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TMV vs. TMF
Performance
Risk-Adjusted Performance
Dividends
Drawdowns
Volatility

Correlation

The correlation between TMV and TMF 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.


-0.50.00.51.0
Correlation: 0.3

Performance

TMV vs. TMF - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Direxion Daily 20-Year Treasury Bear 3X (TMV) and Direxion Daily 20-Year Treasury Bull 3X (TMF). The values are adjusted to include any dividend payments, if applicable.

-100.00%-90.00%-80.00%-70.00%-60.00%-50.00%NovemberDecember2025FebruaryMarchApril
-94.56%
-61.51%
TMV
TMF

Key characteristics

Sharpe Ratio

TMV:

-0.10

TMF:

-0.16

Sortino Ratio

TMV:

0.16

TMF:

0.06

Omega Ratio

TMV:

1.02

TMF:

1.01

Calmar Ratio

TMV:

-0.04

TMF:

-0.08

Martin Ratio

TMV:

-0.24

TMF:

-0.30

Ulcer Index

TMV:

18.19%

TMF:

23.34%

Daily Std Dev

TMV:

42.79%

TMF:

42.72%

Max Drawdown

TMV:

-99.06%

TMF:

-92.11%

Current Drawdown

TMV:

-96.58%

TMF:

-91.28%

Returns By Period

In the year-to-date period, TMV achieves a -6.30% return, which is significantly lower than TMF's 2.29% return. Over the past 10 years, TMV has outperformed TMF with an annualized return of -5.48%, while TMF has yielded a comparatively lower -14.18% annualized return.


TMV

YTD

-6.30%

1M

2.97%

6M

7.36%

1Y

-6.91%

5Y*

27.41%

10Y*

-5.48%

TMF

YTD

2.29%

1M

-5.12%

6M

-13.08%

1Y

-4.36%

5Y*

-37.16%

10Y*

-14.18%

*Annualized

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TMV vs. TMF - Expense Ratio Comparison

TMV has a 1.04% expense ratio, which is lower than TMF's 1.09% expense ratio.


Expense ratio chart for TMF: current value is 1.09%, compared with the broader market range of 0.00% to 2.12%.0.50%1.00%1.50%2.00%
TMF: 1.09%
Expense ratio chart for TMV: current value is 1.04%, compared with the broader market range of 0.00% to 2.12%.0.50%1.00%1.50%2.00%
TMV: 1.04%

Risk-Adjusted Performance

TMV vs. TMF — Risk-Adjusted Performance Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

TMV
The Risk-Adjusted Performance Rank of TMV is 1919
Overall Rank
The Sharpe Ratio Rank of TMV is 1717
Sharpe Ratio Rank
The Sortino Ratio Rank of TMV is 2323
Sortino Ratio Rank
The Omega Ratio Rank of TMV is 2121
Omega Ratio Rank
The Calmar Ratio Rank of TMV is 1818
Calmar Ratio Rank
The Martin Ratio Rank of TMV is 1717
Martin Ratio Rank

TMF
The Risk-Adjusted Performance Rank of TMF is 1717
Overall Rank
The Sharpe Ratio Rank of TMF is 1414
Sharpe Ratio Rank
The Sortino Ratio Rank of TMF is 1818
Sortino Ratio Rank
The Omega Ratio Rank of TMF is 1818
Omega Ratio Rank
The Calmar Ratio Rank of TMF is 1616
Calmar Ratio Rank
The Martin Ratio Rank of TMF is 1616
Martin Ratio Rank
The risk-adjusted ranks indicate the investment's position relative to the market. A rank closer to 100 signifies top-performing investments, while a rank closer to 0 might suggest underperformance, based on the selected ratio. The values are calculated based on the past 12 months of returns.

TMV vs. TMF - Risk-Adjusted Performance Comparison

This table presents a comparison of risk-adjusted performance metrics for Direxion Daily 20-Year Treasury Bear 3X (TMV) and Direxion Daily 20-Year Treasury Bull 3X (TMF). 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.


The chart of Sharpe ratio for TMV, currently valued at -0.10, compared to the broader market-1.000.001.002.003.004.00
TMV: -0.10
TMF: -0.16
The chart of Sortino ratio for TMV, currently valued at 0.16, compared to the broader market-2.000.002.004.006.008.00
TMV: 0.16
TMF: 0.06
The chart of Omega ratio for TMV, currently valued at 1.02, compared to the broader market0.501.001.502.002.50
TMV: 1.02
TMF: 1.01
The chart of Calmar ratio for TMV, currently valued at -0.04, compared to the broader market0.002.004.006.008.0010.0012.00
TMV: -0.04
TMF: -0.08
The chart of Martin ratio for TMV, currently valued at -0.24, compared to the broader market0.0020.0040.0060.00
TMV: -0.24
TMF: -0.30

The current TMV Sharpe Ratio is -0.10, which is higher than the TMF Sharpe Ratio of -0.16. The chart below compares the historical Sharpe Ratios of TMV and TMF, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.


Rolling 12-month Sharpe Ratio-1.00-0.500.000.501.00NovemberDecember2025FebruaryMarchApril
-0.10
-0.16
TMV
TMF

Dividends

TMV vs. TMF - Dividend Comparison

TMV's dividend yield for the trailing twelve months is around 3.51%, less than TMF's 4.14% yield.


TTM20242023202220212020201920182017
TMV
Direxion Daily 20-Year Treasury Bear 3X
3.51%3.42%3.87%0.00%0.00%0.52%2.24%0.88%0.00%
TMF
Direxion Daily 20-Year Treasury Bull 3X
4.14%4.29%2.82%1.62%0.13%2.23%0.94%1.49%0.41%

Drawdowns

TMV vs. TMF - Drawdown Comparison

The maximum TMV drawdown since its inception was -99.06%, which is greater than TMF's maximum drawdown of -92.11%. Use the drawdown chart below to compare losses from any high point for TMV and TMF. For additional features, visit the drawdowns tool.


-98.00%-96.00%-94.00%-92.00%-90.00%NovemberDecember2025FebruaryMarchApril
-96.58%
-91.28%
TMV
TMF

Volatility

TMV vs. TMF - Volatility Comparison

Direxion Daily 20-Year Treasury Bear 3X (TMV) and Direxion Daily 20-Year Treasury Bull 3X (TMF) have volatilities of 17.35% and 18.20%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.


8.00%10.00%12.00%14.00%16.00%18.00%NovemberDecember2025FebruaryMarchApril
17.35%
18.20%
TMV
TMF