# Direxion Daily 20+ Year Treasury Bear 3X ETF (TMV) ETF

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> **Last updated:** 2026-03-15 UTC  
> **Disclaimer:** This is not financial advice. Educational purposes only.

## Quick Answer

The Direxion Daily 20+ Year Treasury Bull & Bear 3X ETFs seek daily investment results, before fees and expenses, of 300%, or 300% of the inverse (or opposite), of the performance of the ICE U.S. 0.97% expense ratio, $183M AUM, 10 holdings, inception 2009.

## Fund Snapshot

- **Fund Name:** Direxion Daily 20+ Year Treasury Bear 3X ETF
- **Symbol:** TMV
- **Asset Class:** Equity
- **Issuer:** Direxion
- **Domicile:** US
- **Expense Ratio:** 0.97%
- **NAV:** $37.29
- **AUM:** $182.61M
- **Inception Date:** 2009-04-16
- **Holdings Count:** 10
- **Dividend Yield:** 320.00%
- **Beta:** -6.88

## About Direxion Daily 20+ Year Treasury Bear 3X ETF

The Direxion Daily 20+ Year Treasury Bull & Bear 3X ETFs seek daily investment results, before fees and expenses, of 300%, or 300% of the inverse (or opposite), of the performance of the ICE U.S. Treasury 20+ Year Bond Index. There is no guarantee the funds will achieve their stated investment objectives.

## Investment Strategy

The Direxion Daily 20+ Year Treasury Bull & Bear 3X ETFs seek daily investment results, before fees and expenses, of 300%, or 300% of the inverse (or opposite), of the performance of the ICE U.S. Treasury 20+ Year Bond Index. There is no guarantee the funds will achieve their stated investment objectives. Direxion Daily 20+ Year Treasury Bear 3X ETF provides exposure to the equity market. The portfolio is concentrated with 10 holdings.

## Risk Profile

Direxion Daily 20+ Year Treasury Bear 3X ETF holds only 10 positions, creating elevated concentration risk where poor performance from a few holdings can significantly impact returns. Heavy allocation to Cash & Others (100.0%) means sector-specific downturns could disproportionately affect performance. A beta of -6.88 indicates lower volatility relative to the broader market. The 0.97% expense ratio is above average and will reduce net returns over time.

## Sector Allocation

- Cash & Others: 100.0%

## Country Allocation

- Other: 100.0%

## Frequently Asked Questions

### What is Direxion Daily 20+ Year Treasury Bear 3X ETF (TMV)?

The Direxion Daily 20+ Year Treasury Bull & Bear 3X ETFs seek daily investment results, before fees and expenses, of 300%, or 300% of the inverse (or opposite), of the performance of the ICE U.S. Treasury 20+ Year Bond Index. It holds 10 securities. With $183M in assets under management, it is a funds in its category.

### What is the expense ratio for TMV?

Direxion Daily 20+ Year Treasury Bear 3X ETF has an expense ratio of 0.97%, which is considered higher than average for equity ETFs. This means for every $10,000 invested, annual fees would be approximately $97. Lower expense ratios generally lead to better long-term returns, all else being equal.

### How long has TMV been around?

Direxion Daily 20+ Year Treasury Bear 3X ETF was launched in 2009, making it 17 years old. With over a decade of history, it has navigated various market conditions. It is managed by Direxion.

### Does TMV pay dividends?

Yes, Direxion Daily 20+ Year Treasury Bear 3X ETF currently offers a dividend yield of approximately 3.20%. This yield is in line with market averages. Dividend distributions are typically paid quarterly, though the amount can vary.

### What is the current NAV of TMV?

Direxion Daily 20+ Year Treasury Bear 3X ETF has a net asset value (NAV) of approximately $37.29 per share. The NAV represents the per-share value of the fund's underlying assets minus liabilities. Market price may differ slightly from NAV due to supply and demand dynamics during trading hours.

## Data Sources

- Yahoo Finance (ETF bundle)
- Issuer prospectus
- Stock Expert AI proprietary analysis

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All content on Stock Expert AI is for educational and informational purposes only. Nothing here constitutes financial, investment, trading, or any other professional advice. Users should consult qualified financial advisors before making investment decisions.

ETF data is sourced from Yahoo Finance and other third-party providers and may contain errors or delays. Past performance does not guarantee future results. Expense ratios, holdings, and fund facts can change — always verify with the issuer's official prospectus before investing.

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