AMDD vs. TMF
AMDD (Direxion Daily AMD Bear 1X Shares) and TMF (Direxion Daily 20+ Year Treasury Bull 3X ETF) are both exchange-traded funds - AMDD is a Inverse Equities fund actively managed by Direxion, while TMF is a Leveraged Bonds fund tracking the ICE U.S. Treasury 20+ Year Bond Index (300%). AMDD is actively managed, while TMF is passively managed. Over the past year, AMDD returned -85.10% vs 0.90% for TMF. At a correlation of -0.03, they often move in opposite directions. AMDD charges 0.97%/yr vs 1.01%/yr for TMF.
Performance
AMDD vs. TMF - Performance Comparison
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Returns By Period
In the year-to-date period, AMDD achieves a -67.83% return, which is significantly lower than TMF's -6.13% return.
AMDD
- 1D
- -4.47%
- 1M
- -41.37%
- YTD
- -67.83%
- 6M
- -67.43%
- 1Y
- -85.10%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
TMF
- 1D
- -1.14%
- 1M
- 1.22%
- YTD
- -6.13%
- 6M
- -11.63%
- 1Y
- 0.90%
- 3Y*
- -20.78%
- 5Y*
- -30.52%
- 10Y*
- -16.56%
AMDD vs. TMF - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
AMDD Direxion Daily AMD Bear 1X Shares | -67.83% | -60.76% |
TMF Direxion Daily 20+ Year Treasury Bull 3X ETF | -6.13% | -1.89% |
Correlation
The correlation between AMDD and TMF is -0.07, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.07 |
Correlation (All Time) Calculated using the full available price history since Feb 13, 2025 | -0.03 |
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Return for Risk
AMDD vs. TMF — Risk / Return Rank
AMDD
TMF
AMDD vs. TMF - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Direxion Daily AMD Bear 1X Shares (AMDD) and Direxion Daily 20+ Year Treasury Bull 3X ETF (TMF). 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.
| AMDD | TMF | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.34 | ||
| Sortino ratioReturn per unit of downside risk | -3.29 | ||
| Omega ratioGain probability vs. loss probability | 0.61 | 1.03 | -0.41 |
| Calmar ratioReturn relative to maximum drawdown | -1.00 | 0.03 | -1.03 |
| Martin ratioReturn relative to average drawdown | -1.62 | 0.08 | -1.69 |
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
| AMDD | TMF | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -1.31 | 0.03 | -1.34 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | -0.66 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | -0.38 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -1.21 | -0.14 | -1.08 |
Drawdowns
AMDD vs. TMF - Drawdown Comparison
The maximum AMDD drawdown since its inception was -90.88%, roughly equal to the maximum TMF drawdown of -92.89%. Use the drawdown chart below to compare losses from any high point for AMDD and TMF.
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Drawdown Indicators
| AMDD | TMF | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -90.88% | -92.89% | +2.01% |
Max Drawdown (1Y)Largest decline over 1 year | -85.34% | -26.51% | -58.83% |
Max Drawdown (3Y)Largest decline over 3 years | — | -56.31% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -88.81% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -92.89% | — |
Current DrawdownCurrent decline from peak | -90.88% | -92.23% | +1.35% |
Average DrawdownAverage peak-to-trough decline | -56.26% | -43.63% | -12.63% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 52.65% | 11.49% | +41.16% |
Volatility
AMDD vs. TMF - Volatility Comparison
Direxion Daily AMD Bear 1X Shares (AMDD) has a higher volatility of 27.50% compared to Direxion Daily 20+ Year Treasury Bull 3X ETF (TMF) at 8.09%. This indicates that AMDD's price experiences larger fluctuations and is considered to be riskier than TMF based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| AMDD | TMF | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 27.50% | 8.09% | +19.41% |
Volatility (6M)Calculated over the trailing 6-month period | 48.96% | 19.01% | +29.95% |
Volatility (1Y)Calculated over the trailing 1-year period | 64.96% | 28.76% | +36.20% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 65.71% | 46.75% | +18.96% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 65.71% | 43.92% | +21.79% |
AMDD vs. TMF - Expense Ratio Comparison
AMDD has a 0.97% expense ratio, which is lower than TMF's 1.01% expense ratio.
Dividends
AMDD vs. TMF - Dividend Comparison
AMDD's dividend yield for the trailing twelve months is around 18.24%, more than TMF's 4.15% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
AMDD Direxion Daily AMD Bear 1X Shares | 18.24% | 5.51% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
TMF Direxion Daily 20+ Year Treasury Bull 3X ETF | 4.15% | 4.06% | 4.29% | 2.82% | 1.62% | 0.13% | 2.23% | 0.94% | 1.49% | 0.41% |
Frequently Asked Questions
AMDD and TMF have a correlation of -0.07, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
AMDD has higher volatility (27.50%) compared to TMF (8.09%). In terms of maximum drawdown, AMDD dropped -90.88% vs TMF's -92.89%.
On 1-year performance, TMF leads with 0.90% vs -85.10% for AMDD. On fees, AMDD is cheaper at 0.97% per year. On volatility, TMF has been the lower-risk option at 8.09%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, TMF has performed better with a 0.90% return vs -85.10%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
AMDD is cheaper with a 0.97% expense ratio, compared with 1.01% for TMF.
AMDD has the higher dividend yield at 18.24%, compared with 4.15% for TMF.
AMDD is categorized as Inverse Equities, while TMF is Leveraged Bonds. Their fees differ too: 0.97% for AMDD and 1.01% for TMF.
TMF currently has the higher Sharpe Ratio (0.03 vs -1.31), 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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