# TYD (Direxion Daily 7-10 Year Treasury Bull 3X ETF)

Direxion · Leveraged ETFs · data as of Sep 30, 2026

Three months to Sep 30, 2026: TYD returned −15.0% where its own daily promise gave −12.7%, 2.3 points short.

## Key facts

- TYD, what IEF did: −4.3%, as of Sep 30, 2026.
- TYD, what 3 times a day gives: −12.7%, as of Sep 30, 2026.
- TYD, what the fund returned: −15.0%, as of Sep 30, 2026.
- TYD, the fund itself cost: −2.3 pts, as of Sep 30, 2026.
- TYD, net assets: $26m (issuer page, as of Sep 30, 2026).
- TYD, expense ratio: 1.07% (485BPOS XBRL, Feb 26, 2026).

## TYD over each window to Sep 30, 2026

| Window | Fund | IEF | +3x the move | Difference | IEF moved about |
| --- | --- | --- | --- | --- | --- |
| 1 month | −10.6% | −3.4% | −10.1% | −0.5 pts | 6% |
| 3 months | −15.0% | −4.3% | −13.1% | −2.0 pts | 5% |
| 6 months | −17.3% | −4.4% | −13.3% | −4.0 pts | 5% |
| 1 year | −20.0% | −3.7% | −11.2% | −8.8 pts | 5% |
| 3 years | −10.7% | +8.9% | +26.8% | −37.5 pts | 6% |
| Since launch | +30.9% | +47.1% | +141.4% | −110.5 pts | 7% |

## Every published field

| Field | Value | Source |
| --- | --- | --- |
| Sets out to return | +3 times the daily move of IEF, reset daily | ETFIQ |
| Multiple a holder actually got over the window | IEF moved −4.3% over this window, too little to read a multiple from | ETFIQ |
| Underlying | IEF | ETFIQ |
| Segment | asset class, bond | ETFIQ |
| Net assets | $26m | issuer page, as of Sep 30, 2026 |
| Expense ratio | 1.07% | 485BPOS XBRL, Feb 26, 2026 |
| Launched | Jan 4, 2010 | ETFIQ |
| Underlying volatility over the window | 5% annualized | ETFIQ |

## Questions

### Did TYD return +3 times IEF?

Over the window to Sep 30, 2026, IEF moved −4.3% and TYD returned −15.0%. 3 times that move is −13.1%, so the fund came out 2.0 points short of it.

### Why does TYD not return +3 times over a year?

Because it resets daily. TYD aims at +3 times each day's move, and daily results compound. Over a run where the underlying falls and comes back, compounding a levered daily return leaves a holder behind what +3 times the period move would suggest; over a steady run in one direction it can leave them ahead. The longer the holding, and the more the underlying moves about, the further apart the two figures get.


## Cite this page

ETFIQ, TYD, data as of Sep 30, 2026. https://etfiq.com/funds/tyd
Free to use with attribution; the underlying files are at https://etfiq.com/data/.

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