TMV vs VOO
Direxion Daily 20+ Year Treasury Bear 3X ETF vs Vanguard S&P 500 ETF
Quick Verdict
VOO has a lower expense ratio. VOO delivered stronger 1-year returns. VOO offers more diversification with 505 holdings.
Side-by-Side Comparison
| Metric | TMV | VOO | Winner |
|---|---|---|---|
| Expense Ratio | 0.97% | 0.03% | |
| AUM | $180M | $979.0B | |
| Dividend Yield | 2.60% | 1.09% | |
| Holdings | 9 | 509 | |
| YTD Return | +16.76% | +13.79% | |
| 1Y Return | +17.04% | +23.01% | |
| 3Y Return (annualized) | +9.75% | +21.78% | |
| 5Y Return (annualized) | +26.10% | +13.39% | |
| Volatility (annualized) | 40.1% | 14.1% | |
| Max Drawdown | -99.1% | -34.3% | |
| Fund Family | Direxion Shares ETF Trust | Vanguard (US) | |
| Category | Alternative | Equity | |
| Inception | Apr 16, 2009 | Sep 7, 2010 |
TMV vs VOO Performance
Direxion Daily 20+ Year Treasury Bear 3X ETF (TMV) is a ETF from Direxion Shares ETF Trust and Vanguard S&P 500 ETF (VOO) is a ETF from Vanguard (US). Over the past year TMV returned +17.04% while VOO returned +23.01%. Year to date, TMV is up 16.76% versus a gain of 13.79% for VOO.
Over three years, TMV compounded at +9.75% per year against +21.78% for VOO; over five years the annualized figures are +26.10% and +13.39% respectively. Across the full 16-year window we track, VOO has the edge at +13.57% annualized vs -14.79%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
TMV has been the more volatile fund, with annualized monthly volatility of 40.1% compared with 14.1% for VOO. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -99.1% for TMV and -34.3% for VOO. Drawdown depth is worth weighing if you expect to sell during market stress rather than ride it out.
The two funds' monthly returns correlate at 0.03. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
TMV charges 0.97% per year while VOO charges 0.03%. On a $10,000 position that is $97 vs $3 annually, a gap of $94 per year that compounds over a long holding period. On income, TMV currently yields 2.60% against 1.09% for VOO.
Holdings Overlap
TMV and VOO share 0 holdings out of 508 unique holdings combined, representing a 0.0% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, TMV or VOO?
TMV has an expense ratio of 0.97% while VOO charges 0.03%. VOO is the cheaper option. On a $10,000 investment, that is $94 per year of difference.
Which performed better, TMV or VOO?
Over the past year TMV returned +17.04% vs +23.01% for VOO, so VOO leads on 1-year performance. Over the longest common window we track (16 years), TMV annualized -14.79% vs +13.57% for VOO. Past performance does not guarantee future results.
Which is riskier, TMV or VOO?
TMV has been the more volatile fund at 40.1% annualized versus 14.1% for VOO. Worst drawdown: TMV -99.1% vs VOO -34.3%.
Should I hold both TMV and VOO?
TMV and VOO have a monthly-return correlation of 0.03, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between TMV and VOO?
TMV and VOO share 0 common holdings with a 0.0% weight overlap. Combined, they hold 508 unique securities.
Which pays a higher dividend, TMV or VOO?
TMV yields 2.60% while VOO yields 1.09%, so TMV currently pays the higher dividend yield.
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