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 -11.01%/yr vs -18.47%/yr for TMF. Their -0.23 correlation means they have often moved in opposite directions in the past. 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 45.96% return, which is significantly higher than TMF's -16.67% return. Over the past 10 years, DPST has outperformed TMF with an annualized return of -11.01%, while TMF has yielded a comparatively lower -18.47% annualized return.
DPST
- 1D
- 0.85%
- 1M
- 2.62%
- 6M
- 24.97%
- YTD
- 45.96%
- 1Y
- 81.17%
- 3Y*
- 22.15%
- 5Y*
- -14.99%
- 10Y*
- -11.01%
- ALL TIME*
- -12.97%
TMF
- 1D
- -2.08%
- 1M
- -12.05%
- 6M
- -15.79%
- YTD
- -16.67%
- 1Y
- -18.44%
- 3Y*
- -20.63%
- 5Y*
- -34.74%
- 10Y*
- -18.47%
- ALL TIME*
- -6.68%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $35.57M | $38.84M | $44.12M | |
| $161.82M | $130.43M | $127.82M |
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 | 45.96% | -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 | -16.67% | -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 0.16, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.16 |
Correlation (3Y) Balances recent behavior with more history. | 0.12 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.00 |
Correlation (10Y) Provides a long-term view across more market conditions. | -0.22 |
Correlation (All Time) Calculated using the full available price history since Aug 19, 2015 | -0.23 |
The correlation between DPST and TMF shifts across timeframes, from -0.23 (all time) to 0.16 (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 | +1.58 | ||
| Sortino ratioReturn per unit of downside risk | +2.28 | ||
| Omega ratioGain probability vs. loss probability | 1.22 | 0.93 | +0.29 |
| Calmar ratioReturn relative to maximum drawdown | 1.73 | -0.53 | +2.26 |
| Martin ratioReturn relative to average drawdown | 3.92 | -1.07 | +4.99 |
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Drawdowns
DPST vs. TMF - Drawdown Comparison
The maximum DPST drawdown since its inception was -97.73%, roughly equal to the maximum TMF drawdown of -93.10%. 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% | -93.10% | -4.63% |
Max Drawdown (1Y)Largest decline over 1 year | -40.44% | -28.69% | -11.75% |
Max Drawdown (3Y)Largest decline over 3 years | -68.38% | -50.64% | -17.74% |
Max Drawdown (5Y)Largest decline over 5 years | -93.99% | -89.14% | -4.85% |
Max Drawdown (10Y)Largest decline over 10 years | -97.73% | -93.10% | -4.63% |
Current DrawdownCurrent decline from peak | -91.06% | -93.10% | +2.04% |
Average DrawdownAverage peak-to-trough decline | -64.52% | -44.07% | -20.45% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 17.85% | 14.10% | +3.75% |
Volatility
DPST vs. TMF - Volatility Comparison
Direxion Daily Regional Banks Bull 3X Shares (DPST) has a higher volatility of 16.37% compared to Direxion Daily 20+ Year Treasury Bull 3X ETF (TMF) at 7.21%. 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 | 16.37% | 7.21% | +9.16% |
Volatility (6M)Calculated over the trailing 6-month period | 46.05% | 19.98% | +26.07% |
Volatility (1Y)Calculated over the trailing 1-year period | 68.21% | 27.35% | +40.86% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 88.35% | 46.36% | +41.99% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 94.21% | 43.70% | +50.51% |
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 1.50%, less than TMF's 4.74% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
DPST Direxion Daily Regional Banks Bull 3X Shares | 1.50% | 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 | 4.74% | 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 0.16, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
DPST has higher volatility (16.37%) compared to TMF (7.21%). In terms of maximum drawdown, DPST dropped -97.73% vs TMF's -93.10%.
On 10-year performance, DPST leads with -11.01% vs -18.47% for TMF. On fees, DPST is cheaper at 0.99% per year. On volatility, TMF has been the lower-risk option at 7.21%. 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 -11.01% return vs -18.47%. 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 4.74%, compared with 1.50% 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 (1.03 vs -0.55), 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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