UPRO vs. TMF
Compare and contrast key facts about ProShares UltraPro S&P 500 (UPRO) and Direxion Daily 20-Year Treasury Bull 3X (TMF).
UPRO and TMF are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. UPRO is a passively managed fund by ProShares that tracks the performance of the S&P 500 Index (300%). It was launched on Jun 23, 2009. TMF 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. Both UPRO and TMF 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: UPRO or TMF.
Key characteristics
| UPRO | TMF | |
|---|---|---|
| YTD Return | 64.91% | -29.77% |
| 1Y Return | 93.02% | -6.17% |
| 3Y Return (Ann) | 7.44% | -43.96% |
| 5Y Return (Ann) | 23.82% | -29.55% |
| 10Y Return (Ann) | 23.95% | -12.38% |
| Sharpe Ratio | 2.57 | -0.07 |
| Sortino Ratio | 2.96 | 0.21 |
| Omega Ratio | 1.41 | 1.02 |
| Calmar Ratio | 2.40 | -0.03 |
| Martin Ratio | 15.45 | -0.14 |
| Ulcer Index | 6.05% | 21.34% |
| Daily Std Dev | 36.42% | 43.71% |
| Max Drawdown | -76.82% | -92.18% |
| Current Drawdown | -6.63% | -90.81% |
Correlation
The correlation between UPRO and TMF is -0.28. This indicates that the assets' prices tend to move in opposite directions. Negative correlation can be particularly beneficial for diversification and risk management, as one asset may offset the losses of the other during market fluctuations.
Performance
UPRO vs. TMF - Performance Comparison
In the year-to-date period, UPRO achieves a 64.91% return, which is significantly higher than TMF's -29.77% return. Over the past 10 years, UPRO has outperformed TMF with an annualized return of 23.95%, while TMF has yielded a comparatively lower -12.38% 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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UPRO vs. TMF - Expense Ratio Comparison
UPRO has a 0.92% expense ratio, which is lower than TMF's 1.09% expense ratio.
Risk-Adjusted Performance
UPRO vs. TMF - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares UltraPro S&P 500 (UPRO) 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.
Dividends
UPRO vs. TMF - Dividend Comparison
UPRO's dividend yield for the trailing twelve months is around 0.76%, less than TMF's 3.80% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
UPRO ProShares UltraPro S&P 500 | 0.76% | 0.74% | 0.52% | 0.06% | 0.11% | 0.53% | 0.63% | 0.00% | 0.12% | 0.34% | 0.22% | 0.07% |
TMF Direxion Daily 20-Year Treasury Bull 3X | 3.80% | 2.82% | 1.62% | 0.13% | 0.48% | 0.94% | 1.49% | 0.41% | 0.00% | 0.00% | 0.00% | 0.57% |
Drawdowns
UPRO vs. TMF - Drawdown Comparison
The maximum UPRO drawdown since its inception was -76.82%, smaller than the maximum TMF drawdown of -92.18%. Use the drawdown chart below to compare losses from any high point for UPRO and TMF. For additional features, visit the drawdowns tool.
Volatility
UPRO vs. TMF - Volatility Comparison
The current volatility for ProShares UltraPro S&P 500 (UPRO) is 12.26%, while Direxion Daily 20-Year Treasury Bull 3X (TMF) has a volatility of 14.49%. This indicates that UPRO experiences smaller price fluctuations and is considered to be less risky than TMF based on this measure. The chart below showcases a comparison of their rolling one-month volatility.