DUSL vs. UXI

Last updated Jun 23, 2026

DUSL (Direxion Daily Industrials Bull 3X Shares) and UXI (ProShares Ultra Industrials) are both Leveraged Equities funds - DUSL tracks the Industrials Select Sector Index (300%) while UXI tracks the Dow Jones U.S. Industrials Index (200%). Both are passively managed. Over the past 5 years, DUSL returned 23.43%/yr vs 14.41%/yr for UXI. Their correlation of 0.95 suggests significant overlap in exposure. DUSL charges 1.01%/yr vs 0.95%/yr for UXI.

Performance

DUSL vs. UXI - Performance Comparison

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

Returns By Period

In the year-to-date period, DUSL achieves a 47.77% return, which is significantly higher than UXI's 32.50% return.

DUSL

• 1D: 2.09%
• 1M: 17.20%
• YTD: 47.77%
• 6M: 42.19%
• 1Y: 83.00%
• 3Y*: 51.16%
• 5Y*: 23.43%
• 10Y*: —

UXI

• 1D: 1.10%
• 1M: 11.77%
• YTD: 32.50%
• 6M: 29.22%
• 1Y: 54.48%
• 3Y*: 36.72%
• 5Y*: 14.41%
• 10Y*: 20.92%

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

DUSL vs. UXI - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
DUSL Direxion Daily Industrials Bull 3X Shares	47.77%	37.50%	34.75%	37.23%	-31.17%	60.72%	-19.77%	90.70%	-46.28%	47.58%
UXI ProShares Ultra Industrials	32.50%	28.84%	26.48%	27.34%	-32.90%	34.64%	16.37%	67.44%	-28.13%	32.17%

Correlation

The correlation between DUSL and UXI is 0.99 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.99
Correlation (3Y) Calculated over the trailing 3-year period	0.99
Correlation (5Y) Calculated over the trailing 5-year period	0.98
Correlation (All Time) Calculated using the full available price history since May 3, 2017	0.95

The correlation between DUSL and UXI has been stable across timeframes, ranging from 0.95 to 0.99 - a consistent structural relationship.

DUSL vs. UXI - Sectors Allocation Comparison

Sectors	DUSL	UXI
Industrials	18.7%	54.0%
Utilities	0.9%	3.2%
Technology	0.8%	2.1%
Consumer Cyclical	0.1%	0.3%
Basic Materials	-	-
Communication Services	-	-
Consumer Defensive	-	-
Energy	-	-
Financial Services	-	-
Healthcare	-	-
Real Estate	-	-

Return for Risk

DUSL vs. UXI — Risk / Return Rank

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

DUSL

DUSL Risk / Return Rank: 48
DUSL Sharpe Ratio Rank: 51
DUSL Sortino Ratio Rank: 46
DUSL Omega Ratio Rank: 43
DUSL Calmar Ratio Rank: 52
DUSL Martin Ratio Rank: 50

UXI

UXI Risk / Return Rank: 48
UXI Sharpe Ratio Rank: 51
UXI Sortino Ratio Rank: 48
UXI Omega Ratio Rank: 44
UXI Calmar Ratio Rank: 48
UXI Martin Ratio Rank: 49

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. UXI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Direxion Daily Industrials Bull 3X Shares (DUSL) and ProShares Ultra Industrials (UXI). 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	UXI	Difference
Sharpe ratio: Return per unit of total volatility	1.69	1.69	0.00
Sortino ratio: Return per unit of downside risk	2.24	2.31	-0.07
Omega ratio: Gain probability vs. loss probability	1.27	1.28	-0.01
Calmar ratio: Return relative to maximum drawdown	2.48	2.32	+0.16
Martin ratio: Return relative to average drawdown	8.14	8.19	-0.05

DUSL vs. UXI - Sharpe Ratio Comparison

The current DUSL Sharpe Ratio is 1.69, which is comparable to the UXI Sharpe Ratio of 1.69. The chart below compares the historical Sharpe Ratios of DUSL and UXI, 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. UXI - Drawdown Comparison

The maximum DUSL drawdown since its inception was -85.74%, roughly equal to the maximum UXI drawdown of -89.01%. Use the drawdown chart below to compare losses from any high point for DUSL and UXI.

Drawdown Indicators

	DUSL	UXI	Difference
Max Drawdown Largest peak-to-trough decline	-85.74%	-89.01%	+3.27%
Max Drawdown (1Y) Largest decline over 1 year	-33.68%	-23.59%	-10.09%
Max Drawdown (3Y) Largest decline over 3 years	-50.86%	-36.42%	-14.44%
Max Drawdown (5Y) Largest decline over 5 years	-58.43%	-48.25%	-10.18%
Max Drawdown (10Y) Largest decline over 10 years	—	-66.48%	—
Current Drawdown Current decline from peak	-0.94%	0.00%	-0.94%
Average Drawdown Average peak-to-trough decline	-21.92%	-22.56%	+0.64%
Ulcer Index Depth and duration of drawdowns from previous peaks	10.23%	6.67%	+3.56%

Volatility

DUSL vs. UXI - Volatility Comparison

Direxion Daily Industrials Bull 3X Shares (DUSL) has a higher volatility of 17.61% compared to ProShares Ultra Industrials (UXI) at 11.54%. This indicates that DUSL's price experiences larger fluctuations and is considered to be riskier than UXI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DUSL	UXI	Difference
Volatility (1M) Calculated over the trailing 1-month period	17.61%	11.54%	+6.07%
Volatility (6M) Calculated over the trailing 6-month period	40.96%	26.97%	+13.99%
Volatility (1Y) Calculated over the trailing 1-year period	49.34%	32.46%	+16.88%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	52.82%	36.09%	+16.73%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	61.61%	39.55%	+22.06%

DUSL vs. UXI - Expense Ratio Comparison

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

Dividends

DUSL vs. UXI - Dividend Comparison

DUSL's dividend yield for the trailing twelve months is around 7.75%, more than UXI's 0.62% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DUSL Direxion Daily Industrials Bull 3X Shares	7.75%	11.39%	6.61%	1.28%	0.66%	0.07%	0.48%	1.01%	1.46%	0.57%	0.00%	0.00%
UXI ProShares Ultra Industrials	0.62%	0.90%	0.18%	0.21%	0.24%	0.03%	0.29%	0.58%	0.37%	0.24%	0.38%	0.41%

Frequently Asked Questions

Can I hold both DUSL and UXI in my portfolio?

With a correlation of 0.99, DUSL and UXI move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, DUSL or UXI?

DUSL has higher volatility (17.61%) compared to UXI (11.54%). In terms of maximum drawdown, DUSL dropped -85.74% vs UXI's -89.01%.

Which ETF is better, DUSL or UXI?

On 5-year performance, DUSL leads with 23.43% vs 14.41% for UXI. On fees, UXI is cheaper at 0.95% per year. On volatility, UXI has been the lower-risk option at 11.54%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, DUSL or UXI?

Over the 5-year period, DUSL has performed better with a 23.43% return vs 14.41%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, DUSL or UXI?

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

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

DUSL has the higher dividend yield at 7.75%, compared with 0.62% for UXI.

What is the main difference between DUSL and UXI?

DUSL tracks Industrials Select Sector Index (300%), while UXI tracks Dow Jones U.S. Industrials Index (200%). They also come from different issuers: Direxion and ProShares. Their fees differ too: 1.01% for DUSL and 0.95% for UXI.

Which has better risk-adjusted returns?

DUSL currently has the higher Sharpe Ratio (1.69 vs 1.69), 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.