TMF vs. TARK
TMF (Direxion Daily 20+ Year Treasury Bull 3X ETF) and TARK (Tradr 2X Long Innovation ETF) are both exchange-traded funds - TMF is a Leveraged Bonds fund tracking the ICE U.S. Treasury 20+ Year Bond Index (300%), while TARK is a Leveraged Equities fund actively managed by AXS. TMF is passively managed, while TARK is actively managed. Over the past 3 years, TMF returned -20.78%/yr vs 20.81%/yr for TARK. At a 0.15 correlation, their price movements are largely independent. TMF charges 1.01%/yr vs 1.15%/yr for TARK.
Performance
TMF vs. TARK - Performance Comparison
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Returns By Period
The year-to-date returns for both investments are quite close, with TMF having a -6.13% return and TARK slightly higher at -5.86%.
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%
TARK
- 1D
- -4.26%
- 1M
- -1.29%
- YTD
- -5.86%
- 6M
- -15.22%
- 1Y
- 48.05%
- 3Y*
- 20.81%
- 5Y*
- —
- 10Y*
- —
TMF vs. TARK - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
TMF Direxion Daily 20+ Year Treasury Bull 3X ETF | -6.13% | -2.94% | -35.95% | -13.01% | -43.39% |
TARK Tradr 2X Long Innovation ETF | -5.86% | 41.00% | -4.85% | 121.37% | -73.35% |
Correlation
The correlation between TMF and TARK 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 |
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Return for Risk
TMF vs. TARK — Risk / Return Rank
TMF
TARK
TMF vs. TARK - 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 Tradr 2X Long Innovation ETF (TARK). 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.
| TMF | TARK | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.64 | ||
| Sortino ratioReturn per unit of downside risk | -1.10 | ||
| Omega ratioGain probability vs. loss probability | 1.03 | 1.16 | -0.13 |
| Calmar ratioReturn relative to maximum drawdown | 0.03 | 0.84 | -0.80 |
| Martin ratioReturn relative to average drawdown | 0.08 | 1.64 | -1.57 |
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
| TMF | TARK | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.03 | 0.67 | -0.64 |
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 | -0.14 | -0.08 | -0.06 |
Drawdowns
TMF vs. TARK - Drawdown Comparison
The maximum TMF drawdown since its inception was -92.89%, which is greater than TARK's maximum drawdown of -77.82%. Use the drawdown chart below to compare losses from any high point for TMF and TARK.
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Drawdown Indicators
| TMF | TARK | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -92.89% | -77.82% | -15.07% |
Max Drawdown (1Y)Largest decline over 1 year | -26.51% | -57.57% | +31.06% |
Max Drawdown (3Y)Largest decline over 3 years | -56.31% | -65.55% | +9.24% |
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 | -92.23% | -38.05% | -54.18% |
Average DrawdownAverage peak-to-trough decline | -43.63% | -50.98% | +7.35% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 11.49% | 29.31% | -17.82% |
Volatility
TMF vs. TARK - Volatility Comparison
The current volatility for Direxion Daily 20+ Year Treasury Bull 3X ETF (TMF) is 8.09%, while Tradr 2X Long Innovation ETF (TARK) has a volatility of 18.24%. This indicates that TMF experiences smaller price fluctuations and is considered to be less risky than TARK based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| TMF | TARK | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.09% | 18.24% | -10.15% |
Volatility (6M)Calculated over the trailing 6-month period | 19.01% | 49.96% | -30.95% |
Volatility (1Y)Calculated over the trailing 1-year period | 28.76% | 71.80% | -43.04% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 46.75% | 90.58% | -43.83% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 43.92% | 90.58% | -46.66% |
TMF vs. TARK - Expense Ratio Comparison
TMF has a 1.01% expense ratio, which is lower than TARK's 1.15% expense ratio.
Dividends
TMF vs. TARK - Dividend Comparison
TMF's dividend yield for the trailing twelve months is around 4.15%, less than TARK's 31.86% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
TARK Tradr 2X Long Innovation ETF | 31.86% | 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 ETF | 4.15% | 4.06% | 4.29% | 2.82% | 1.62% | 0.13% | 2.23% | 0.94% | 1.49% | 0.41% |
Frequently Asked Questions
TMF and TARK 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.
TARK has higher volatility (18.24%) compared to TMF (8.09%). In terms of maximum drawdown, TMF dropped -92.89% vs TARK's -77.82%.
On 3-year performance, TARK leads with 20.81% vs -20.78% for TMF. On fees, TMF is cheaper at 1.01% per year. On volatility, TMF has been the lower-risk option at 8.09%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, TARK has performed better with a 20.81% return vs -20.78%. 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 1.15% for TARK.
TARK has the higher dividend yield at 31.86%, compared with 4.15% for TMF.
TMF is categorized as Leveraged Bonds, while TARK is Leveraged Equities. They also come from different issuers: Direxion and AXS. Their fees differ too: 1.01% for TMF and 1.15% for TARK.
TARK currently has the higher Sharpe Ratio (0.67 vs 0.03), 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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