TMV vs. AGNC
Compare and contrast key facts about Direxion Daily 20-Year Treasury Bear 3X (TMV) and AGNC Investment Corp. (AGNC).
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.
Performance
TMV vs. AGNC - Performance Comparison
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TMV vs. AGNC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
TMV Direxion Daily 20-Year Treasury Bear 3X | 1.80% | -3.75% | 39.76% | -9.69% | 150.18% | 0.83% | -54.13% | -34.22% | 3.99% | -26.48% |
AGNC AGNC Investment Corp. | -3.40% | 34.92% | 8.90% | 10.14% | -21.65% | 5.20% | -1.78% | 13.31% | -2.46% | 23.73% |
Returns By Period
In the year-to-date period, TMV achieves a 1.80% return, which is significantly higher than AGNC's -3.40% return. Over the past 10 years, TMV has underperformed AGNC with an annualized return of -1.91%, while AGNC has yielded a comparatively higher 6.23% annualized return.
TMV
- 1D
- 0.24%
- 1M
- 11.13%
- YTD
- 1.80%
- 6M
- 9.01%
- 1Y
- 13.68%
- 3Y*
- 15.84%
- 5Y*
- 16.73%
- 10Y*
- -1.91%
AGNC
- 1D
- -0.10%
- 1M
- -9.03%
- YTD
- -3.40%
- 6M
- 7.97%
- 1Y
- 21.99%
- 3Y*
- 15.79%
- 5Y*
- 2.93%
- 10Y*
- 6.23%
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Return for Risk
TMV vs. AGNC — Risk / Return Rank
TMV
AGNC
TMV vs. AGNC - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Direxion Daily 20-Year Treasury Bear 3X (TMV) and AGNC Investment Corp. (AGNC). 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.
| TMV | AGNC | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.40 | 0.97 | -0.56 |
Sortino ratioReturn per unit of downside risk | 0.84 | 1.34 | -0.50 |
Omega ratioGain probability vs. loss probability | 1.09 | 1.19 | -0.10 |
Calmar ratioReturn relative to maximum drawdown | 0.43 | 1.11 | -0.68 |
Martin ratioReturn relative to average drawdown | 0.76 | 3.75 | -2.99 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| TMV | AGNC | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.40 | 0.97 | -0.56 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.36 | 0.11 | +0.24 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | -0.04 | 0.25 | -0.29 |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.33 | 0.42 | -0.75 |
Correlation
The correlation between TMV and AGNC is -0.06. 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.
Dividends
TMV vs. AGNC - Dividend Comparison
TMV's dividend yield for the trailing twelve months is around 2.69%, less than AGNC's 14.37% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
TMV Direxion Daily 20-Year Treasury Bear 3X | 2.69% | 2.85% | 3.41% | 3.87% | 0.00% | 0.00% | 0.37% | 1.60% | 0.62% | 0.00% | 0.00% | 0.00% |
AGNC AGNC Investment Corp. | 14.37% | 13.43% | 15.64% | 14.68% | 13.91% | 9.57% | 10.00% | 11.31% | 12.31% | 10.70% | 12.69% | 14.30% |
Drawdowns
TMV vs. AGNC - Drawdown Comparison
The maximum TMV drawdown since its inception was -98.96%, which is greater than AGNC's maximum drawdown of -54.56%. Use the drawdown chart below to compare losses from any high point for TMV and AGNC.
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Drawdown Indicators
| TMV | AGNC | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -98.96% | -54.56% | -44.40% |
Max Drawdown (1Y)Largest decline over 1 year | -25.01% | -18.71% | -6.30% |
Max Drawdown (5Y)Largest decline over 5 years | -48.49% | -54.56% | +6.07% |
Max Drawdown (10Y)Largest decline over 10 years | -82.31% | -54.56% | -27.75% |
Current DrawdownCurrent decline from peak | -96.05% | -14.91% | -81.14% |
Average DrawdownAverage peak-to-trough decline | -86.50% | -13.60% | -72.90% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 14.05% | 5.55% | +8.50% |
Volatility
TMV vs. AGNC - Volatility Comparison
Direxion Daily 20-Year Treasury Bear 3X (TMV) has a higher volatility of 10.96% compared to AGNC Investment Corp. (AGNC) at 9.58%. This indicates that TMV's price experiences larger fluctuations and is considered to be riskier than AGNC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| TMV | AGNC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 10.96% | 9.58% | +1.38% |
Volatility (6M)Calculated over the trailing 6-month period | 19.57% | 15.07% | +4.50% |
Volatility (1Y)Calculated over the trailing 1-year period | 34.04% | 22.88% | +11.16% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 47.26% | 25.71% | +21.55% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 44.52% | 25.31% | +19.21% |