XOMX vs. TMF

Last updated Jul 21, 2026

XOMX (Direxion Daily XOM Bull 2X Shares) and TMF (Direxion Daily 20+ Year Treasury Bull 3X ETF) are both exchange-traded funds - XOMX is a Leveraged Equities fund actively managed by Direxion, while TMF is a Leveraged Bonds fund tracking the ICE U.S. Treasury 20+ Year Bond Index (300%). XOMX is actively managed, while TMF is passively managed. Over the past year, XOMX returned 72.36% vs -4.28% for TMF. At a correlation of -0.19, they often move in opposite directions. XOMX charges 1.07%/yr vs 1.01%/yr for TMF.

Performance

XOMX vs. TMF - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Direxion Daily XOM Bull 2X Shares (XOMX) 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, XOMX achieves a 41.72% return, which is significantly higher than TMF's -11.04% return.

XOMX

• 1D: 1.24%
• 1M: 14.89%
• 6M: 22.78%
• YTD: 41.72%
• 1Y: 72.36%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 50.49%

TMF

• 1D: -2.07%
• 1M: -9.25%
• 6M: -12.35%
• YTD: -11.04%
• 1Y: -4.28%
• 3Y*: -21.59%
• 5Y*: -33.52%
• 10Y*: -17.99%
• ALL TIME*: -6.34%

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

XOMX vs. TMF - Yearly Performance Comparison

	2026 (YTD)	2025
XOMX Direxion Daily XOM Bull 2X Shares	41.72%	17.15%
TMF Direxion Daily 20+ Year Treasury Bull 3X ETF	-11.04%	2.32%

Correlation

The correlation between XOMX and TMF is -0.24, 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	-0.24
Correlation (All Time) Calculated using the full available price history since Apr 23, 2025	-0.19

Return for Risk

XOMX vs. TMF — Risk / Return Rank

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

XOMX

XOMX Risk / Return Rank: 51
XOMX Sharpe Ratio Rank: 59
XOMX Sortino Ratio Rank: 53
XOMX Omega Ratio Rank: 54
XOMX Calmar Ratio Rank: 48
XOMX Martin Ratio Rank: 39

TMF

TMF Risk / Return Rank: 9
TMF Sharpe Ratio Rank: 8
TMF Sortino Ratio Rank: 9
TMF Omega Ratio Rank: 9
TMF Calmar Ratio Rank: 8
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.

XOMX vs. TMF - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Direxion Daily XOM Bull 2X Shares (XOMX) 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.

	XOMX	TMF	Difference
Sharpe ratio: Return per unit of total volatility	1.46	-0.16	+1.62
Sortino ratio: Return per unit of downside risk	1.94	-0.03	+1.97
Omega ratio: Gain probability vs. loss probability	1.25	1.00	+0.25
Calmar ratio: Return relative to maximum drawdown	1.83	-0.16	+2.00
Martin ratio: Return relative to average drawdown	4.53	-0.32	+4.86

XOMX vs. TMF - Sharpe Ratio Comparison

The current XOMX Sharpe Ratio is 1.46, which is higher than the TMF Sharpe Ratio of -0.16. The chart below compares the historical Sharpe Ratios of XOMX 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.

Drawdowns

XOMX vs. TMF - Drawdown Comparison

The maximum XOMX drawdown since its inception was -39.64%, smaller than the maximum TMF drawdown of -92.89%. Use the drawdown chart below to compare losses from any high point for XOMX and TMF.

Drawdown Indicators

	XOMX	TMF	Difference
Max Drawdown Largest peak-to-trough decline	-39.64%	-92.89%	+53.25%
Max Drawdown (1Y) Largest decline over 1 year	-39.64%	-26.51%	-13.13%
Max Drawdown (3Y) Largest decline over 3 years	—	-53.47%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-88.81%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-92.89%	—
Current Drawdown Current decline from peak	-28.59%	-92.64%	+64.05%
Average Drawdown Average peak-to-trough decline	-10.46%	-43.97%	+33.51%
Ulcer Index Depth and duration of drawdowns from previous peaks	16.02%	13.22%	+2.80%

Volatility

XOMX vs. TMF - Volatility Comparison

Direxion Daily XOM Bull 2X Shares (XOMX) has a higher volatility of 14.81% compared to Direxion Daily 20+ Year Treasury Bull 3X ETF (TMF) at 7.53%. This indicates that XOMX'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

	XOMX	TMF	Difference
Volatility (1M) Calculated over the trailing 1-month period	14.81%	7.53%	+7.28%
Volatility (6M) Calculated over the trailing 6-month period	41.93%	19.87%	+22.06%
Volatility (1Y) Calculated over the trailing 1-year period	49.78%	27.62%	+22.16%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	48.59%	46.39%	+2.20%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	48.59%	43.72%	+4.87%

XOMX vs. TMF - Expense Ratio Comparison

XOMX has a 1.07% expense ratio, which is higher than TMF's 1.01% expense ratio.

Dividends

XOMX vs. TMF - Dividend Comparison

XOMX's dividend yield for the trailing twelve months is around 1.86%, less than TMF's 4.44% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
TMF Direxion Daily 20+ Year Treasury Bull 3X ETF	4.44%	4.06%	4.29%	2.82%	1.62%	0.13%	2.23%	0.94%	1.49%	0.41%
XOMX Direxion Daily XOM Bull 2X Shares	1.86%	1.73%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both XOMX and TMF in my portfolio?

XOMX 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.

Which is riskier, XOMX or TMF?

XOMX has higher volatility (14.81%) compared to TMF (7.53%). In terms of maximum drawdown, XOMX dropped -39.64% vs TMF's -92.89%.

Which ETF is better, XOMX or TMF?

On 1-year performance, XOMX leads with 72.36% vs -4.28% for TMF. On fees, TMF is cheaper at 1.01% per year. On volatility, TMF has been the lower-risk option at 7.53%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, XOMX or TMF?

Over the 1-year period, XOMX has performed better with a 72.36% return vs -4.28%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, XOMX or TMF?

TMF is cheaper with a 1.01% expense ratio, compared with 1.07% for XOMX.

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

TMF has the higher dividend yield at 4.44%, compared with 1.86% for XOMX.

What is the main difference between XOMX and TMF?

XOMX is categorized as Leveraged Equities, while TMF is Leveraged Bonds. Their fees differ too: 1.07% for XOMX and 1.01% for TMF.

Which has better risk-adjusted returns?

XOMX currently has the higher Sharpe Ratio (1.46 vs -0.16), 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.