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Direxion Daily 20+ Year Treasury Bear 3X ETF (TMV)
About this ETF
TMV provides daily inverse (-3x) exposure to the ICE U.S. Treasury 20+ Year Bond Index. Using a combination of swaps and futures, TMV gives investors -3x exposure to daily moves in T-bonds with more than 20 years left to maturity. The daily reset means investors shouldn't expect the leverage factor to hold constant over investment horizons greater than one day. In short, the fund is a valid option for tactical positioning/hedging against rising interest rates, but it's important to keep in mind that the -3x leverage results in greater impact from the effects of compounding. As a levered product, TMV is not a buy-and-hold ETF, it's a short-term tactical instrument. Prior to May 2, 2016, TMV tracked the NYSE 20+Year…
Price
Top 10 holdings
| ISHARES 20+ YEAR TREASURY BOND ETF SWAP | 150.04% |
| DREYFUS TRSRY SECURITIES CASH MGMT | -2.60% |
| GOLDMAN FINL SQ TRSRY INST 506 | -16.57% |
| DREYFUS GOVT CASH MAN INS | -30.88% |
Sector mix
Price chart
Returns
| 1 month | +2.45% |
| 3 months | +7.67% |
| 6 months | +8.51% |
| Year to date | +8.07% |
| 1 year | +5.10% |
| 3 years (ann.) | +8.36% |
| 5 years (ann.) | +20.24% |
| 10 years (ann.) | -0.42% |
Risk profile
| Volatility (1y, ann.) | 28.32% |
| Sharpe (1y) | 0.32 |
| Sharpe (3y) | 0.40 |
| Sortino (1y) | 0.51 |
| Max drawdown (1y) | -22.12% |
| Max drawdown (5y) | -50.26% |
| Max drawdown (full) | -99.10% |
| Beta vs S&P 500 (1y) | -0.39 |
| Correlation vs S&P 500 (1y) | -0.18 |
Technical outlook as of 2026-07-13
The Monte Carlo cone is drawn on the price chart above (Forecast overlay); RSI, MACD and the rest of the oscillators live in its indicator panels.
Full holdings
| Constituent | ISIN | Market value | Weight |
|---|---|---|---|
| Loading… | |||
Sector breakdown
Geographic exposure
Cost vs. peers
Comparison universe: 6,948 funds of the same asset class.
Cost impact calculator
Dividend history
Distributing share class Income is paid out to shareholders.
| Ex-date | Payment | Amount |
|---|---|---|
| 2026-06-23 | 2026-06-30 | USD 0.2411 |
| 2026-03-24 | 2026-03-31 | USD 0.3755 |
| 2025-12-23 | 2025-12-31 | USD 0.1164 |
| 2025-09-23 | 2025-09-30 | USD 0.2287 |
| 2025-06-24 | 2025-07-01 | USD 0.2829 |
| 2025-03-25 | 2025-04-01 | USD 0.4301 |
| 2024-12-23 | 2024-12-31 | USD 0.1495 |
| 2024-09-24 | 2024-10-01 | USD 0.3161 |
| 2024-06-25 | 2024-07-02 | USD 0.3968 |
| 2024-03-19 | 2024-03-26 | USD 0.4941 |
| 2023-12-21 | 2023-12-29 | USD 0.2699 |
| 2023-09-19 | 2023-09-26 | USD 0.2607 |
| 2023-06-21 | 2023-06-28 | USD 0.3158 |
| 2023-03-21 | 2023-03-28 | USD 0.2983 |
| 2020-03-24 | 2020-03-31 | USD 0.0505 |
| 2019-12-23 | 2019-12-31 | USD 0.0525 |
| 2019-09-24 | 2019-10-01 | USD 0.1375 |
| 2019-06-25 | 2019-07-02 | USD 0.1750 |
| 2019-03-19 | 2019-03-26 | USD 0.1075 |
| 2018-12-27 | 2019-01-04 | USD 0.1375 |
| 2018-09-25 | 2018-10-02 | USD 0.1307 |
| 2018-06-19 | 2018-06-26 | USD 0.0150 |
| 2009-11-20 | — | USD 91.8625 |
Splits
| 2023-08-28 | 4:1 |
| 2020-04-23 | 1:10 |
| 2011-11-10 | 1:5 |
ESG profile
No ESG estimate available: none of the scored universe overlaps this portfolio (typical for bond, commodity or synthetic funds).
Scored coverage: 0.0% of the portfolio by weight.
Similar ETFs
| Fund | TER | AUM (USD) | Yield (TTM) | Return 1y | Sharpe 1y |
|---|---|---|---|---|---|
| Vanguard Total Stock Market ETF VTI | 0.03% | 2.30T | 1.05% | +19.93% | 1.48 |
| Vanguard S&P 500 ETF VOO | 0.03% | 1.70T | 1.07% | +19.68% | 1.49 |
| iShares Core S&P 500 ETF IVV | 0.03% | 894.38B | 1.09% | +19.68% | 1.49 |
| State Street SPDR S&P 500 ETF SPY | 0.09% | 789.23B | 1.00% | +19.71% | 1.49 |
| SPDR S&P 500 ETF Trust 1557.T | 0.09% | 789.09B | 0.49% | +37.54% | 2.26 |
| State Street SPDR S&P 500 ETF SPY.AX | 0.09% | 788.13B | 1.00% | +11.84% | 1.13 |
| Vanguard Total International Stock ETF VXUS | 0.05% | 652.30B | 2.61% | +20.58% | 1.21 |
| Invesco QQQ Trust, Series 1 QQQ | 0.18% | 481.14B | 0.43% | +28.14% | 1.43 |
| Vanguard Growth ETF VUG | 0.03% | 393.80B | 0.39% | +16.85% | 0.99 |
| Vanguard FTSE Developed Markets ETF VEA | 0.03% | 317.30B | 2.60% | +21.64% | 1.23 |
Cheaper alternatives
No fund of the class reaches 60% portfolio overlap — showing the cheapest funds of the class instead.
| Fund | TER | AUM (USD) | Overlap |
|---|---|---|---|
| State Street SPDR Portfolio S&P 500 ETF SPYM | 0.02% | 159.32B | 0.0% |
| Vanguard Mid-Cap ETF VO | 0.03% | 218.80B | 0.0% |
| Vanguard S&P 500 ETF VOO | 0.03% | 1.70T | 0.0% |
| Vanguard Total Stock Market ETF VTI | 0.03% | 2.30T | 0.0% |
| iShares Core S&P 500 ETF IVV | 0.03% | 894.38B | 0.0% |
