DUSL vs. UMDD

Last updated Jun 13, 2026

DUSL (Direxion Daily Industrials Bull 3X Shares) and UMDD (ProShares UltraPro MidCap400) are both Leveraged Equities funds - DUSL tracks the Industrials Select Sector Index (300%) while UMDD tracks the S&P MidCap 400 Index (300%). Both are passively managed. Over the past 5 years, DUSL returned 19.67%/yr vs 2.41%/yr for UMDD. Their correlation of 0.85 suggests significant overlap in exposure. DUSL charges 1.01%/yr vs 0.95%/yr for UMDD.

Performance

DUSL vs. UMDD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Direxion Daily Industrials Bull 3X Shares (DUSL) and ProShares UltraPro MidCap400 (UMDD). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, DUSL achieves a 34.09% return, which is significantly lower than UMDD's 41.42% return.

DUSL

• 1D: 2.31%
• 1M: 2.41%
• YTD: 34.09%
• 6M: 30.29%
• 1Y: 60.14%
• 3Y*: 45.34%
• 5Y*: 19.67%
• 10Y*: —

UMDD

• 1D: 2.20%
• 1M: 10.73%
• YTD: 41.42%
• 6M: 35.75%
• 1Y: 66.43%
• 3Y*: 23.57%
• 5Y*: 2.41%
• 10Y*: 12.78%

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

DUSL vs. UMDD - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
DUSL Direxion Daily Industrials Bull 3X Shares	34.09%	37.50%	34.75%	37.23%	-31.17%	60.72%	-19.77%	90.70%	-46.28%	47.58%
UMDD ProShares UltraPro MidCap400	41.42%	-2.57%	19.68%	27.21%	-49.60%	72.27%	-17.30%	78.90%	-40.29%	32.21%

Correlation

The correlation between DUSL and UMDD is 0.84, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.84
Correlation (3Y) Calculated over the trailing 3-year period	0.87
Correlation (5Y) Calculated over the trailing 5-year period	0.88
Correlation (All Time) Calculated using the full available price history since May 3, 2017	0.85

The correlation between DUSL and UMDD has been stable across timeframes, ranging from 0.84 to 0.88 - a consistent structural relationship.

DUSL vs. UMDD - Sectors Allocation Comparison

Sectors	DUSL	UMDD
Industrials	20.0%	13.4%
Utilities	1.1%	1.6%
Technology	0.8%	9.0%
Consumer Cyclical	0.1%	5.1%
Basic Materials	-	2.6%
Communication Services	-	0.5%
Consumer Defensive	-	2.2%
Energy	-	2.7%
Financial Services	-	7.1%
Healthcare	-	4.8%
Real Estate	-	3.9%

Return for Risk

DUSL vs. UMDD — Risk / Return Rank

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

DUSL

DUSL Risk / Return Rank: 40
DUSL Sharpe Ratio Rank: 39
DUSL Sortino Ratio Rank: 39
DUSL Omega Ratio Rank: 37
DUSL Calmar Ratio Rank: 41
DUSL Martin Ratio Rank: 42

UMDD

UMDD Risk / Return Rank: 49
UMDD Sharpe Ratio Rank: 45
UMDD Sortino Ratio Rank: 45
UMDD Omega Ratio Rank: 43
UMDD Calmar Ratio Rank: 58
UMDD Martin Ratio Rank: 56

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.

DUSL vs. UMDD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Direxion Daily Industrials Bull 3X Shares (DUSL) and ProShares UltraPro MidCap400 (UMDD). 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.

	DUSL	UMDD	Difference
Sharpe ratio: Return per unit of total volatility	1.23	1.40	-0.17
Sortino ratio: Return per unit of downside risk	1.82	2.01	-0.20
Omega ratio: Gain probability vs. loss probability	1.22	1.24	-0.03
Calmar ratio: Return relative to maximum drawdown	1.79	2.56	-0.77
Martin ratio: Return relative to average drawdown	5.91	8.58	-2.67

DUSL vs. UMDD - Sharpe Ratio Comparison

The current DUSL Sharpe Ratio is 1.23, which is comparable to the UMDD Sharpe Ratio of 1.40. The chart below compares the historical Sharpe Ratios of DUSL and UMDD, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

DUSL vs. UMDD - Drawdown Comparison

The maximum DUSL drawdown since its inception was -85.74%, roughly equal to the maximum UMDD drawdown of -86.24%. Use the drawdown chart below to compare losses from any high point for DUSL and UMDD.

