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Beacon

TMFDirexion Daily 20+ Year Treasury Bull 3X Shares

Take a bet17y track recordRanked #27 of 775 in this goal

Seeks daily investment results of 300% of the daily performance of the U.S. Treasury securities index.

By Direxion Funds · Launched 2009

Annual Cost

0.90%

#4,535 of 5,562 · expensive

Fund Size

$2.6B

#630 of 5,562 · large

Return (1Y)Goal

+2.8%

Track Record

17 years

#665 of 5,562 · established

Performance

Total-return NAV · USD
Growth of $10,000
$8,730-12.7%

Total-return NAV, USD. Net of fund fees, before tax.

Classification

How Beacon categorizes this fund

Asset class

Fixed income

Region

North america

Strategy

Leveraged

Index tracked

ICE US Treasury 20+ Year Bond Index

What it actually holds

By weight

Concentration

Top 10 holdings = 104.9% of fundconcentrated

ISHARES LEHMAN 20+ YEARS TREASURY BOND F
73.6%
DREYFUS
7.7%
DREYFUS GOVERNMENT CASH MANAGE
7.7%
GOLDMAN FINANCIAL
5.9%
GOLDMAN SACHS LIQ ES FD A
3.5%
N/A
2.4%
N/A
1.5%
N/A
1.2%
N/A
1.0%
N/A
0.3%

Asset allocation

Bonds
62.5%
Cash
42.1%

Risk profile

Last 12 months · Sharpe & Sortino need 3+ years
Volatility (1Y)
28.0%High

Year-on-year price swings

Max drawdown
-92.7%Severe

Worst peak-to-trough loss

Sharpe (3Y)
-0.43Below average
Sortino (3Y)
-0.59Moderate downside risk

Bond profile

Duration

3.5 years

Avg maturity

7.9 years

Credit ratings

US Government
62.5%
AA
100.0%

Where to buy

Listing

Exchange
NYSE Arca

Full fund details

Objective
Seeks daily investment results of 300% of the daily performance of the U.S. Treasury securities index.
Strategy
Invests primarily in financial instruments providing 3x daily leveraged exposure to U.S. Treasury securities with maturities over 20 years. Utilizes swap agreements and futures to achieve its investment objective, with daily rebalancing to maintain target exposure.
Inception date
April 16, 2009
Fund family
Direxion Funds

Our take

Structural notes on how this fund behaves. Read our guide on the 6 warning signs.

Leveraged
Warning

Leveraged ETF — not a long-term hold

This fund uses leverage to amplify daily returns (e.g. 2x or 3x of an index). Daily rebalancing creates volatility decay — over weeks and months, the fund's return drifts from the stated multiple. In trending markets with low realised volatility, leveraged index ETFs can outperform their nominal multiple; in sideways or volatile markets they bleed. Designed for short-term tactical use, not buy-and-hold.

Source: Cheng & Madhavan, 'The Dynamics of Leveraged and Inverse ETFs' (2009)

Why we flagged this: strategy=leveraged + leveraged_name_or_strategy

Educational analysis of structural product characteristics. Not investment advice. Always read the fund prospectus and consult a qualified advisor before investing. More

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Data updated on 2026-06-19