SHPU vs. TMF
SHPU (Direxion Daily SHOP Bull 2X ETF) and TMF (Direxion Daily 20+ Year Treasury Bull 3X ETF) are both exchange-traded funds - SHPU 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%). SHPU is actively managed, while TMF is passively managed. At a 0.19 correlation, their price movements are largely independent. SHPU charges 1.09%/yr vs 1.01%/yr for TMF.
Performance
SHPU vs. TMF - Performance Comparison
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Returns By Period
In the year-to-date period, SHPU achieves a -63.07% return, which is significantly lower than TMF's -0.03% return.
SHPU
- 1D
- -4.90%
- 1M
- 8.87%
- YTD
- -63.07%
- 6M
- -66.83%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
TMF
- 1D
- -0.11%
- 1M
- 8.39%
- YTD
- -0.03%
- 6M
- -2.97%
- 1Y
- -0.36%
- 3Y*
- -19.98%
- 5Y*
- -30.26%
- 10Y*
- -17.10%
SHPU vs. TMF - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
SHPU Direxion Daily SHOP Bull 2X ETF | -63.07% | 8.74% |
TMF Direxion Daily 20+ Year Treasury Bull 3X ETF | -0.03% | -3.60% |
Correlation
The correlation between SHPU and TMF is 0.19, 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 Aug 6, 2025 | 0.19 |
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Return for Risk
SHPU vs. TMF — Risk / Return Rank
SHPU
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
TMF
SHPU vs. TMF - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Direxion Daily SHOP Bull 2X ETF (SHPU) 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.
| SHPU | TMF | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 1.02 | — |
| Calmar ratioReturn relative to maximum drawdown | — | -0.01 | — |
| Martin ratioReturn relative to average drawdown | — | -0.03 | — |
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Drawdowns
SHPU vs. TMF - Drawdown Comparison
The maximum SHPU drawdown since its inception was -77.97%, smaller than the maximum TMF drawdown of -92.89%. Use the drawdown chart below to compare losses from any high point for SHPU and TMF.
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Drawdown Indicators
| SHPU | TMF | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -77.97% | -92.89% | +14.92% |
Max Drawdown (1Y)Largest decline over 1 year | — | -26.51% | — |
Max Drawdown (3Y)Largest decline over 3 years | — | -56.09% | — |
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 | -71.28% | -91.72% | +20.44% |
Average DrawdownAverage peak-to-trough decline | -38.89% | -43.79% | +4.90% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 12.32% | — |
Volatility
SHPU vs. TMF - Volatility Comparison
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Volatility by Period
| SHPU | TMF | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 7.19% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 19.68% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 109.61% | 28.08% | +81.53% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 109.61% | 46.61% | +63.00% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 109.61% | 43.86% | +65.75% |
SHPU vs. TMF - Expense Ratio Comparison
SHPU has a 1.09% expense ratio, which is higher than TMF's 1.01% expense ratio.
Dividends
SHPU vs. TMF - Dividend Comparison
SHPU's dividend yield for the trailing twelve months is around 56.18%, more than TMF's 3.95% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
SHPU Direxion Daily SHOP Bull 2X ETF | 56.18% | 20.05% | 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 | 3.95% | 4.06% | 4.29% | 2.82% | 1.62% | 0.13% | 2.23% | 0.94% | 1.49% | 0.41% |
Frequently Asked Questions
SHPU and TMF have a correlation of 0.19, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, TMF is cheaper at 1.01% per year. The better choice depends on whether you care most about return, fees, risk, or income.
TMF is cheaper with a 1.01% expense ratio, compared with 1.09% for SHPU.
SHPU has the higher dividend yield at 56.18%, compared with 3.95% for TMF.
SHPU is categorized as Leveraged Equities, while TMF is Leveraged Bonds. Their fees differ too: 1.09% for SHPU and 1.01% for TMF.
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