WANT vs. TMF
WANT (Direxion Daily Consumer Discretionary Bull 3X Shares) and TMF (Direxion Daily 20+ Year Treasury Bull 3X ETF) are both exchange-traded funds - WANT is a Leveraged Equities fund tracking the S&P Consumer Discretionary Select Sector Index (-300%), while TMF is a Leveraged Bonds fund tracking the ICE U.S. Treasury 20+ Year Bond Index (300%). Both are passively managed. Over the past 5 years, WANT returned -8.83%/yr vs -31.33%/yr for TMF. At a correlation of -0.02, they often move in opposite directions. WANT charges 0.98%/yr vs 1.01%/yr for TMF.
Performance
WANT vs. TMF - Performance Comparison
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Returns By Period
In the year-to-date period, WANT achieves a -21.36% return, which is significantly lower than TMF's -4.67% return.
WANT
- 1D
- -3.36%
- 1M
- -14.54%
- YTD
- -21.36%
- 6M
- -26.83%
- 1Y
- -0.82%
- 3Y*
- 9.94%
- 5Y*
- -8.83%
- 10Y*
- —
TMF
- 1D
- -0.62%
- 1M
- 4.96%
- YTD
- -4.67%
- 6M
- -5.95%
- 1Y
- -2.80%
- 3Y*
- -21.07%
- 5Y*
- -31.33%
- 10Y*
- -16.87%
WANT vs. TMF - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
WANT Direxion Daily Consumer Discretionary Bull 3X Shares | -21.36% | -6.94% | 60.52% | 114.43% | -83.03% | 84.81% | 45.26% | 90.07% | -24.44% |
TMF Direxion Daily 20+ Year Treasury Bull 3X ETF | -4.67% | -2.94% | -35.95% | -13.01% | -72.60% | -19.80% | 39.02% | 34.75% | 20.64% |
Correlation
The correlation between WANT and TMF is 0.24, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.24 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.20 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.10 |
Correlation (All Time) Calculated using the full available price history since Nov 29, 2018 | -0.02 |
The correlation between WANT and TMF shifts across timeframes, from -0.02 (all time) to 0.24 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
WANT vs. TMF — Risk / Return Rank
WANT
TMF
WANT vs. TMF - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Direxion Daily Consumer Discretionary Bull 3X Shares (WANT) and Direxion Daily 20+ Year Treasury Bull 3X ETF (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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| WANT | TMF | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.09 | ||
| Sortino ratioReturn per unit of downside risk | +0.31 | ||
| Omega ratioGain probability vs. loss probability | 1.04 | 1.01 | +0.04 |
| Calmar ratioReturn relative to maximum drawdown | -0.02 | -0.11 | +0.09 |
| Martin ratioReturn relative to average drawdown | -0.05 | -0.23 | +0.18 |
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Drawdowns
WANT vs. TMF - Drawdown Comparison
The maximum WANT drawdown since its inception was -85.89%, smaller than the maximum TMF drawdown of -92.89%. Use the drawdown chart below to compare losses from any high point for WANT and TMF.
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Drawdown Indicators
| WANT | TMF | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -85.89% | -92.89% | +7.00% |
Max Drawdown (1Y)Largest decline over 1 year | -41.27% | -26.51% | -14.76% |
Max Drawdown (3Y)Largest decline over 3 years | -63.53% | -56.09% | -7.44% |
Max Drawdown (5Y)Largest decline over 5 years | -85.89% | -88.81% | +2.92% |
Max Drawdown (10Y)Largest decline over 10 years | — | -92.89% | — |
Current DrawdownCurrent decline from peak | -62.10% | -92.11% | +30.01% |
Average DrawdownAverage peak-to-trough decline | -43.16% | -43.76% | +0.60% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 16.14% | 12.26% | +3.88% |
Volatility
WANT vs. TMF - Volatility Comparison
Direxion Daily Consumer Discretionary Bull 3X Shares (WANT) has a higher volatility of 19.12% compared to Direxion Daily 20+ Year Treasury Bull 3X ETF (TMF) at 6.50%. This indicates that WANT'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.
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Volatility by Period
| WANT | TMF | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 19.12% | 6.50% | +12.62% |
Volatility (6M)Calculated over the trailing 6-month period | 41.03% | 19.35% | +21.68% |
Volatility (1Y)Calculated over the trailing 1-year period | 55.06% | 27.91% | +27.15% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 70.98% | 46.59% | +24.39% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 71.48% | 43.86% | +27.62% |
WANT vs. TMF - Expense Ratio Comparison
WANT has a 0.98% expense ratio, which is lower than TMF's 1.01% expense ratio.
Dividends
WANT vs. TMF - Dividend Comparison
WANT's dividend yield for the trailing twelve months is around 0.68%, less than TMF's 4.09% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
TMF Direxion Daily 20+ Year Treasury Bull 3X ETF | 4.09% | 4.06% | 4.29% | 2.82% | 1.62% | 0.13% | 2.23% | 0.94% | 1.49% | 0.41% |
WANT Direxion Daily Consumer Discretionary Bull 3X Shares | 0.68% | 0.65% | 0.61% | 0.46% | 0.00% | 0.00% | 0.07% | 0.64% | 0.00% | 0.00% |
Frequently Asked Questions
WANT and TMF have a correlation of 0.24, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
WANT has higher volatility (19.12%) compared to TMF (6.50%). In terms of maximum drawdown, WANT dropped -85.89% vs TMF's -92.89%.
On 5-year performance, WANT leads with -8.83% vs -31.33% for TMF. On fees, WANT is cheaper at 0.98% per year. On volatility, TMF has been the lower-risk option at 6.50%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, WANT has performed better with a -8.83% return vs -31.33%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
WANT is cheaper with a 0.98% expense ratio, compared with 1.01% for TMF.
TMF has the higher dividend yield at 4.09%, compared with 0.68% for WANT.
WANT is categorized as Leveraged Equities, while TMF is Leveraged Bonds. WANT tracks S&P Consumer Discretionary Select Sector Index (-300%), while TMF tracks ICE U.S. Treasury 20+ Year Bond Index (300%). Their fees differ too: 0.98% for WANT and 1.01% for TMF.
WANT currently has the higher Sharpe Ratio (-0.02 vs -0.10), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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