TMF vs. YINN
TMF (Direxion Daily 20+ Year Treasury Bull 3X ETF) and YINN (Direxion Daily China 3x Bull Shares) are both exchange-traded funds - TMF is a Leveraged Bonds fund tracking the ICE U.S. Treasury 20+ Year Bond Index (300%), while YINN is a China Equities fund tracking the FTSE China 50 Index (300%). Both are passively managed. Over the past 10 years, TMF returned -18.08%/yr vs -20.67%/yr for YINN. At a correlation of -0.19, they often move in opposite directions. TMF charges 1.01%/yr vs 1.52%/yr for YINN.
Performance
TMF vs. YINN - Performance Comparison
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Returns By Period
In the year-to-date period, TMF achieves a -11.93% return, which is significantly higher than YINN's -33.90% return. Over the past 10 years, TMF has outperformed YINN with an annualized return of -18.08%, while YINN has yielded a comparatively lower -20.67% annualized return.
TMF
- 1D
- -1.01%
- 1M
- -10.16%
- 6M
- -9.78%
- YTD
- -11.93%
- 1Y
- -7.67%
- 3Y*
- -21.85%
- 5Y*
- -34.00%
- 10Y*
- -18.08%
- ALL TIME*
- -6.40%
YINN
- 1D
- -3.53%
- 1M
- 9.93%
- 6M
- -35.93%
- YTD
- -33.90%
- 1Y
- -37.98%
- 3Y*
- -5.40%
- 5Y*
- -37.22%
- 10Y*
- -20.67%
- ALL TIME*
- -17.54%
TMF vs. YINN - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
TMF Direxion Daily 20+ Year Treasury Bull 3X ETF | -11.93% | -2.94% | -35.95% | -13.01% | -72.60% | -19.80% | 39.02% | 34.75% | -11.01% | 22.72% |
YINN Direxion Daily China 3x Bull Shares | -33.90% | 54.21% | 36.06% | -53.08% | -71.97% | -58.56% | -7.75% | 28.92% | -48.47% | 129.79% |
Correlation
The correlation between TMF and YINN is 0.07, 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 | 0.07 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.06 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.02 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.07 |
Correlation (All Time) Calculated using the full available price history since Dec 3, 2009 | -0.19 |
The correlation between TMF and YINN shifts across timeframes, from -0.19 (all time) to 0.07 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
TMF vs. YINN — Risk / Return Rank
TMF
YINN
TMF vs. YINN - 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 Direxion Daily China 3x Bull Shares (YINN). 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 | YINN | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.36 | ||
| Sortino ratioReturn per unit of downside risk | +0.47 | ||
| Omega ratioGain probability vs. loss probability | 0.98 | 0.92 | +0.06 |
| Calmar ratioReturn relative to maximum drawdown | -0.29 | -0.62 | +0.33 |
| Martin ratioReturn relative to average drawdown | -0.58 | -1.23 | +0.65 |
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Drawdowns
TMF vs. YINN - Drawdown Comparison
The maximum TMF drawdown since its inception was -92.89%, smaller than the maximum YINN drawdown of -98.87%. Use the drawdown chart below to compare losses from any high point for TMF and YINN.
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Drawdown Indicators
| TMF | YINN | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -92.89% | -98.87% | +5.98% |
Max Drawdown (1Y)Largest decline over 1 year | -26.51% | -61.64% | +35.13% |
Max Drawdown (3Y)Largest decline over 3 years | -53.47% | -69.08% | +15.61% |
Max Drawdown (5Y)Largest decline over 5 years | -88.81% | -94.93% | +6.12% |
Max Drawdown (10Y)Largest decline over 10 years | -92.89% | -98.59% | +5.70% |
Current DrawdownCurrent decline from peak | -92.71% | -97.66% | +4.95% |
Average DrawdownAverage peak-to-trough decline | -43.98% | -68.69% | +24.71% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 13.32% | 30.89% | -17.57% |
Volatility
TMF vs. YINN - Volatility Comparison
The current volatility for Direxion Daily 20+ Year Treasury Bull 3X ETF (TMF) is 7.32%, while Direxion Daily China 3x Bull Shares (YINN) has a volatility of 18.40%. This indicates that TMF experiences smaller price fluctuations and is considered to be less risky than YINN based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| TMF | YINN | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.32% | 18.40% | -11.08% |
Volatility (6M)Calculated over the trailing 6-month period | 19.81% | 43.29% | -23.48% |
Volatility (1Y)Calculated over the trailing 1-year period | 27.58% | 59.89% | -32.31% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 46.37% | 94.28% | -47.91% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 43.72% | 81.59% | -37.87% |
TMF vs. YINN - Expense Ratio Comparison
TMF has a 1.01% expense ratio, which is lower than YINN's 1.52% expense ratio.
Dividends
TMF vs. YINN - Dividend Comparison
TMF's dividend yield for the trailing twelve months is around 4.48%, more than YINN's 1.35% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
TMF Direxion Daily 20+ Year Treasury Bull 3X ETF | 4.48% | 4.06% | 4.29% | 2.82% | 1.62% | 0.13% | 2.23% | 0.94% | 1.49% | 0.41% |
YINN Direxion Daily China 3x Bull Shares | 1.35% | 1.12% | 1.81% | 4.17% | 1.16% | 0.73% | 0.76% | 1.38% | 1.02% | 1.11% |
Frequently Asked Questions
TMF and YINN have a correlation of 0.07, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
YINN has higher volatility (18.40%) compared to TMF (7.32%). In terms of maximum drawdown, TMF dropped -92.89% vs YINN's -98.87%.
On 10-year performance, TMF leads with -18.08% vs -20.67% for YINN. On fees, TMF is cheaper at 1.01% per year. On volatility, TMF has been the lower-risk option at 7.32%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, TMF has performed better with a -18.08% return vs -20.67%. 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 1.52% for YINN.
TMF has the higher dividend yield at 4.48%, compared with 1.35% for YINN.
TMF is categorized as Leveraged Bonds, while YINN is China Equities. TMF tracks ICE U.S. Treasury 20+ Year Bond Index (300%), while YINN tracks FTSE China 50 Index (300%). Their fees differ too: 1.01% for TMF and 1.52% for YINN.
TMF currently has the higher Sharpe Ratio (-0.28 vs -0.64), 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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