TARK vs. TMF

Last updated Jun 3, 2026

TARK (Tradr 2X Long Innovation ETF) and TMF (Direxion Daily 20-Year Treasury Bull 3X) are both exchange-traded funds - TARK is a Leveraged Equities fund actively managed by AXS, while TMF is a Leveraged Bonds fund tracking the NYSE 20 Year Plus Treasury Bond Index (300%). TARK is actively managed, while TMF is passively managed. Over the past 3 years, TARK returned 22.58%/yr vs -20.47%/yr for TMF. At a 0.15 correlation, their price movements are largely independent. TARK charges 1.15%/yr vs 1.09%/yr for TMF.

Performance

TARK vs. TMF - Performance Comparison

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

Returns By Period

In the year-to-date period, TARK achieves a -1.67% return, which is significantly higher than TMF's -5.05% return.

TARK

• 1D: -3.51%
• 1M: 6.42%
• YTD: -1.67%
• 6M: -5.56%
• 1Y: 58.98%
• 3Y*: 22.58%
• 5Y*: —
• 10Y*: —

TMF

• 1D: 0.63%
• 1M: 0.26%
• YTD: -5.05%
• 6M: -10.01%
• 1Y: 1.66%
• 3Y*: -20.47%
• 5Y*: -29.85%
• 10Y*: -16.47%

*Multi-year figures are annualized to reflect compound growth (CAGR)

TARK vs. TMF - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
TARK Tradr 2X Long Innovation ETF	-1.67%	41.00%	-4.85%	121.37%	-73.35%
TMF Direxion Daily 20-Year Treasury Bull 3X	-5.05%	-2.94%	-35.95%	-13.01%	-43.39%

Correlation

The correlation between TARK and TMF is 0.12, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.12
Correlation (3Y) Calculated over the trailing 3-year period	0.17
Correlation (All Time) Calculated using the full available price history since May 3, 2022	0.15

Return for Risk

TARK vs. TMF — Risk / Return Rank

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

TARK

TARK Risk / Return Rank: 24
TARK Sharpe Ratio Rank: 24
TARK Sortino Ratio Rank: 28
TARK Omega Ratio Rank: 26
TARK Calmar Ratio Rank: 24
TARK Martin Ratio Rank: 19

TMF

TMF Risk / Return Rank: 9
TMF Sharpe Ratio Rank: 9
TMF Sortino Ratio Rank: 10
TMF Omega Ratio Rank: 10
TMF Calmar Ratio Rank: 8
TMF Martin Ratio Rank: 8

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.

TARK vs. TMF - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Tradr 2X Long Innovation ETF (TARK) 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.

	TARK	TMF	Difference
Sharpe ratio Return per unit of total volatility	0.83	0.06	+0.77
Sortino ratio Return per unit of downside risk	1.50	0.29	+1.21
Omega ratio Gain probability vs. loss probability	1.17	1.03	+0.14
Calmar ratio Return relative to maximum drawdown	1.11	-0.04	+1.15
Martin ratio Return relative to average drawdown	2.19	-0.08	+2.27
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

TARK vs. TMF - Sharpe Ratio Comparison

The current TARK Sharpe Ratio is 0.83, which is higher than the TMF Sharpe Ratio of 0.06. The chart below compares the historical Sharpe Ratios of TARK and TMF, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	TARK	TMF	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.83	0.06	+0.77
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	-0.64	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	-0.38	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.07	-0.13	+0.07

Drawdowns

TARK vs. TMF - Drawdown Comparison

The maximum TARK drawdown since its inception was -77.82%, smaller than the maximum TMF drawdown of -92.89%. Use the drawdown chart below to compare losses from any high point for TARK and TMF.

Drawdown Indicators

	TARK	TMF	Difference
Max Drawdown Largest peak-to-trough decline	-77.82%	-92.89%	+15.07%
Max Drawdown (1Y) Largest decline over 1 year	-57.57%	-26.51%	-31.06%
Max Drawdown (3Y) Largest decline over 3 years	-65.55%	-56.31%	-9.24%
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	-35.30%	-92.14%	+56.84%
Average Drawdown Average peak-to-trough decline	-51.00%	-43.62%	-7.38%
Ulcer Index Depth and duration of drawdowns from previous peaks	29.21%	11.42%	+17.79%

Volatility

TARK vs. TMF - Volatility Comparison

Tradr 2X Long Innovation ETF (TARK) has a higher volatility of 17.93% compared to Direxion Daily 20-Year Treasury Bull 3X (TMF) at 8.30%. This indicates that TARK'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.

Volatility by Period

	TARK	TMF	Difference
Volatility (1M) Calculated over the trailing 1-month period	17.93%	8.30%	+9.63%
Volatility (6M) Calculated over the trailing 6-month period	50.05%	19.33%	+30.72%
Volatility (1Y) Calculated over the trailing 1-year period	71.71%	28.86%	+42.85%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	90.60%	46.75%	+43.85%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	90.60%	43.92%	+46.68%

TARK vs. TMF - Expense Ratio Comparison

TARK has a 1.15% expense ratio, which is higher than TMF's 1.09% expense ratio.

Dividends

TARK vs. TMF - Dividend Comparison

TARK's dividend yield for the trailing twelve months is around 30.51%, more than TMF's 4.11% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
TARK Tradr 2X Long Innovation ETF	30.51%	30.00%	0.59%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
TMF Direxion Daily 20-Year Treasury Bull 3X	4.11%	4.06%	4.29%	2.82%	1.62%	0.13%	2.23%	0.94%	1.49%	0.41%

Frequently Asked Questions

Can I hold both TARK and TMF in my portfolio?

TARK 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.

Which is riskier, TARK or TMF?

TARK has higher volatility (17.93%) compared to TMF (8.30%). In terms of maximum drawdown, TARK dropped -77.82% vs TMF's -92.89%.

Which ETF is better, TARK or TMF?

On 3-year performance, TARK leads with 22.58% vs -20.47% for TMF. On fees, TMF is cheaper at 1.09% per year. On volatility, TMF has been the lower-risk option at 8.30%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, TARK or TMF?

Over the 3-year period, TARK has performed better with a 22.58% return vs -20.47%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, TARK or TMF?

TMF is cheaper with a 1.09% expense ratio, compared with 1.15% for TARK.

Which ETF pays a higher dividend yield, TARK or TMF?

TARK has the higher dividend yield at 30.51%, compared with 4.11% for TMF.

What is the main difference between TARK and TMF?

TARK is categorized as Leveraged Equities, while TMF is Leveraged Bonds. They also come from different issuers: AXS and Direxion. Their fees differ too: 1.15% for TARK and 1.09% for TMF.

Which has better risk-adjusted returns?

TARK currently has the higher Sharpe Ratio (0.83 vs 0.06), 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.