TMV vs. ^TNX
Compare and contrast key facts about Direxion Daily 20-Year Treasury Bear 3X (TMV) and Treasury Yield 10 Years (^TNX).
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.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: TMV or ^TNX.
Performance
TMV vs. ^TNX - Performance Comparison
Returns By Period
In the year-to-date period, TMV achieves a 28.60% return, which is significantly higher than ^TNX's 14.64% return. Over the past 10 years, TMV has underperformed ^TNX with an annualized return of -7.99%, while ^TNX has yielded a comparatively higher 6.76% annualized return.
TMV
28.60%
6.38%
0.44%
-2.43%
7.83%
-7.99%
^TNX
14.64%
5.42%
-0.96%
0.36%
20.17%
6.76%
Key characteristics
| TMV | ^TNX | |
|---|---|---|
| Sharpe Ratio | -0.08 | 0.01 |
| Sortino Ratio | 0.20 | 0.19 |
| Omega Ratio | 1.02 | 1.02 |
| Calmar Ratio | -0.03 | 0.01 |
| Martin Ratio | -0.18 | 0.03 |
| Ulcer Index | 19.13% | 11.03% |
| Daily Std Dev | 43.58% | 22.96% |
| Max Drawdown | -99.06% | -93.78% |
| Current Drawdown | -96.64% | -44.76% |
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Correlation
The correlation between TMV and ^TNX is 0.89, 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.
Risk-Adjusted Performance
TMV vs. ^TNX - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Direxion Daily 20-Year Treasury Bear 3X (TMV) 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.
Drawdowns
TMV vs. ^TNX - Drawdown Comparison
The maximum TMV drawdown since its inception was -99.06%, which is greater than ^TNX's maximum drawdown of -93.78%. Use the drawdown chart below to compare losses from any high point for TMV and ^TNX. For additional features, visit the drawdowns tool.
Volatility
TMV vs. ^TNX - Volatility Comparison
Direxion Daily 20-Year Treasury Bear 3X (TMV) has a higher volatility of 13.38% compared to Treasury Yield 10 Years (^TNX) at 5.75%. This indicates that TMV'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.