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Direxion Daily 20-Year Treasury Bull 3X (TMF)

ETF · Currency in USD · Last updated Dec 2, 2023

TMF, or the Direxion 20 Year Plus Treasury Bond ETF, is a 3x leveraged exchange-traded fund (ETF) managed by Direxion. It tracks the investment results of the NYSE 20 Year Plus Treasury Bond Index, a multiple-security fixed-income index aimed to measure the performance of long-term U.S. Treasury bonds with maturities of 20 years or more.

As a leveraged product, it may be suitable for investors with a bullish short-term outlook on the U.S. long-term Treasury bond market. However, it is important to note that investing in leveraged debt can be very risky, as numerous factors can significantly impact the returns of these products. As such, TMF may not be suitable for investors with a low-risk tolerance or a buy-and-hold investment strategy.

TMF was launched on April 16, 2009, with an expense ratio of 1.09%.

Summary

ETF Info

ISINUS25459W5408
CUSIP25459W540
IssuerDirexion
Inception DateApr 16, 2009
RegionNorth America (U.S.)
CategoryLeveraged Bonds, Leveraged
Leveraged3x
Index TrackedNYSE 20 Year Plus Treasury Bond Index (300%)
ETF Home Pagewww.direxion.com
Asset ClassBond

Expense Ratio

The Direxion Daily 20-Year Treasury Bull 3X has a high expense ratio of 1.09%, indicating higher-than-average management fees.


1.09%
0.00%2.15%

Share Price Chart


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Performance

The chart shows the growth of an initial investment of $10,000 in Direxion Daily 20-Year Treasury Bull 3X, comparing it to the performance of the S&P 500 index or another benchmark. All prices have been adjusted for splits and dividends.


-100.00%0.00%100.00%200.00%300.00%400.00%JulyAugustSeptemberOctoberNovemberDecember
-50.97%
430.99%
TMF (Direxion Daily 20-Year Treasury Bull 3X)
Benchmark (^GSPC)

S&P 500

Compare to other instruments

Search for stocks, ETFs, and funds to compare with TMF

Direxion Daily 20-Year Treasury Bull 3X

Popular comparisons: TMF vs. TLT, TMF vs. TQQQ, TMF vs. UPRO, TMF vs. TMV, TMF vs. EDV, TMF vs. TTT, TMF vs. ^TNX, TMF vs. VGLT, TMF vs. AGG, TMF vs. SPY

Return

Direxion Daily 20-Year Treasury Bull 3X had a return of -27.40% year-to-date (YTD) and -40.08% in the last 12 months. Over the past 10 years, Direxion Daily 20-Year Treasury Bull 3X had an annualized return of -6.39%, while the S&P 500 had an annualized return of 9.87%, indicating that Direxion Daily 20-Year Treasury Bull 3X did not perform as well as the benchmark.


PeriodReturnBenchmark
Year-To-Date-27.40%19.67%
1 month28.67%8.42%
6 months-28.90%7.29%
1 year-40.08%12.71%
5 years (annualized)-18.85%10.75%
10 years (annualized)-6.39%9.87%

Monthly Returns Heatmap


JanFebMarAprMayJunJulAugSepOctNovDec
2023-10.51%-0.92%-8.72%-10.95%-23.31%-17.43%29.40%

Risk-Adjusted Performance

This table presents a comparison of risk-adjusted performance metrics for Direxion Daily 20-Year Treasury Bull 3X (TMF) and S&P 500 (^GSPC). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.


Sharpe ratioSortino ratioOmega ratioCalmar ratioUlcer Index
TMF
Direxion Daily 20-Year Treasury Bull 3X
-0.62
^GSPC
S&P 500
0.91

Sharpe Ratio

The current Direxion Daily 20-Year Treasury Bull 3X Sharpe ratio is -0.62. A negative Sharpe ratio means that the risk-free rate is higher than the portfolio's return. This value does not convey any meaningful information.


