TMV vs SPY

Comparison between DIREXION DAILY 20+ YEAR TREASURY BEAR 3X SHARES (TMV, ETF) and SPDR S&P 500 ETF Trust (SPY, ETF).

5-Year PerformanceTMV has outperformed SPY, delivering a return of +19.4% compared to +13.3%

TMV vs SPY - Performance Comparison

Log

Key Characteristics

Financial metrics and valuation ratios

Metric	TMV(ETF)	SPY(ETF)
Net Assets	$176M	$735B
Expense Ratio	N/A	0.09%
Max Drawdown	99.10%	56.47%
Sharpe Ratio	0.08	1.62
5Y Beta	-0.19	1.00
P/E Ratio	N/A	28.99
Forward P/E	N/A	22.37
5Y Dividends CAGR	95.39%	5.43%
5Y EPS CAGR	N/A	26.05%
Debt to Equity	N/A	32.40%
P/S Ratio	N/A	3.74
P/B Ratio	N/A	5.61

Net Assets

TMV

$176M

Winner

SPY

$735B

Expense Ratio

TMV

N/A

SPY

0.09%

Max Drawdown

TMV

99.10%

Winner

SPY

56.47%

Sharpe Ratio

TMV

0.08

Winner

SPY

1.62

5Y Beta

Winner

TMV

-0.19

SPY

1.00

P/E Ratio

TMV

N/A

SPY

28.99

Forward P/E

TMV

N/A

SPY

22.37

5Y Dividends CAGR

Winner

TMV

95.39%

SPY

5.43%

5Y EPS CAGR

TMV

N/A

SPY

26.05%

Debt to Equity

TMV

N/A

SPY

32.40%

P/S Ratio

TMV

N/A

SPY

3.74

P/B Ratio

TMV

N/A

SPY

5.61

TMV vs SPY - Holdings Comparison

TMV and SPY have 0 common holdings. Overlap is 0.00%

TMV's top 25 holdings weight is 46.00%. SPY's top 25 holdings weight is 52.37%.

Rank	TMV	SPY
#1	GOLDMAN SACHS FS TREASURY INTMS INSTL (FTIXX) - 46.00%	NVIDIA CORP (NVDA) - 8.10%
#2	N/A	APPLE INC (AAPL) - 7.02%
#3	N/A	MICROSOFT CORP (MSFT) - 4.79%
#4	N/A	AMAZON.COM INC (AMZN) - 4.02%
#5	N/A	ALPHABET INC CLASS A (GOOGL) - 3.51%
#6	N/A	BROADCOM INC (AVGO) - 3.10%
#7	N/A	ALPHABET INC CLASS C (GOOG) - 2.79%
#8	N/A	META PLATFORMS INC CLASS A (META) - 2.08%
#9	N/A	TESLA INC (TSLA) - 1.89%
#10	N/A	MICRON TECHNOLOGY INC (MU) - 1.56%
#11	N/A	BERKSHIRE HATHAWAY INC CLASS B (BRK-B) - 1.37%
#12	N/A	ELI LILLY AND CO (LLY) - 1.31%
#13	N/A	JPMORGAN CHASE & CO (JPM) - 1.28%
#14	N/A	ADVANCED MICRO DEVICES INC (AMD) - 1.27%
#15	N/A	EXXON MOBIL CORP (XOM) - 0.97%
#16	N/A	INTEL CORP (INTC) - 0.90%
#17	N/A	JOHNSON & JOHNSON (JNJ) - 0.86%
#18	N/A	VISA INC CLASS A (V) - 0.85%
#19	N/A	WALMART INC (WMT) - 0.81%
#20	N/A	CISCO SYSTEMS INC (CSCO) - 0.72%
#21	N/A	COSTCO WHOLESALE CORP (COST) - 0.69%
#22	N/A	CATERPILLAR INC (CAT) - 0.66%
#23	N/A	MASTERCARD INC CLASS A (MA) - 0.62%
#24	N/A	LAM RESEARCH CORP (LRCX) - 0.62%
#25	N/A	ABBVIE INC (ABBV) - 0.58%
Total Holdings	1	505

TMV vs SPY - Historical Returns

Returns include dividend reinvestment.

Period	TMV	SPY
1 month	+0.91%	+1.90%
3 months	+12.45%	+8.55%
6 months	+9.22%	+8.18%
1 year	+1.88%	+25.79%
5 years(CAGR)	+19.37%	+13.32%
10 years(CAGR)	-0.89%	+15.19%
Max(CAGR)	-14.72%	+8.47%

TMV

+0.91%

Winner

SPY

+1.90%

Winner

TMV

+12.45%

SPY

+8.55%

Winner

TMV

+9.22%

SPY

+8.18%

TMV

+1.88%

Winner

SPY

+25.79%

5Y(CAGR)

Winner

TMV

+19.37%

SPY

+13.32%

10Y(CAGR)

TMV

-0.89%

Winner

SPY

+15.19%

Max(CAGR)

TMV

-14.72%

Winner

SPY

+8.47%

TMV vs SPY - Annual Returns (1999 - 2026)

Returns include dividend reinvestment.

