KORU vs. TMF

Last updated Jun 4, 2026

KORU (Direxion Daily South Korea Bull 3X Shares) and TMF (Direxion Daily 20+ Year Treasury Bull 3X ETF) are both exchange-traded funds - KORU is a Leveraged Equities fund tracking the MSCI Korea 25-50 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 10 years, KORU returned 19.62%/yr vs -16.56%/yr for TMF. At a correlation of -0.07, they often move in opposite directions. KORU charges 1.29%/yr vs 1.01%/yr for TMF.

Performance

KORU vs. TMF - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Direxion Daily South Korea Bull 3X Shares (KORU) 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, KORU achieves a 559.14% return, which is significantly higher than TMF's -6.13% return. Over the past 10 years, KORU has outperformed TMF with an annualized return of 19.62%, while TMF has yielded a comparatively lower -16.56% annualized return.

KORU

• 1D: -2.29%
• 1M: 92.47%
• YTD: 559.14%
• 6M: 689.29%
• 1Y: 2,160.10%
• 3Y*: 132.56%
• 5Y*: 23.42%
• 10Y*: 19.62%

TMF

• 1D: -1.14%
• 1M: 1.22%
• YTD: -6.13%
• 6M: -11.63%
• 1Y: 0.90%
• 3Y*: -20.78%
• 5Y*: -30.52%
• 10Y*: -16.56%

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

KORU vs. TMF - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
KORU Direxion Daily South Korea Bull 3X Shares	559.14%	432.73%	-62.18%	28.61%	-70.16%	-33.86%	48.78%	5.47%	-59.89%	167.08%
TMF Direxion Daily 20+ Year Treasury Bull 3X ETF	-6.13%	-2.94%	-35.95%	-13.01%	-72.60%	-19.80%	39.02%	34.75%	-11.01%	22.72%

Correlation

The correlation between KORU and TMF is 0.24, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.24
Correlation (3Y) Calculated over the trailing 3-year period	0.17
Correlation (5Y) Calculated over the trailing 5-year period	0.08
Correlation (10Y) Calculated over the trailing 10-year period	-0.04
Correlation (All Time) Calculated using the full available price history since Apr 11, 2013	-0.07

The correlation between KORU and TMF shifts across timeframes, from -0.07 (all time) to 0.24 (1 year), reflecting how their relationship changes across market environments.

KORU vs. TMF - Sectors Allocation Comparison

Sectors	KORU	TMF
Technology	52.3%	-
Industrials	20.4%	-
Financial Services	16.7%	18.7%
Consumer Cyclical	5.8%	-
Healthcare	3.5%	-
Communication Services	2.9%	-
Basic Materials	2.0%	-
Consumer Defensive	1.8%	-
Energy	1.4%	-
Utilities	0.4%	-
Real Estate	-	-

Return for Risk

KORU vs. TMF — Risk / Return Rank

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

KORU

KORU Risk / Return Rank: 97
KORU Sharpe Ratio Rank: 100
KORU Sortino Ratio Rank: 95
KORU Omega Ratio Rank: 95
KORU Calmar Ratio Rank: 99
KORU Martin Ratio Rank: 99

TMF

TMF Risk / Return Rank: 9
TMF Sharpe Ratio Rank: 9
TMF Sortino Ratio Rank: 9
TMF Omega Ratio Rank: 9
TMF Calmar Ratio Rank: 9
TMF Martin Ratio Rank: 9

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.

KORU vs. TMF - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Direxion Daily South Korea Bull 3X Shares (KORU) 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.

	KORU	TMF	Difference
Sharpe ratio: Return per unit of total volatility	17.63	0.03	+17.60
Sortino ratio: Return per unit of downside risk	5.20	0.25	+4.95
Omega ratio: Gain probability vs. loss probability	1.72	1.03	+0.70
Calmar ratio: Return relative to maximum drawdown	35.65	0.03	+35.61
Martin ratio: Return relative to average drawdown	112.99	0.08	+112.91
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

KORU vs. TMF - Sharpe Ratio Comparison

The current KORU Sharpe Ratio is 17.63, which is higher than the TMF Sharpe Ratio of 0.03. The chart below compares the historical Sharpe Ratios of KORU 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.

