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.
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.
Performance
TMV vs. ^TNX - Performance Comparison
Key characteristics
TMV:
0.91
^TNX:
0.75
TMV:
1.50
^TNX:
1.25
TMV:
1.17
^TNX:
1.14
TMV:
0.39
^TNX:
0.30
TMV:
2.28
^TNX:
1.62
TMV:
16.76%
^TNX:
10.31%
TMV:
42.16%
^TNX:
22.26%
TMV:
-99.06%
^TNX:
-93.78%
TMV:
-96.48%
^TNX:
-43.61%
Returns By Period
In the year-to-date period, TMV achieves a 34.83% return, which is significantly higher than ^TNX's 17.02% return. Over the past 10 years, TMV has underperformed ^TNX with an annualized return of -6.42%, while ^TNX has yielded a comparatively higher 7.22% annualized return.
TMV
34.83%
4.85%
16.26%
33.44%
7.55%
-6.42%
^TNX
17.02%
2.68%
6.27%
16.18%
18.78%
7.22%
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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 13.07% compared to Treasury Yield 10 Years (^TNX) at 6.15%. 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.