DXNLX vs. UAPIX

Last updated Jun 24, 2026

DXNLX (Direxion Monthly NASDAQ-100 Bull 1.25X Fund) and UAPIX (ProFunds UltraSmall Cap Fund) are both Leveraged Equities funds. Over the past 5 years, DXNLX returned 17.55%/yr vs 3.21%/yr for UAPIX. A 0.68 correlation means they provide meaningful diversification when combined. DXNLX charges 1.19%/yr vs 1.60%/yr for UAPIX.

Performance

DXNLX vs. UAPIX - 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 ProFunds UltraSmall Cap Fund (UAPIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, DXNLX achieves a 23.70% return, which is significantly lower than UAPIX's 38.89% return.

DXNLX

• 1D: -0.29%
• 1M: 3.40%
• YTD: 23.70%
• 6M: 21.61%
• 1Y: 46.08%
• 3Y*: 30.69%
• 5Y*: 17.55%
• 10Y*: —

UAPIX

• 1D: 4.14%
• 1M: 7.27%
• YTD: 38.89%
• 6M: 30.58%
• 1Y: 84.98%
• 3Y*: 24.58%
• 5Y*: 3.21%
• 10Y*: 11.66%

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

DXNLX vs. UAPIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
DXNLX Direxion Monthly NASDAQ-100 Bull 1.25X Fund	23.70%	22.13%	28.56%	66.63%	-40.88%	32.49%	58.90%	46.34%	-3.37%	37.37%
UAPIX ProFunds UltraSmall Cap Fund	38.89%	12.77%	10.42%	22.26%	-43.78%	23.06%	13.86%	46.81%	-26.88%	24.36%

Correlation

The correlation between DXNLX and UAPIX is 0.69, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.69
Correlation (3Y) Calculated over the trailing 3-year period	0.66
Correlation (5Y) Calculated over the trailing 5-year period	0.72
Correlation (All Time) Calculated using the full available price history since Jan 3, 2017	0.68

The correlation between DXNLX and UAPIX has been stable across timeframes, ranging from 0.66 to 0.72 - a consistent structural relationship.

Return for Risk

DXNLX vs. UAPIX — Risk / Return Rank

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

DXNLX

DXNLX Risk / Return Rank: 59
DXNLX Sharpe Ratio Rank: 66
DXNLX Sortino Ratio Rank: 52
DXNLX Omega Ratio Rank: 54
DXNLX Calmar Ratio Rank: 68
DXNLX Martin Ratio Rank: 57

UAPIX

UAPIX Risk / Return Rank: 62
UAPIX Sharpe Ratio Rank: 64
UAPIX Sortino Ratio Rank: 49
UAPIX Omega Ratio Rank: 42
UAPIX Calmar Ratio Rank: 85
UAPIX Martin Ratio Rank: 72

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.

DXNLX vs. UAPIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Direxion Monthly NASDAQ-100 Bull 1.25X Fund (DXNLX) and ProFunds UltraSmall Cap Fund (UAPIX). 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.

	DXNLX	UAPIX	Difference
Sharpe ratio: Return per unit of total volatility	2.18	2.15	+0.03
Sortino ratio: Return per unit of downside risk	2.79	2.72	+0.07
Omega ratio: Gain probability vs. loss probability	1.37	1.32	+0.05
Calmar ratio: Return relative to maximum drawdown	3.03	3.80	-0.77
Martin ratio: Return relative to average drawdown	10.87	12.90	-2.03

DXNLX vs. UAPIX - Sharpe Ratio Comparison

The current DXNLX Sharpe Ratio is 2.18, which is comparable to the UAPIX Sharpe Ratio of 2.15. The chart below compares the historical Sharpe Ratios of DXNLX and UAPIX, 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

DXNLX vs. UAPIX - Drawdown Comparison

The maximum DXNLX drawdown since its inception was -43.77%, smaller than the maximum UAPIX drawdown of -88.51%. Use the drawdown chart below to compare losses from any high point for DXNLX and UAPIX.

Drawdown Indicators

	DXNLX	UAPIX	Difference
Max Drawdown Largest peak-to-trough decline	-43.77%	-88.51%	+44.74%
Max Drawdown (1Y) Largest decline over 1 year	-15.91%	-22.32%	+6.41%
Max Drawdown (3Y) Largest decline over 3 years	-28.35%	-49.86%	+21.51%
Max Drawdown (5Y) Largest decline over 5 years	-43.77%	-61.82%	+18.05%
Max Drawdown (10Y) Largest decline over 10 years	—	-72.18%	—
Current Drawdown Current decline from peak	-1.41%	-0.36%	-1.05%
Average Drawdown Average peak-to-trough decline	-8.67%	-35.99%	+27.32%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.42%	6.55%	-2.13%

Volatility

DXNLX vs. UAPIX - Volatility Comparison

The current volatility for Direxion Monthly NASDAQ-100 Bull 1.25X Fund (DXNLX) is 10.58%, while ProFunds UltraSmall Cap Fund (UAPIX) has a volatility of 13.52%. This indicates that DXNLX experiences smaller price fluctuations and is considered to be less risky than UAPIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DXNLX	UAPIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.58%	13.52%	-2.94%
Volatility (6M) Calculated over the trailing 6-month period	17.78%	28.65%	-10.87%
Volatility (1Y) Calculated over the trailing 1-year period	22.17%	39.37%	-17.20%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	28.56%	45.33%	-16.77%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	28.94%	46.62%	-17.68%

DXNLX vs. UAPIX - Expense Ratio Comparison

DXNLX has a 1.19% expense ratio, which is lower than UAPIX's 1.60% expense ratio.

Dividends

DXNLX vs. UAPIX - Dividend Comparison

DXNLX's dividend yield for the trailing twelve months is around 0.81%, more than UAPIX's 0.34% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
DXNLX Direxion Monthly NASDAQ-100 Bull 1.25X Fund	0.81%	2.31%	0.17%	0.00%	0.00%	7.43%	12.20%	0.00%	8.79%	7.52%
UAPIX ProFunds UltraSmall Cap Fund	0.34%	0.47%	1.06%	0.73%	0.00%	0.00%	0.00%	0.00%	0.13%	0.00%

Frequently Asked Questions

Can I hold both DXNLX and UAPIX in my portfolio?

DXNLX and UAPIX have a correlation of 0.69, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, DXNLX or UAPIX?

UAPIX has higher volatility (13.52%) compared to DXNLX (10.58%). In terms of maximum drawdown, DXNLX dropped -43.77% vs UAPIX's -88.51%.

Which has better risk-adjusted returns?

DXNLX currently has the higher Sharpe Ratio (2.18 vs 2.15), 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.