DXKLX vs. MMTM
DXKLX (Direxion Monthly 7-10 Year Treasury Bull 1.75X Fund) and MMTM (State Street SPDR S&P 1500 Momentum Tilt ETF) are both funds - DXKLX is a Leveraged Bonds fund managed by Direxion, while MMTM is a Momentum fund tracking the S&P 1500 Positive Momentum Tilt Index. Over the past 10 years, DXKLX returned -3.69%/yr vs 13.93%/yr for MMTM. Their -0.09 correlation means they have often moved in opposite directions in the past. DXKLX charges 1.35%/yr vs 0.12%/yr for MMTM.
Performance
DXKLX vs. MMTM - Performance Comparison
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Returns By Period
In the year-to-date period, DXKLX achieves a -5.90% return, which is significantly lower than MMTM's 3.09% return. Over the past 10 years, DXKLX has underperformed MMTM with an annualized return of -3.69%, while MMTM has yielded a comparatively higher 13.93% annualized return.
DXKLX
- 1D
- 0.00%
- 1M
- -2.37%
- 6M
- -5.04%
- YTD
- -5.90%
- 1Y
- -4.77%
- 3Y*
- -1.82%
- 5Y*
- -8.97%
- 10Y*
- -3.69%
- ALL TIME*
- 2.23%
MMTM
- 1D
- 0.32%
- 1M
- -1.70%
- 6M
- 1.21%
- YTD
- 3.09%
- 1Y
- 12.72%
- 3Y*
- 17.27%
- 5Y*
- 11.41%
- 10Y*
- 13.93%
- ALL TIME*
- 14.00%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $399.23K | $398.88K | $392.43K |
DXKLX vs. MMTM - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
DXKLX Direxion Monthly 7-10 Year Treasury Bull 1.75X Fund | -5.90% | 7.74% | -7.56% | -0.43% | -29.87% | -8.83% | 16.79% | 11.77% | -1.10% | 2.73% |
MMTM State Street SPDR S&P 1500 Momentum Tilt ETF | 3.09% | 13.26% | 29.94% | 22.49% | -16.12% | 26.33% | 19.27% | 29.98% | -4.62% | 24.41% |
Correlation
The correlation between DXKLX and MMTM 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. | 0.11 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.05 |
Correlation (10Y) Provides a long-term view across more market conditions. | -0.07 |
Correlation (All Time) Calculated using the full available price history since Oct 25, 2012 | -0.09 |
The correlation between DXKLX and MMTM shifts across timeframes, from -0.09 (all time) to 0.16 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
DXKLX vs. MMTM — Risk / Return Rank
DXKLX
MMTM
DXKLX vs. MMTM - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Direxion Monthly 7-10 Year Treasury Bull 1.75X Fund (DXKLX) and State Street SPDR S&P 1500 Momentum Tilt ETF (MMTM). 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.
| DXKLX | MMTM | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.05 | ||
| Sortino ratioReturn per unit of downside risk | -1.50 | ||
| Omega ratioGain probability vs. loss probability | 0.95 | 1.13 | -0.18 |
| Calmar ratioReturn relative to maximum drawdown | -0.32 | 1.10 | -1.42 |
| Martin ratioReturn relative to average drawdown | -0.70 | 3.77 | -4.47 |
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Drawdowns
DXKLX vs. MMTM - Drawdown Comparison
The maximum DXKLX drawdown since its inception was -47.64%, which is greater than MMTM's maximum drawdown of -33.85%. Use the drawdown chart below to compare losses from any high point for DXKLX and MMTM.
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Drawdown Indicators
| DXKLX | MMTM | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -47.64% | -33.85% | -13.79% |
Max Drawdown (1Y)Largest decline over 1 year | -8.80% | -9.89% | +1.09% |
Max Drawdown (3Y)Largest decline over 3 years | -13.62% | -22.08% | +8.46% |
Max Drawdown (5Y)Largest decline over 5 years | -42.54% | -23.72% | -18.82% |
Max Drawdown (10Y)Largest decline over 10 years | -47.64% | -33.85% | -13.79% |
Current DrawdownCurrent decline from peak | -43.55% | -6.95% | -36.60% |
Average DrawdownAverage peak-to-trough decline | -15.22% | -4.20% | -11.02% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.97% | 2.89% | +1.08% |
Volatility
DXKLX vs. MMTM - Volatility Comparison
The current volatility for Direxion Monthly 7-10 Year Treasury Bull 1.75X Fund (DXKLX) is 1.80%, while State Street SPDR S&P 1500 Momentum Tilt ETF (MMTM) has a volatility of 5.26%. This indicates that DXKLX experiences smaller price fluctuations and is considered to be less risky than MMTM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| DXKLX | MMTM | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.80% | 5.26% | -3.46% |
Volatility (6M)Calculated over the trailing 6-month period | 6.31% | 11.87% | -5.56% |
Volatility (1Y)Calculated over the trailing 1-year period | 8.13% | 15.49% | -7.36% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.97% | 18.34% | -4.37% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 12.40% | 18.71% | -6.31% |
DXKLX vs. MMTM - Expense Ratio Comparison
DXKLX has a 1.35% expense ratio, which is higher than MMTM's 0.12% expense ratio.
Dividends
DXKLX vs. MMTM - Dividend Comparison
DXKLX's dividend yield for the trailing twelve months is around 1.81%, more than MMTM's 0.90% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
DXKLX Direxion Monthly 7-10 Year Treasury Bull 1.75X Fund | 1.81% | 13.38% | 1.11% | 0.00% | 0.00% | 0.00% | 4.39% | 7.54% | 0.00% | 0.00% | 0.00% | 0.00% |
MMTM State Street SPDR S&P 1500 Momentum Tilt ETF | 0.90% | 0.86% | 0.83% | 1.16% | 1.67% | 0.95% | 1.14% | 1.55% | 1.64% | 1.52% | 1.98% | 1.68% |
Frequently Asked Questions
DXKLX and MMTM 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.
MMTM has higher volatility (5.26%) compared to DXKLX (1.80%). In terms of maximum drawdown, DXKLX dropped -47.64% vs MMTM's -33.85%.
MMTM currently has the higher Sharpe Ratio (0.70 vs -0.34), 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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