TMF vs. TMV
Compare and contrast key facts about Direxion Daily 20-Year Treasury Bull 3X (TMF) and Direxion Daily 20-Year Treasury Bear 3X (TMV).
TMF and TMV are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. TMF is a passively managed fund by Direxion that tracks the performance of the NYSE 20 Year Plus Treasury Bond Index (300%). It was launched on Apr 16, 2009. TMV is a passively managed fund by Direxion that tracks the performance of the NYSE 20 Year Plus Treasury Bond Index (-300%). It was launched on Apr 16, 2009. Both TMF and TMV are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: TMF or TMV.
Key characteristics
| TMF | TMV | |
|---|---|---|
| YTD Return | -27.25% | 32.45% |
| 1Y Return | -44.08% | 48.26% |
| 3Y Return (Ann) | -41.22% | 30.25% |
| 5Y Return (Ann) | -24.66% | -0.35% |
| 10Y Return (Ann) | -10.27% | -10.46% |
| Sharpe Ratio | -0.93 | 1.07 |
| Daily Std Dev | 48.87% | 49.45% |
| Max Drawdown | -92.18% | -99.06% |
| Current Drawdown | -90.48% | -96.54% |
Correlation
The correlation between TMF and TMV is -1.00. This indicates that the assets' prices tend to move in opposite directions. Negative correlation can be particularly beneficial for diversification and risk management, as one asset may offset the losses of the other during market fluctuations.
Performance
TMF vs. TMV - Performance Comparison
In the year-to-date period, TMF achieves a -27.25% return, which is significantly lower than TMV's 32.45% return. Both investments have delivered pretty close results over the past 10 years, with TMF having a -10.27% annualized return and TMV not far behind at -10.46%. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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TMF vs. TMV - Expense Ratio Comparison
TMF has a 1.09% expense ratio, which is higher than TMV's 1.04% expense ratio.
Risk-Adjusted Performance
TMF vs. TMV - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Direxion Daily 20-Year Treasury Bull 3X (TMF) and Direxion Daily 20-Year Treasury Bear 3X (TMV). 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.
Dividends
TMF vs. TMV - Dividend Comparison
TMF's dividend yield for the trailing twelve months is around 3.84%, more than TMV's 3.47% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
TMF Direxion Daily 20-Year Treasury Bull 3X | 3.84% | 2.82% | 1.62% | 0.13% | 0.48% | 0.94% | 1.49% | 0.41% | 0.00% | 0.00% | 0.00% | 0.57% |
TMV Direxion Daily 20-Year Treasury Bear 3X | 3.47% | 3.87% | 0.00% | 0.00% | 0.52% | 2.25% | 0.89% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Drawdowns
TMF vs. TMV - Drawdown Comparison
The maximum TMF drawdown since its inception was -92.18%, smaller than the maximum TMV drawdown of -99.06%. Use the drawdown chart below to compare losses from any high point for TMF and TMV. For additional features, visit the drawdowns tool.
Volatility
TMF vs. TMV - Volatility Comparison
Direxion Daily 20-Year Treasury Bull 3X (TMF) and Direxion Daily 20-Year Treasury Bear 3X (TMV) have volatilities of 12.54% and 12.21%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.