TMF vs. BRK-B
TMF (Direxion Daily 20+ Year Treasury Bull 3X ETF) is Leveraged Bonds fund tracking the ICE U.S. Treasury 20+ Year Bond Index (300%), while BRK-B (Berkshire Hathaway Inc.) is a stock. Over the past 10 years, TMF returned -17.99%/yr vs 13.01%/yr for BRK-B. At a correlation of -0.25, they often move in opposite directions.
Performance
TMF vs. BRK-B - Performance Comparison
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Returns By Period
In the year-to-date period, TMF achieves a -11.04% return, which is significantly lower than BRK-B's -2.27% return. Over the past 10 years, TMF has underperformed BRK-B with an annualized return of -17.99%, while BRK-B has yielded a comparatively higher 13.01% annualized return.
TMF
- 1D
- -2.07%
- 1M
- -9.25%
- 6M
- -12.35%
- YTD
- -11.04%
- 1Y
- -4.28%
- 3Y*
- -21.59%
- 5Y*
- -33.52%
- 10Y*
- -17.99%
- ALL TIME*
- -6.34%
BRK-B
- 1D
- 0.07%
- 1M
- 0.37%
- 6M
- -0.41%
- YTD
- -2.27%
- 1Y
- 3.68%
- 3Y*
- 12.42%
- 5Y*
- 11.91%
- 10Y*
- 13.01%
- ALL TIME*
- 10.58%
TMF vs. BRK-B - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
TMF Direxion Daily 20+ Year Treasury Bull 3X ETF | -11.04% | -2.94% | -35.95% | -13.01% | -72.60% | -19.80% | 39.02% | 34.75% | -11.01% | 22.72% |
BRK-B Berkshire Hathaway Inc. | -2.27% | 10.89% | 27.09% | 15.46% | 3.31% | 28.95% | 2.37% | 10.93% | 3.01% | 21.62% |
Correlation
The correlation between TMF and BRK-B is 0.02, 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 | 0.02 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.09 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.01 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.16 |
Correlation (All Time) Calculated using the full available price history since Apr 16, 2009 | -0.25 |
The correlation between TMF and BRK-B shifts across timeframes, from -0.25 (all time) to 0.09 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
TMF vs. BRK-B — Risk / Return Rank
TMF
BRK-B
TMF vs. BRK-B - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Direxion Daily 20+ Year Treasury Bull 3X ETF (TMF) and Berkshire Hathaway Inc. (BRK-B). 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.
| TMF | BRK-B | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.41 | ||
| Sortino ratioReturn per unit of downside risk | -0.48 | ||
| Omega ratioGain probability vs. loss probability | 1.00 | 1.05 | -0.06 |
| Calmar ratioReturn relative to maximum drawdown | -0.16 | 0.39 | -0.55 |
| Martin ratioReturn relative to average drawdown | -0.32 | 0.82 | -1.15 |
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Drawdowns
TMF vs. BRK-B - Drawdown Comparison
The maximum TMF drawdown since its inception was -92.89%, which is greater than BRK-B's maximum drawdown of -53.86%. Use the drawdown chart below to compare losses from any high point for TMF and BRK-B.
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Drawdown Indicators
| TMF | BRK-B | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -92.89% | -53.86% | -39.03% |
Max Drawdown (1Y)Largest decline over 1 year | -26.51% | -9.42% | -17.09% |
Max Drawdown (3Y)Largest decline over 3 years | -53.47% | -14.95% | -38.52% |
Max Drawdown (5Y)Largest decline over 5 years | -88.81% | -26.58% | -62.23% |
Max Drawdown (10Y)Largest decline over 10 years | -92.89% | -29.57% | -63.32% |
Current DrawdownCurrent decline from peak | -92.64% | -8.99% | -83.65% |
Average DrawdownAverage peak-to-trough decline | -43.97% | -11.06% | -32.91% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 13.22% | 4.50% | +8.72% |
Volatility
TMF vs. BRK-B - Volatility Comparison
Direxion Daily 20+ Year Treasury Bull 3X ETF (TMF) has a higher volatility of 7.53% compared to Berkshire Hathaway Inc. (BRK-B) at 4.42%. This indicates that TMF's price experiences larger fluctuations and is considered to be riskier than BRK-B based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| TMF | BRK-B | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.53% | 4.42% | +3.11% |
Volatility (6M)Calculated over the trailing 6-month period | 19.87% | 11.07% | +8.80% |
Volatility (1Y)Calculated over the trailing 1-year period | 27.62% | 14.57% | +13.05% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 46.39% | 17.09% | +29.30% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 43.72% | 19.40% | +24.32% |
Dividends
TMF vs. BRK-B - Dividend Comparison
TMF's dividend yield for the trailing twelve months is around 4.44%, while BRK-B has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
BRK-B Berkshire Hathaway Inc. | 0.00% | 0.00% | 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 | 4.44% | 4.06% | 4.29% | 2.82% | 1.62% | 0.13% | 2.23% | 0.94% | 1.49% | 0.41% |
Frequently Asked Questions
TMF and BRK-B have a correlation of 0.02, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
TMF has higher volatility (7.53%) compared to BRK-B (4.42%). In terms of maximum drawdown, TMF dropped -92.89% vs BRK-B's -53.86%.
BRK-B currently has the higher Sharpe Ratio (0.25 vs -0.16), 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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