GOOX vs. TMV

Last updated Jun 25, 2026

GOOX (T-Rex 2X Long Alphabet Daily Target ETF) and TMV (Direxion Daily 20-Year Treasury Bear 3X) are both Leveraged Bonds funds. GOOX is actively managed, while TMV is passively managed. Over the past year, GOOX returned 249.43% vs -2.95% for TMV. At a correlation of -0.04, they often move in opposite directions. GOOX charges 1.05%/yr vs 1.04%/yr for TMV.

Performance

GOOX vs. TMV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in T-Rex 2X Long Alphabet Daily Target ETF (GOOX) and Direxion Daily 20-Year Treasury Bear 3X (TMV). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, GOOX achieves a 9.99% return, which is significantly higher than TMV's -1.98% return.

GOOX

• 1D: -0.62%
• 1M: -18.71%
• YTD: 9.99%
• 6M: 8.48%
• 1Y: 249.43%
• 3Y*: —
• 5Y*: —
• 10Y*: —

TMV

• 1D: -3.99%
• 1M: -9.42%
• YTD: -1.98%
• 6M: 1.12%
• 1Y: -2.95%
• 3Y*: 11.62%
• 5Y*: 18.85%
• 10Y*: -0.80%

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

GOOX vs. TMV - Yearly Performance Comparison

	2026 (YTD)	2025	2024
GOOX T-Rex 2X Long Alphabet Daily Target ETF	9.99%	121.41%	44.31%
TMV Direxion Daily 20-Year Treasury Bear 3X	-1.98%	-3.75%	28.40%

Correlation

The correlation between GOOX and TMV is -0.16, 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	-0.16
Correlation (All Time) Calculated using the full available price history since Jan 11, 2024	-0.04

The correlation between GOOX and TMV shifts across timeframes, from -0.16 (1 year) to -0.04 (all time), reflecting how their relationship changes across market environments.

Return for Risk

GOOX vs. TMV — Risk / Return Rank

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

GOOX

GOOX Risk / Return Rank: 94
GOOX Sharpe Ratio Rank: 97
GOOX Sortino Ratio Rank: 95
GOOX Omega Ratio Rank: 92
GOOX Calmar Ratio Rank: 94
GOOX Martin Ratio Rank: 92

TMV

TMV Risk / Return Rank: 8
TMV Sharpe Ratio Rank: 8
TMV Sortino Ratio Rank: 8
TMV Omega Ratio Rank: 8
TMV Calmar Ratio Rank: 8
TMV 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.

GOOX vs. TMV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for T-Rex 2X Long Alphabet Daily Target ETF (GOOX) and Direxion Daily 20-Year Treasury Bear 3X (TMV). 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.

	GOOX	TMV	Difference
Sharpe ratio: Return per unit of total volatility	4.30	-0.10	+4.41
Sortino ratio: Return per unit of downside risk	4.48	0.05	+4.43
Omega ratio: Gain probability vs. loss probability	1.54	1.01	+0.53
Calmar ratio: Return relative to maximum drawdown	6.44	-0.14	+6.58
Martin ratio: Return relative to average drawdown	20.39	-0.27	+20.66

GOOX vs. TMV - Sharpe Ratio Comparison

The current GOOX Sharpe Ratio is 4.30, which is higher than the TMV Sharpe Ratio of -0.10. The chart below compares the historical Sharpe Ratios of GOOX and TMV, 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

GOOX vs. TMV - Drawdown Comparison

The maximum GOOX drawdown since its inception was -52.46%, smaller than the maximum TMV drawdown of -98.96%. Use the drawdown chart below to compare losses from any high point for GOOX and TMV.

Drawdown Indicators

	GOOX	TMV	Difference
Max Drawdown Largest peak-to-trough decline	-52.46%	-98.96%	+46.50%
Max Drawdown (1Y) Largest decline over 1 year	-38.98%	-21.62%	-17.36%
Max Drawdown (3Y) Largest decline over 3 years	—	-48.49%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-48.49%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-82.31%	—
Current Drawdown Current decline from peak	-26.90%	-96.20%	+69.30%
Average Drawdown Average peak-to-trough decline	-17.09%	-86.61%	+69.52%
Ulcer Index Depth and duration of drawdowns from previous peaks	12.29%	11.11%	+1.18%

Volatility

GOOX vs. TMV - Volatility Comparison

T-Rex 2X Long Alphabet Daily Target ETF (GOOX) has a higher volatility of 19.15% compared to Direxion Daily 20-Year Treasury Bear 3X (TMV) at 7.44%. This indicates that GOOX's price experiences larger fluctuations and is considered to be riskier than TMV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GOOX	TMV	Difference
Volatility (1M) Calculated over the trailing 1-month period	19.15%	7.44%	+11.71%
Volatility (6M) Calculated over the trailing 6-month period	41.59%	19.91%	+21.68%
Volatility (1Y) Calculated over the trailing 1-year period	58.39%	28.50%	+29.89%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	60.53%	47.08%	+13.45%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	60.53%	44.39%	+16.14%

GOOX vs. TMV - Expense Ratio Comparison

GOOX has a 1.05% expense ratio, which is higher than TMV's 1.04% expense ratio.

Dividends

GOOX vs. TMV - Dividend Comparison

GOOX's dividend yield for the trailing twelve months is around 0.28%, less than TMV's 2.70% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
GOOX T-Rex 2X Long Alphabet Daily Target ETF	0.28%	0.30%	16.78%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
TMV Direxion Daily 20-Year Treasury Bear 3X	2.70%	2.85%	3.41%	3.87%	0.00%	0.00%	0.37%	1.60%	0.62%

Frequently Asked Questions

Can I hold both GOOX and TMV in my portfolio?

GOOX and TMV 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.

Which is riskier, GOOX or TMV?

GOOX has higher volatility (19.15%) compared to TMV (7.44%). In terms of maximum drawdown, GOOX dropped -52.46% vs TMV's -98.96%.

Which ETF is better, GOOX or TMV?

On 1-year performance, GOOX leads with 249.43% vs -2.95% for TMV. On fees, TMV is cheaper at 1.04% per year. On volatility, TMV has been the lower-risk option at 7.44%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, GOOX or TMV?

Over the 1-year period, GOOX has performed better with a 249.43% return vs -2.95%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, GOOX or TMV?

TMV is cheaper with a 1.04% expense ratio, compared with 1.05% for GOOX.

Which ETF pays a higher dividend yield, GOOX or TMV?

TMV has the higher dividend yield at 2.70%, compared with 0.28% for GOOX.

What is the main difference between GOOX and TMV?

They also come from different issuers: T-Rex and Direxion. Their fees differ too: 1.05% for GOOX and 1.04% for TMV.

Which has better risk-adjusted returns?

GOOX currently has the higher Sharpe Ratio (4.30 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.