NAIL vs. TMF
NAIL (Direxion Daily Homebuilders & Supplies Bull 3X Shares) and TMF (Direxion Daily 20+ Year Treasury Bull 3X ETF) are both exchange-traded funds - NAIL is a Leveraged Equities fund tracking the Dow Jones U.S. Select Home Construction 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, NAIL returned 6.00%/yr vs -16.87%/yr for TMF. At a 0.09 correlation, their price movements are largely independent. NAIL charges 0.99%/yr vs 1.01%/yr for TMF.
Performance
NAIL vs. TMF - Performance Comparison
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Returns By Period
In the year-to-date period, NAIL achieves a -12.96% return, which is significantly lower than TMF's -4.67% return. Over the past 10 years, NAIL has outperformed TMF with an annualized return of 6.00%, while TMF has yielded a comparatively lower -16.87% annualized return.
NAIL
- 1D
- -0.37%
- 1M
- 19.42%
- YTD
- -12.96%
- 6M
- -15.45%
- 1Y
- -16.71%
- 3Y*
- -13.68%
- 5Y*
- -9.79%
- 10Y*
- 6.00%
TMF
- 1D
- -0.62%
- 1M
- 4.96%
- YTD
- -4.67%
- 6M
- -5.95%
- 1Y
- -2.80%
- 3Y*
- -21.07%
- 5Y*
- -31.33%
- 10Y*
- -16.87%
NAIL vs. TMF - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
NAIL Direxion Daily Homebuilders & Supplies Bull 3X Shares | -12.96% | -40.43% | -22.83% | 259.61% | -75.23% | 168.20% | -32.08% | 184.63% | -73.96% | 268.71% |
TMF Direxion Daily 20+ Year Treasury Bull 3X ETF | -4.67% | -2.94% | -35.95% | -13.01% | -72.60% | -19.80% | 39.02% | 34.75% | -11.01% | 22.72% |
Correlation
The correlation between NAIL and TMF is 0.45, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.45 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.38 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.27 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.11 |
Correlation (All Time) Calculated using the full available price history since Aug 19, 2015 | 0.09 |
Over the past year, NAIL and TMF have become more correlated (0.45) than their long-term average of 0.09, meaning their price movements have been converging.
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Return for Risk
NAIL vs. TMF — Risk / Return Rank
NAIL
TMF
NAIL vs. TMF - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Direxion Daily Homebuilders & Supplies Bull 3X Shares (NAIL) 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.
| NAIL | TMF | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.09 | ||
| Sortino ratioReturn per unit of downside risk | +0.31 | ||
| Omega ratioGain probability vs. loss probability | 1.04 | 1.01 | +0.03 |
| Calmar ratioReturn relative to maximum drawdown | -0.25 | -0.11 | -0.14 |
| Martin ratioReturn relative to average drawdown | -0.42 | -0.23 | -0.19 |
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Drawdowns
NAIL vs. TMF - Drawdown Comparison
The maximum NAIL drawdown since its inception was -93.75%, roughly equal to the maximum TMF drawdown of -92.89%. Use the drawdown chart below to compare losses from any high point for NAIL and TMF.
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Drawdown Indicators
| NAIL | TMF | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -93.75% | -92.89% | -0.86% |
Max Drawdown (1Y)Largest decline over 1 year | -67.85% | -26.51% | -41.34% |
Max Drawdown (3Y)Largest decline over 3 years | -82.09% | -56.09% | -26.00% |
Max Drawdown (5Y)Largest decline over 5 years | -84.40% | -88.81% | +4.41% |
Max Drawdown (10Y)Largest decline over 10 years | -93.75% | -92.89% | -0.86% |
Current DrawdownCurrent decline from peak | -75.13% | -92.11% | +16.98% |
Average DrawdownAverage peak-to-trough decline | -43.93% | -43.76% | -0.17% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 40.23% | 12.26% | +27.97% |
Volatility
NAIL vs. TMF - Volatility Comparison
Direxion Daily Homebuilders & Supplies Bull 3X Shares (NAIL) has a higher volatility of 24.70% compared to Direxion Daily 20+ Year Treasury Bull 3X ETF (TMF) at 6.50%. This indicates that NAIL'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
| NAIL | TMF | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 24.70% | 6.50% | +18.20% |
Volatility (6M)Calculated over the trailing 6-month period | 63.33% | 19.35% | +43.98% |
Volatility (1Y)Calculated over the trailing 1-year period | 88.92% | 27.91% | +61.01% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 87.48% | 46.59% | +40.89% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 89.45% | 43.86% | +45.59% |
NAIL vs. TMF - Expense Ratio Comparison
NAIL has a 0.99% expense ratio, which is lower than TMF's 1.01% expense ratio.
Dividends
NAIL vs. TMF - Dividend Comparison
NAIL's dividend yield for the trailing twelve months is around 0.91%, less than TMF's 4.09% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
NAIL Direxion Daily Homebuilders & Supplies Bull 3X Shares | 0.91% | 1.55% | 0.63% | 0.22% | 0.00% | 0.00% | 0.01% | 0.17% | 0.35% | 1.25% |
TMF Direxion Daily 20+ Year Treasury Bull 3X ETF | 4.09% | 4.06% | 4.29% | 2.82% | 1.62% | 0.13% | 2.23% | 0.94% | 1.49% | 0.41% |
Frequently Asked Questions
NAIL and TMF have a correlation of 0.45, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
NAIL has higher volatility (24.70%) compared to TMF (6.50%). In terms of maximum drawdown, NAIL dropped -93.75% vs TMF's -92.89%.
On 10-year performance, NAIL leads with 6.00% vs -16.87% for TMF. On fees, NAIL is cheaper at 0.99% per year. On volatility, TMF has been the lower-risk option at 6.50%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, NAIL has performed better with a 6.00% return vs -16.87%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
NAIL is cheaper with a 0.99% expense ratio, compared with 1.01% for TMF.
TMF has the higher dividend yield at 4.09%, compared with 0.91% for NAIL.
NAIL is categorized as Leveraged Equities, while TMF is Leveraged Bonds. NAIL tracks Dow Jones U.S. Select Home Construction Index (300%), while TMF tracks ICE U.S. Treasury 20+ Year Bond Index (300%). Their fees differ too: 0.99% for NAIL and 1.01% for TMF.
TMF currently has the higher Sharpe Ratio (-0.10 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.
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