What this ETF is trying to do

The Direxion Daily 7-10 Year Treasury Bear 3X Shares (TYO) is a specialized fund. It is both "leveraged" and "inverse." This means it is designed to move in the opposite direction of 7-10 year Treasury bonds, and it aims to multiply those moves by three. Essentially, it is built for investors who believe the price of these specific government bonds will go down.

What the numbers show

As of October 6, 2026, the share price is $15.66.

There are two ways to look at the returns:

• Price Return: This measures only the change in the share price. The one-year price return is 18.56%, and the year-to-date (YTD) price return is 18.01%. Over three years, the price return was -2.61%.

• Total Return: This reflects the overall return, including distributions. The one-year total return is 27.91%, and the YTD total return is 26.86%. The three-year total return is 14.27%.

For a simple example, if you had invested $10,000 based on the estimated price from roughly one year ago ($13.21), the price-only growth (18.56%) would have increased that amount to approximately $11,856.

Income and distribution explanation

TYO pays out cash to investors. It usually does this quarterly. The distribution yield is 7.18%.

It is important for beginners to know that a high distribution yield alone can be misleading. While these payments provide cash income, they do not guarantee that the original money you invested (the principal) is safe.

NAV Erosion Explanation

"NAV erosion" happens when the value of the fund's underlying assets steadily declines over time. StockValueFinder uses an erosion-risk score to track this.

For TYO, the erosion score is 100, and the erosion severity is labeled as "good." The data shows "No price erosion detected," and the severe erosion-risk flag is false.

Top Holdings

As of October 7, 2026, the fund has one holding:

• Goldman Sachs FS Treasury Intms Instl (FTIXX): 18.15%

Pros

• The fund has shown positive total returns over the last year and three years.

• It provides a distribution yield of 7.18%.

• No price erosion was detected by the risk screening tools.

Cons

• The three-year price return is negative (-2.61%), meaning the share price alone declined over that period.

• Because it is a 3X leveraged inverse fund, it is a complex tool and not a traditional "buy and hold" investment.

Beginner takeaway

TYO is a high-risk tool used to bet against government bonds. While it has provided both cash distributions and positive total returns recently, the difference between its price return and total return shows how much the distributions contributed to the overall result. Always remember that high yields do not always mean the investment is stable.