COM vs. TMF

Last updated Jul 17, 2026

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 8.45%/yr vs -33.44%/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

The chart below illustrates the hypothetical performance of a $10,000 investment in Direxion Auspice Broad Commodity Strategy ETF (COM) 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, COM achieves a 15.77% return, which is significantly higher than TMF's -10.00% return.

COM

• 1D: -0.27%
• 1M: 2.86%
• 6M: 11.40%
• YTD: 15.77%
• 1Y: 23.43%
• 3Y*: 7.83%
• 5Y*: 8.45%
• 10Y*: —

TMF

• 1D: -0.03%
• 1M: -6.57%
• 6M: -13.01%
• YTD: -10.00%
• 1Y: -2.84%
• 3Y*: -21.08%
• 5Y*: -33.44%
• 10Y*: -17.81%

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

COM vs. TMF - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
COM Direxion Auspice Broad Commodity Strategy ETF	15.77%	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	-10.00%	-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 -0.20, 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	-0.20
Correlation (3Y) Calculated over the trailing 3-year period	-0.07
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 -0.20 (1 year) to -0.03 (all time), reflecting how their relationship changes across market environments.

Return for Risk

COM vs. TMF — Risk / Return Rank

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

COM

COM Risk / Return Rank: 80
COM Sharpe Ratio Rank: 88
COM Sortino Ratio Rank: 85
COM Omega Ratio Rank: 87
COM Calmar Ratio Rank: 76
COM Martin Ratio Rank: 64

TMF

TMF Risk / Return Rank: 8
TMF Sharpe Ratio Rank: 8
TMF Sortino Ratio Rank: 8
TMF Omega Ratio Rank: 8
TMF Calmar Ratio Rank: 8
TMF Martin Ratio Rank: 8

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.

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 ratio: Return per unit of total volatility	2.28	-0.10	+2.38
Sortino ratio: Return per unit of downside risk	3.07	0.05	+3.02
Omega ratio: Gain probability vs. loss probability	1.43	1.01	+0.42
Calmar ratio: Return relative to maximum drawdown	3.08	-0.11	+3.19
Martin ratio: Return relative to average drawdown	9.07	-0.22	+9.29

COM vs. TMF - Sharpe Ratio Comparison

The current COM Sharpe Ratio is 2.28, which is higher than the TMF Sharpe Ratio of -0.10. The chart below compares the historical Sharpe Ratios of COM 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.

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.

Drawdown Indicators

	COM	TMF	Difference
Max Drawdown Largest peak-to-trough decline	-15.95%	-92.89%	+76.94%
Max Drawdown (1Y) Largest decline over 1 year	-7.63%	-26.51%	+18.88%
Max Drawdown (3Y) Largest decline over 3 years	-8.50%	-55.14%	+46.64%
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 Drawdown Current decline from peak	-3.87%	-92.55%	+88.68%
Average Drawdown Average peak-to-trough decline	-6.28%	-43.94%	+37.66%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.59%	13.06%	-10.47%

Volatility

COM vs. TMF - Volatility Comparison

The current volatility for Direxion Auspice Broad Commodity Strategy ETF (COM) is 2.10%, while Direxion Daily 20+ Year Treasury Bull 3X ETF (TMF) has a volatility of 7.49%. 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.

Volatility by Period

	COM	TMF	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.10%	7.49%	-5.39%
Volatility (6M) Calculated over the trailing 6-month period	8.17%	19.82%	-11.65%
Volatility (1Y) Calculated over the trailing 1-year period	10.33%	27.47%	-17.14%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	9.51%	46.49%	-36.98%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	9.75%	43.70%	-33.95%

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 2.51%, less than TMF's 4.39% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
COM Direxion Auspice Broad Commodity Strategy ETF	2.51%	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	4.39%	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 COM and TMF in my portfolio?

COM and TMF have a correlation of -0.20, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, COM or TMF?

TMF has higher volatility (7.49%) compared to COM (2.10%). In terms of maximum drawdown, COM dropped -15.95% vs TMF's -92.89%.

Which ETF is better, COM or TMF?

On 5-year performance, COM leads with 8.45% vs -33.44% for TMF. On fees, COM is cheaper at 0.70% per year. On volatility, COM has been the lower-risk option at 2.10%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, COM or TMF?

Over the 5-year period, COM has performed better with a 8.45% return vs -33.44%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, COM or TMF?

COM is cheaper with a 0.70% expense ratio, compared with 1.01% for TMF.

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

TMF has the higher dividend yield at 4.39%, compared with 2.51% for COM.

What is the main difference between COM and TMF?

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.

Which has better risk-adjusted returns?

COM currently has the higher Sharpe Ratio (2.28 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.