TLTP vs TYO
Amplify TLT US Treasury 12% Option Income ETF vs Direxion Daily 7-10 Year Treasury Bear 3X ETF
Quick Verdict
TLTP has a lower expense ratio. TYO delivered stronger 1-year returns. TYO offers more diversification with 6 holdings.
Side-by-Side Comparison
| Metric | TLTP | TYO | Winner |
|---|---|---|---|
| Expense Ratio | 0.39% | 1.00% | |
| AUM | $25M | $13M | |
| Dividend Yield | 15.05% | 2.48% | |
| Holdings | 5 | 6 | |
| YTD Return | -8.87% | +11.78% | |
| 1Y Return | -7.14% | +11.29% | |
| 3Y Return (annualized) | - | +3.64% | |
| 5Y Return (annualized) | - | +15.26% | |
| Volatility (annualized) | 8.7% | 19.3% | |
| Max Drawdown | -13.3% | -90.4% | |
| Fund Family | Amplify ETFs | Direxion Shares ETF Trust | |
| Category | Alternative | Alternative | |
| Inception | Oct 29, 2024 | Apr 16, 2009 |
TLTP vs TYO Performance
Amplify TLT US Treasury 12% Option Income ETF (TLTP) is a ETF from Amplify ETFs and Direxion Daily 7-10 Year Treasury Bear 3X ETF (TYO) is a ETF from Direxion Shares ETF Trust. Over the past year TLTP returned -7.14% while TYO returned +11.29%. Year to date, TLTP is down 8.87% versus a gain of 11.78% for TYO.
Risk: Volatility and Drawdowns
TYO has been the more volatile fund, with annualized monthly volatility of 19.3% compared with 8.7% for TLTP. 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 -13.3% for TLTP 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 -0.89. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
TLTP charges 0.39% per year while TYO charges 1.00%. On a $10,000 position that is $39 vs $100 annually, a gap of $61 per year that compounds over a long holding period. On income, TLTP currently yields 15.05% against 2.48% for TYO.
Holdings Overlap
TLTP and TYO share 0 holdings out of 6 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, TLTP or TYO?
TLTP has an expense ratio of 0.39% while TYO charges 1.00%. TLTP is the cheaper option. On a $10,000 investment, that is $61 per year of difference.
Which performed better, TLTP or TYO?
Over the past year TLTP returned -7.14% vs +11.29% for TYO, so TYO leads on 1-year performance. Over the longest common window we track (2 years), TLTP annualized -5.01% vs -7.20% for TYO. Past performance does not guarantee future results.
Which is riskier, TLTP or TYO?
TYO has been the more volatile fund at 19.3% annualized versus 8.7% for TLTP. Worst drawdown: TLTP -13.3% vs TYO -90.4%.
Should I hold both TLTP and TYO?
TLTP and TYO have a monthly-return correlation of -0.89, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between TLTP and TYO?
TLTP and TYO share 0 common holdings with a 0.0% weight overlap. Combined, they hold 6 unique securities.
Which pays a higher dividend, TLTP or TYO?
TLTP yields 15.05% while TYO yields 2.48%, so TLTP currently pays the higher dividend yield.
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