QCMD vs. TMF
QCMD (Direxion Daily QCOM Bear 1X Shares) and TMF (Direxion Daily 20+ Year Treasury Bull 3X ETF) are both exchange-traded funds - QCMD is a Inverse Equities fund managed by Direxion, while TMF is a Leveraged Bonds fund tracking the ICE U.S. Treasury 20+ Year Bond Index (300%). At a correlation of -0.12, they often move in opposite directions. QCMD charges 1.00%/yr vs 1.01%/yr for TMF.
Performance
QCMD vs. TMF - Performance Comparison
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Returns By Period
In the year-to-date period, QCMD achieves a -38.50% return, which is significantly lower than TMF's -5.59% return.
QCMD
- 1D
- 2.78%
- 1M
- -28.50%
- YTD
- -38.50%
- 6M
- -37.36%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
TMF
- 1D
- 0.57%
- 1M
- 0.40%
- YTD
- -5.59%
- 6M
- -9.73%
- 1Y
- -3.14%
- 3Y*
- -20.49%
- 5Y*
- -30.44%
- 10Y*
- -16.34%
QCMD vs. TMF - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
QCMD Direxion Daily QCOM Bear 1X Shares | -38.50% | -11.76% |
TMF Direxion Daily 20+ Year Treasury Bull 3X ETF | -5.59% | -0.33% |
Correlation
The correlation between QCMD and TMF is -0.12, 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 (All Time) Calculated using the full available price history since Jun 26, 2025 | -0.12 |
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Return for Risk
QCMD vs. TMF — Risk / Return Rank
QCMD
TMF
QCMD vs. TMF - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Direxion Daily QCOM Bear 1X Shares (QCMD) 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.
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
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Sharpe Ratios by Period
| QCMD | TMF | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | — | -0.11 | — |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | -0.65 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | -0.37 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -1.01 | -0.13 | -0.88 |
Drawdowns
QCMD vs. TMF - Drawdown Comparison
The maximum QCMD drawdown since its inception was -56.03%, smaller than the maximum TMF drawdown of -92.89%. Use the drawdown chart below to compare losses from any high point for QCMD and TMF.
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Drawdown Indicators
| QCMD | TMF | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -56.03% | -92.89% | +36.86% |
Max Drawdown (1Y)Largest decline over 1 year | — | -26.51% | — |
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 DrawdownCurrent decline from peak | -54.81% | -92.18% | +37.37% |
Average DrawdownAverage peak-to-trough decline | -13.32% | -43.64% | +30.32% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 11.55% | — |
Volatility
QCMD vs. TMF - Volatility Comparison
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Volatility by Period
| QCMD | TMF | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 7.99% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 19.02% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 47.28% | 28.76% | +18.52% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 47.28% | 46.72% | +0.56% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 47.28% | 43.91% | +3.37% |
QCMD vs. TMF - Expense Ratio Comparison
QCMD has a 1.00% expense ratio, which is lower than TMF's 1.01% expense ratio.
Dividends
QCMD vs. TMF - Dividend Comparison
QCMD's dividend yield for the trailing twelve months is around 3.86%, less than TMF's 4.13% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
QCMD Direxion Daily QCOM Bear 1X Shares | 3.86% | 1.77% | 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 | 4.13% | 4.06% | 4.29% | 2.82% | 1.62% | 0.13% | 2.23% | 0.94% | 1.49% | 0.41% |
Frequently Asked Questions
QCMD and TMF have a correlation of -0.12, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, QCMD is cheaper at 1.00% per year. The better choice depends on whether you care most about return, fees, risk, or income.
QCMD is cheaper with a 1.00% expense ratio, compared with 1.01% for TMF.
TMF has the higher dividend yield at 4.13%, compared with 3.86% for QCMD.
QCMD is categorized as Inverse Equities, while TMF is Leveraged Bonds. Their fees differ too: 1.00% for QCMD and 1.01% for TMF.
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