WEBS vs. TMF
WEBS (Daily Dow Jones Internet Bear 3X Shares) and TMF (Direxion Daily 20-Year Treasury Bull 3X) are both exchange-traded funds - WEBS is a Leveraged Equities fund tracking the Dow Jones Internet Composite Index (300%), while TMF is a Leveraged Bonds fund tracking the NYSE 20 Year Plus Treasury Bond Index (300%). Both are passively managed. Over the past 5 years, WEBS returned -36.70%/yr vs -30.52%/yr for TMF. At a correlation of -0.03, they often move in opposite directions. WEBS charges 1.07%/yr vs 1.09%/yr for TMF.
Performance
WEBS vs. TMF - Performance Comparison
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Returns By Period
In the year-to-date period, WEBS achieves a -16.82% return, which is significantly lower than TMF's -6.13% return.
WEBS
- 1D
- 5.89%
- 1M
- -13.46%
- YTD
- -16.82%
- 6M
- -14.14%
- 1Y
- -30.71%
- 3Y*
- -49.47%
- 5Y*
- -36.70%
- 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%
WEBS vs. TMF - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
WEBS Daily Dow Jones Internet Bear 3X Shares | -16.82% | -40.66% | -56.62% | -75.58% | 117.15% | -39.82% | -87.18% | -13.16% |
TMF Direxion Daily 20-Year Treasury Bull 3X | -6.13% | -2.94% | -35.95% | -13.01% | -72.60% | -19.80% | 39.02% | -0.50% |
Correlation
The correlation between WEBS and TMF is -0.13, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.13 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.11 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.07 |
Correlation (All Time) Calculated using the full available price history since Nov 8, 2019 | -0.03 |
The correlation between WEBS and TMF shifts across timeframes, from -0.13 (1 year) to -0.03 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
WEBS vs. TMF — Risk / Return Rank
WEBS
TMF
WEBS vs. TMF - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Daily Dow Jones Internet Bear 3X Shares (WEBS) 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.
| WEBS | TMF | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | -0.54 | 0.03 | -0.57 |
Sortino ratioReturn per unit of downside risk | -0.52 | 0.25 | -0.77 |
Omega ratioGain probability vs. loss probability | 0.94 | 1.03 | -0.08 |
Calmar ratioReturn relative to maximum drawdown | -0.58 | 0.03 | -0.61 |
Martin ratioReturn relative to average drawdown | -1.33 | 0.08 | -1.41 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| WEBS | TMF | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.54 | 0.03 | -0.57 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.45 | -0.66 | +0.21 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | -0.38 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.59 | -0.14 | -0.45 |
Drawdowns
WEBS vs. TMF - Drawdown Comparison
The maximum WEBS drawdown since its inception was -99.63%, which is greater than TMF's maximum drawdown of -92.89%. Use the drawdown chart below to compare losses from any high point for WEBS and TMF.
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Drawdown Indicators
| WEBS | TMF | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.63% | -92.89% | -6.74% |
Max Drawdown (1Y)Largest decline over 1 year | -53.54% | -26.51% | -27.03% |
Max Drawdown (3Y)Largest decline over 3 years | -90.33% | -56.31% | -34.02% |
Max Drawdown (5Y)Largest decline over 5 years | -97.09% | -88.81% | -8.28% |
Max Drawdown (10Y)Largest decline over 10 years | — | -92.89% | — |
Current DrawdownCurrent decline from peak | -99.60% | -92.23% | -7.37% |
Average DrawdownAverage peak-to-trough decline | -91.09% | -43.63% | -47.46% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 23.19% | 11.49% | +11.70% |
Volatility
WEBS vs. TMF - Volatility Comparison
Daily Dow Jones Internet Bear 3X Shares (WEBS) has a higher volatility of 15.72% compared to Direxion Daily 20-Year Treasury Bull 3X (TMF) at 8.09%. This indicates that WEBS'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
| WEBS | TMF | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 15.72% | 8.09% | +7.63% |
Volatility (6M)Calculated over the trailing 6-month period | 43.46% | 19.01% | +24.45% |
Volatility (1Y)Calculated over the trailing 1-year period | 57.60% | 28.76% | +28.84% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 81.81% | 46.75% | +35.06% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 89.84% | 43.92% | +45.92% |
WEBS vs. TMF - Expense Ratio Comparison
WEBS has a 1.07% expense ratio, which is lower than TMF's 1.09% expense ratio.
Dividends
WEBS vs. TMF - Dividend Comparison
WEBS's dividend yield for the trailing twelve months is around 3.92%, 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 | 4.15% | 4.06% | 4.29% | 2.82% | 1.62% | 0.13% | 2.23% | 0.94% | 1.49% | 0.41% |
WEBS Daily Dow Jones Internet Bear 3X Shares | 3.92% | 3.77% | 8.02% | 8.51% | 0.20% | 0.00% | 1.11% | 0.11% | 0.00% | 0.00% |
Frequently Asked Questions
WEBS and TMF have a correlation of -0.13, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
WEBS has higher volatility (15.72%) compared to TMF (8.09%). In terms of maximum drawdown, WEBS dropped -99.63% vs TMF's -92.89%.
On 5-year performance, TMF leads with -30.52% vs -36.70% for WEBS. On fees, WEBS is cheaper at 1.07% 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.
Over the 5-year period, TMF has performed better with a -30.52% return vs -36.70%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
WEBS is cheaper with a 1.07% expense ratio, compared with 1.09% for TMF.
TMF has the higher dividend yield at 4.15%, compared with 3.92% for WEBS.
WEBS is categorized as Leveraged Equities, while TMF is Leveraged Bonds. WEBS tracks Dow Jones Internet Composite Index (300%), while TMF tracks NYSE 20 Year Plus Treasury Bond Index (300%). Their fees differ too: 1.07% for WEBS and 1.09% for TMF.
TMF currently has the higher Sharpe Ratio (0.03 vs -0.54), 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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