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TMF · Direxion Daily 20+ Year Treasury Bull 3x Shares
Over the last 15 years (2011-10 to 2026-10), $10,000 invested in TMF with dividends reinvested grew to $2,054, -9.96% a year, with a worst peak-to-trough fall of -92.92%. Past performance doesn't predict future results.
Growth of $10,000 · 2011-10 to 2026-10 · dividends reinvested
How TMF held up in past market crashes
TMF has been through 3 of the market crashes since 2000 in our data. Its deepest price fall was 69.7% in the 2022 bear market, when the S&P 500 fell 25.4%. Its price had not yet regained that high by the latest close (price only, not counting the dividends or interest it paid). No fund is safe from losses; past falls do not predict future ones.
| Crash | TMF deepest fall | S&P 500 (SPY) | Peak to bottom | Back to peak |
|---|---|---|---|---|
| 2018 fourth-quarter selloff | -13.1% | -20.2% | Sep 2018 to Nov 2018 | 1 months |
| 2020 COVID crash | -43.8% | -34.1% | Mar 2020 to Mar 2020 | Not yet |
| 2022 bear market | -69.7% | -25.4% | Jan 2022 to Oct 2022 | Not yet |
Price declines in the fund's listing currency, dividends not included, inside each crash's S&P 500 peak-to-bottom window. See how 50 popular ETFs compare in the crash study.
About TMF
Direxion Daily 20+ Year Treasury Bull 3X Shares is a leveraged fixed-income exchange-traded fund designed to deliver three times the daily performance of long-duration U.S. Treasury bonds. TMF seeks exposure to the ICE U.S. Treasury 20+ Year Bond Index through a combination of swaps, Treasury-related securities, and other instruments that help the fund maintain its amplified daily objective. The product is aimed at investors looking for tactical exposure to the long end of the U.S. government bond market, where prices are highly sensitive to changes in interest rates. As a Direxion ETF, it plays a specialized role in the market by offering a concentrated, short-term tool for expressing views on Treasury price movements rather than a traditional buy-and-hold bond allocation. The fund is part of Direxion’s leveraged fixed-income lineup and is used by market participants seeking magnified exposure to U.S. Treasury duration.
Put TMF to the test
Every tool below opens prefilled with TMF: free, no account needed.
Backtest TMF →
Full history, any date range, benchmarks, drawdowns, rolling returns.
Would TMF survive 2008? →
What actually happened to it in the crisis: real drawdown and recovery.
Project it forward →
Monte Carlo simulation of where it could go from here.
Compare TMF vs VTI →
Side by side with the total US market: returns, drawdowns and volatility over their shared history.
Replay $100/mo into TMF →
Animated growth of steady monthly contributions.
Fundamentals →
Holdings-level financials where available.
Educational use only, not investment advice. Results are hypothetical.Read full disclaimer
This tool is for educational and informational purposes only and does not provide financial, investment, tax, legal, or accounting advice. Results are hypothetical and based on historical data and assumptions that may be inaccurate. Past performance does not guarantee future results. Consult a licensed professional before making investment decisions.