OILU vs. TMF
OILU (MicroSectors Oil & Gas Exploration & Production 3X Leveraged ETN) and TMF (Direxion Daily 20+ Year Treasury Bull 3X ETF) are both exchange-traded funds - OILU is a Leveraged Commodities fund managed by BMO, while TMF is a Leveraged Bonds fund tracking the ICE U.S. Treasury 20+ Year Bond Index (300%). Over the past 3 years, OILU returned 2.53%/yr vs -21.85%/yr for TMF. At a correlation of -0.12, they often move in opposite directions. OILU charges 0.95%/yr vs 1.01%/yr for TMF.
Performance
OILU vs. TMF - Performance Comparison
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Returns By Period
In the year-to-date period, OILU achieves a 84.54% return, which is significantly higher than TMF's -11.93% return.
OILU
- 1D
- 2.86%
- 1M
- 27.28%
- 6M
- 58.40%
- YTD
- 84.54%
- 1Y
- 100.47%
- 3Y*
- 2.53%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 12.00%
TMF
- 1D
- -1.01%
- 1M
- -10.16%
- 6M
- -9.78%
- YTD
- -11.93%
- 1Y
- -7.67%
- 3Y*
- -21.85%
- 5Y*
- -34.00%
- 10Y*
- -18.08%
- ALL TIME*
- -6.40%
OILU vs. TMF - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
OILU MicroSectors Oil & Gas Exploration & Production 3X Leveraged ETN | 84.54% | -16.50% | -21.65% | -32.50% | 151.08% | -16.79% |
TMF Direxion Daily 20+ Year Treasury Bull 3X ETF | -11.93% | -2.94% | -35.95% | -13.01% | -72.60% | -2.79% |
Correlation
The correlation between OILU and TMF is -0.25, 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 | -0.25 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.09 |
Correlation (All Time) Calculated using the full available price history since Nov 9, 2021 | -0.12 |
The correlation between OILU and TMF shifts across timeframes, from -0.25 (1 year) to -0.09 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
OILU vs. TMF — Risk / Return Rank
OILU
TMF
OILU vs. TMF - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for MicroSectors Oil & Gas Exploration & Production 3X Leveraged ETN (OILU) 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.
| OILU | TMF | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.87 | ||
| Sortino ratioReturn per unit of downside risk | +2.25 | ||
| Omega ratioGain probability vs. loss probability | 1.25 | 0.98 | +0.27 |
| Calmar ratioReturn relative to maximum drawdown | 2.17 | -0.29 | +2.46 |
| Martin ratioReturn relative to average drawdown | 5.47 | -0.58 | +6.04 |
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Drawdowns
OILU vs. TMF - Drawdown Comparison
The maximum OILU drawdown since its inception was -81.00%, smaller than the maximum TMF drawdown of -92.89%. Use the drawdown chart below to compare losses from any high point for OILU and TMF.
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Drawdown Indicators
| OILU | TMF | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -81.00% | -92.89% | +11.89% |
Max Drawdown (1Y)Largest decline over 1 year | -46.49% | -26.51% | -19.98% |
Max Drawdown (3Y)Largest decline over 3 years | -69.09% | -53.47% | -15.62% |
Max Drawdown (5Y)Largest decline over 5 years | — | -88.81% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -92.89% | — |
Current DrawdownCurrent decline from peak | -50.37% | -92.71% | +42.34% |
Average DrawdownAverage peak-to-trough decline | -50.70% | -43.98% | -6.72% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 18.45% | 13.32% | +5.13% |
Volatility
OILU vs. TMF - Volatility Comparison
MicroSectors Oil & Gas Exploration & Production 3X Leveraged ETN (OILU) has a higher volatility of 17.88% compared to Direxion Daily 20+ Year Treasury Bull 3X ETF (TMF) at 7.32%. This indicates that OILU'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
| OILU | TMF | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 17.88% | 7.32% | +10.56% |
Volatility (6M)Calculated over the trailing 6-month period | 51.06% | 19.81% | +31.25% |
Volatility (1Y)Calculated over the trailing 1-year period | 63.84% | 27.58% | +36.26% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 80.86% | 46.37% | +34.49% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 80.86% | 43.72% | +37.14% |
OILU vs. TMF - Expense Ratio Comparison
OILU has a 0.95% expense ratio, which is lower than TMF's 1.01% expense ratio.
Dividends
OILU vs. TMF - Dividend Comparison
OILU has not paid dividends to shareholders, while TMF's dividend yield for the trailing twelve months is around 4.48%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
OILU MicroSectors Oil & Gas Exploration & Production 3X Leveraged ETN | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
TMF Direxion Daily 20+ Year Treasury Bull 3X ETF | 4.48% | 4.06% | 4.29% | 2.82% | 1.62% | 0.13% | 2.23% | 0.94% | 1.49% | 0.41% |
Frequently Asked Questions
OILU and TMF have a correlation of -0.25, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
OILU has higher volatility (17.88%) compared to TMF (7.32%). In terms of maximum drawdown, OILU dropped -81.00% vs TMF's -92.89%.
On 3-year performance, OILU leads with 2.53% vs -21.85% for TMF. On fees, OILU is cheaper at 0.95% per year. On volatility, TMF has been the lower-risk option at 7.32%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, OILU has performed better with a 2.53% return vs -21.85%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
OILU is cheaper with a 0.95% expense ratio, compared with 1.01% for TMF.
TMF has the higher dividend yield at 4.48%, compared with 0.00% for OILU.
OILU is categorized as Leveraged Commodities, while TMF is Leveraged Bonds. They also come from different issuers: BMO and Direxion. Their fees differ too: 0.95% for OILU and 1.01% for TMF.
OILU currently has the higher Sharpe Ratio (1.59 vs -0.28), 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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