AVPT vs. TMF

Last updated Jun 4, 2026

AVPT (AvePoint, Inc.) is a stock, while TMF (Direxion Daily 20-Year Treasury Bull 3X) is Leveraged Bonds fund tracking the NYSE 20 Year Plus Treasury Bond Index (300%). Over the past 3 years, AVPT returned 16.83%/yr vs -20.78%/yr for TMF. At a 0.07 correlation, their price movements are largely independent.

Performance

AVPT vs. TMF - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in AvePoint, Inc. (AVPT) and Direxion Daily 20-Year Treasury Bull 3X (TMF). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, AVPT achieves a -22.97% return, which is significantly lower than TMF's -6.13% return.

AVPT

• 1D: -5.23%
• 1M: 1.61%
• YTD: -22.97%
• 6M: -17.31%
• 1Y: -43.57%
• 3Y*: 16.83%
• 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)

AVPT vs. TMF - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
AVPT AvePoint, Inc.	-22.97%	-15.87%	101.10%	99.76%	-34.66%	-47.36%
TMF Direxion Daily 20-Year Treasury Bull 3X	-6.13%	-2.94%	-35.95%	-13.01%	-72.60%	4.40%

Correlation

The correlation between AVPT and TMF is 0.09, 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	0.09
Correlation (3Y) Calculated over the trailing 3-year period	0.12
Correlation (All Time) Calculated using the full available price history since Jul 6, 2021	0.07

Return for Risk

AVPT vs. TMF — Risk / Return Rank

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

AVPT

AVPT Risk / Return Rank: 8
AVPT Sharpe Ratio Rank: 5
AVPT Sortino Ratio Rank: 8
AVPT Omega Ratio Rank: 8
AVPT Calmar Ratio Rank: 10
AVPT Martin Ratio Rank: 11

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.

AVPT vs. TMF - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for AvePoint, Inc. (AVPT) and Direxion Daily 20-Year Treasury Bull 3X (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.

	AVPT	TMF	Difference
Sharpe ratio: Return per unit of total volatility	-0.96	0.03	-0.99
Sortino ratio: Return per unit of downside risk	-1.26	0.25	-1.51
Omega ratio: Gain probability vs. loss probability	0.83	1.03	-0.20
Calmar ratio: Return relative to maximum drawdown	-0.81	0.03	-0.84
Martin ratio: Return relative to average drawdown	-1.29	0.08	-1.37
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

AVPT vs. TMF - Sharpe Ratio Comparison

The current AVPT Sharpe Ratio is -0.96, which is lower than the TMF Sharpe Ratio of 0.03. The chart below compares the historical Sharpe Ratios of AVPT 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

	AVPT	TMF	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.96	0.03	-0.99
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	-0.05	-0.14	+0.09

Drawdowns

AVPT vs. TMF - Drawdown Comparison

The maximum AVPT drawdown since its inception was -69.96%, smaller than the maximum TMF drawdown of -92.89%. Use the drawdown chart below to compare losses from any high point for AVPT and TMF.

Drawdown Indicators

	AVPT	TMF	Difference
Max Drawdown Largest peak-to-trough decline	-69.96%	-92.89%	+22.93%
Max Drawdown (1Y) Largest decline over 1 year	-54.04%	-26.51%	-27.53%
Max Drawdown (3Y) Largest decline over 3 years	-55.03%	-56.31%	+1.28%
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	-46.47%	-92.23%	+45.76%
Average Drawdown Average peak-to-trough decline	-36.05%	-43.63%	+7.58%
Ulcer Index Depth and duration of drawdowns from previous peaks	33.85%	11.49%	+22.36%

Volatility

AVPT vs. TMF - Volatility Comparison

AvePoint, Inc. (AVPT) has a higher volatility of 19.09% compared to Direxion Daily 20-Year Treasury Bull 3X (TMF) at 8.09%. This indicates that AVPT'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

	AVPT	TMF	Difference
Volatility (1M) Calculated over the trailing 1-month period	19.09%	8.09%	+11.00%
Volatility (6M) Calculated over the trailing 6-month period	32.00%	19.01%	+12.99%
Volatility (1Y) Calculated over the trailing 1-year period	45.50%	28.76%	+16.74%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	46.93%	46.75%	+0.18%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	46.93%	43.92%	+3.01%

Dividends

AVPT vs. TMF - Dividend Comparison

AVPT has not paid dividends to shareholders, while TMF's dividend yield for the trailing twelve months is around 4.15%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
AVPT AvePoint, Inc.	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
TMF Direxion Daily 20-Year Treasury Bull 3X	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 AVPT and TMF in my portfolio?

AVPT and TMF have a correlation of 0.09, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, AVPT or TMF?

AVPT has higher volatility (19.09%) compared to TMF (8.09%). In terms of maximum drawdown, AVPT dropped -69.96% vs TMF's -92.89%.

Which has better risk-adjusted returns?

TMF currently has the higher Sharpe Ratio (0.03 vs -0.96), 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.