Direxion Daily 20+ Year Treasury Bull 3X Shares

Triple the daily move of long-dated Treasury bonds is what TMF delivers, since the bonds themselves barely budge day to day. The fund targets three times the daily return of an index of US Treasuries maturing in 20 years or more, using swaps to gear the exposure. Long bonds are extremely sensitive to interest rates, and stacking 3x leverage on top makes TMF one of the sharpest ways to bet that rates will fall and bond prices will rise. Direxion rebalances daily, so the tripling applies to one session at a time; hold it through a volatile stretch and compounding drags returns away from a clean 3x. Traders use it to express a strong macro view on rates or to hedge, not as a long-term bond allocation. The 2022 rate surge showed how brutal the downside can be.

On MyRWA, TMF trades tokenized across 11 on-chain venues - see the listings below.