UVIX vs. TMF
Compare and contrast key facts about Volatility Shares 2x Long VIX Futures ETF (UVIX) and Direxion Daily 20-Year Treasury Bull 3X (TMF).
UVIX and TMF are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. UVIX is a passively managed fund by Volatility Shares that tracks the performance of the Long VIX Futures Index – Benchmark TR Gross (200%). It was launched on Mar 28, 2022. 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 UVIX 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: UVIX or TMF.
Key characteristics
| UVIX | TMF | |
|---|---|---|
| YTD Return | -73.63% | -23.78% |
| 1Y Return | -85.85% | 8.75% |
| Sharpe Ratio | -0.56 | 0.03 |
| Sortino Ratio | -1.01 | 0.36 |
| Omega Ratio | 0.88 | 1.04 |
| Calmar Ratio | -0.85 | 0.02 |
| Martin Ratio | -1.27 | 0.07 |
| Ulcer Index | 66.79% | 20.86% |
| Daily Std Dev | 151.78% | 44.60% |
| Max Drawdown | -99.72% | -92.18% |
| Current Drawdown | -99.72% | -90.03% |
Correlation
The correlation between UVIX and TMF is -0.09. 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
UVIX vs. TMF - Performance Comparison
In the year-to-date period, UVIX achieves a -73.63% return, which is significantly lower than TMF's -23.78% 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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UVIX vs. TMF - Expense Ratio Comparison
UVIX has a 2.78% expense ratio, which is higher than TMF's 1.09% expense ratio.
Risk-Adjusted Performance
UVIX vs. TMF - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Volatility Shares 2x Long VIX Futures ETF (UVIX) 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
UVIX vs. TMF - Dividend Comparison
UVIX has not paid dividends to shareholders, while TMF's dividend yield for the trailing twelve months is around 3.50%.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
UVIX Volatility Shares 2x Long VIX Futures ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
TMF Direxion Daily 20-Year Treasury Bull 3X | 3.50% | 2.82% | 1.62% | 0.13% | 0.48% | 0.94% | 1.49% | 0.41% | 0.00% | 0.00% | 0.00% | 0.57% |
Drawdowns
UVIX vs. TMF - Drawdown Comparison
The maximum UVIX drawdown since its inception was -99.72%, which is greater than TMF's maximum drawdown of -92.18%. Use the drawdown chart below to compare losses from any high point for UVIX and TMF. For additional features, visit the drawdowns tool.
Volatility
UVIX vs. TMF - Volatility Comparison
Volatility Shares 2x Long VIX Futures ETF (UVIX) has a higher volatility of 37.02% compared to Direxion Daily 20-Year Treasury Bull 3X (TMF) at 14.83%. This indicates that UVIX's price experiences larger fluctuations and is considered to be riskier than TMF based on this measure. The chart below showcases a comparison of their rolling one-month volatility.