The Direxion Daily 20+ Year Treasury Bull & Bear 3X Shares seek daily investment results, before fees and expenses, of 300%, or 300% of the inverse (or opposite), of the performance of the ICE U.S. Treasury 20+ Year Bond Index. There is no guarantee the funds will meet their stated investment objectives.
|Fund Symbol||Daily Target||Intra-day Value||Benchmark Index||Security Identifier||Expense Ratio (gross/net %)||Inception Date|
|TMF||300%||TMF.IV||IDCOT204||25459W540||1.06 / 1.06*||Apr 16, 2009|
|TMV||-300%||TMV.IV||IDCOT204||25460G849||1.01 / 1.01*||Apr 16, 2009|
These leveraged ETFs seek a return that is 300% or -300% of the return of their benchmark index for a single day. The funds should not be expected to provide three times or negative three times the return of the benchmark’s cumulative return for periods greater than a day.
Documents & Downloads
Strategy & Benefits
You know that TRADING is different than investing. But the opportunity to take advantage of short-term trends is only won, if you get the direction right.
Whether you’re a bull or a bear, Direxion is with you. Our leveraged ETFs are powerful tools built to help you:
- Magnify your short-term perspective with daily 3X leverage
- Go where there’s opportunity, with bull and bear funds for both sides of the trade; and
- Stay agile – with liquidity to trade through rapidly changing markets
Leveraged and inverse ETFs pursue daily leveraged investment objectives which means they are riskier than alternatives which do not use leverage. They seek daily goals and should not be expected to track the underlying index over periods longer than one day. They are not suitable for all investors and should be utilized only by investors who understand leverage risk and who actively manage their investments.
The ICE U.S. Treasury 20+ Year Bond Index (IDCOT204) is a market value weighted index that includes publicly issued U.S. Treasury securities that have a remaining maturity of greater than 20 years. Eligible securities must be fixed rate, denominated in U.S. dollars, and have $300 million or more of outstanding face value, excluding amounts held by the Federal Reserve. Securities excluded from the Index are inflation-linked securities, Treasury bills, cash management bills, any government agency debt issued with or without a government guarantee and zero-coupon issues that have been stripped from coupon-paying bonds. One cannot directly invest in an index.
Pricing & Performance
NAV and Market Price information as of September 29, 2023. Line chart shows pricing trend over the last 30 days.
- 4.83NAV $
- —Change $
- —Change %
- 4.82Market $
- 0.00Change $
- 0.00Change %
|monthly||1M %||3M %||YTD %||1Y %||3Y %||5Y %||10Y %||Since Inception||Inception Date||Expense Ratio*|
(Gross / Net %)
|NAV||-10.80||-19.32||-15.59||-42.98||-44.68||-18.70||-5.41||-4.05||04/16/2009||1.06 / 1.06*|
|quarterly||1M %||3M %||YTD %||1Y %||3Y %||5Y %||10Y %||Since Inception||Inception Date||Expense Ratio*|
(Gross / Net %)
|NAV||-0.80||-11.51||3.79||-36.23||-41.43||-15.52||-4.62||-2.69||04/16/2009||1.06 / 1.06*|
The Primary Listing Exchange is the NYSE Arca, Inc.
*The Net Expense Ratio includes management fees, other operating expenses and Acquired Fund Fees and Expenses. If Acquired Fund Fees and Expenses were excluded, the Net Expense Ratio would be 0.90% for TMF and 0.88% for TMV. The Funds’ adviser, Rafferty Asset Management, LLC (“Rafferty”), has entered into an Operating Expense Limitation Agreement with each Fund. Under the Operating Expense Limitation Agreement, Rafferty has contractually agreed to waive all or a portion of its management fee and/or reimburse the Funds for Other Expenses through September 1, 2024, to the extent that a Fund’s Total Annual Fund Operating Expenses exceed 0.95% of the Fund’s average daily net assets (excluding, as applicable, among other expenses, taxes, swap financing and related costs, acquired fund fees and expenses, dividends or interest on short positions, other interest expenses, brokerage commissions and extraordinary expenses). If these expenses were included, the expense ratio would be higher.
The performance data quoted represents past performance. Past performance does not guarantee future results. The investment return and principal value of an investment will fluctuate. An investor’s shares, when redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than the performance quoted. Returns for performance under one year are cumulative, not annualized. For the most recent month-end performance please visit the funds’ website at direxion.com.
Short-term performance, in particular, is not a good indication of a fund’s future performance, and an investment should not be made based solely on returns. Because of ongoing market volatility, fund performance may be subject to substantial short-term changes. For additional information, see the fund’s prospectus.
|Record Date||Ex Date||Pay Date||Income Dividend||Short-Term Capital Gain||Long-Term Capital Gain|