FTKI vs TYO
First Trust Small Cap BuyWrite Income ETF vs Direxion Daily 7-10 Year Treasury Bear 3X ETF
Quick Verdict
FTKI has a lower expense ratio. FTKI delivered stronger 1-year returns. FTKI offers more diversification with 144 holdings.
Side-by-Side Comparison
| Metric | FTKI | TYO | Winner |
|---|---|---|---|
| Expense Ratio | 0.85% | 1.00% | |
| AUM | $25M | $12M | |
| Dividend Yield | 12.53% | 2.62% | |
| Holdings | 170 | 6 | |
| YTD Return | +13.43% | +11.63% | |
| 1Y Return | +20.96% | +10.94% | |
| 3Y Return (annualized) | - | +4.88% | |
| 5Y Return (annualized) | - | +14.70% | |
| Volatility (annualized) | 10.3% | 19.3% | |
| Max Drawdown | -15.2% | -90.4% | |
| Fund Family | First Trust Portfolios (US) | Direxion Shares ETF Trust | |
| Category | Equity | Alternative | |
| Inception | Feb 26, 2025 | Apr 16, 2009 |
FTKI vs TYO Performance
First Trust Small Cap BuyWrite Income ETF (FTKI) 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 FTKI returned +20.96% while TYO returned +10.94%. Year to date, FTKI is up 13.43% versus a gain of 11.63% for TYO.
Risk: Volatility and Drawdowns
TYO has been the more volatile fund, with annualized monthly volatility of 19.3% compared with 10.3% for FTKI. 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 -15.2% for FTKI 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 -0.42. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
FTKI charges 0.85% per year while TYO charges 1.00%. On a $10,000 position that is $85 vs $100 annually, a gap of $15 per year that compounds over a long holding period. On income, FTKI currently yields 12.53% against 2.62% for TYO.
Holdings Overlap
FTKI and TYO share 0 holdings out of 147 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, FTKI or TYO?
FTKI has an expense ratio of 0.85% while TYO charges 1.00%. FTKI is the cheaper option. On a $10,000 investment, that is $15 per year of difference.
Which performed better, FTKI or TYO?
Over the past year FTKI returned +20.96% vs +10.94% for TYO, so FTKI leads on 1-year performance. Over the longest common window we track (2 years), FTKI annualized +12.86% vs -7.21% for TYO. Past performance does not guarantee future results.
Which is riskier, FTKI or TYO?
TYO has been the more volatile fund at 19.3% annualized versus 10.3% for FTKI. Worst drawdown: FTKI -15.2% vs TYO -90.4%.
Should I hold both FTKI and TYO?
FTKI and TYO have a monthly-return correlation of -0.42, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between FTKI and TYO?
FTKI and TYO share 0 common holdings with a 0.0% weight overlap. Combined, they hold 147 unique securities.
Which pays a higher dividend, FTKI or TYO?
FTKI yields 12.53% while TYO yields 2.62%, so FTKI currently pays the higher dividend yield.
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