AGGA vs. TMV
AGGA (Astoria Dynamic Core US Fixed Income ETF) and TMV (Direxion Daily 20-Year Treasury Bear 3X) are both exchange-traded funds - AGGA is a Multisector Bonds fund actively managed by Astoria, while TMV is a Leveraged Bonds fund tracking the NYSE 20 Year Plus Treasury Bond Index (-300%). AGGA is actively managed, while TMV is passively managed. Over the past year, AGGA returned 4.85% vs -4.33% for TMV. At a correlation of -0.82, they often move in opposite directions. AGGA charges 0.55%/yr vs 1.04%/yr for TMV.
Performance
AGGA vs. TMV - Performance Comparison
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Returns By Period
In the year-to-date period, AGGA achieves a 0.77% return, which is significantly lower than TMV's 4.73% return.
AGGA
- 1D
- -0.14%
- 1M
- 0.26%
- YTD
- 0.77%
- 6M
- 0.81%
- 1Y
- 4.85%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
TMV
- 1D
- 1.13%
- 1M
- -1.68%
- YTD
- 4.73%
- 6M
- 11.42%
- 1Y
- -4.33%
- 3Y*
- 12.83%
- 5Y*
- 19.12%
- 10Y*
- -0.80%
AGGA vs. TMV - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
AGGA Astoria Dynamic Core US Fixed Income ETF | 0.77% | 4.36% |
TMV Direxion Daily 20-Year Treasury Bear 3X | 4.73% | 3.20% |
Correlation
The correlation between AGGA and TMV is -0.81, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.81 |
Correlation (All Time) Calculated using the full available price history since May 2, 2025 | -0.82 |
The correlation between AGGA and TMV has been stable across timeframes, ranging from -0.82 to -0.81 - a consistent structural relationship.
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Return for Risk
AGGA vs. TMV — Risk / Return Rank
AGGA
TMV
AGGA vs. TMV - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Astoria Dynamic Core US Fixed Income ETF (AGGA) 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.
| AGGA | TMV | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.43 | ||
| Sortino ratioReturn per unit of downside risk | +3.49 | ||
| Omega ratioGain probability vs. loss probability | 1.44 | 1.00 | +0.45 |
| Calmar ratioReturn relative to maximum drawdown | 3.32 | -0.20 | +3.52 |
| Martin ratioReturn relative to average drawdown | 13.36 | -0.40 | +13.75 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| AGGA | TMV | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.28 | -0.15 | +2.43 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.41 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | -0.02 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 2.17 | -0.33 | +2.50 |
Drawdowns
AGGA vs. TMV - Drawdown Comparison
The maximum AGGA drawdown since its inception was -1.47%, smaller than the maximum TMV drawdown of -98.96%. Use the drawdown chart below to compare losses from any high point for AGGA and TMV.
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Drawdown Indicators
| AGGA | TMV | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -1.47% | -98.96% | +97.49% |
Max Drawdown (1Y)Largest decline over 1 year | -1.47% | -21.62% | +20.15% |
Max Drawdown (3Y)Largest decline over 3 years | — | -48.49% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -48.49% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -82.31% | — |
Current DrawdownCurrent decline from peak | -0.25% | -95.94% | +95.69% |
Average DrawdownAverage peak-to-trough decline | -0.22% | -86.60% | +86.38% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.36% | 11.13% | -10.77% |
Volatility
AGGA vs. TMV - Volatility Comparison
The current volatility for Astoria Dynamic Core US Fixed Income ETF (AGGA) is 0.72%, while Direxion Daily 20-Year Treasury Bear 3X (TMV) has a volatility of 8.15%. This indicates that AGGA 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.
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Volatility by Period
| AGGA | TMV | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.72% | 8.15% | -7.43% |
Volatility (6M)Calculated over the trailing 6-month period | 1.57% | 19.18% | -17.61% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.13% | 29.12% | -26.99% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.20% | 47.21% | -45.01% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 2.20% | 44.44% | -42.24% |
AGGA vs. TMV - Expense Ratio Comparison
AGGA has a 0.55% expense ratio, which is lower than TMV's 1.04% expense ratio.
Dividends
AGGA vs. TMV - Dividend Comparison
AGGA's dividend yield for the trailing twelve months is around 4.26%, more than TMV's 2.62% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
AGGA Astoria Dynamic Core US Fixed Income ETF | 4.26% | 2.81% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
TMV Direxion Daily 20-Year Treasury Bear 3X | 2.62% | 2.85% | 3.41% | 3.87% | 0.00% | 0.00% | 0.37% | 1.60% | 0.62% |
Frequently Asked Questions
AGGA and TMV have a correlation of -0.81, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
TMV has higher volatility (8.15%) compared to AGGA (0.72%). In terms of maximum drawdown, AGGA dropped -1.47% vs TMV's -98.96%.
On 1-year performance, AGGA leads with 4.85% vs -4.33% for TMV. On fees, AGGA is cheaper at 0.55% per year. On volatility, AGGA has been the lower-risk option at 0.72%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, AGGA has performed better with a 4.85% return vs -4.33%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
AGGA is cheaper with a 0.55% expense ratio, compared with 1.04% for TMV.
AGGA has the higher dividend yield at 4.26%, compared with 2.62% for TMV.
AGGA is categorized as Multisector Bonds, while TMV is Leveraged Bonds. They also come from different issuers: Astoria and Direxion. Their fees differ too: 0.55% for AGGA and 1.04% for TMV.
AGGA currently has the higher Sharpe Ratio (2.28 vs -0.15), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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