FTCB vs TYO
First Trust Core Investment Grade ETF vs Direxion Daily 7-10 Year Treasury Bear 3X ETF
Quick Verdict
FTCB has a lower expense ratio. TYO delivered stronger 1-year returns. FTCB offers more diversification with 331 holdings.
Side-by-Side Comparison
| Metric | FTCB | TYO | Winner |
|---|---|---|---|
| Expense Ratio | 0.56% | 1.00% | |
| AUM | $2.5B | $12M | |
| Dividend Yield | 5.24% | 2.62% | |
| Holdings | 721 | 6 | |
| YTD Return | +0.12% | +10.84% | |
| 1Y Return | +2.43% | +11.31% | |
| 3Y Return (annualized) | - | +6.14% | |
| 5Y Return (annualized) | - | +14.69% | |
| Volatility (annualized) | 5.1% | 19.3% | |
| Max Drawdown | -5.0% | -90.4% | |
| Fund Family | First Trust Portfolios (US) | Direxion Shares ETF Trust | |
| Category | Fixed Income | Alternative | |
| Inception | Nov 7, 2023 | Apr 16, 2009 |
FTCB vs TYO Performance
First Trust Core Investment Grade ETF (FTCB) is a ETF from First Trust Portfolios (US) and Direxion Daily 7-10 Year Treasury Bear 3X ETF (TYO) is a ETF from Direxion Shares ETF Trust. Over the past year FTCB returned +2.43% while TYO returned +11.31%. Year to date, FTCB is up 0.12% versus a gain of 10.84% for TYO.
Risk: Volatility and Drawdowns
TYO has been the more volatile fund, with annualized monthly volatility of 19.3% compared with 5.1% for FTCB. 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 -5.0% for FTCB 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
FTCB charges 0.56% per year while TYO charges 1.00%. On a $10,000 position that is $56 vs $100 annually, a gap of $44 per year that compounds over a long holding period. On income, FTCB currently yields 5.24% against 2.62% for TYO.
Holdings Overlap
FTCB and TYO share 0 holdings out of 334 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, FTCB or TYO?
FTCB has an expense ratio of 0.56% while TYO charges 1.00%. FTCB is the cheaper option. On a $10,000 investment, that is $44 per year of difference.
Which performed better, FTCB or TYO?
Over the past year FTCB returned +2.43% vs +11.31% for TYO, so TYO leads on 1-year performance. Over the longest common window we track (3 years), FTCB annualized +5.77% vs -7.26% for TYO. Past performance does not guarantee future results.
Which is riskier, FTCB or TYO?
TYO has been the more volatile fund at 19.3% annualized versus 5.1% for FTCB. Worst drawdown: FTCB -5.0% vs TYO -90.4%.
Should I hold both FTCB and TYO?
FTCB 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 FTCB and TYO?
FTCB and TYO share 0 common holdings with a 0.0% weight overlap. Combined, they hold 334 unique securities.
Which pays a higher dividend, FTCB or TYO?
FTCB yields 5.24% while TYO yields 2.62%, so FTCB currently pays the higher dividend yield.
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