WANT vs. TMF

Last updated Jun 4, 2026

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 -5.36%/yr vs -30.52%/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

The chart below illustrates the hypothetical performance of a $10,000 investment in Direxion Daily Consumer Discretionary Bull 3X Shares (WANT) and Direxion Daily 20+ Year Treasury Bull 3X ETF (TMF). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, WANT achieves a -14.08% return, which is significantly lower than TMF's -6.13% return.

WANT

• 1D: -2.18%
• 1M: -3.95%
• YTD: -14.08%
• 6M: -14.66%
• 1Y: 6.37%
• 3Y*: 19.16%
• 5Y*: -5.36%
• 10Y*: —

TMF

• 1D: -1.14%
• 1M: 1.22%
• YTD: -6.13%
• 6M: -11.63%
• 1Y: 0.90%
• 3Y*: -20.78%
• 5Y*: -30.52%
• 10Y*: -16.56%

*Multi-year figures are annualized to reflect compound growth (CAGR)

WANT vs. TMF - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
WANT Direxion Daily Consumer Discretionary Bull 3X Shares	-14.08%	-6.94%	60.52%	114.43%	-83.03%	84.81%	45.26%	90.07%	-24.91%
TMF Direxion Daily 20+ Year Treasury Bull 3X ETF	-6.13%	-2.94%	-35.95%	-13.01%	-72.60%	-19.80%	39.02%	34.75%	19.16%

Correlation

The correlation between WANT and TMF is 0.19, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.19
Correlation (3Y) Calculated over the trailing 3-year period	0.19
Correlation (5Y) Calculated over the trailing 5-year period	0.09
Correlation (All Time) Calculated using the full available price history since Nov 30, 2018	-0.02

The correlation between WANT and TMF shifts across timeframes, from -0.02 (all time) to 0.19 (3 years), reflecting how their relationship changes across market environments.

WANT vs. TMF - Sectors Allocation Comparison

Sectors	WANT	TMF
Consumer Cyclical	19.4%	-
Communication Services	0.3%	-
Technology	0.2%	-
Industrials	0.0%	-
Basic Materials	-	-
Consumer Defensive	-	-
Energy	-	-
Financial Services	-	18.7%
Healthcare	-	-
Real Estate	-	-
Utilities	-	-

Return for Risk

WANT vs. TMF — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

WANT

WANT Risk / Return Rank: 11
WANT Sharpe Ratio Rank: 10
WANT Sortino Ratio Rank: 13
WANT Omega Ratio Rank: 12
WANT Calmar Ratio Rank: 10
WANT Martin Ratio Rank: 11

TMF

TMF Risk / Return Rank: 9
TMF Sharpe Ratio Rank: 9
TMF Sortino Ratio Rank: 9
TMF Omega Ratio Rank: 9
TMF Calmar Ratio Rank: 9
TMF Martin Ratio Rank: 9

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

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.

	WANT	TMF	Difference
Sharpe ratio: Return per unit of total volatility	0.12	0.03	+0.09
Sortino ratio: Return per unit of downside risk	0.55	0.25	+0.30
Omega ratio: Gain probability vs. loss probability	1.06	1.03	+0.04
Calmar ratio: Return relative to maximum drawdown	0.16	0.03	+0.12
Martin ratio: Return relative to average drawdown	0.42	0.08	+0.34
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

WANT vs. TMF - Sharpe Ratio Comparison

The current WANT Sharpe Ratio is 0.12, which is higher than the TMF Sharpe Ratio of 0.03. The chart below compares the historical Sharpe Ratios of WANT and TMF, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	WANT	TMF	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.12	0.03	+0.09
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.08	-0.66	+0.58
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	-0.38	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.11	-0.14	+0.25

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.

Drawdown Indicators

	WANT	TMF	Difference
Max Drawdown Largest 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%	-56.31%	-7.22%
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 Drawdown Current decline from peak	-58.58%	-92.23%	+33.65%
Average Drawdown Average peak-to-trough decline	-43.07%	-43.63%	+0.56%
Ulcer Index Depth and duration of drawdowns from previous peaks	15.11%	11.49%	+3.62%

Volatility

WANT vs. TMF - Volatility Comparison

Direxion Daily Consumer Discretionary Bull 3X Shares (WANT) has a higher volatility of 15.45% compared to Direxion Daily 20+ Year Treasury Bull 3X ETF (TMF) at 8.09%. 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.

Volatility by Period

	WANT	TMF	Difference
Volatility (1M) Calculated over the trailing 1-month period	15.45%	8.09%	+7.36%
Volatility (6M) Calculated over the trailing 6-month period	38.86%	19.01%	+19.85%
Volatility (1Y) Calculated over the trailing 1-year period	53.92%	28.76%	+25.16%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	70.65%	46.75%	+23.90%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	71.50%	43.92%	+27.58%

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 0.62%, less than TMF's 4.15% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
TMF Direxion Daily 20+ Year Treasury Bull 3X ETF	4.15%	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	0.62%	0.65%	0.61%	0.46%	0.00%	0.00%	0.07%	0.64%	0.00%	0.00%

Frequently Asked Questions

Can I hold both WANT and TMF in my portfolio?

WANT and TMF have a correlation of 0.19, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, WANT or TMF?

WANT has higher volatility (15.45%) compared to TMF (8.09%). In terms of maximum drawdown, WANT dropped -85.89% vs TMF's -92.89%.

Which ETF is better, WANT or TMF?

On 5-year performance, WANT leads with -5.36% vs -30.52% for TMF. On fees, WANT is cheaper at 0.98% per year. On volatility, TMF has been the lower-risk option at 8.09%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, WANT or TMF?

Over the 5-year period, WANT has performed better with a -5.36% return vs -30.52%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, WANT or TMF?

WANT is cheaper with a 0.98% expense ratio, compared with 1.01% for TMF.

Which ETF pays a higher dividend yield, WANT or TMF?

TMF has the higher dividend yield at 4.15%, compared with 0.62% for WANT.

What is the main difference between WANT and TMF?

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.

Which has better risk-adjusted returns?

WANT currently has the higher Sharpe Ratio (0.12 vs 0.03), 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.