# Direxion Daily 20+ Year Treasury Bull 3X ETF (TMF): ETF Facts & Distributions > Markdown mirror of https://www.dividenddata.com/funds/tmf for AI agents. Same live data as the HTML page, regenerated on the same refresh cycle. Not investment advice. - Issuer: Direxion · Asset class: Fixed Income - Strategy: Leveraged · Inception: 2009-04-16 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. ## Key Facts | Metric | Value | |---|---| | Price | $29.36 | | Expense Ratio | 1.01% | | Assets Under Management | $2.03B | | NAV | $29.81 | | Holdings Count | 13 | | Distribution Yield (TTM) | 4.76% | | Annual Distribution (TTM) | $1.40 /share | | Distribution Frequency | Quarterly | | 52-Week Range | $24.52 – $44.13 | | Beta | 7.22 | ## Latest Distribution - Amount: $0.3506 /share - Ex-date: 2026-09-22 - Pay date: 2026-09-29 ## Frequently Asked Questions ### 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. ### What is TMF's dividend yield? TMF's trailing-twelve-month yield is 4.76%, calculated from the sum of dividends over the past year divided by the current price. ### What is the duration of TMF? Effective duration measures TMF's sensitivity to interest-rate changes: a duration of 6 means a 1% rate move shifts NAV by roughly 6% in the opposite direction. TMF's current duration is published on the fund's factsheet on the issuer's website. ### What is the credit quality of TMF? TMF's credit quality breakdown (the share of holdings rated AAA through CCC and below) is published on the fund's factsheet. Higher-quality (investment-grade) funds yield less but carry less default risk than high-yield / junk bond funds. ### What is the yield to maturity of TMF? Yield to maturity (YTM) is the total return you'd earn from TMF if every bond in the portfolio is held to maturity at the current price. TMF's YTM is published on the fund's factsheet on the issuer's website. It differs from the trailing-12-month yield because YTM reflects current bond prices rather than historical income paid. ### Does TMF pay a dividend? Yes, Direxion Daily 20+ Year Treasury Bull 3X ETF (TMF) distributes dividends to shareholders. The trailing-twelve-month yield is 4.76%. Full dividend history is on this page. ### How often does TMF pay dividends? Direxion Daily 20+ Year Treasury Bull 3X ETF pays dividends Quarterly. Each ex-dividend date, record date, and payment date is listed in the dividend history table on this page. ### When is TMF's next ex-dividend date? The most recently announced ex-dividend date for TMF was 2026-09-22. The next ex-date typically follows Quarterly; once announced it appears at the top of the dividend history table on this page. ### How much will TMF's expense ratio cost me over 30 years? On a $10,000 investment compounding at 7% gross return, a 1.01% expense ratio quietly compounds against your balance every year. The Fee Compounding Forecast card above projects the dollar drag for any holding period and assumption you pick. The typical result for a 1.0% expense ratio on a 30-year hold is roughly 25% of the final balance lost to fees. ### How does TMF charge its expense ratio? The expense ratio is deducted in tiny daily slices from TMF's net asset value (NAV). You never see a bill. The price quoted on every exchange is already net of fees. There's no "fee day" to avoid; the cost is continuous and built into the trading price. ### Why does TMF cost more than a fund like VOO? TMF is a leveraged fund (current expense ratio 1.01%). Daily-reset leverage products carry swap and financing costs that don't exist on a plain-vanilla equity ETF. The Cost Verdict card compares against the leveraged/inverse cohort where these costs are the norm. ### Are there cheaper alternatives to TMF? The Lower-Fee Alternatives card above lists ETFs following the same investment strategy as TMF (1.01%) but at a lower expense ratio. Each row shows the fee gap, the peer's AUM as a liquidity sanity-check, and a direct link to that fund's analysis page. Cheaper price doesn't automatically mean better. Verify the peer holds what you actually want. ## More on Dividend Data - Overview (HTML): https://www.dividenddata.com/funds/tmf - Distribution history: https://www.dividenddata.com/funds/tmf/dividend - Holdings & diversification: https://www.dividenddata.com/funds/tmf/diversification - Fees & cheaper alternatives: https://www.dividenddata.com/funds/tmf/expenses - Peer comparison: https://www.dividenddata.com/funds/tmf/peers Data sourced from primary filings and market data providers; see https://www.dividenddata.com/methodology.