^TNX vs. TMV
Compare and contrast key facts about Treasury Yield 10 Years (^TNX) and Direxion Daily 20-Year Treasury Bear 3X (TMV).
TMV is a passively managed fund by Direxion that tracks the performance of the NYSE 20 Year Plus Treasury Bond Index (-300%). It was launched on Apr 16, 2009.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: ^TNX or TMV.
Correlation
The correlation between ^TNX and TMV is 0.89, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Performance
^TNX vs. TMV - Performance Comparison
Key characteristics
^TNX:
0.16
TMV:
0.18
^TNX:
0.39
TMV:
0.56
^TNX:
1.04
TMV:
1.06
^TNX:
0.06
TMV:
0.08
^TNX:
0.32
TMV:
0.44
^TNX:
10.45%
TMV:
17.02%
^TNX:
21.12%
TMV:
40.83%
^TNX:
-93.78%
TMV:
-99.06%
^TNX:
-44.91%
TMV:
-96.61%
Returns By Period
In the year-to-date period, ^TNX achieves a -3.35% return, which is significantly higher than TMV's -7.12% return. Over the past 10 years, ^TNX has outperformed TMV with an annualized return of 8.45%, while TMV has yielded a comparatively lower -5.17% annualized return.
^TNX
-3.35%
-4.70%
16.10%
3.76%
26.36%
8.45%
TMV
-7.12%
-7.15%
29.61%
6.62%
12.28%
-5.17%
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Risk-Adjusted Performance
^TNX vs. TMV — Risk-Adjusted Performance Rank
^TNX
TMV
^TNX vs. TMV - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Treasury Yield 10 Years (^TNX) and Direxion Daily 20-Year Treasury Bear 3X (TMV). 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.
Drawdowns
^TNX vs. TMV - Drawdown Comparison
The maximum ^TNX drawdown since its inception was -93.78%, smaller than the maximum TMV drawdown of -99.06%. Use the drawdown chart below to compare losses from any high point for ^TNX and TMV. For additional features, visit the drawdowns tool.
Volatility
^TNX vs. TMV - Volatility Comparison
The current volatility for Treasury Yield 10 Years (^TNX) is 5.89%, while Direxion Daily 20-Year Treasury Bear 3X (TMV) has a volatility of 11.86%. This indicates that ^TNX experiences smaller price fluctuations and is considered to be less risky than TMV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.