TMF vs. VT
TMF (Direxion Daily 20+ Year Treasury Bull 3X ETF) and VT (Vanguard Total World Stock ETF) are both exchange-traded funds - TMF is a Leveraged Bonds fund tracking the ICE U.S. Treasury 20+ Year Bond Index (300%), while VT is a Global Equities fund tracking the FTSE Global All Cap Index. Both are passively managed. Over the past 10 years, TMF returned -17.99%/yr vs 12.25%/yr for VT. At a correlation of -0.23, they often move in opposite directions. TMF charges 1.01%/yr vs 0.06%/yr for VT.
Performance
TMF vs. VT - 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 VT's 10.03% return. Over the past 10 years, TMF has underperformed VT with an annualized return of -17.99%, while VT has yielded a comparatively higher 12.25% 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%
VT
- 1D
- -0.32%
- 1M
- -2.14%
- 6M
- 7.09%
- YTD
- 10.03%
- 1Y
- 20.89%
- 3Y*
- 18.12%
- 5Y*
- 10.45%
- 10Y*
- 12.25%
- ALL TIME*
- 8.76%
TMF vs. VT - 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% |
VT Vanguard Total World Stock ETF | 10.03% | 22.43% | 16.49% | 22.02% | -18.00% | 18.27% | 16.59% | 26.81% | -9.76% | 24.50% |
Correlation
The correlation between TMF and VT is 0.27, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.27 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.22 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.11 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.06 |
Correlation (All Time) Calculated using the full available price history since Apr 16, 2009 | -0.23 |
The correlation between TMF and VT shifts across timeframes, from -0.23 (all time) to 0.27 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
TMF vs. VT — Risk / Return Rank
TMF
VT
TMF vs. VT - 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 Vanguard Total World Stock ETF (VT). 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 | VT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.69 | ||
| Sortino ratioReturn per unit of downside risk | -2.18 | ||
| Omega ratioGain probability vs. loss probability | 1.00 | 1.28 | -0.28 |
| Calmar ratioReturn relative to maximum drawdown | -0.16 | 2.17 | -2.33 |
| Martin ratioReturn relative to average drawdown | -0.32 | 9.18 | -9.50 |
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Drawdowns
TMF vs. VT - Drawdown Comparison
The maximum TMF drawdown since its inception was -92.89%, which is greater than VT's maximum drawdown of -50.27%. Use the drawdown chart below to compare losses from any high point for TMF and VT.
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Drawdown Indicators
| TMF | VT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -92.89% | -50.27% | -42.62% |
Max Drawdown (1Y)Largest decline over 1 year | -26.51% | -9.67% | -16.84% |
Max Drawdown (3Y)Largest decline over 3 years | -53.47% | -16.51% | -36.96% |
Max Drawdown (5Y)Largest decline over 5 years | -88.81% | -26.38% | -62.43% |
Max Drawdown (10Y)Largest decline over 10 years | -92.89% | -34.24% | -58.65% |
Current DrawdownCurrent decline from peak | -92.64% | -2.83% | -89.81% |
Average DrawdownAverage peak-to-trough decline | -43.97% | -6.98% | -36.99% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 13.22% | 2.28% | +10.94% |
Volatility
TMF vs. VT - Volatility Comparison
Direxion Daily 20+ Year Treasury Bull 3X ETF (TMF) has a higher volatility of 7.53% compared to Vanguard Total World Stock ETF (VT) at 3.89%. This indicates that TMF's price experiences larger fluctuations and is considered to be riskier than VT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| TMF | VT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.53% | 3.89% | +3.64% |
Volatility (6M)Calculated over the trailing 6-month period | 19.87% | 11.53% | +8.34% |
Volatility (1Y)Calculated over the trailing 1-year period | 27.62% | 13.73% | +13.89% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 46.39% | 16.18% | +30.21% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 43.72% | 17.16% | +26.56% |
TMF vs. VT - Expense Ratio Comparison
TMF has a 1.01% expense ratio, which is higher than VT's 0.06% expense ratio.
Dividends
TMF vs. VT - Dividend Comparison
TMF's dividend yield for the trailing twelve months is around 4.44%, more than VT's 1.61% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% | 0.00% | 0.00% |
VT Vanguard Total World Stock ETF | 1.61% | 1.82% | 1.95% | 2.08% | 2.20% | 1.82% | 1.66% | 2.32% | 2.53% | 2.11% | 2.39% | 2.45% |
Frequently Asked Questions
TMF and VT have a correlation of 0.27, 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 VT (3.89%). In terms of maximum drawdown, TMF dropped -92.89% vs VT's -50.27%.
On 10-year performance, VT leads with 12.25% vs -17.99% for TMF. On fees, VT is cheaper at 0.06% per year. On volatility, VT has been the lower-risk option at 3.89%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, VT has performed better with a 12.25% return vs -17.99%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
VT is cheaper with a 0.06% expense ratio, compared with 1.01% for TMF.
TMF has the higher dividend yield at 4.44%, compared with 1.61% for VT.
TMF is categorized as Leveraged Bonds, while VT is Global Equities. TMF tracks ICE U.S. Treasury 20+ Year Bond Index (300%), while VT tracks FTSE Global All Cap Index. They also come from different issuers: Direxion and Vanguard. Their fees differ too: 1.01% for TMF and 0.06% for VT.
VT currently has the higher Sharpe Ratio (1.53 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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