TMF vs WANT

TMFADirexion Daily 20+ Year Treasury Bull 3X ETF

WANTDDirexion Daily Consumer Discretionary Bull 3X ETF

In short

TMF Three times the daily move of long-dated Treasuries, reset every day. Where most 3x funds aim at stocks, TMF points its leverage at the 20-year-plus end of the curve, and has been doing it since 2009.

WANT Direxion's 3x bet on the American shopper. WANT aims for 300% of the daily move in the Consumer Discretionary Select Sector Index, about 60 consumer-facing stocks. A day-trader's tool by design.

Stated mandate

TMF The Fund seeks pre-fee and expense investment results equal to 300% of the daily performance of the ICE U.S. Treasury 20+ Year Bond Index. It is designed for a single trading day, and longer-period results may differ because daily returns compound.

WANT The fund seeks daily investment results, before fees and expenses, equal to 300% of the performance of the Consumer Discretionary Select Sector Index.

Why people hold it

• TMF A rate bet without an options account: it targets 300% of the daily move of the ICE U.S. Treasury 20+ Year Bond Index.
• 0.90% net of a waiver through September 1, 2027 (1.01% gross), below the category median for 3x funds.
• One of the more heavily traded funds in the leveraged group, which generally helps keep spreads thin for in-and-out trading.
• Running since 2009, among the longest-lived 3x funds, through several very different rate regimes.

• WANT Single-sector leverage, undiluted: it aims for 300% of the Consumer Discretionary Select Sector Index's daily move, with no stock picking and no options overlay.
• Leverage inside an ETF wrapper, so no margin account and no borrowing on your end; the exposure arrives as one ticker you can buy and sell all day.
• Live since 2018, so its daily-reset behavior shows up in actual market history, not just in a prospectus risk section.

Worth knowing

• TMF Daily reset: over more than one day, results can drift well away from 3x the index's move, and choppy stretches grind compounded returns down.
• Triple duration cuts both ways. A 1% day in the index becomes roughly 3% here, up or down.
• Distributions come quarterly, and the prospectus frames the fund as a single-day tool rather than a hold-and-forget position.

• WANT The reset is daily. Hold longer and returns compound off each close, so multi-day results can diverge from 3x the index move, most of all in choppy markets.
• One of the smaller, thinner-traded names on the 3x shelf, so spreads and order size matter more here than with the category's giants.
• Costs 1.00% net of a waiver through September 1, 2027 (1.03% gross), near the category median but above stablemate SOXL at 0.75% net of a waiver through September 1, 2027.

Full TMF profile⁠

Full WANT profile⁠