Sharpe Ratios by Period

	KORU	TMF	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	17.63	0.03	+17.60
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.28	-0.66	+0.93
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.25	-0.38	+0.62
Sharpe Ratio (All Time) Calculated using the full available price history	0.13	-0.14	+0.26

Drawdowns

KORU vs. TMF - Drawdown Comparison

The maximum KORU drawdown since its inception was -95.79%, roughly equal to the maximum TMF drawdown of -92.89%. Use the drawdown chart below to compare losses from any high point for KORU and TMF.

Drawdown Indicators

	KORU	TMF	Difference
Max Drawdown Largest peak-to-trough decline	-95.79%	-92.89%	-2.90%
Max Drawdown (1Y) Largest decline over 1 year	-61.39%	-26.51%	-34.88%
Max Drawdown (3Y) Largest decline over 3 years	-73.71%	-56.31%	-17.40%
Max Drawdown (5Y) Largest decline over 5 years	-93.35%	-88.81%	-4.54%
Max Drawdown (10Y) Largest decline over 10 years	-95.79%	-92.89%	-2.90%
Current Drawdown Current decline from peak	-5.39%	-92.23%	+86.84%
Average Drawdown Average peak-to-trough decline	-57.53%	-43.63%	-13.90%
Ulcer Index Depth and duration of drawdowns from previous peaks	19.33%	11.49%	+7.84%

Volatility

KORU vs. TMF - Volatility Comparison

Direxion Daily South Korea Bull 3X Shares (KORU) has a higher volatility of 60.18% compared to Direxion Daily 20+ Year Treasury Bull 3X ETF (TMF) at 8.09%. This indicates that KORU'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.

Volatility by Period

	KORU	TMF	Difference
Volatility (1M) Calculated over the trailing 1-month period	60.18%	8.09%	+52.09%
Volatility (6M) Calculated over the trailing 6-month period	110.71%	19.01%	+91.70%
Volatility (1Y) Calculated over the trailing 1-year period	124.15%	28.76%	+95.39%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	85.11%	46.75%	+38.36%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	79.91%	43.92%	+35.99%

KORU vs. TMF - Expense Ratio Comparison

KORU has a 1.29% expense ratio, which is higher than TMF's 1.01% expense ratio.

Dividends

KORU vs. TMF - Dividend Comparison

KORU's dividend yield for the trailing twelve months is around 0.14%, less than TMF's 4.15% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
KORU Direxion Daily South Korea Bull 3X Shares	0.14%	0.89%	4.10%	2.55%	0.48%	0.76%	0.01%	0.93%	1.40%	3.59%
TMF Direxion Daily 20+ Year Treasury Bull 3X ETF	4.15%	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 KORU and TMF in my portfolio?

KORU and TMF have a correlation of 0.24, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, KORU or TMF?

KORU has higher volatility (60.18%) compared to TMF (8.09%). In terms of maximum drawdown, KORU dropped -95.79% vs TMF's -92.89%.

Which ETF is better, KORU or TMF?

On 10-year performance, KORU leads with 19.62% vs -16.56% for TMF. On fees, TMF is cheaper at 1.01% per year. On volatility, TMF has been the lower-risk option at 8.09%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, KORU or TMF?

Over the 10-year period, KORU has performed better with a 19.62% return vs -16.56%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, KORU or TMF?

TMF is cheaper with a 1.01% expense ratio, compared with 1.29% for KORU.

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

TMF has the higher dividend yield at 4.15%, compared with 0.14% for KORU.

What is the main difference between KORU and TMF?

KORU is categorized as Leveraged Equities, while TMF is Leveraged Bonds. KORU tracks MSCI Korea 25-50 Index, while TMF tracks ICE U.S. Treasury 20+ Year Bond Index (300%). Their fees differ too: 1.29% for KORU and 1.01% for TMF.

Which has better risk-adjusted returns?

KORU currently has the higher Sharpe Ratio (17.63 vs 0.03), 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.