AMUU vs. TMF

Last updated Jun 4, 2026

AMUU (Direxion Daily AMD Bull 2X Shares) and TMF (Direxion Daily 20+ Year Treasury Bull 3X ETF) are both exchange-traded funds - AMUU is a Leveraged Equities fund actively managed by Direxion, while TMF is a Leveraged Bonds fund tracking the ICE U.S. Treasury 20+ Year Bond Index (300%). AMUU is actively managed, while TMF is passively managed. Over the past year, AMUU returned 1186.28% vs 0.90% for TMF. At a 0.03 correlation, their price movements are largely independent. AMUU charges 0.97%/yr vs 1.01%/yr for TMF.

Performance

AMUU vs. TMF - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Direxion Daily AMD Bull 2X Shares (AMUU) and Direxion Daily 20+ Year Treasury Bull 3X ETF (TMF). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, AMUU achieves a 393.28% return, which is significantly higher than TMF's -6.13% return.

AMUU

• 1D: 7.59%
• 1M: 134.67%
• YTD: 393.28%
• 6M: 368.74%
• 1Y: 1,186.28%
• 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%

*Multi-year figures are annualized to reflect compound growth (CAGR)

AMUU vs. TMF - Yearly Performance Comparison

	2026 (YTD)	2025
AMUU Direxion Daily AMD Bull 2X Shares	393.28%	145.24%
TMF Direxion Daily 20+ Year Treasury Bull 3X ETF	-6.13%	-1.89%

Correlation

The correlation between AMUU 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

AMUU vs. TMF - Sectors Allocation Comparison

Sectors	AMUU	TMF
Technology	100.0%	-
Basic Materials	-	-
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Energy	-	-
Financial Services	-	18.7%
Healthcare	-	-
Industrials	-	-
Real Estate	-	-
Utilities	-	-

Return for Risk

AMUU vs. TMF — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

AMUU

AMUU Risk / Return Rank: 96
AMUU Sharpe Ratio Rank: 99
AMUU Sortino Ratio Rank: 93
AMUU Omega Ratio Rank: 92
AMUU Calmar Ratio Rank: 99
AMUU Martin Ratio Rank: 97

TMF

TMF Risk / Return Rank: 9
TMF Sharpe Ratio Rank: 9
TMF Sortino Ratio Rank: 9
TMF Omega Ratio Rank: 9
TMF Calmar Ratio Rank: 9
TMF Martin Ratio Rank: 9

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

AMUU vs. TMF - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Direxion Daily AMD Bull 2X Shares (AMUU) 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.

	AMUU	TMF	Difference
Sharpe ratio: Return per unit of total volatility	9.25	0.03	+9.22
Sortino ratio: Return per unit of downside risk	4.79	0.25	+4.54
Omega ratio: Gain probability vs. loss probability	1.63	1.03	+0.60
Calmar ratio: Return relative to maximum drawdown	21.30	0.03	+21.27
Martin ratio: Return relative to average drawdown	41.74	0.08	+41.67
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

AMUU vs. TMF - Sharpe Ratio Comparison

The current AMUU Sharpe Ratio is 9.25, which is higher than the TMF Sharpe Ratio of 0.03. The chart below compares the historical Sharpe Ratios of AMUU and TMF, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	AMUU	TMF	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	9.25	0.03	+9.22
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	4.45	-0.14	+4.58

Drawdowns

AMUU vs. TMF - Drawdown Comparison

The maximum AMUU drawdown since its inception was -56.47%, smaller than the maximum TMF drawdown of -92.89%. Use the drawdown chart below to compare losses from any high point for AMUU and TMF.

Drawdown Indicators

	AMUU	TMF	Difference
Max Drawdown Largest peak-to-trough decline	-56.47%	-92.89%	+36.42%
Max Drawdown (1Y) Largest decline over 1 year	-56.31%	-26.51%	-29.80%
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 Drawdown Current decline from peak	0.00%	-92.23%	+92.23%
Average Drawdown Average peak-to-trough decline	-22.84%	-43.63%	+20.79%
Ulcer Index Depth and duration of drawdowns from previous peaks	28.68%	11.49%	+17.19%

Volatility

AMUU vs. TMF - Volatility Comparison

Direxion Daily AMD Bull 2X Shares (AMUU) has a higher volatility of 45.72% compared to Direxion Daily 20+ Year Treasury Bull 3X ETF (TMF) at 8.09%. This indicates that AMUU'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.

Volatility by Period

	AMUU	TMF	Difference
Volatility (1M) Calculated over the trailing 1-month period	45.72%	8.09%	+37.63%
Volatility (6M) Calculated over the trailing 6-month period	94.24%	19.01%	+75.23%
Volatility (1Y) Calculated over the trailing 1-year period	129.66%	28.76%	+100.90%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	131.28%	46.75%	+84.53%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	131.28%	43.92%	+87.36%

AMUU vs. TMF - Expense Ratio Comparison

AMUU has a 0.97% expense ratio, which is lower than TMF's 1.01% expense ratio.

Dividends

AMUU vs. TMF - Dividend Comparison

AMUU's dividend yield for the trailing twelve months is around 2.83%, less than TMF's 4.15% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
AMUU Direxion Daily AMD Bull 2X Shares	2.83%	13.58%	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

Can I hold both AMUU and TMF in my portfolio?

AMUU 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.

Which is riskier, AMUU or TMF?

AMUU has higher volatility (45.72%) compared to TMF (8.09%). In terms of maximum drawdown, AMUU dropped -56.47% vs TMF's -92.89%.

Which ETF is better, AMUU or TMF?

On 1-year performance, AMUU leads with 1186.28% vs 0.90% for TMF. On fees, AMUU 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.

Which ETF has performed better, AMUU or TMF?

Over the 1-year period, AMUU has performed better with a 1186.28% return vs 0.90%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, AMUU or TMF?

AMUU is cheaper with a 0.97% expense ratio, compared with 1.01% for TMF.

Which ETF pays a higher dividend yield, AMUU or TMF?

TMF has the higher dividend yield at 4.15%, compared with 2.83% for AMUU.

What is the main difference between AMUU and TMF?

AMUU is categorized as Leveraged Equities, while TMF is Leveraged Bonds. Their fees differ too: 0.97% for AMUU and 1.01% for TMF.

Which has better risk-adjusted returns?

AMUU currently has the higher Sharpe Ratio (9.25 vs 0.03), 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.