 2026. https://etfiq.com/compare/leverage/tyo-vs-ust","a":{"ticker":"TYO","name":"Direxion Daily 7-10 Year Treasury Bear 3X ETF","issuer":"Direxion","desk":"leverage","as_of":"2026-09-30","verdict":"Three months to Sep 30, 2026: TYO returned +18.5% where its own daily promise gave +13.8%, 4.7 points over.","url":"https://etfiq.com/funds/tyo","key_facts":[{"label":"What IEF did","value":"\u22124.3%","as_of":"2026-09-30","source":null},{"label":"What \u22123 times a day gives","value":"+13.8%","as_of":"2026-09-30","source":null},{"label":"What the fund returned","value":"+18.5%","as_of":"2026-09-30","source":null},{"label":"The fund itself added","value":"+4.7 pts","as_of":"2026-09-30","source":null},{"label":"Net assets","value":"$11m","as_of":"2026-09-30","source":"issuer page, as of Sep 30, 2026"},{"label":"Expense ratio","value":"1.00%","as_of":"2026-09-30","source":"485BPOS XBRL, Feb 26, 2026"}]},"b":{"ticker":"UST","name":"ProShares Ultra 7-10 Year Treasury","issuer":"ProShares","desk":"leverage","as_of":"2026-09-30","verdict":"Three months to Sep 30, 2026: UST returned \u22129.5% where its own daily promise gave \u22128.6%, 0.9 points short.","url":"https://etfiq.com/funds/ust","key_facts":[{"label":"What IEF did","value":"\u22124.3%","as_of":"2026-09-30","source":null},{"label":"What 2 times a day gives","value":"\u22128.6%","as_of":"2026-09-30","source":null},{"label":"What the fund returned","value":"\u22129.5%","as_of":"2026-09-30","source":null},{"label":"The fund itself cost","value":"\u22120.9 pts","as_of":"2026-09-30","source":null},{"label":"Net assets","value":"$15m","as_of":"2026-09-30","source":"issuer page, as of Sep 30, 2026"},{"label":"Expense ratio","value":"0.95%","as_of":"2026-09-30","source":"485BPOS XBRL, Sep 25, 2026"}]},"overlap_pct":null,"overlap_note":"ETFIQ does not publish a holdings overlap for this pair. Either the funds are not compared on holdings, or one book is incomplete.","full_text_at":"https://etfiq.com/compare/leverage/tyo-vs-ust"}