MEXX vs. TMF
MEXX (Direxion Daily MSCI Mexico Bull 3X Shares) and TMF (Direxion Daily 20+ Year Treasury Bull 3X ETF) are both exchange-traded funds - MEXX is a Leveraged Equities fund tracking the MSCI Mexico IMI 25-50 Net Total Return USD 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 5 years, MEXX returned 12.98%/yr vs -33.53%/yr for TMF. At a correlation of -0.02, they often move in opposite directions. MEXX charges 1.21%/yr vs 1.01%/yr for TMF.
Performance
MEXX vs. TMF - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, MEXX achieves a 14.10% return, which is significantly higher than TMF's -10.33% return.
MEXX
- 1D
- 4.66%
- 1M
- -9.01%
- 6M
- 2.53%
- YTD
- 14.10%
- 1Y
- 74.40%
- 3Y*
- -1.65%
- 5Y*
- 12.98%
- 10Y*
- —
TMF
- 1D
- 0.34%
- 1M
- -5.43%
- 6M
- -11.84%
- YTD
- -10.33%
- 1Y
- -5.12%
- 3Y*
- -21.17%
- 5Y*
- -33.53%
- 10Y*
- -17.87%
MEXX vs. TMF - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
MEXX Direxion Daily MSCI Mexico Bull 3X Shares | 14.10% | 181.49% | -73.13% | 115.60% | -12.96% | 52.75% | -53.63% | 21.41% | -51.95% | -15.26% |
TMF Direxion Daily 20+ Year Treasury Bull 3X ETF | -10.33% | -2.94% | -35.95% | -13.01% | -72.60% | -19.80% | 39.02% | 34.75% | -11.01% | 14.73% |
Correlation
The correlation between MEXX and TMF is 0.21, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.21 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.18 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.13 |
Correlation (All Time) Calculated using the full available price history since May 3, 2017 | -0.02 |
The correlation between MEXX and TMF shifts across timeframes, from -0.02 (all time) to 0.21 (1 year), reflecting how their relationship changes across market environments.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
MEXX vs. TMF — Risk / Return Rank
MEXX
TMF
MEXX vs. TMF - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Direxion Daily MSCI Mexico Bull 3X Shares (MEXX) 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.
| MEXX | TMF | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.34 | ||
| Sortino ratioReturn per unit of downside risk | +1.84 | ||
| Omega ratioGain probability vs. loss probability | 1.22 | 0.99 | +0.23 |
| Calmar ratioReturn relative to maximum drawdown | 1.93 | -0.19 | +2.12 |
| Martin ratioReturn relative to average drawdown | 5.06 | -0.40 | +5.46 |
Loading charts...
Drawdowns
MEXX vs. TMF - Drawdown Comparison
The maximum MEXX drawdown since its inception was -95.58%, roughly equal to the maximum TMF drawdown of -92.89%. Use the drawdown chart below to compare losses from any high point for MEXX and TMF.
Loading charts...
Drawdown Indicators
| MEXX | TMF | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -95.58% | -92.89% | -2.69% |
Max Drawdown (1Y)Largest decline over 1 year | -38.77% | -26.51% | -12.26% |
Max Drawdown (3Y)Largest decline over 3 years | -74.92% | -55.14% | -19.78% |
Max Drawdown (5Y)Largest decline over 5 years | -74.92% | -88.81% | +13.89% |
Max Drawdown (10Y)Largest decline over 10 years | — | -92.89% | — |
Current DrawdownCurrent decline from peak | -58.49% | -92.58% | +34.09% |
Average DrawdownAverage peak-to-trough decline | -65.42% | -43.92% | -21.50% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 14.74% | 12.91% | +1.83% |
Volatility
MEXX vs. TMF - Volatility Comparison
Direxion Daily MSCI Mexico Bull 3X Shares (MEXX) has a higher volatility of 15.65% compared to Direxion Daily 20+ Year Treasury Bull 3X ETF (TMF) at 7.49%. This indicates that MEXX'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.
Loading charts...
Volatility by Period
| MEXX | TMF | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 15.65% | 7.49% | +8.16% |
Volatility (6M)Calculated over the trailing 6-month period | 54.58% | 19.84% | +34.74% |
Volatility (1Y)Calculated over the trailing 1-year period | 65.07% | 27.57% | +37.50% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 67.12% | 46.51% | +20.61% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 74.31% | 43.72% | +30.59% |
MEXX vs. TMF - Expense Ratio Comparison
MEXX has a 1.21% expense ratio, which is higher than TMF's 1.01% expense ratio.
Dividends
MEXX vs. TMF - Dividend Comparison
MEXX's dividend yield for the trailing twelve months is around 1.47%, less than TMF's 4.40% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
MEXX Direxion Daily MSCI Mexico Bull 3X Shares | 1.47% | 1.60% | 5.81% | 1.66% | 1.33% | 0.63% | 0.12% | 1.60% | 5.61% | 0.27% |
TMF Direxion Daily 20+ Year Treasury Bull 3X ETF | 4.40% | 4.06% | 4.29% | 2.82% | 1.62% | 0.13% | 2.23% | 0.94% | 1.49% | 0.41% |
Frequently Asked Questions
MEXX and TMF have a correlation of 0.21, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
MEXX has higher volatility (15.65%) compared to TMF (7.49%). In terms of maximum drawdown, MEXX dropped -95.58% vs TMF's -92.89%.
On 5-year performance, MEXX leads with 12.98% vs -33.53% for TMF. On fees, TMF is cheaper at 1.01% per year. On volatility, TMF has been the lower-risk option at 7.49%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, MEXX has performed better with a 12.98% return vs -33.53%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
TMF is cheaper with a 1.01% expense ratio, compared with 1.21% for MEXX.
TMF has the higher dividend yield at 4.40%, compared with 1.47% for MEXX.
MEXX is categorized as Leveraged Equities, while TMF is Leveraged Bonds. MEXX tracks MSCI Mexico IMI 25-50 Net Total Return USD Index (300%), while TMF tracks ICE U.S. Treasury 20+ Year Bond Index (300%). Their fees differ too: 1.21% for MEXX and 1.01% for TMF.
MEXX currently has the higher Sharpe Ratio (1.15 vs -0.19), 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.
Find the right allocation for MEXX and TMF
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer