PBTP vs. TMF
Compare and contrast key facts about Invesco PureBeta 0-5 Yr US TIPS ETF (PBTP) and Direxion Daily 20-Year Treasury Bull 3X (TMF).
PBTP and TMF are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. PBTP is a passively managed fund by Invesco that tracks the performance of the ICE BofA U.S. Treasuries Inflation-Linked (0-5 Y). It was launched on Sep 22, 2017. TMF is a passively managed fund by Direxion that tracks the performance of the NYSE 20 Year Plus Treasury Bond Index (300%). It was launched on Apr 16, 2009. Both PBTP and TMF are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: PBTP or TMF.
Key characteristics
| PBTP | TMF | |
|---|---|---|
| YTD Return | 0.78% | -31.05% |
| 1Y Return | 2.73% | -49.42% |
| 3Y Return (Ann) | 1.99% | -42.44% |
| 5Y Return (Ann) | 3.03% | -25.49% |
| Sharpe Ratio | 1.01 | -0.94 |
| Daily Std Dev | 2.55% | 50.36% |
| Max Drawdown | -5.42% | -92.18% |
| Current Drawdown | -0.22% | -90.98% |
Correlation
The correlation between PBTP and TMF is 0.33, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.
Performance
PBTP vs. TMF - Performance Comparison
In the year-to-date period, PBTP achieves a 0.78% return, which is significantly higher than TMF's -31.05% return. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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PBTP vs. TMF - Expense Ratio Comparison
PBTP has a 0.07% expense ratio, which is lower than TMF's 1.09% expense ratio.
Risk-Adjusted Performance
PBTP vs. TMF - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco PureBeta 0-5 Yr US TIPS ETF (PBTP) and Direxion Daily 20-Year Treasury Bull 3X (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.
Dividends
PBTP vs. TMF - Dividend Comparison
PBTP's dividend yield for the trailing twelve months is around 2.44%, less than TMF's 4.06% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PBTP Invesco PureBeta 0-5 Yr US TIPS ETF | 2.44% | 2.36% | 5.31% | 3.09% | 1.26% | 2.12% | 2.33% | 0.73% | 0.00% | 0.00% | 0.00% | 0.00% |
TMF Direxion Daily 20-Year Treasury Bull 3X | 4.06% | 2.82% | 1.62% | 0.13% | 0.48% | 0.94% | 1.49% | 0.41% | 0.00% | 0.00% | 0.00% | 0.57% |
Drawdowns
PBTP vs. TMF - Drawdown Comparison
The maximum PBTP drawdown since its inception was -5.42%, smaller than the maximum TMF drawdown of -92.18%. Use the drawdown chart below to compare losses from any high point for PBTP and TMF. For additional features, visit the drawdowns tool.
Volatility
PBTP vs. TMF - Volatility Comparison
The current volatility for Invesco PureBeta 0-5 Yr US TIPS ETF (PBTP) is 0.56%, while Direxion Daily 20-Year Treasury Bull 3X (TMF) has a volatility of 12.53%. This indicates that PBTP experiences smaller price fluctuations and is considered to be less risky than TMF based on this measure. The chart below showcases a comparison of their rolling one-month volatility.