QCMU vs. TMF
QCMU (Direxion Daily QCOM Bull 2X Shares) and TMF (Direxion Daily 20+ Year Treasury Bull 3X ETF) are both exchange-traded funds - QCMU is a Leveraged Equities fund tracking the QUALCOMM Incorporated (QCOM), 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, QCMU returned -29.22% vs -18.44% for TMF. Their 0.14 correlation means their historical movements had little consistent relationship. QCMU charges 1.07%/yr vs 1.01%/yr for TMF.
Performance
QCMU vs. TMF - Performance Comparison
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Returns By Period
In the year-to-date period, QCMU achieves a -42.97% return, which is significantly lower than TMF's -16.67% return.
QCMU
- 1D
- -5.04%
- 1M
- -31.69%
- 6M
- -26.01%
- YTD
- -42.97%
- 1Y
- -29.22%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- -33.95%
TMF
- 1D
- -2.08%
- 1M
- -12.05%
- 6M
- -15.79%
- YTD
- -16.67%
- 1Y
- -18.44%
- 3Y*
- -20.63%
- 5Y*
- -34.74%
- 10Y*
- -18.47%
- ALL TIME*
- -6.68%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $2.68M | $2.97M | $12.33M | |
| $161.82M | $130.43M | $127.82M |
QCMU vs. TMF - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
QCMU Direxion Daily QCOM Bull 2X Shares | -42.97% | 11.21% |
TMF Direxion Daily 20+ Year Treasury Bull 3X ETF | -16.67% | -0.12% |
Correlation
The correlation between QCMU and TMF is 0.13, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.13 |
Correlation (All Time) Calculated using the full available price history since Jun 25, 2025 | 0.14 |
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Return for Risk
QCMU vs. TMF — Risk / Return Rank
QCMU
TMF
QCMU vs. TMF - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Direxion Daily QCOM Bull 2X Shares (QCMU) 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.
| QCMU | TMF | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.29 | ||
| Sortino ratioReturn per unit of downside risk | +0.95 | ||
| Omega ratioGain probability vs. loss probability | 1.04 | 0.93 | +0.11 |
| Calmar ratioReturn relative to maximum drawdown | -0.41 | -0.53 | +0.12 |
| Martin ratioReturn relative to average drawdown | -0.82 | -1.07 | +0.25 |
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Drawdowns
QCMU vs. TMF - Drawdown Comparison
The maximum QCMU drawdown since its inception was -68.70%, smaller than the maximum TMF drawdown of -93.10%. Use the drawdown chart below to compare losses from any high point for QCMU and TMF.
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Drawdown Indicators
| QCMU | TMF | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -68.70% | -93.10% | +24.40% |
Max Drawdown (1Y)Largest decline over 1 year | -68.70% | -28.69% | -40.01% |
Max Drawdown (3Y)Largest decline over 3 years | — | -50.64% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -89.14% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -93.10% | — |
Current DrawdownCurrent decline from peak | -68.70% | -93.10% | +24.40% |
Average DrawdownAverage peak-to-trough decline | -25.89% | -44.07% | +18.18% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 33.86% | 14.10% | +19.76% |
Volatility
QCMU vs. TMF - Volatility Comparison
Direxion Daily QCOM Bull 2X Shares (QCMU) has a higher volatility of 25.77% compared to Direxion Daily 20+ Year Treasury Bull 3X ETF (TMF) at 7.21%. This indicates that QCMU'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.
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Volatility by Period
| QCMU | TMF | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 25.77% | 7.21% | +18.56% |
Volatility (6M)Calculated over the trailing 6-month period | 93.43% | 19.98% | +73.45% |
Volatility (1Y)Calculated over the trailing 1-year period | 106.17% | 27.35% | +78.82% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 101.91% | 46.36% | +55.55% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 101.91% | 43.70% | +58.21% |
QCMU vs. TMF - Expense Ratio Comparison
QCMU has a 1.07% expense ratio, which is higher than TMF's 1.01% expense ratio.
Dividends
QCMU vs. TMF - Dividend Comparison
QCMU's dividend yield for the trailing twelve months is around 4.38%, less than TMF's 4.74% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
QCMU Direxion Daily QCOM Bull 2X Shares | 4.38% | 1.57% | 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 | 4.74% | 4.06% | 4.29% | 2.82% | 1.62% | 0.13% | 2.23% | 0.94% | 1.49% | 0.41% |
Frequently Asked Questions
QCMU and TMF have a correlation of 0.13, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
QCMU has higher volatility (25.77%) compared to TMF (7.21%). In terms of maximum drawdown, QCMU dropped -68.70% vs TMF's -93.10%.
On 1-year performance, TMF leads with -18.44% vs -29.22% for QCMU. On fees, TMF is cheaper at 1.01% per year. On volatility, TMF has been the lower-risk option at 7.21%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, TMF has performed better with a -18.44% return vs -29.22%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
TMF is cheaper with a 1.01% expense ratio, compared with 1.07% for QCMU.
TMF has the higher dividend yield at 4.74%, compared with 4.38% for QCMU.
QCMU is categorized as Leveraged Equities, while TMF is Leveraged Bonds. QCMU tracks QUALCOMM Incorporated (QCOM), while TMF tracks ICE U.S. Treasury 20+ Year Bond Index (300%). Their fees differ too: 1.07% for QCMU and 1.01% for TMF.
QCMU currently has the higher Sharpe Ratio (-0.27 vs -0.55), 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.
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