Direxion Daily 20+ Year Treasury Bull 3X ETF

Frequently Asked Questions About TMF

What does TMF invest in?

The Direxion Daily 20+ Year Treasury Bull & Bear 3X ETFs endeavor to achieve daily investment outcomes, before accounting for fees and expenses. Specifically, these outcomes aim to replicate either 300% of the daily performance of the ICE U.S. Treasury 20+ Year Bond Index, or 300% of its inverse (opposite) movement. Investors should be aware that the successful attainment of these precise daily objectives is not guaranteed.

What is the expense ratio of TMF?

Direxion Daily 20+ Year Treasury Bull 3X ETF (TMF) charges an expense ratio of 1.01%. This is the annual fee deducted from fund assets to cover management and operations.

Is TMF a good long-term hold?

TMF is a leveraged fund designed to deliver a daily multiple of its underlying index. Daily reset compounding means returns over multi-day periods can diverge significantly from the headline multiple — typically negative drift in choppy markets. These funds are designed for short-term tactical use, not buy-and-hold. Review the fund's prospectus before holding more than a few days.

How does TMF's daily reset work?

TMF rebalances exposure each trading day to maintain its target leverage ratio against the next day's move. The daily reset means returns compound at the daily level — so a +1%, −1% sequence on the underlying doesn't return the underlying to flat after the leverage multiplier. Over time this path-dependence erodes returns in volatile markets and amplifies them in trending markets.

How big is TMF?

Direxion Daily 20+ Year Treasury Bull 3X ETF (TMF) manages $2.25B in total assets. AUM determines bid-ask liquidity and the fund's vulnerability to closure — funds below ~$50M are at higher risk of liquidation.

Is TMF actively managed or an index fund?

TMF's management style is described in the fund's prospectus. See the description on the Summary tab for the published strategy.