^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:
0.64
TMV:
0.41
^TNX:
1.08
TMV:
0.88
^TNX:
1.12
TMV:
1.10
^TNX:
0.17
TMV:
0.17
^TNX:
1.29
TMV:
1.01
^TNX:
10.43%
TMV:
16.79%
^TNX:
21.57%
TMV:
41.62%
^TNX:
-96.85%
TMV:
-98.94%
^TNX:
-71.12%
TMV:
-95.94%
Returns By Period
In the year-to-date period, ^TNX achieves a 0.02% return, which is significantly higher than TMV's -1.26% return. Over the past 10 years, ^TNX has outperformed TMV with an annualized return of 9.33%, while TMV has yielded a comparatively lower -3.69% annualized return.
^TNX
0.02%
1.11%
7.90%
11.72%
20.55%
9.33%
TMV
-1.26%
2.35%
14.07%
20.32%
10.16%
-3.69%
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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 -96.85%, roughly equal to the maximum TMV drawdown of -98.94%. 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 4.53%, while Direxion Daily 20-Year Treasury Bear 3X (TMV) has a volatility of 8.78%. 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.