QQQD vs. TMF
QQQD (Direxion Daily Magnificent 7 Bear 1X Shares) and TMF (Direxion Daily 20-Year Treasury Bull 3X) are both exchange-traded funds - QQQD is a Inverse Equities fund tracking the Indxx Magnificent 7 Index (-100%), while TMF is a Leveraged Bonds fund tracking the NYSE 20 Year Plus Treasury Bond Index (300%). Both are passively managed. Over the past year, QQQD returned -21.80% vs 0.90% for TMF. At a correlation of -0.05, they often move in opposite directions. QQQD charges 0.57%/yr vs 1.09%/yr for TMF.
Performance
QQQD vs. TMF - Performance Comparison
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Returns By Period
In the year-to-date period, QQQD achieves a -2.89% return, which is significantly higher than TMF's -6.13% return.
QQQD
- 1D
- 1.38%
- 1M
- -1.88%
- YTD
- -2.89%
- 6M
- -2.43%
- 1Y
- -21.80%
- 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%
QQQD vs. TMF - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
QQQD Direxion Daily Magnificent 7 Bear 1X Shares | -2.89% | -20.32% | -27.69% |
TMF Direxion Daily 20-Year Treasury Bull 3X | -6.13% | -2.94% | -28.22% |
Correlation
The correlation between QQQD and TMF is -0.06, 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 | -0.06 |
Correlation (All Time) Calculated using the full available price history since Mar 8, 2024 | -0.05 |
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Return for Risk
QQQD vs. TMF — Risk / Return Rank
QQQD
TMF
QQQD vs. TMF - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Direxion Daily Magnificent 7 Bear 1X Shares (QQQD) 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.
| QQQD | TMF | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.11 | ||
| Sortino ratioReturn per unit of downside risk | -1.80 | ||
| Omega ratioGain probability vs. loss probability | 0.83 | 1.03 | -0.19 |
| Calmar ratioReturn relative to maximum drawdown | -0.82 | 0.03 | -0.85 |
| Martin ratioReturn relative to average drawdown | -1.23 | 0.08 | -1.31 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| QQQD | TMF | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -1.08 | 0.03 | -1.11 |
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 | -0.86 | -0.14 | -0.72 |
Drawdowns
QQQD vs. TMF - Drawdown Comparison
The maximum QQQD drawdown since its inception was -49.47%, smaller than the maximum TMF drawdown of -92.89%. Use the drawdown chart below to compare losses from any high point for QQQD and TMF.
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Drawdown Indicators
| QQQD | TMF | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -49.47% | -92.89% | +43.42% |
Max Drawdown (1Y)Largest decline over 1 year | -26.65% | -26.51% | -0.14% |
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 | -47.50% | -92.23% | +44.73% |
Average DrawdownAverage peak-to-trough decline | -30.34% | -43.63% | +13.29% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 17.72% | 11.49% | +6.23% |
Volatility
QQQD vs. TMF - Volatility Comparison
The current volatility for Direxion Daily Magnificent 7 Bear 1X Shares (QQQD) is 4.76%, while Direxion Daily 20-Year Treasury Bull 3X (TMF) has a volatility of 8.09%. This indicates that QQQD experiences smaller price fluctuations and is considered to be less risky 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
| QQQD | TMF | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.76% | 8.09% | -3.33% |
Volatility (6M)Calculated over the trailing 6-month period | 14.43% | 19.01% | -4.58% |
Volatility (1Y)Calculated over the trailing 1-year period | 20.21% | 28.76% | -8.55% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 26.77% | 46.75% | -19.98% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 26.77% | 43.92% | -17.15% |
QQQD vs. TMF - Expense Ratio Comparison
QQQD has a 0.57% expense ratio, which is lower than TMF's 1.09% expense ratio.
Dividends
QQQD vs. TMF - Dividend Comparison
QQQD's dividend yield for the trailing twelve months is around 4.07%, less than TMF's 4.15% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
QQQD Direxion Daily Magnificent 7 Bear 1X Shares | 4.07% | 4.33% | 5.17% | 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
QQQD and TMF have a correlation of -0.06, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
TMF has higher volatility (8.09%) compared to QQQD (4.76%). In terms of maximum drawdown, QQQD dropped -49.47% vs TMF's -92.89%.
On 1-year performance, TMF leads with 0.90% vs -21.80% for QQQD. On fees, QQQD is cheaper at 0.57% per year. On volatility, QQQD has been the lower-risk option at 4.76%. 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 0.90% return vs -21.80%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
QQQD is cheaper with a 0.57% expense ratio, compared with 1.09% for TMF.
TMF has the higher dividend yield at 4.15%, compared with 4.07% for QQQD.
QQQD is categorized as Inverse Equities, while TMF is Leveraged Bonds. QQQD tracks Indxx Magnificent 7 Index (-100%), while TMF tracks NYSE 20 Year Plus Treasury Bond Index (300%). Their fees differ too: 0.57% for QQQD and 1.09% for TMF.
TMF currently has the higher Sharpe Ratio (0.03 vs -1.08), 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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