TMV vs. TSYW
TMV (Direxion Daily 20-Year Treasury Bear 3X) and TSYW (Roundhill Treasury Bond WeeklyPay ETF) are both Leveraged Bonds funds. TMV is passively managed, while TSYW is actively managed. At a correlation of -0.98, they often move in opposite directions. TMV charges 1.04%/yr vs 0.99%/yr for TSYW.
Performance
TMV vs. TSYW - Performance Comparison
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Returns By Period
In the year-to-date period, TMV achieves a 4.73% return, which is significantly higher than TSYW's -2.14% return.
TMV
- 1D
- 1.13%
- 1M
- -1.68%
- YTD
- 4.73%
- 6M
- 11.42%
- 1Y
- -4.33%
- 3Y*
- 12.83%
- 5Y*
- 19.12%
- 10Y*
- -0.80%
TSYW
- 1D
- -0.50%
- 1M
- 0.63%
- YTD
- -2.14%
- 6M
- -4.49%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
TMV vs. TSYW - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
TMV Direxion Daily 20-Year Treasury Bear 3X | 4.73% | 7.37% |
TSYW Roundhill Treasury Bond WeeklyPay ETF | -2.14% | -2.56% |
Correlation
The correlation between TMV and TSYW is -0.98, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Nov 14, 2025 | -0.98 |
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Return for Risk
TMV vs. TSYW — Risk / Return Rank
TMV
TSYW
TMV vs. TSYW - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Direxion Daily 20-Year Treasury Bear 3X (TMV) and Roundhill Treasury Bond WeeklyPay ETF (TSYW). 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 | TSYW | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 1.00 | — | — |
| Calmar ratioReturn relative to maximum drawdown | -0.20 | — | — |
| Martin ratioReturn relative to average drawdown | -0.40 | — | — |
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 | TSYW | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.15 | — | — |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.41 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | -0.02 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.33 | -0.78 | +0.45 |
Drawdowns
TMV vs. TSYW - Drawdown Comparison
The maximum TMV drawdown since its inception was -98.96%, which is greater than TSYW's maximum drawdown of -9.79%. Use the drawdown chart below to compare losses from any high point for TMV and TSYW.
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Drawdown Indicators
| TMV | TSYW | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -98.96% | -9.79% | -89.17% |
Max Drawdown (1Y)Largest decline over 1 year | -21.62% | — | — |
Max Drawdown (3Y)Largest decline over 3 years | -48.49% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -48.49% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -82.31% | — | — |
Current DrawdownCurrent decline from peak | -95.94% | -6.51% | -89.43% |
Average DrawdownAverage peak-to-trough decline | -86.60% | -3.99% | -82.61% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 11.13% | — | — |
Volatility
TMV vs. TSYW - Volatility Comparison
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Volatility by Period
| TMV | TSYW | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.15% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 19.18% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 29.12% | 10.78% | +18.34% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 47.21% | 10.78% | +36.43% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 44.44% | 10.78% | +33.66% |
TMV vs. TSYW - Expense Ratio Comparison
TMV has a 1.04% expense ratio, which is higher than TSYW's 0.99% expense ratio.
Dividends
TMV vs. TSYW - Dividend Comparison
TMV's dividend yield for the trailing twelve months is around 2.62%, less than TSYW's 7.44% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
TMV Direxion Daily 20-Year Treasury Bear 3X | 2.62% | 2.85% | 3.41% | 3.87% | 0.00% | 0.00% | 0.37% | 1.60% | 0.62% |
TSYW Roundhill Treasury Bond WeeklyPay ETF | 7.44% | 1.63% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
TMV and TSYW have a correlation of -0.98, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, TSYW is cheaper at 0.99% per year. The better choice depends on whether you care most about return, fees, risk, or income.
TSYW is cheaper with a 0.99% expense ratio, compared with 1.04% for TMV.
TSYW has the higher dividend yield at 7.44%, compared with 2.62% for TMV.
They also come from different issuers: Direxion and Roundhill. Their fees differ too: 1.04% for TMV and 0.99% for TSYW.
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