Correlation
The correlation between TMF and ^TNX is 0.27, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.
TMF vs. ^TNX
Compare and contrast key facts about Direxion Daily 20-Year Treasury Bull 3X (TMF) and Treasury Yield 10 Years (^TNX).
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.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: TMF or ^TNX.
Performance
TMF vs. ^TNX - Performance Comparison
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Key characteristics
TMF:
-0.49
^TNX:
-0.05
TMF:
-0.30
^TNX:
-0.07
TMF:
0.97
^TNX:
0.99
TMF:
-0.18
^TNX:
-0.06
TMF:
-0.64
^TNX:
-0.35
TMF:
26.47%
^TNX:
9.98%
TMF:
42.90%
^TNX:
22.14%
TMF:
-92.61%
^TNX:
-93.78%
TMF:
-92.27%
^TNX:
-44.38%
Returns By Period
In the year-to-date period, TMF achieves a -9.35% return, which is significantly lower than ^TNX's -2.43% return. Over the past 10 years, TMF has underperformed ^TNX with an annualized return of -13.40%, while ^TNX has yielded a comparatively higher 6.39% annualized return.
TMF
-9.35%
-8.98%
-27.07%
-20.89%
-33.24%
-36.22%
-13.40%
^TNX
-2.43%
3.24%
6.34%
-1.15%
14.70%
42.44%
6.39%
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Risk-Adjusted Performance
TMF vs. ^TNX — Risk-Adjusted Performance Rank
TMF
^TNX
TMF vs. ^TNX - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Direxion Daily 20-Year Treasury Bull 3X (TMF) and Treasury Yield 10 Years (^TNX). 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.
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Drawdowns
TMF vs. ^TNX - Drawdown Comparison
The maximum TMF drawdown since its inception was -92.61%, roughly equal to the maximum ^TNX drawdown of -93.78%. Use the drawdown chart below to compare losses from any high point for TMF and ^TNX.
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Volatility
TMF vs. ^TNX - Volatility Comparison
Direxion Daily 20-Year Treasury Bull 3X (TMF) has a higher volatility of 10.70% compared to Treasury Yield 10 Years (^TNX) at 5.83%. This indicates that TMF's price experiences larger fluctuations and is considered to be riskier than ^TNX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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