TMF vs. UPRO
Compare and contrast key facts about Direxion Daily 20-Year Treasury Bull 3X (TMF) and ProShares UltraPro S&P 500 (UPRO).
TMF and UPRO 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. UPRO is a passively managed fund by ProShares that tracks the performance of the S&P 500 Index (300%). It was launched on Jun 23, 2009. Both TMF and UPRO 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 UPRO.
Performance
TMF vs. UPRO - Performance Comparison
Returns By Period
In the year-to-date period, TMF achieves a -29.04% return, which is significantly lower than UPRO's 68.83% return. Over the past 10 years, TMF has underperformed UPRO with an annualized return of -12.42%, while UPRO has yielded a comparatively higher 24.03% annualized return.
TMF
-29.04%
-6.43%
-7.62%
-8.03%
-30.05%
-12.42%
UPRO
68.83%
2.08%
29.06%
94.05%
24.69%
24.03%
Key characteristics
| TMF | UPRO | |
|---|---|---|
| Sharpe Ratio | -0.18 | 2.54 |
| Sortino Ratio | 0.04 | 2.94 |
| Omega Ratio | 1.00 | 1.40 |
| Calmar Ratio | -0.09 | 2.45 |
| Martin Ratio | -0.37 | 15.24 |
| Ulcer Index | 21.63% | 6.07% |
| Daily Std Dev | 43.56% | 36.39% |
| Max Drawdown | -92.18% | -76.82% |
| Current Drawdown | -90.72% | -4.41% |
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TMF vs. UPRO - Expense Ratio Comparison
TMF has a 1.09% expense ratio, which is higher than UPRO's 0.92% expense ratio.
Correlation
The correlation between TMF and UPRO is -0.28. 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.
Risk-Adjusted Performance
TMF vs. UPRO - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Direxion Daily 20-Year Treasury Bull 3X (TMF) and ProShares UltraPro S&P 500 (UPRO). 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. UPRO - Dividend Comparison
TMF's dividend yield for the trailing twelve months is around 3.76%, more than UPRO's 0.75% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
TMF Direxion Daily 20-Year Treasury Bull 3X | 3.76% | 2.82% | 1.62% | 0.13% | 0.48% | 0.94% | 1.49% | 0.41% | 0.00% | 0.00% | 0.00% | 0.57% |
UPRO ProShares UltraPro S&P 500 | 0.75% | 0.74% | 0.52% | 0.06% | 0.11% | 0.53% | 0.63% | 0.00% | 0.12% | 0.34% | 0.22% | 0.07% |
Drawdowns
TMF vs. UPRO - Drawdown Comparison
The maximum TMF drawdown since its inception was -92.18%, which is greater than UPRO's maximum drawdown of -76.82%. Use the drawdown chart below to compare losses from any high point for TMF and UPRO. For additional features, visit the drawdowns tool.
Volatility
TMF vs. UPRO - Volatility Comparison
Direxion Daily 20-Year Treasury Bull 3X (TMF) has a higher volatility of 13.72% compared to ProShares UltraPro S&P 500 (UPRO) at 12.31%. This indicates that TMF's price experiences larger fluctuations and is considered to be riskier than UPRO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.