Rolling 12-month Sharpe Ratio-1.00-0.500.000.501.00JulyAugustSeptemberOctoberNovemberDecember
-0.62
0.91
TMF (Direxion Daily 20-Year Treasury Bull 3X)
Benchmark (^GSPC)

Dividend History

Direxion Daily 20-Year Treasury Bull 3X granted a 3.31% dividend yield in the last twelve months. The annual payout for that period amounted to $0.18 per share.


PeriodTTM20222021202020192018201720162015201420132012
Dividend$0.18$0.12$0.04$1.47$0.24$0.29$0.09$0.00$0.00$0.00$0.06$0.03

Dividend yield

3.31%1.62%0.13%4.19%0.94%1.49%0.41%0.00%0.00%0.00%0.57%0.17%

Monthly Dividends

The table displays the monthly dividend distributions for Direxion Daily 20-Year Treasury Bull 3X. The dividends shown in the table have been adjusted to account for any splits that may have occurred.


JanFebMarAprMayJunJulAugSepOctNovDec
2023$0.00$0.00$0.03$0.00$0.00$0.05$0.00$0.00$0.05$0.00$0.00
2022$0.00$0.00$0.02$0.00$0.00$0.03$0.00$0.00$0.04$0.00$0.00$0.05
2021$0.00$0.00$0.02$0.00$0.00$0.01$0.00$0.00$0.01$0.00$0.00$0.00
2020$0.00$0.00$0.10$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$1.37
2019$0.00$0.00$0.07$0.00$0.00$0.07$0.00$0.00$0.06$0.00$0.00$0.05
2018$0.00$0.00$0.03$0.00$0.00$0.10$0.00$0.00$0.06$0.00$0.00$0.10
2017$0.00$0.00$0.00$0.00$0.00$0.02$0.00$0.00$0.00$0.00$0.00$0.07
2016$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00
2015$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00
2014$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00
2013$0.00$0.00$0.01$0.00$0.00$0.03$0.00$0.00$0.02$0.00$0.00$0.00
2012$0.01$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.02

Drawdowns Chart

The Drawdowns chart displays portfolio losses from any high point along the way.


-100.00%-80.00%-60.00%-40.00%-20.00%0.00%JulyAugustSeptemberOctoberNovemberDecember
-88.89%
-4.21%
TMF (Direxion Daily 20-Year Treasury Bull 3X)
Benchmark (^GSPC)

Worst Drawdowns

The table below displays the maximum drawdowns of the Direxion Daily 20-Year Treasury Bull 3X. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.

The maximum drawdown for the Direxion Daily 20-Year Treasury Bull 3X was 92.04%, occurring on Oct 19, 2023. The portfolio has not yet recovered.


Depth

Start

To Bottom

Bottom

To Recover

End

Total

-92.04%Mar 10, 2020911Oct 19, 2023
-53.33%Jul 26, 2012269Aug 21, 2013345Jan 5, 2015614
-51.11%Jul 11, 2016586Nov 2, 2018192Aug 12, 2019778
-46.24%Aug 27, 2010116Feb 10, 2011125Aug 10, 2011241
-44.58%Apr 21, 2009241Apr 5, 201096Aug 19, 2010337

Volatility Chart

The current Direxion Daily 20-Year Treasury Bull 3X volatility is 16.90%, representing the average percentage change in the investments's value, either up or down over the past month. The chart below shows the rolling one-month volatility.


5.00%10.00%15.00%20.00%JulyAugustSeptemberOctoberNovemberDecember
16.90%
2.79%
TMF (Direxion Daily 20-Year Treasury Bull 3X)
Benchmark (^GSPC)

Alternatives


SymbolInceptionExpense RatioYTD Ret.10Y Ann. Ret.Div. YieldMax. DrawdownSharpe RatioSortino ratioOmega ratioCalmar ratioUlcer Index
TLTJul 26, 20020.15%-3.7%1.3%3.5%-48.4%-0.3

Portfolios with Direxion Daily 20-Year Treasury Bull 3X


Portfolio NameYTD Return10Y ReturnDiv. Yield10Y VolatilityMax. DrawdownExpense RatioSharpe RatioSortino ratioOmega ratioCalmar ratioUlcer Index
Stocks/Bonds 40/60 Leveraged Portfolio11.27%12.17%2.42%22.06%-56.78%0.65%-0.04