Year	TMV	SPY
2026	+5.38%	+8.26%
2025	-3.14%	+18.00%
2024	+37.13%	+25.59%
2023	-4.35%	+26.72%
2022	+132.15%	-18.64%
2021	+0.54%	+30.52%
2020	-52.70%	+17.28%
2019	-33.29%	+31.09%
2018	+0.85%	-5.24%
2017	-25.55%	+20.78%
2016	-12.35%	+13.59%
2015	-8.92%	+1.31%
2014	-55.94%	+14.56%
2013	+29.05%	+29.00%
2012	-23.61%	+14.17%
2011	-69.19%	+0.85%
2010	-36.44%	+13.14%
2009	+24.08%	+22.67%
2008	N/A	-36.25%
2007	N/A	+5.32%
2006	N/A	+13.85%
2005	N/A	+5.32%
2004	N/A	+10.75%
2003	N/A	+24.18%
2002	N/A	-22.42%
2001	N/A	-10.13%
2000	N/A	-8.84%
1999	N/A	+8.61%

TMV vs SPY Drawdown Comparison

The maximum drawdown for TMV was -98.96%, occurring on Aug 4, 2020. This drawdown has not yet recovered.

The maximum drawdown for SPY was -55.20%, occurring on Mar 9, 2009. Recovery took 1224 trading sessions.

The current TMV drawdown is -95.89%. The current SPY drawdown is -2.90%.

Rank	TMV	SPY
#1	-98.96% Jun 10, 2009 - Aug 4, 2020	-55.20% Oct 9, 2007 - Aug 16, 2012
#2	-13.94% May 27, 2009 - Jun 10, 2009	-47.50% Mar 24, 2000 - Oct 26, 2006
#3	-11.52% May 7, 2009 - May 21, 2009	-33.70% Feb 19, 2020 - Aug 10, 2020
#4	-5.34% Apr 17, 2009 - Apr 22, 2009	-24.50% Jan 3, 2022 - Dec 13, 2023
#5	-2.03% Apr 24, 2009 - Apr 28, 2009	-19.34% Sep 20, 2018 - Apr 12, 2019
#6	-1.60% May 1, 2009 - May 7, 2009	-18.76% Feb 19, 2025 - Jun 26, 2025
#7	-0.68% Apr 22, 2009 - Apr 24, 2009	-13.02% Jul 20, 2015 - Apr 18, 2016
#8	N/A	-10.10% Jan 26, 2018 - Aug 6, 2018
#9	N/A	-9.44% Sep 2, 2020 - Nov 11, 2020
#10	N/A	-9.30% Jan 19, 2000 - Mar 17, 2000
#11	N/A	-9.05% Jul 19, 2007 - Oct 5, 2007
#12	N/A	-8.88% Jan 27, 2026 - Apr 14, 2026
#13	N/A	-8.41% Jul 16, 2024 - Sep 19, 2024
#14	N/A	-7.35% Sep 14, 2012 - Jan 2, 2013
#15	N/A	-7.27% Sep 18, 2014 - Oct 31, 2014

Correlation

Correlation between TMV and SPY is -0.53 which considered as a moderate negative correlation - the stocks show some tendency to move in opposite directions.

-0.53

-101

Dividend Comparison (1999 - 2026)

TMV vs SPY dividend yield comparison.

Year	TMV	SPY
2026	0.98%	0.24%
2025	2.85%	1.07%
2024	3.41%	1.21%
2023	3.87%	1.40%
2022	0.00%	1.65%
2021	0.00%	1.20%
2020	0.37%	1.52%
2019	1.60%	1.75%
2018	0.62%	2.04%
2017	0.00%	1.80%
2016	0.00%	2.03%
2015	0.00%	2.06%
2014	0.00%	1.87%
2013	0.00%	1.81%
2012	0.00%	2.18%
2011	0.00%	2.05%
2010	0.00%	1.80%
2009	10.77%	1.95%
2008	0.00%	3.02%
2007	0.00%	1.85%
2006	0.00%	1.73%
2005	0.00%	1.73%
2004	0.00%	1.82%
2003	0.00%	1.47%
2002	0.00%	1.70%
2001	0.00%	1.25%
2000	0.00%	1.15%
1999	0.00%	0.24%

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TMV vs SPY

TMV vs SPY - Performance Comparison

Key Characteristics

TMV vs SPY - Holdings Comparison

TMV vs SPY - Historical Returns

TMV vs SPY - Annual Returns (1999 - 2026)

TMV vs SPY Drawdown Comparison

Correlation

Dividend Comparison (1999 - 2026)

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