TMV vs. TTT
Compare and contrast key facts about Direxion Daily 20-Year Treasury Bear 3X (TMV) and UltraPro Short 20+ Year Treasury (TTT).
TMV and TTT are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. 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. TTT is a passively managed fund by ProShares that tracks the performance of the Barclays Capital U.S. 20+ Year Treasury Index (-300%). It was launched on Mar 27, 2012. Both TMV and TTT are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: TMV or TTT.
Key characteristics
| TMV | TTT | |
|---|---|---|
| YTD Return | 37.69% | 36.47% |
| 1Y Return | 56.18% | 57.58% |
| 3Y Return (Ann) | 31.07% | 31.81% |
| 5Y Return (Ann) | 0.43% | 0.71% |
| 10Y Return (Ann) | -10.07% | -9.35% |
| Sharpe Ratio | 0.90 | 0.93 |
| Daily Std Dev | 49.92% | 49.99% |
| Max Drawdown | -99.06% | -94.00% |
| Current Drawdown | -96.40% | -76.74% |
Correlation
The correlation between TMV and TTT is 0.99, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Performance
TMV vs. TTT - Performance Comparison
The year-to-date returns for both stocks are quite close, with TMV having a 37.69% return and TTT slightly lower at 36.47%. Over the past 10 years, TMV has underperformed TTT with an annualized return of -10.07%, while TTT has yielded a comparatively higher -9.35% annualized return. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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TMV vs. TTT - Expense Ratio Comparison
TMV has a 1.04% expense ratio, which is higher than TTT's 0.95% expense ratio.
Risk-Adjusted Performance
TMV vs. TTT - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Direxion Daily 20-Year Treasury Bear 3X (TMV) and UltraPro Short 20+ Year Treasury (TTT). 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.
Dividends
TMV vs. TTT - Dividend Comparison
TMV's dividend yield for the trailing twelve months is around 3.33%, less than TTT's 11.00% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|
TMV Direxion Daily 20-Year Treasury Bear 3X | 3.33% | 3.87% | 0.00% | 0.00% | 0.52% | 2.25% | 0.89% |
TTT UltraPro Short 20+ Year Treasury | 11.00% | 15.39% | 0.34% | 0.00% | 0.29% | 1.88% | 0.44% |
Drawdowns
TMV vs. TTT - Drawdown Comparison
The maximum TMV drawdown since its inception was -99.06%, which is greater than TTT's maximum drawdown of -94.00%. Use the drawdown chart below to compare losses from any high point for TMV and TTT. For additional features, visit the drawdowns tool.
Volatility
TMV vs. TTT - Volatility Comparison
Direxion Daily 20-Year Treasury Bear 3X (TMV) and UltraPro Short 20+ Year Treasury (TTT) have volatilities of 11.82% and 12.02%, 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.