PLTU vs. TMF

Last updated Jun 4, 2026

PLTU (Direxion Daily PLTR Bull 2X Shares) and TMF (Direxion Daily 20-Year Treasury Bull 3X) are both exchange-traded funds - PLTU is a Leveraged Equities fund actively managed by Direxion, while TMF is a Leveraged Bonds fund tracking the NYSE 20 Year Plus Treasury Bond Index (300%). PLTU is actively managed, while TMF is passively managed. Over the past year, PLTU returned -21.46% vs 0.90% for TMF. At a correlation of -0.04, they often move in opposite directions. PLTU charges 0.97%/yr vs 1.09%/yr for TMF.

Performance

PLTU vs. TMF - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Direxion Daily PLTR Bull 2X Shares (PLTU) and Direxion Daily 20-Year Treasury Bull 3X (TMF). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PLTU achieves a -46.71% return, which is significantly lower than TMF's -6.13% return.

PLTU

• 1D: -13.03%
• 1M: -9.11%
• YTD: -46.71%
• 6M: -46.12%
• 1Y: -21.46%
• 3Y*: —
• 5Y*: —
• 10Y*: —

TMF

• 1D: -1.14%
• 1M: 1.22%
• YTD: -6.13%
• 6M: -11.63%
• 1Y: 0.90%
• 3Y*: -20.78%
• 5Y*: -30.52%
• 10Y*: -16.56%

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

PLTU vs. TMF - Yearly Performance Comparison

	2026 (YTD)	2025	2024
PLTU Direxion Daily PLTR Bull 2X Shares	-46.71%	223.17%	6.41%
TMF Direxion Daily 20-Year Treasury Bull 3X	-6.13%	-2.94%	-14.79%

Correlation

The correlation between PLTU and TMF is 0.01, 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	0.01
Correlation (All Time) Calculated using the full available price history since Dec 12, 2024	-0.04

PLTU vs. TMF - Sectors Allocation Comparison

Sectors	PLTU	TMF
Technology	100.0%	-
Basic Materials	-	-
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Energy	-	-
Financial Services	-	18.7%
Healthcare	-	-
Industrials	-	-
Real Estate	-	-
Utilities	-	-

Return for Risk

PLTU vs. TMF — Risk / Return Rank

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

PLTU

PLTU Risk / Return Rank: 8
PLTU Sharpe Ratio Rank: 7
PLTU Sortino Ratio Rank: 11
PLTU Omega Ratio Rank: 11
PLTU Calmar Ratio Rank: 6
PLTU Martin Ratio Rank: 6

TMF

TMF Risk / Return Rank: 9
TMF Sharpe Ratio Rank: 9
TMF Sortino Ratio Rank: 9
TMF Omega Ratio Rank: 9
TMF Calmar Ratio Rank: 9
TMF Martin Ratio Rank: 9

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.

PLTU vs. TMF - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Direxion Daily PLTR Bull 2X Shares (PLTU) 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.

	PLTU	TMF	Difference
Sharpe ratio Return per unit of total volatility	-0.21	0.03	-0.24
Sortino ratio Return per unit of downside risk	0.40	0.25	+0.15
Omega ratio Gain probability vs. loss probability	1.05	1.03	+0.02
Calmar ratio Return relative to maximum drawdown	-0.32	0.03	-0.35
Martin ratio Return relative to average drawdown	-0.54	0.08	-0.62
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

PLTU vs. TMF - Sharpe Ratio Comparison

The current PLTU Sharpe Ratio is -0.21, which is lower than the TMF Sharpe Ratio of 0.03. The chart below compares the historical Sharpe Ratios of PLTU 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.

Sharpe Ratios by Period

	PLTU	TMF	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.21	0.03	-0.24
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	-0.66	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	-0.38	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.40	-0.14	+0.54

Drawdowns

PLTU vs. TMF - Drawdown Comparison

The maximum PLTU drawdown since its inception was -69.14%, smaller than the maximum TMF drawdown of -92.89%. Use the drawdown chart below to compare losses from any high point for PLTU and TMF.

Drawdown Indicators

	PLTU	TMF	Difference
Max Drawdown Largest peak-to-trough decline	-69.14%	-92.89%	+23.75%
Max Drawdown (1Y) Largest decline over 1 year	-68.10%	-26.51%	-41.59%
Max Drawdown (3Y) Largest decline over 3 years	—	-56.31%	—
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	-62.95%	-92.23%	+29.28%
Average Drawdown Average peak-to-trough decline	-31.90%	-43.63%	+11.73%
Ulcer Index Depth and duration of drawdowns from previous peaks	39.45%	11.49%	+27.96%

Volatility

PLTU vs. TMF - Volatility Comparison

Direxion Daily PLTR Bull 2X Shares (PLTU) has a higher volatility of 36.67% compared to Direxion Daily 20-Year Treasury Bull 3X (TMF) at 8.09%. This indicates that PLTU'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

	PLTU	TMF	Difference
Volatility (1M) Calculated over the trailing 1-month period	36.67%	8.09%	+28.58%
Volatility (6M) Calculated over the trailing 6-month period	77.36%	19.01%	+58.35%
Volatility (1Y) Calculated over the trailing 1-year period	103.08%	28.76%	+74.32%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	127.24%	46.75%	+80.49%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	127.24%	43.92%	+83.32%

PLTU vs. TMF - Expense Ratio Comparison

PLTU has a 0.97% expense ratio, which is lower than TMF's 1.09% expense ratio.

Dividends

PLTU vs. TMF - Dividend Comparison

PLTU's dividend yield for the trailing twelve months is around 44.62%, more than TMF's 4.15% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
PLTU Direxion Daily PLTR Bull 2X Shares	44.62%	23.29%	0.12%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
TMF Direxion Daily 20-Year Treasury Bull 3X	4.15%	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 PLTU and TMF in my portfolio?

PLTU and TMF have a correlation of 0.01, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PLTU or TMF?

PLTU has higher volatility (36.67%) compared to TMF (8.09%). In terms of maximum drawdown, PLTU dropped -69.14% vs TMF's -92.89%.

Which ETF is better, PLTU or TMF?

On 1-year performance, TMF leads with 0.90% vs -21.46% for PLTU. On fees, PLTU is cheaper at 0.97% per year. On volatility, TMF has been the lower-risk option at 8.09%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, PLTU or TMF?

Over the 1-year period, TMF has performed better with a 0.90% return vs -21.46%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, PLTU or TMF?

PLTU is cheaper with a 0.97% expense ratio, compared with 1.09% for TMF.

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

PLTU has the higher dividend yield at 44.62%, compared with 4.15% for TMF.

What is the main difference between PLTU and TMF?

PLTU is categorized as Leveraged Equities, while TMF is Leveraged Bonds. Their fees differ too: 0.97% for PLTU and 1.09% for TMF.

Which has better risk-adjusted returns?

TMF currently has the higher Sharpe Ratio (0.03 vs -0.21), 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.