Drawdown Indicators

	DUSL	UMDD	Difference
Max Drawdown Largest peak-to-trough decline	-85.74%	-86.24%	+0.50%
Max Drawdown (1Y) Largest decline over 1 year	-33.68%	-26.04%	-7.64%
Max Drawdown (3Y) Largest decline over 3 years	-50.86%	-60.33%	+9.47%
Max Drawdown (5Y) Largest decline over 5 years	-58.43%	-64.61%	+6.18%
Max Drawdown (10Y) Largest decline over 10 years	—	-86.24%	—
Current Drawdown Current decline from peak	-10.11%	-3.15%	-6.96%
Average Drawdown Average peak-to-trough decline	-21.96%	-23.58%	+1.62%
Ulcer Index Depth and duration of drawdowns from previous peaks	10.22%	7.78%	+2.44%

Volatility

DUSL vs. UMDD - Volatility Comparison

Direxion Daily Industrials Bull 3X Shares (DUSL) has a higher volatility of 18.87% compared to ProShares UltraPro MidCap400 (UMDD) at 14.80%. This indicates that DUSL's price experiences larger fluctuations and is considered to be riskier than UMDD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DUSL	UMDD	Difference
Volatility (1M) Calculated over the trailing 1-month period	18.87%	14.80%	+4.07%
Volatility (6M) Calculated over the trailing 6-month period	41.19%	35.26%	+5.93%
Volatility (1Y) Calculated over the trailing 1-year period	49.18%	47.64%	+1.54%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	52.90%	59.05%	-6.15%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	61.65%	62.32%	-0.67%

DUSL vs. UMDD - Expense Ratio Comparison

DUSL has a 1.01% expense ratio, which is higher than UMDD's 0.95% expense ratio.

Dividends

DUSL vs. UMDD - Dividend Comparison

DUSL's dividend yield for the trailing twelve months is around 8.54%, more than UMDD's 0.74% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DUSL Direxion Daily Industrials Bull 3X Shares	8.54%	11.39%	6.61%	1.28%	0.66%	0.07%	0.48%	1.01%	1.46%	0.57%	0.00%	0.00%
UMDD ProShares UltraPro MidCap400	0.74%	1.00%	0.76%	0.19%	0.49%	0.06%	0.08%	0.64%	0.32%	0.00%	0.03%	0.06%

Frequently Asked Questions

Can I hold both DUSL and UMDD in my portfolio?

DUSL and UMDD have a correlation of 0.84, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, DUSL or UMDD?

DUSL has higher volatility (18.87%) compared to UMDD (14.80%). In terms of maximum drawdown, DUSL dropped -85.74% vs UMDD's -86.24%.

Which ETF is better, DUSL or UMDD?

On 5-year performance, DUSL leads with 19.67% vs 2.41% for UMDD. On fees, UMDD is cheaper at 0.95% per year. On volatility, UMDD has been the lower-risk option at 14.80%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, DUSL or UMDD?

Over the 5-year period, DUSL has performed better with a 19.67% return vs 2.41%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, DUSL or UMDD?

UMDD is cheaper with a 0.95% expense ratio, compared with 1.01% for DUSL.

Which ETF pays a higher dividend yield, DUSL or UMDD?

DUSL has the higher dividend yield at 8.54%, compared with 0.74% for UMDD.

What is the main difference between DUSL and UMDD?

DUSL tracks Industrials Select Sector Index (300%), while UMDD tracks S&P MidCap 400 Index (300%). They also come from different issuers: Direxion and ProShares. Their fees differ too: 1.01% for DUSL and 0.95% for UMDD.

Which has better risk-adjusted returns?

UMDD currently has the higher Sharpe Ratio (1.40 vs 1.23), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.