COM vs. TMF
COM (Direxion Auspice Broad Commodity Strategy ETF) and TMF (Direxion Daily 20+ Year Treasury Bull 3X ETF) are both exchange-traded funds - COM is a Commodities fund tracking the Auspice Broad Commodity ER Index, while TMF is a Leveraged Bonds fund tracking the ICE U.S. Treasury 20+ Year Bond Index (300%). Both are passively managed. Over the past 5 years, COM returned 7.89%/yr vs -31.33%/yr for TMF. At a correlation of -0.03, they often move in opposite directions. COM charges 0.70%/yr vs 1.01%/yr for TMF.
Performance
COM vs. TMF - Performance Comparison
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Returns By Period
In the year-to-date period, COM achieves a 11.12% return, which is significantly higher than TMF's -4.67% return.
COM
- 1D
- -1.21%
- 1M
- -5.08%
- YTD
- 11.12%
- 6M
- 10.20%
- 1Y
- 18.87%
- 3Y*
- 6.27%
- 5Y*
- 7.89%
- 10Y*
- —
TMF
- 1D
- -0.62%
- 1M
- 4.96%
- YTD
- -4.67%
- 6M
- -5.95%
- 1Y
- -2.80%
- 3Y*
- -21.07%
- 5Y*
- -31.33%
- 10Y*
- -16.87%
COM vs. TMF - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
COM Direxion Auspice Broad Commodity Strategy ETF | 11.12% | 7.72% | 5.81% | -2.09% | 9.17% | 28.00% | 6.63% | -0.18% | -0.03% | -1.97% |
TMF Direxion Daily 20+ Year Treasury Bull 3X ETF | -4.67% | -2.94% | -35.95% | -13.01% | -72.60% | -19.80% | 39.02% | 34.75% | -11.01% | 16.66% |
Correlation
The correlation between COM and TMF is -0.17, 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 | -0.17 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.05 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.05 |
Correlation (All Time) Calculated using the full available price history since Mar 30, 2017 | -0.03 |
The correlation between COM and TMF shifts across timeframes, from -0.17 (1 year) to -0.03 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
COM vs. TMF — Risk / Return Rank
COM
TMF
COM vs. TMF - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Direxion Auspice Broad Commodity Strategy ETF (COM) 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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| COM | TMF | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.91 | ||
| Sortino ratioReturn per unit of downside risk | +2.39 | ||
| Omega ratioGain probability vs. loss probability | 1.34 | 1.01 | +0.33 |
| Calmar ratioReturn relative to maximum drawdown | 2.45 | -0.11 | +2.55 |
| Martin ratioReturn relative to average drawdown | 8.97 | -0.23 | +9.19 |
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Drawdowns
COM vs. TMF - Drawdown Comparison
The maximum COM drawdown since its inception was -15.95%, smaller than the maximum TMF drawdown of -92.89%. Use the drawdown chart below to compare losses from any high point for COM and TMF.
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Drawdown Indicators
| COM | TMF | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -15.95% | -92.89% | +76.94% |
Max Drawdown (1Y)Largest decline over 1 year | -7.74% | -26.51% | +18.77% |
Max Drawdown (3Y)Largest decline over 3 years | -8.50% | -56.09% | +47.59% |
Max Drawdown (5Y)Largest decline over 5 years | -14.02% | -88.81% | +74.79% |
Max Drawdown (10Y)Largest decline over 10 years | — | -92.89% | — |
Current DrawdownCurrent decline from peak | -7.74% | -92.11% | +84.37% |
Average DrawdownAverage peak-to-trough decline | -6.28% | -43.76% | +37.48% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.12% | 12.26% | -10.14% |
Volatility
COM vs. TMF - Volatility Comparison
The current volatility for Direxion Auspice Broad Commodity Strategy ETF (COM) is 2.26%, while Direxion Daily 20+ Year Treasury Bull 3X ETF (TMF) has a volatility of 6.50%. This indicates that COM experiences smaller price fluctuations and is considered to be less risky 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
| COM | TMF | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.26% | 6.50% | -4.24% |
Volatility (6M)Calculated over the trailing 6-month period | 8.61% | 19.35% | -10.74% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.59% | 27.91% | -17.32% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 9.55% | 46.59% | -37.04% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.77% | 43.86% | -34.09% |
COM vs. TMF - Expense Ratio Comparison
COM has a 0.70% expense ratio, which is lower than TMF's 1.01% expense ratio.
Dividends
COM vs. TMF - Dividend Comparison
COM's dividend yield for the trailing twelve months is around 2.55%, less than TMF's 4.09% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
COM Direxion Auspice Broad Commodity Strategy ETF | 2.55% | 2.99% | 3.88% | 3.80% | 8.59% | 10.32% | 0.13% | 1.09% | 2.36% | 0.09% |
TMF Direxion Daily 20+ Year Treasury Bull 3X ETF | 4.09% | 4.06% | 4.29% | 2.82% | 1.62% | 0.13% | 2.23% | 0.94% | 1.49% | 0.41% |
Frequently Asked Questions
COM and TMF have a correlation of -0.17, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
TMF has higher volatility (6.50%) compared to COM (2.26%). In terms of maximum drawdown, COM dropped -15.95% vs TMF's -92.89%.
On 5-year performance, COM leads with 7.89% vs -31.33% for TMF. On fees, COM is cheaper at 0.70% per year. On volatility, COM has been the lower-risk option at 2.26%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, COM has performed better with a 7.89% return vs -31.33%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
COM is cheaper with a 0.70% expense ratio, compared with 1.01% for TMF.
TMF has the higher dividend yield at 4.09%, compared with 2.55% for COM.
COM is categorized as Commodities, while TMF is Leveraged Bonds. COM tracks Auspice Broad Commodity ER Index, while TMF tracks ICE U.S. Treasury 20+ Year Bond Index (300%). Their fees differ too: 0.70% for COM and 1.01% for TMF.
COM currently has the higher Sharpe Ratio (1.81 vs -0.10), 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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