YINN vs. TMF
YINN (Direxion Daily China 3x Bull Shares) and TMF (Direxion Daily 20+ Year Treasury Bull 3X ETF) are both exchange-traded funds - YINN is a Leveraged Equities fund tracking the FTSE China 50 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 10 years, YINN returned -20.45%/yr vs -17.10%/yr for TMF. At a correlation of -0.19, they often move in opposite directions. YINN charges 1.52%/yr vs 1.01%/yr for TMF.
Performance
YINN vs. TMF - Performance Comparison
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Returns By Period
In the year-to-date period, YINN achieves a -48.49% return, which is significantly lower than TMF's -0.03% return. Over the past 10 years, YINN has underperformed TMF with an annualized return of -20.45%, while TMF has yielded a comparatively higher -17.10% annualized return.
YINN
- 1D
- -6.38%
- 1M
- -30.18%
- YTD
- -48.49%
- 6M
- -49.76%
- 1Y
- -47.64%
- 3Y*
- -11.77%
- 5Y*
- -42.90%
- 10Y*
- -20.45%
TMF
- 1D
- -0.11%
- 1M
- 8.39%
- YTD
- -0.03%
- 6M
- -2.97%
- 1Y
- -0.36%
- 3Y*
- -19.98%
- 5Y*
- -30.26%
- 10Y*
- -17.10%
YINN vs. TMF - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
YINN Direxion Daily China 3x Bull Shares | -48.49% | 54.21% | 36.06% | -53.08% | -71.97% | -58.56% | -7.75% | 28.92% | -48.47% | 129.79% |
TMF Direxion Daily 20+ Year Treasury Bull 3X ETF | -0.03% | -2.94% | -35.95% | -13.01% | -72.60% | -19.80% | 39.02% | 34.75% | -11.01% | 22.72% |
Correlation
The correlation between YINN and TMF is 0.09, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.09 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.07 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.01 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.08 |
Correlation (All Time) Calculated using the full available price history since Dec 3, 2009 | -0.19 |
The correlation between YINN and TMF shifts across timeframes, from -0.19 (all time) to 0.09 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
YINN vs. TMF — Risk / Return Rank
YINN
TMF
YINN vs. TMF - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Direxion Daily China 3x Bull Shares (YINN) 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.
| YINN | TMF | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.80 | ||
| Sortino ratioReturn per unit of downside risk | -1.28 | ||
| Omega ratioGain probability vs. loss probability | 0.87 | 1.02 | -0.15 |
| Calmar ratioReturn relative to maximum drawdown | -0.78 | -0.01 | -0.77 |
| Martin ratioReturn relative to average drawdown | -1.75 | -0.03 | -1.72 |
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Drawdowns
YINN vs. TMF - Drawdown Comparison
The maximum YINN drawdown since its inception was -98.87%, which is greater than TMF's maximum drawdown of -92.89%. Use the drawdown chart below to compare losses from any high point for YINN and TMF.
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Drawdown Indicators
| YINN | TMF | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -98.87% | -92.89% | -5.98% |
Max Drawdown (1Y)Largest decline over 1 year | -61.16% | -26.51% | -34.65% |
Max Drawdown (3Y)Largest decline over 3 years | -69.08% | -56.09% | -12.99% |
Max Drawdown (5Y)Largest decline over 5 years | -96.28% | -88.81% | -7.47% |
Max Drawdown (10Y)Largest decline over 10 years | -98.59% | -92.89% | -5.70% |
Current DrawdownCurrent decline from peak | -98.17% | -91.72% | -6.45% |
Average DrawdownAverage peak-to-trough decline | -68.57% | -43.79% | -24.78% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 27.29% | 12.32% | +14.97% |
Volatility
YINN vs. TMF - Volatility Comparison
Direxion Daily China 3x Bull Shares (YINN) has a higher volatility of 18.62% compared to Direxion Daily 20+ Year Treasury Bull 3X ETF (TMF) at 7.19%. This indicates that YINN'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
| YINN | TMF | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 18.62% | 7.19% | +11.43% |
Volatility (6M)Calculated over the trailing 6-month period | 44.10% | 19.68% | +24.42% |
Volatility (1Y)Calculated over the trailing 1-year period | 58.76% | 28.08% | +30.68% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 94.34% | 46.61% | +47.73% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 81.59% | 43.86% | +37.73% |
YINN vs. TMF - Expense Ratio Comparison
YINN has a 1.52% expense ratio, which is higher than TMF's 1.01% expense ratio.
Dividends
YINN vs. TMF - Dividend Comparison
YINN's dividend yield for the trailing twelve months is around 1.73%, less than TMF's 3.95% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
TMF Direxion Daily 20+ Year Treasury Bull 3X ETF | 3.95% | 4.06% | 4.29% | 2.82% | 1.62% | 0.13% | 2.23% | 0.94% | 1.49% | 0.41% |
YINN Direxion Daily China 3x Bull Shares | 1.73% | 1.12% | 1.81% | 4.17% | 1.16% | 0.73% | 0.76% | 1.38% | 1.02% | 1.11% |
Frequently Asked Questions
YINN and TMF have a correlation of 0.09, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
YINN has higher volatility (18.62%) compared to TMF (7.19%). In terms of maximum drawdown, YINN dropped -98.87% vs TMF's -92.89%.
On 10-year performance, TMF leads with -17.10% vs -20.45% for YINN. On fees, TMF is cheaper at 1.01% per year. On volatility, TMF has been the lower-risk option at 7.19%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, TMF has performed better with a -17.10% return vs -20.45%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
TMF is cheaper with a 1.01% expense ratio, compared with 1.52% for YINN.
TMF has the higher dividend yield at 3.95%, compared with 1.73% for YINN.
YINN is categorized as Leveraged Equities, while TMF is Leveraged Bonds. YINN tracks FTSE China 50 Index (300%), while TMF tracks ICE U.S. Treasury 20+ Year Bond Index (300%). Their fees differ too: 1.52% for YINN and 1.01% for TMF.
TMF currently has the higher Sharpe Ratio (-0.01 vs -0.81), 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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