FLGV vs TYO
Franklin US Treasury Bond ETF vs Direxion Daily 7-10 Year Treasury Bear 3X ETF
Quick Verdict
FLGV has a lower expense ratio. TYO delivered stronger 1-year returns. FLGV offers more diversification with 47 holdings.
Side-by-Side Comparison
| Metric | FLGV | TYO | Winner |
|---|---|---|---|
| Expense Ratio | 0.09% | 1.00% | |
| AUM | $1.0B | $12M | |
| Dividend Yield | 4.11% | 2.62% | |
| Holdings | 47 | 6 | |
| YTD Return | -0.43% | +10.49% | |
| 1Y Return | +1.25% | +10.96% | |
| 3Y Return (annualized) | +3.39% | +4.52% | |
| 5Y Return (annualized) | -0.56% | +14.85% | |
| Volatility (annualized) | 5.0% | 19.3% | |
| Max Drawdown | -18.4% | -90.4% | |
| Fund Family | Franklin Templeton Investments (US) | Direxion Shares ETF Trust | |
| Category | Fixed Income | Alternative | |
| Inception | Jun 9, 2020 | Apr 16, 2009 |
FLGV vs TYO Performance
Franklin US Treasury Bond ETF (FLGV) is a ETF from Franklin Templeton Investments (US) and Direxion Daily 7-10 Year Treasury Bear 3X ETF (TYO) is a ETF from Direxion Shares ETF Trust. Over the past year FLGV returned +1.25% while TYO returned +10.96%. Year to date, FLGV is down 0.43% versus a gain of 10.49% for TYO.
Over three years, FLGV compounded at +3.39% per year against +4.52% for TYO; over five years the annualized figures are -0.56% and +14.85% respectively. Across the full 6-year window we track, FLGV has the edge at -0.90% annualized vs -7.27%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
TYO has been the more volatile fund, with annualized monthly volatility of 19.3% compared with 5.0% for FLGV. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -18.4% for FLGV and -90.4% for TYO. Drawdown depth is worth weighing if you expect to sell during market stress rather than ride it out.
The two funds' monthly returns correlate at -0.97. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
FLGV charges 0.09% per year while TYO charges 1.00%. On a $10,000 position that is $9 vs $100 annually, a gap of $91 per year that compounds over a long holding period. On income, FLGV currently yields 4.11% against 2.62% for TYO.
Holdings Overlap
FLGV and TYO share 0 holdings out of 44 unique holdings combined, representing a 0.0% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, FLGV or TYO?
FLGV has an expense ratio of 0.09% while TYO charges 1.00%. FLGV is the cheaper option. On a $10,000 investment, that is $91 per year of difference.
Which performed better, FLGV or TYO?
Over the past year FLGV returned +1.25% vs +10.96% for TYO, so TYO leads on 1-year performance. Over the longest common window we track (6 years), FLGV annualized -0.90% vs -7.27% for TYO. Past performance does not guarantee future results.
Which is riskier, FLGV or TYO?
TYO has been the more volatile fund at 19.3% annualized versus 5.0% for FLGV. Worst drawdown: FLGV -18.4% vs TYO -90.4%.
Should I hold both FLGV and TYO?
FLGV and TYO have a monthly-return correlation of -0.97, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between FLGV and TYO?
FLGV and TYO share 0 common holdings with a 0.0% weight overlap. Combined, they hold 44 unique securities.
Which pays a higher dividend, FLGV or TYO?
FLGV yields 4.11% while TYO yields 2.62%, so FLGV currently pays the higher dividend yield.
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