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 -8.28%/yr vs -35.05%/yr for TMF. Their -0.02 correlation means they have often moved in opposite directions in the past. 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 -14.35% return, which is significantly higher than TMF's -15.88% return.
WANT
- 1D
- 5.55%
- 1M
- 0.14%
- 6M
- -18.34%
- YTD
- -14.35%
- 1Y
- 7.55%
- 3Y*
- 10.00%
- 5Y*
- -8.28%
- 10Y*
- —
- ALL TIME*
- 7.92%
TMF
- 1D
- 0.95%
- 1M
- -11.21%
- 6M
- -14.16%
- YTD
- -15.88%
- 1Y
- -17.67%
- 3Y*
- -18.84%
- 5Y*
- -35.05%
- 10Y*
- -18.33%
- ALL TIME*
- -6.63%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $168.22M | $133.63M | $127.70M | |
| $2.02M | $1.30M | $1.32M |
WANT vs. TMF - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
WANT Direxion Daily Consumer Discretionary Bull 3X Shares | -14.35% | -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 | -15.88% | -2.94% | -35.95% | -13.01% | -72.60% | -19.80% | 39.02% | 34.75% | 20.64% |
Correlation
The correlation between WANT and TMF is 0.27, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.27 |
Correlation (3Y) Balances recent behavior with more history. | 0.19 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.11 |
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 0.27 (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 | +0.79 | ||
| Sortino ratioReturn per unit of downside risk | +1.40 | ||
| Omega ratioGain probability vs. loss probability | 1.07 | 0.91 | +0.16 |
| Calmar ratioReturn relative to maximum drawdown | 0.18 | -0.62 | +0.80 |
| Martin ratioReturn relative to average drawdown | 0.40 | -1.25 | +1.65 |
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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 -93.10%. 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% | -93.10% | +7.21% |
Max Drawdown (1Y)Largest decline over 1 year | -41.27% | -28.69% | -12.58% |
Max Drawdown (3Y)Largest decline over 3 years | -63.53% | -50.64% | -12.89% |
Max Drawdown (5Y)Largest decline over 5 years | -85.89% | -89.14% | +3.25% |
Max Drawdown (10Y)Largest decline over 10 years | — | -93.10% | — |
Current DrawdownCurrent decline from peak | -58.72% | -93.04% | +34.32% |
Average DrawdownAverage peak-to-trough decline | -43.42% | -44.08% | +0.66% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 18.70% | 14.21% | +4.49% |
Volatility
WANT vs. TMF - Volatility Comparison
Direxion Daily Consumer Discretionary Bull 3X Shares (WANT) has a higher volatility of 22.32% compared to Direxion Daily 20+ Year Treasury Bull 3X ETF (TMF) at 7.36%. 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 | 22.32% | 7.36% | +14.96% |
Volatility (6M)Calculated over the trailing 6-month period | 44.85% | 19.96% | +24.89% |
Volatility (1Y)Calculated over the trailing 1-year period | 57.50% | 27.08% | +30.42% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 71.48% | 46.37% | +25.11% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 71.45% | 43.71% | +27.74% |
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 0.52%, less than TMF's 4.69% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
TMF Direxion Daily 20+ Year Treasury Bull 3X ETF | 4.69% | 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 | 0.52% | 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 0.27, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
WANT has higher volatility (22.32%) compared to TMF (7.36%). In terms of maximum drawdown, WANT dropped -85.89% vs TMF's -93.10%.
On 5-year performance, WANT leads with -8.28% vs -35.05% for TMF. On fees, WANT is cheaper at 0.98% per year. On volatility, TMF has been the lower-risk option at 7.36%. 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 -8.28% return vs -35.05%. 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 4.69%, compared with 0.52% 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 (0.13 vs -0.66), 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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