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PYPU vs. TMF
Performance
Return for Risk
Drawdowns
Volatility
Dividends

PYPU vs. TMF

Last updated Jun 30, 2026
See Documentation

PYPU (Direxion Daily PYPL Bull 2X Shares) and TMF (Direxion Daily 20+ Year Treasury Bull 3X ETF) are both exchange-traded funds - PYPU is a Leveraged Equities fund actively managed by Direxion, while TMF is a Leveraged Bonds fund tracking the ICE U.S. Treasury 20+ Year Bond Index (300%). PYPU is actively managed, while TMF is passively managed. At a 0.33 correlation, their price movements are largely independent.

Performance

PYPU vs. TMF - Performance Comparison

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

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Returns By Period

PYPU

1D
0.03%
1M
-3.07%
YTD
—
6M
—
1Y
—
3Y*
—
5Y*
—
10Y*
—

TMF

1D
0.27%
1M
6.27%
YTD
0.10%
6M
-2.84%
1Y
0.22%
3Y*
-19.40%
5Y*
-30.88%
10Y*
-17.37%
*Multi-year figures are annualized to reflect compound growth (CAGR)

PYPU vs. TMF - Yearly Performance Comparison

2026 (YTD)
PYPU
Direxion Daily PYPL Bull 2X Shares		-7.56%
TMF
Direxion Daily 20+ Year Treasury Bull 3X ETF		5.07%

Correlation

The correlation between PYPU and TMF is 0.33, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (All Time)
Calculated using the full available price history since Mar 25, 2026

0.33

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Direxion Daily PYPL Bull 2X Shares

Direxion Daily 20+ Year Treasury Bull 3X ETF

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Return for Risk

PYPU vs. TMF — Risk / Return Rank

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

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

TMF
TMF Risk / Return Rank: 99
Overall Rank
TMF Sharpe Ratio Rank: 99
Sharpe Ratio Rank
TMF Sortino Ratio Rank: 99
Sortino Ratio Rank
TMF Omega Ratio Rank: 99
Omega Ratio Rank
TMF Calmar Ratio Rank: 99
Calmar Ratio Rank
TMF Martin Ratio Rank: 99
Martin Ratio Rank
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.

PYPU vs. TMF - Risk-Adjusted Trends Comparison

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

PYPUTMFDifference
Sharpe ratioReturn per unit of total volatility

—

0.01

—

Sortino ratioReturn per unit of downside risk

—

0.21

—

Omega ratioGain probability vs. loss probability

—

1.02

—

Calmar ratioReturn relative to maximum drawdown

—

0.01

—

Martin ratioReturn relative to average drawdown

—

0.02

—

PYPU vs. TMF - Sharpe Ratio Comparison

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Drawdowns

PYPU vs. TMF - Drawdown Comparison

The maximum PYPU drawdown since its inception was -38.65%, smaller than the maximum TMF drawdown of -92.89%. Use the drawdown chart below to compare losses from any high point for PYPU and TMF.

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Drawdown Indicators

PYPUTMFDifference

Max Drawdown

Largest peak-to-trough decline

-38.65%

-92.89%

+54.24%

Max Drawdown (1Y)

Largest decline over 1 year

—

-26.51%

—

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

-28.71%

-91.71%

+63.00%

Average Drawdown

Average peak-to-trough decline

-18.11%

-43.81%

+25.70%

Ulcer Index

Depth and duration of drawdowns from previous peaks

—

12.38%

—

Volatility

PYPU vs. TMF - Volatility Comparison

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Volatility by Period

PYPUTMFDifference

Volatility (1M)

Calculated over the trailing 1-month period

—

7.11%

—

Volatility (6M)

Calculated over the trailing 6-month period

—

19.60%

—

Volatility (1Y)

Calculated over the trailing 1-year period

63.57%

28.04%

+35.53%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

63.57%

46.59%

+16.98%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

63.57%

43.80%

+19.77%

Dividends

PYPU vs. TMF - Dividend Comparison

PYPU's dividend yield for the trailing twelve months is around 0.71%, less than TMF's 3.94% yield.

PositionTTM202520242023202220212020201920182017
PYPU
Direxion Daily PYPL Bull 2X Shares		0.71%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		3.94%4.06%4.29%2.82%1.62%0.13%2.23%0.94%1.49%0.41%

Frequently Asked Questions

PYPU and TMF have a correlation of 0.33, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

TMF has the higher dividend yield at 3.94%, compared with 0.71% for PYPU.

PYPU is categorized as Leveraged Equities, while TMF is Leveraged Bonds.

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