DFNM vs. UXRP

Last updated Jun 24, 2026

DFNM (Dimensional National Municipal Bond ETF) and UXRP (ProShares Ultra XRP ETF) are both exchange-traded funds - DFNM is a Municipal Bonds fund actively managed by Dimensional, while UXRP is a Leveraged Cryptocurrency fund tracking the Bloomberg XRP Index. DFNM is actively managed, while UXRP is passively managed. At a 0.02 correlation, their price movements are largely independent. DFNM charges 0.17%/yr vs 1.67%/yr for UXRP.

Performance

DFNM vs. UXRP - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Dimensional National Municipal Bond ETF (DFNM) and ProShares Ultra XRP ETF (UXRP). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, DFNM achieves a 1.14% return, which is significantly higher than UXRP's -75.34% return.

DFNM

• 1D: -0.29%
• 1M: 0.63%
• YTD: 1.14%
• 6M: 1.27%
• 1Y: 4.87%
• 3Y*: 3.10%
• 5Y*: —
• 10Y*: —

UXRP

• 1D: -5.74%
• 1M: -35.30%
• YTD: -75.34%
• 6M: -76.77%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

DFNM vs. UXRP - Yearly Performance Comparison

	2026 (YTD)	2025
DFNM Dimensional National Municipal Bond ETF	1.14%	3.24%
UXRP ProShares Ultra XRP ETF	-75.34%	-77.43%

Correlation

The correlation between DFNM and UXRP is 0.02, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jul 15, 2025	0.02

Return for Risk

DFNM vs. UXRP — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

DFNM

DFNM Risk / Return Rank: 78
DFNM Sharpe Ratio Rank: 90
DFNM Sortino Ratio Rank: 91
DFNM Omega Ratio Rank: 94
DFNM Calmar Ratio Rank: 58
DFNM Martin Ratio Rank: 58

UXRP

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

DFNM vs. UXRP - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Dimensional National Municipal Bond ETF (DFNM) and ProShares Ultra XRP ETF (UXRP). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	DFNM	UXRP	Difference
Sharpe ratio: Return per unit of total volatility	2.80	—	—
Sortino ratio: Return per unit of downside risk	4.00	—	—
Omega ratio: Gain probability vs. loss probability	1.63	—	—
Calmar ratio: Return relative to maximum drawdown	2.66	—	—
Martin ratio: Return relative to average drawdown	9.53	—	—

Drawdowns

DFNM vs. UXRP - Drawdown Comparison

The maximum DFNM drawdown since its inception was -6.99%, smaller than the maximum UXRP drawdown of -96.09%. Use the drawdown chart below to compare losses from any high point for DFNM and UXRP.

Drawdown Indicators

	DFNM	UXRP	Difference
Max Drawdown Largest peak-to-trough decline	-6.99%	-96.09%	+89.10%
Max Drawdown (1Y) Largest decline over 1 year	-1.84%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-2.82%	—	—
Current Drawdown Current decline from peak	-0.50%	-96.09%	+95.59%
Average Drawdown Average peak-to-trough decline	-1.94%	-72.54%	+70.60%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.51%	—	—

Volatility

Volatility by Period

	DFNM	UXRP	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.51%	—	—
Volatility (6M) Calculated over the trailing 6-month period	1.33%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	1.74%	148.77%	-147.03%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	2.53%	148.77%	-146.24%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	2.53%	148.77%	-146.24%

DFNM vs. UXRP - Expense Ratio Comparison

DFNM has a 0.17% expense ratio, which is lower than UXRP's 1.67% expense ratio.

Dividends

DFNM vs. UXRP - Dividend Comparison

DFNM's dividend yield for the trailing twelve months is around 2.90%, more than UXRP's 0.02% yield.

Position	TTM	2025	2024	2023	2022	2021
DFNM Dimensional National Municipal Bond ETF	2.90%	2.94%	2.74%	2.39%	1.16%	0.05%
UXRP ProShares Ultra XRP ETF	0.02%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both DFNM and UXRP in my portfolio?

DFNM and UXRP have a correlation of 0.02, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, DFNM or UXRP?

On fees, DFNM is cheaper at 0.17% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, DFNM or UXRP?

DFNM is cheaper with a 0.17% expense ratio, compared with 1.67% for UXRP.

Which ETF pays a higher dividend yield, DFNM or UXRP?

DFNM has the higher dividend yield at 2.90%, compared with 0.02% for UXRP.

What is the main difference between DFNM and UXRP?

DFNM is categorized as Municipal Bonds, while UXRP is Leveraged Cryptocurrency. They also come from different issuers: Dimensional and ProShares. Their fees differ too: 0.17% for DFNM and 1.67% for UXRP.