NFXS vs. TMF
NFXS (Direxion Daily NFLX Bear 1X Shares) and TMF (Direxion Daily 20+ Year Treasury Bull 3X ETF) are both exchange-traded funds - NFXS is a Inverse Equities fund actively managed by Direxion, while TMF is a Leveraged Bonds fund tracking the ICE U.S. Treasury 20+ Year Bond Index (300%). NFXS is actively managed, while TMF is passively managed. Over the past year, NFXS returned 49.59% vs -17.67% for TMF. Their 0.01 correlation means their historical movements had little consistent relationship. NFXS charges 1.03%/yr vs 1.01%/yr for TMF.
Performance
NFXS vs. TMF - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, NFXS achieves a 22.37% return, which is significantly higher than TMF's -15.88% return.
NFXS
- 1D
- -2.09%
- 1M
- 5.48%
- 6M
- 7.74%
- YTD
- 22.37%
- 1Y
- 49.59%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- -6.83%
TMF
- 1D
- 0.95%
- 1M
- -11.21%
- 6M
- -14.16%
- YTD
- -15.88%
- 1Y
- -17.67%
- 3Y*
- -18.84%
- 5Y*
- -35.05%
- 10Y*
- -18.33%
- ALL TIME*
- -6.63%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $438.99K | $959.25K | $649.73K | |
| $168.22M | $133.63M | $127.70M |
NFXS vs. TMF - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
NFXS Direxion Daily NFLX Bear 1X Shares | 22.37% | -8.56% | -21.49% |
TMF Direxion Daily 20+ Year Treasury Bull 3X ETF | -15.88% | -2.94% | -29.57% |
Correlation
The correlation between NFXS and TMF is 0.08, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.08 |
Correlation (All Time) Calculated using the full available price history since Oct 3, 2024 | 0.01 |
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
NFXS vs. TMF — Risk / Return Rank
NFXS
TMF
NFXS vs. TMF - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Direxion Daily NFLX Bear 1X Shares (NFXS) 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.
| NFXS | TMF | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.08 | ||
| Sortino ratioReturn per unit of downside risk | +2.83 | ||
| Omega ratioGain probability vs. loss probability | 1.28 | 0.91 | +0.37 |
| Calmar ratioReturn relative to maximum drawdown | 1.59 | -0.62 | +2.21 |
| Martin ratioReturn relative to average drawdown | 4.30 | -1.25 | +5.55 |
Loading charts...
Drawdowns
NFXS vs. TMF - Drawdown Comparison
The maximum NFXS drawdown since its inception was -50.37%, smaller than the maximum TMF drawdown of -93.10%. Use the drawdown chart below to compare losses from any high point for NFXS and TMF.
Loading charts...
Drawdown Indicators
| NFXS | TMF | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -50.37% | -93.10% | +42.73% |
Max Drawdown (1Y)Largest decline over 1 year | -31.31% | -28.69% | -2.62% |
Max Drawdown (3Y)Largest decline over 3 years | — | -50.64% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -89.14% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -93.10% | — |
Current DrawdownCurrent decline from peak | -14.17% | -93.04% | +78.87% |
Average DrawdownAverage peak-to-trough decline | -30.77% | -44.08% | +13.31% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 11.55% | 14.21% | -2.66% |
Volatility
NFXS vs. TMF - Volatility Comparison
Direxion Daily NFLX Bear 1X Shares (NFXS) has a higher volatility of 9.93% compared to Direxion Daily 20+ Year Treasury Bull 3X ETF (TMF) at 7.36%. This indicates that NFXS'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
| NFXS | TMF | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.93% | 7.36% | +2.57% |
Volatility (6M)Calculated over the trailing 6-month period | 28.52% | 19.96% | +8.56% |
Volatility (1Y)Calculated over the trailing 1-year period | 35.14% | 27.08% | +8.06% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 34.93% | 46.37% | -11.44% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 34.93% | 43.71% | -8.78% |
NFXS vs. TMF - Expense Ratio Comparison
NFXS has a 1.03% expense ratio, which is higher than TMF's 1.01% expense ratio.
Dividends
NFXS vs. TMF - Dividend Comparison
NFXS's dividend yield for the trailing twelve months is around 2.90%, less than TMF's 4.69% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
NFXS Direxion Daily NFLX Bear 1X Shares | 2.90% | 3.53% | 0.87% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
TMF Direxion Daily 20+ Year Treasury Bull 3X ETF | 4.69% | 4.06% | 4.29% | 2.82% | 1.62% | 0.13% | 2.23% | 0.94% | 1.49% | 0.41% |
Frequently Asked Questions
NFXS and TMF have a correlation of 0.08, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
NFXS has higher volatility (9.93%) compared to TMF (7.36%). In terms of maximum drawdown, NFXS dropped -50.37% vs TMF's -93.10%.
On 1-year performance, NFXS leads with 49.59% vs -17.67% for TMF. On fees, TMF is cheaper at 1.01% per year. On volatility, TMF has been the lower-risk option at 7.36%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, NFXS has performed better with a 49.59% return vs -17.67%. 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 1.03% for NFXS.
TMF has the higher dividend yield at 4.69%, compared with 2.90% for NFXS.
NFXS is categorized as Inverse Equities, while TMF is Leveraged Bonds. Their fees differ too: 1.03% for NFXS and 1.01% for TMF.
NFXS currently has the higher Sharpe Ratio (1.42 vs -0.66), 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 NFXS 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