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DXNLX vs. SSO
Performance
Risk-Adjusted Performance
Dividends
Drawdowns
Volatility

DXNLX vs. SSO

Last updated May 11, 2025

Compare and contrast key facts about Direxion Monthly NASDAQ-100 Bull 1.25X Fund (DXNLX) and ProShares Ultra S&P 500 (SSO).

DXNLX is managed by Direxion. It was launched on Mar 31, 2016. SSO is a passively managed fund by ProShares that tracks the performance of the S&P 500 Index (200%). It was launched on Jun 21, 2006.

Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: DXNLX or SSO.

Correlation

The correlation between DXNLX and SSO is 0.89, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Performance

DXNLX vs. SSO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Direxion Monthly NASDAQ-100 Bull 1.25X Fund (DXNLX) and ProShares Ultra S&P 500 (SSO). The values are adjusted to include any dividend payments, if applicable.

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Key characteristics

Sharpe Ratio

DXNLX:

0.33

SSO:

0.24

Sortino Ratio

DXNLX:

0.69

SSO:

0.64

Omega Ratio

DXNLX:

1.10

SSO:

1.09

Calmar Ratio

DXNLX:

0.37

SSO:

0.29

Martin Ratio

DXNLX:

1.19

SSO:

1.03

Ulcer Index

DXNLX:

8.88%

SSO:

9.99%

Daily Std Dev

DXNLX:

31.86%

SSO:

38.38%

Max Drawdown

DXNLX:

-47.71%

SSO:

-84.67%

Current Drawdown

DXNLX:

-12.46%

SSO:

-17.93%

Returns By Period

In the year-to-date period, DXNLX achieves a -6.72% return, which is significantly higher than SSO's -11.10% return.

DXNLX

YTD

-6.72%

1M

11.67%

6M

-7.63%

1Y

10.08%

5Y*

14.88%

10Y*

N/A

SSO

YTD

-11.10%

1M

14.71%

6M

-15.07%

1Y

8.77%

5Y*

24.43%

10Y*

17.91%

*Annualized

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DXNLX vs. SSO - Expense Ratio Comparison

DXNLX has a 1.19% expense ratio, which is higher than SSO's 0.90% expense ratio.

DXNLX
Direxion Monthly NASDAQ-100 Bull 1.25X Fund
SSO
ProShares Ultra S&P 500

Risk-Adjusted Performance

DXNLX vs. SSO — Risk-Adjusted Performance Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
DXNLX
The Risk-Adjusted Performance Rank of DXNLX is 4949
Overall Rank
The Sharpe Ratio Rank of DXNLX is 4545
Sharpe Ratio Rank
The Sortino Ratio Rank of DXNLX is 5151
Sortino Ratio Rank
The Omega Ratio Rank of DXNLX is 5050
Omega Ratio Rank
The Calmar Ratio Rank of DXNLX is 5555
Calmar Ratio Rank
The Martin Ratio Rank of DXNLX is 4646
Martin Ratio Rank
SSO
The Risk-Adjusted Performance Rank of SSO is 4343
Overall Rank
The Sharpe Ratio Rank of SSO is 3535
Sharpe Ratio Rank
The Sortino Ratio Rank of SSO is 4646
Sortino Ratio Rank
The Omega Ratio Rank of SSO is 4848
Omega Ratio Rank
The Calmar Ratio Rank of SSO is 4545
Calmar Ratio Rank
The Martin Ratio Rank of SSO is 4343
Martin Ratio Rank
The risk-adjusted ranks indicate the investment's position relative to the market. A rank closer to 100 signifies top-performing investments, while a rank closer to 0 might suggest underperformance, based on the selected ratio. The values are calculated based on the past 12 months of returns.

DXNLX vs. SSO - Risk-Adjusted Performance Comparison

This table presents a comparison of risk-adjusted performance metrics for Direxion Monthly NASDAQ-100 Bull 1.25X Fund (DXNLX) and ProShares Ultra S&P 500 (SSO). 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.

The current DXNLX Sharpe Ratio is 0.33, which is higher than the SSO Sharpe Ratio of 0.24. The chart below compares the historical Sharpe Ratios of DXNLX and SSO, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

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Dividends

DXNLX vs. SSO - Dividend Comparison

DXNLX's dividend yield for the trailing twelve months is around 3.03%, more than SSO's 0.95% yield.

TTM20242023202220212020201920182017201620152014
DXNLX
Direxion Monthly NASDAQ-100 Bull 1.25X Fund		3.03%0.17%0.00%0.00%0.00%4.35%63.94%0.42%0.00%0.00%0.00%0.00%
SSO
ProShares Ultra S&P 500		0.95%0.85%0.18%0.50%0.18%0.20%0.50%0.75%0.39%0.51%0.63%0.32%

Drawdowns

DXNLX vs. SSO - Drawdown Comparison

The maximum DXNLX drawdown since its inception was -47.71%, smaller than the maximum SSO drawdown of -84.67%. Use the drawdown chart below to compare losses from any high point for DXNLX and SSO. For additional features, visit the drawdowns tool.

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Volatility

DXNLX vs. SSO - Volatility Comparison

The current volatility for Direxion Monthly NASDAQ-100 Bull 1.25X Fund (DXNLX) is 10.36%, while ProShares Ultra S&P 500 (SSO) has a volatility of 13.79%. This indicates that DXNLX experiences smaller price fluctuations and is considered to be less risky than SSO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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