PLTD vs. TMF

Last updated Jul 17, 2026

PLTD (Direxion Daily PLTR Bear 1X Shares) and TMF (Direxion Daily 20+ Year Treasury Bull 3X ETF) are both exchange-traded funds - PLTD is a Inverse Equities fund tracking the Palantir Technologies Inc. (-100%), 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 year, PLTD returned -6.44% vs -2.84% for TMF. At a 0.05 correlation, their price movements are largely independent. PLTD charges 0.98%/yr vs 1.01%/yr for TMF.

Performance

PLTD vs. TMF - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Direxion Daily PLTR Bear 1X Shares (PLTD) and Direxion Daily 20+ Year Treasury Bull 3X ETF (TMF). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PLTD achieves a 17.42% return, which is significantly higher than TMF's -10.00% return.

PLTD

• 1D: -0.51%
• 1M: -2.49%
• 6M: 17.60%
• YTD: 17.42%
• 1Y: -6.44%
• 3Y*: —
• 5Y*: —
• 10Y*: —

TMF

• 1D: -0.03%
• 1M: -6.57%
• 6M: -13.01%
• YTD: -10.00%
• 1Y: -2.84%
• 3Y*: -21.08%
• 5Y*: -33.44%
• 10Y*: -17.81%

*Multi-year figures are annualized to reflect compound growth (CAGR)

PLTD vs. TMF - Yearly Performance Comparison

	2026 (YTD)	2025	2024
PLTD Direxion Daily PLTR Bear 1X Shares	17.42%	-70.53%	-5.12%
TMF Direxion Daily 20+ Year Treasury Bull 3X ETF	-10.00%	-2.94%	-17.20%

Correlation

The correlation between PLTD and TMF is -0.00, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.00
Correlation (All Time) Calculated using the full available price history since Dec 11, 2024	0.05

Return for Risk

PLTD vs. TMF — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

PLTD

PLTD Risk / Return Rank: 9
PLTD Sharpe Ratio Rank: 8
PLTD Sortino Ratio Rank: 10
PLTD Omega Ratio Rank: 10
PLTD Calmar Ratio Rank: 7
PLTD Martin Ratio Rank: 7

TMF

TMF Risk / Return Rank: 8
TMF Sharpe Ratio Rank: 8
TMF Sortino Ratio Rank: 8
TMF Omega Ratio Rank: 8
TMF Calmar Ratio Rank: 8
TMF Martin Ratio Rank: 8

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

PLTD vs. TMF - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Direxion Daily PLTR Bear 1X Shares (PLTD) 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.

	PLTD	TMF	Difference
Sharpe ratio: Return per unit of total volatility	-0.13	-0.10	-0.02
Sortino ratio: Return per unit of downside risk	0.19	0.05	+0.14
Omega ratio: Gain probability vs. loss probability	1.02	1.01	+0.02
Calmar ratio: Return relative to maximum drawdown	-0.21	-0.11	-0.11
Martin ratio: Return relative to average drawdown	-0.41	-0.22	-0.19

PLTD vs. TMF - Sharpe Ratio Comparison

The current PLTD Sharpe Ratio is -0.13, which is comparable to the TMF Sharpe Ratio of -0.10. The chart below compares the historical Sharpe Ratios of PLTD and TMF, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

PLTD vs. TMF - Drawdown Comparison

The maximum PLTD drawdown since its inception was -77.34%, smaller than the maximum TMF drawdown of -92.89%. Use the drawdown chart below to compare losses from any high point for PLTD and TMF.

Drawdown Indicators

	PLTD	TMF	Difference
Max Drawdown Largest peak-to-trough decline	-77.34%	-92.89%	+15.55%
Max Drawdown (1Y) Largest decline over 1 year	-30.31%	-26.51%	-3.80%
Max Drawdown (3Y) Largest decline over 3 years	—	-55.14%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-88.81%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-92.89%	—
Current Drawdown Current decline from peak	-69.93%	-92.55%	+22.62%
Average Drawdown Average peak-to-trough decline	-59.90%	-43.94%	-15.96%
Ulcer Index Depth and duration of drawdowns from previous peaks	15.80%	13.06%	+2.74%

Volatility

PLTD vs. TMF - Volatility Comparison

Direxion Daily PLTR Bear 1X Shares (PLTD) has a higher volatility of 15.87% compared to Direxion Daily 20+ Year Treasury Bull 3X ETF (TMF) at 7.49%. This indicates that PLTD'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.

Volatility by Period

	PLTD	TMF	Difference
Volatility (1M) Calculated over the trailing 1-month period	15.87%	7.49%	+8.38%
Volatility (6M) Calculated over the trailing 6-month period	39.29%	19.82%	+19.47%
Volatility (1Y) Calculated over the trailing 1-year period	51.51%	27.47%	+24.04%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	62.84%	46.49%	+16.35%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	62.84%	43.70%	+19.14%

PLTD vs. TMF - Expense Ratio Comparison

PLTD has a 0.98% expense ratio, which is lower than TMF's 1.01% expense ratio.

Dividends

PLTD vs. TMF - Dividend Comparison

PLTD's dividend yield for the trailing twelve months is around 2.99%, less than TMF's 4.39% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
PLTD Direxion Daily PLTR Bear 1X Shares	2.99%	5.17%	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	4.39%	4.06%	4.29%	2.82%	1.62%	0.13%	2.23%	0.94%	1.49%	0.41%

Frequently Asked Questions

Can I hold both PLTD and TMF in my portfolio?

PLTD and TMF have a correlation of -0.00, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PLTD or TMF?

PLTD has higher volatility (15.87%) compared to TMF (7.49%). In terms of maximum drawdown, PLTD dropped -77.34% vs TMF's -92.89%.

Which ETF is better, PLTD or TMF?

On 1-year performance, TMF leads with -2.84% vs -6.44% for PLTD. On fees, PLTD is cheaper at 0.98% 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.

Which ETF has performed better, PLTD or TMF?

Over the 1-year period, TMF has performed better with a -2.84% return vs -6.44%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, PLTD or TMF?

PLTD is cheaper with a 0.98% expense ratio, compared with 1.01% for TMF.

Which ETF pays a higher dividend yield, PLTD or TMF?

TMF has the higher dividend yield at 4.39%, compared with 2.99% for PLTD.

What is the main difference between PLTD and TMF?

PLTD is categorized as Inverse Equities, while TMF is Leveraged Bonds. PLTD tracks Palantir Technologies Inc. (-100%), while TMF tracks ICE U.S. Treasury 20+ Year Bond Index (300%). Their fees differ too: 0.98% for PLTD and 1.01% for TMF.

Which has better risk-adjusted returns?

TMF currently has the higher Sharpe Ratio (-0.10 vs -0.13), 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.