YINN vs. TMF

Last updated Jun 4, 2026

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 -18.76%/yr vs -16.56%/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

The chart below illustrates the hypothetical performance of a $10,000 investment in Direxion Daily China 3x Bull Shares (YINN) 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, YINN achieves a -27.88% return, which is significantly lower than TMF's -6.13% return. Over the past 10 years, YINN has underperformed TMF with an annualized return of -18.76%, while TMF has yielded a comparatively higher -16.56% annualized return.

YINN

• 1D: -6.72%
• 1M: -10.09%
• YTD: -27.88%
• 6M: -31.54%
• 1Y: -16.05%
• 3Y*: -2.89%
• 5Y*: -38.62%
• 10Y*: -18.76%

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)

YINN vs. TMF - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
YINN Direxion Daily China 3x Bull Shares	-27.88%	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	-6.13%	-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 0.12, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.12
Correlation (3Y) Calculated over the trailing 3-year period	0.08
Correlation (5Y) Calculated over the trailing 5-year period	0.02
Correlation (10Y) Calculated over the trailing 10-year period	-0.08
Correlation (All Time) Calculated using the full available price history since Dec 4, 2009	-0.19

The correlation between YINN and TMF shifts across timeframes, from -0.19 (all time) to 0.12 (1 year), reflecting how their relationship changes across market environments.

YINN vs. TMF - Sectors Allocation Comparison

Sectors	YINN	TMF
Financial Services	34.7%	18.7%
Consumer Cyclical	27.4%	-
Communication Services	15.7%	-
Energy	5.6%	-
Technology	5.5%	-
Basic Materials	4.2%	-
Industrials	2.4%	-
Healthcare	2.3%	-
Real Estate	1.0%	-
Consumer Defensive	0.9%	-
Utilities	0.4%	-

Return for Risk

YINN vs. TMF — Risk / Return Rank

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

YINN

YINN Risk / Return Rank: 6
YINN Sharpe Ratio Rank: 6
YINN Sortino Ratio Rank: 7
YINN Omega Ratio Rank: 7
YINN Calmar Ratio Rank: 6
YINN Martin Ratio Rank: 6

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.

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.

	YINN	TMF	Difference
Sharpe ratio: Return per unit of total volatility	-0.27	0.03	-0.31
Sortino ratio: Return per unit of downside risk	-0.01	0.25	-0.26
Omega ratio: Gain probability vs. loss probability	1.00	1.03	-0.03
Calmar ratio: Return relative to maximum drawdown	-0.34	0.03	-0.37
Martin ratio: Return relative to average drawdown	-0.66	0.08	-0.74
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

YINN vs. TMF - Sharpe Ratio Comparison

The current YINN Sharpe Ratio is -0.27, which is lower than the TMF Sharpe Ratio of 0.03. The chart below compares the historical Sharpe Ratios of YINN 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

	YINN	TMF	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.27	0.03	-0.31
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.41	-0.66	+0.24
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	-0.23	-0.38	+0.15
Sharpe Ratio (All Time) Calculated using the full available price history	-0.22	-0.14	-0.08

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.

Drawdown Indicators

	YINN	TMF	Difference
Max Drawdown Largest peak-to-trough decline	-98.87%	-92.89%	-5.98%
Max Drawdown (1Y) Largest decline over 1 year	-47.74%	-26.51%	-21.23%
Max Drawdown (3Y) Largest decline over 3 years	-69.08%	-56.31%	-12.77%
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 Drawdown Current decline from peak	-97.44%	-92.23%	-5.21%
Average Drawdown Average peak-to-trough decline	-68.47%	-43.63%	-24.84%
Ulcer Index Depth and duration of drawdowns from previous peaks	24.22%	11.49%	+12.73%

Volatility

YINN vs. TMF - Volatility Comparison

Direxion Daily China 3x Bull Shares (YINN) has a higher volatility of 21.19% compared to Direxion Daily 20+ Year Treasury Bull 3X ETF (TMF) at 8.09%. 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.

Volatility by Period

	YINN	TMF	Difference
Volatility (1M) Calculated over the trailing 1-month period	21.19%	8.09%	+13.10%
Volatility (6M) Calculated over the trailing 6-month period	42.61%	19.01%	+23.60%
Volatility (1Y) Calculated over the trailing 1-year period	58.82%	28.76%	+30.06%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	94.20%	46.75%	+47.45%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	81.79%	43.92%	+37.87%

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 1.38%, 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%
YINN Direxion Daily China 3x Bull Shares	1.38%	1.12%	1.81%	4.17%	1.16%	0.73%	0.76%	1.38%	1.02%	1.11%

Frequently Asked Questions

Can I hold both YINN and TMF in my portfolio?

YINN and TMF have a correlation of 0.12, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, YINN or TMF?

YINN has higher volatility (21.19%) compared to TMF (8.09%). In terms of maximum drawdown, YINN dropped -98.87% vs TMF's -92.89%.

Which ETF is better, YINN or TMF?

On 10-year performance, TMF leads with -16.56% vs -18.76% for YINN. On fees, TMF is cheaper at 1.01% 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, YINN or TMF?

Over the 10-year period, TMF has performed better with a -16.56% return vs -18.76%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, YINN or TMF?

TMF is cheaper with a 1.01% expense ratio, compared with 1.52% for YINN.

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

TMF has the higher dividend yield at 4.15%, compared with 1.38% for YINN.

What is the main difference between YINN and TMF?

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.

Which has better risk-adjusted returns?

TMF currently has the higher Sharpe Ratio (0.03 vs -0.27), 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.