TMF

The Direxion Daily 20+ Year Treasury Bull 3X Shares (TMF) is an exchange-traded fund that seeks to deliver daily investment results equal to three times the performance of the ICE U.S. Treasury 20+ Year Bond Index. The ETF is managed by Direxion and trades under the ticker TMF on NYSE Arca.

Classified as a leveraged fixed-income ETF focused on U.S. Treasury securities, TMF aims to reflect, before fees and expenses, three times the daily return of its benchmark index.

The ICE U.S. Treasury 20+ Year Bond Index consists of U.S. Treasury securities with maturities greater than 20 years. Constituents are weighted by market value according to the index methodology. Periodic adjustments and rebalancing are reflected in the ETF’s structure.

Composition and exposure profile

TMF provides concentrated exposure to long-term U.S. government bonds characterized by extended duration and high sensitivity to interest rate movements. Exposure profile includes:

• U.S. Treasury bonds with maturities greater than 20 years.
• Long-duration sovereign fixed income.
• Elevated sensitivity to changes in long-term interest rates.

The leveraged structure amplifies the impact of rate movements on the fund’s performance.

Structure and costs

TMF shares trade on the secondary market on NYSE Arca during regular trading hours. Creation and redemption occur through authorized participants, helping maintain alignment between market price and net asset value.

The fund charges a management fee as outlined in its prospectus and does not apply a performance fee. As a leveraged ETF, its operational structure reflects the use of derivatives and frequent portfolio adjustments.

History and evolution of the ETF

The Direxion Daily 20+ Year Treasury Bull 3X Shares was launched to provide daily leveraged exposure to long-term U.S. Treasury bonds. Over time, it has become a vehicle commonly used in tactical strategies related to interest rate movements.

In recent years, TMF has reflected volatility associated with the Federal Reserve’s tightening cycle, fluctuations in Treasury yields, and shifts in inflation expectations, highlighting the sensitivity inherent to leveraged products.

Additional Information

Direxion Daily 20+ Year Treasury Bull 3X Shares (United States) is an exchange-traded fund (ETF), with assets under management totaling $2.85 B.

Over the past 12 months, Direxion Daily 20+ Year Treasury Bull 3X Shares recorded a return of 2.83%, with its price trading between $34.38 and $44.14 during the same period.

The ETF is traded under the ticker TMF.