DPST vs. TMF
DPST (Direxion Daily Regional Banks Bull 3X Shares) and TMF (Direxion Daily 20+ Year Treasury Bull 3X ETF) are both exchange-traded funds - DPST is a Leveraged Equities fund tracking the Solactive US Regional Banks Total Return Index (300%), 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 10 years, DPST returned -11.17%/yr vs -16.87%/yr for TMF. At a correlation of -0.24, they often move in opposite directions. DPST charges 0.99%/yr vs 1.01%/yr for TMF.
Performance
DPST vs. TMF - Performance Comparison
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Returns By Period
In the year-to-date period, DPST achieves a 31.18% return, which is significantly higher than TMF's -4.67% return. Over the past 10 years, DPST has outperformed TMF with an annualized return of -11.17%, while TMF has yielded a comparatively lower -16.87% annualized return.
DPST
- 1D
- 4.14%
- 1M
- 16.60%
- YTD
- 31.18%
- 6M
- 20.48%
- 1Y
- 66.43%
- 3Y*
- 41.35%
- 5Y*
- -20.53%
- 10Y*
- -11.17%
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%
DPST vs. TMF - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
DPST Direxion Daily Regional Banks Bull 3X Shares | 31.18% | -5.90% | 15.48% | -55.79% | -54.10% | 108.31% | -76.53% | 70.65% | -56.75% | 7.28% |
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% | 22.72% |
Correlation
The correlation between DPST and TMF is 0.15, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.15 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.12 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.02 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.22 |
Correlation (All Time) Calculated using the full available price history since Aug 19, 2015 | -0.24 |
The correlation between DPST and TMF shifts across timeframes, from -0.24 (all time) to 0.15 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
DPST vs. TMF — Risk / Return Rank
DPST
TMF
DPST vs. TMF - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Direxion Daily Regional Banks Bull 3X Shares (DPST) 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.
| DPST | TMF | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.07 | ||
| Sortino ratioReturn per unit of downside risk | +1.54 | ||
| Omega ratioGain probability vs. loss probability | 1.21 | 1.01 | +0.20 |
| Calmar ratioReturn relative to maximum drawdown | 1.65 | -0.11 | +1.76 |
| Martin ratioReturn relative to average drawdown | 3.66 | -0.23 | +3.89 |
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Drawdowns
DPST vs. TMF - Drawdown Comparison
The maximum DPST drawdown since its inception was -97.73%, which is greater than TMF's maximum drawdown of -92.89%. Use the drawdown chart below to compare losses from any high point for DPST and TMF.
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Drawdown Indicators
| DPST | TMF | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -97.73% | -92.89% | -4.84% |
Max Drawdown (1Y)Largest decline over 1 year | -40.44% | -26.51% | -13.93% |
Max Drawdown (3Y)Largest decline over 3 years | -68.38% | -56.09% | -12.29% |
Max Drawdown (5Y)Largest decline over 5 years | -93.99% | -88.81% | -5.18% |
Max Drawdown (10Y)Largest decline over 10 years | -97.73% | -92.89% | -4.84% |
Current DrawdownCurrent decline from peak | -91.97% | -92.11% | +0.14% |
Average DrawdownAverage peak-to-trough decline | -64.25% | -43.76% | -20.49% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 18.22% | 12.26% | +5.96% |
Volatility
DPST vs. TMF - Volatility Comparison
Direxion Daily Regional Banks Bull 3X Shares (DPST) has a higher volatility of 18.76% compared to Direxion Daily 20+ Year Treasury Bull 3X ETF (TMF) at 6.50%. This indicates that DPST'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
| DPST | TMF | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 18.76% | 6.50% | +12.26% |
Volatility (6M)Calculated over the trailing 6-month period | 48.13% | 19.35% | +28.78% |
Volatility (1Y)Calculated over the trailing 1-year period | 69.32% | 27.91% | +41.41% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 88.98% | 46.59% | +42.39% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 94.46% | 43.86% | +50.60% |
DPST vs. TMF - Expense Ratio Comparison
DPST has a 0.99% expense ratio, which is lower than TMF's 1.01% expense ratio.
Dividends
DPST vs. TMF - Dividend Comparison
DPST's dividend yield for the trailing twelve months is around 1.61%, less than TMF's 4.09% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
DPST Direxion Daily Regional Banks Bull 3X Shares | 1.61% | 2.18% | 1.55% | 1.78% | 1.51% | 0.58% | 0.90% | 1.29% | 2.18% | 0.30% |
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
DPST and TMF have a correlation of 0.15, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
DPST has higher volatility (18.76%) compared to TMF (6.50%). In terms of maximum drawdown, DPST dropped -97.73% vs TMF's -92.89%.
On 10-year performance, DPST leads with -11.17% vs -16.87% for TMF. On fees, DPST is cheaper at 0.99% per year. On volatility, TMF has been the lower-risk option at 6.50%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, DPST has performed better with a -11.17% return vs -16.87%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
DPST is cheaper with a 0.99% expense ratio, compared with 1.01% for TMF.
TMF has the higher dividend yield at 4.09%, compared with 1.61% for DPST.
DPST is categorized as Leveraged Equities, while TMF is Leveraged Bonds. DPST tracks Solactive US Regional Banks Total Return Index (300%), while TMF tracks ICE U.S. Treasury 20+ Year Bond Index (300%). Their fees differ too: 0.99% for DPST and 1.01% for TMF.
DPST currently has the higher Sharpe Ratio (0.97 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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