Direxion Daily 20-Year Treasury Bull 3X (TMF)
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%.
ETF Info
| ISIN | US25459W5408 |
|---|---|
| CUSIP | 25459W540 |
| Issuer | Direxion |
| Inception Date | Apr 16, 2009 |
| Region | North America (U.S.) |
| Category | Leveraged Bonds, Leveraged |
| Leveraged | 3x |
| Index Tracked | NYSE 20 Year Plus Treasury Bond Index (300%) |
| ETF Home Page | www.direxion.com |
| Asset Class | Bond |
Expense Ratio
The Direxion Daily 20-Year Treasury Bull 3X has a high expense ratio of 1.09%, indicating higher-than-average management fees.
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.
Compare to other instruments
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.
| Period | Return | Benchmark |
|---|---|---|
| Year-To-Date | -27.40% | 19.67% |
| 1 month | 28.67% | 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
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 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 ratio | Sortino ratio | Omega ratio | Calmar ratio | Ulcer Index | |
|---|---|---|---|---|---|
TMF Direxion Daily 20-Year Treasury Bull 3X | -0.62 | ||||
^GSPC S&P 500 | 0.91 |
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.
| Period | TTM | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 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.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 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.
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, 2020 | 911 | Oct 19, 2023 | — | — | — |
| -53.33% | Jul 26, 2012 | 269 | Aug 21, 2013 | 345 | Jan 5, 2015 | 614 |
| -51.11% | Jul 11, 2016 | 586 | Nov 2, 2018 | 192 | Aug 12, 2019 | 778 |
| -46.24% | Aug 27, 2010 | 116 | Feb 10, 2011 | 125 | Aug 10, 2011 | 241 |
| -44.58% | Apr 21, 2009 | 241 | Apr 5, 2010 | 96 | Aug 19, 2010 | 337 |
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.
Alternatives
| Symbol | Inception | Expense Ratio | YTD Ret. | 10Y Ann. Ret. | Div. Yield | Max. Drawdown | Sharpe Ratio | Sortino ratio | Omega ratio | Calmar ratio | Ulcer Index |
|---|---|---|---|---|---|---|---|---|---|---|---|
| TLT | Jul 26, 2002 | 0.15% | -3.7% | 1.3% | 3.5% | -48.4% | -0.3 |
Portfolios with Direxion Daily 20-Year Treasury Bull 3X
| Portfolio Name | YTD Return | 10Y Return | Div. Yield | 10Y Volatility | Max. Drawdown | Expense Ratio | Sharpe Ratio | Sortino ratio | Omega ratio | Calmar ratio | Ulcer Index |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Stocks/Bonds 40/60 Leveraged Portfolio | 11.27% | 12.17% | 2.42% | 22.06% | -56.78% | 0.65% | -0.04 |