DXRLX vs. DXHYX

Last updated Jun 24, 2026

DXRLX (Direxion Monthly Small Cap Bull 1.75X Fund) and DXHYX (Direxion Monthly High Yield Bull 1.2X Fund) are both mutual funds - DXRLX is a Leveraged Equities fund managed by Direxion, while DXHYX is a Leveraged Bonds fund managed by Direxion. Over the past 5 years, DXRLX returned 3.21%/yr vs 1.83%/yr for DXHYX. A 0.68 correlation means they provide meaningful diversification when combined. Both charge a 1.35% expense ratio.

Performance

DXRLX vs. DXHYX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Direxion Monthly Small Cap Bull 1.75X Fund (DXRLX) and Direxion Monthly High Yield Bull 1.2X Fund (DXHYX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, DXRLX achieves a 35.99% return, which is significantly higher than DXHYX's 0.54% return.

DXRLX

• 1D: 1.44%
• 1M: 8.07%
• YTD: 35.99%
• 6M: 30.46%
• 1Y: 73.58%
• 3Y*: 26.11%
• 5Y*: 3.21%
• 10Y*: 13.93%

DXHYX

• 1D: -0.17%
• 1M: 0.45%
• YTD: 0.54%
• 6M: 0.65%
• 1Y: 4.58%
• 3Y*: 7.15%
• 5Y*: 1.83%
• 10Y*: —

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

DXRLX vs. DXHYX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
DXRLX Direxion Monthly Small Cap Bull 1.75X Fund	35.99%	15.22%	10.66%	20.05%	-40.24%	26.84%	20.98%	46.08%	-27.45%	27.06%
DXHYX Direxion Monthly High Yield Bull 1.2X Fund	0.54%	6.56%	6.47%	10.88%	-13.99%	3.00%	2.26%	12.61%	-3.82%	5.22%

Correlation

The correlation between DXRLX and DXHYX is 0.71, 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	0.71
Correlation (3Y) Calculated over the trailing 3-year period	0.69
Correlation (5Y) Calculated over the trailing 5-year period	0.71
Correlation (All Time) Calculated using the full available price history since Jan 3, 2017	0.68

The correlation between DXRLX and DXHYX has been stable across timeframes, ranging from 0.68 to 0.71 - a consistent structural relationship.

Return for Risk

DXRLX vs. DXHYX — Risk / Return Rank

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

DXRLX

DXRLX Risk / Return Rank: 68
DXRLX Sharpe Ratio Rank: 70
DXRLX Sortino Ratio Rank: 55
DXRLX Omega Ratio Rank: 46
DXRLX Calmar Ratio Rank: 87
DXRLX Martin Ratio Rank: 80

DXHYX

DXHYX Risk / Return Rank: 21
DXHYX Sharpe Ratio Rank: 17
DXHYX Sortino Ratio Rank: 18
DXHYX Omega Ratio Rank: 17
DXHYX Calmar Ratio Rank: 22
DXHYX Martin Ratio Rank: 31

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.

DXRLX vs. DXHYX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Direxion Monthly Small Cap Bull 1.75X Fund (DXRLX) and Direxion Monthly High Yield Bull 1.2X Fund (DXHYX). 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.

	DXRLX	DXHYX	Difference
Sharpe ratio: Return per unit of total volatility	2.25	1.09	+1.16
Sortino ratio: Return per unit of downside risk	2.85	1.63	+1.22
Omega ratio: Gain probability vs. loss probability	1.34	1.20	+0.14
Calmar ratio: Return relative to maximum drawdown	3.99	1.60	+2.39
Martin ratio: Return relative to average drawdown	14.00	6.56	+7.44

DXRLX vs. DXHYX - Sharpe Ratio Comparison

The current DXRLX Sharpe Ratio is 2.25, which is higher than the DXHYX Sharpe Ratio of 1.09. The chart below compares the historical Sharpe Ratios of DXRLX and DXHYX, 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

DXRLX vs. DXHYX - Drawdown Comparison

The maximum DXRLX drawdown since its inception was -94.32%, which is greater than DXHYX's maximum drawdown of -26.40%. Use the drawdown chart below to compare losses from any high point for DXRLX and DXHYX.

Drawdown Indicators

	DXRLX	DXHYX	Difference
Max Drawdown Largest peak-to-trough decline	-94.32%	-26.40%	-67.92%
Max Drawdown (1Y) Largest decline over 1 year	-19.38%	-3.03%	-16.35%
Max Drawdown (3Y) Largest decline over 3 years	-45.58%	-6.42%	-39.16%
Max Drawdown (5Y) Largest decline over 5 years	-57.64%	-18.67%	-38.97%
Max Drawdown (10Y) Largest decline over 10 years	-77.63%	—	—
Current Drawdown Current decline from peak	0.00%	-0.28%	+0.28%
Average Drawdown Average peak-to-trough decline	-34.54%	-3.68%	-30.86%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.52%	0.74%	+4.78%

Volatility

DXRLX vs. DXHYX - Volatility Comparison

Direxion Monthly Small Cap Bull 1.75X Fund (DXRLX) has a higher volatility of 11.27% compared to Direxion Monthly High Yield Bull 1.2X Fund (DXHYX) at 1.20%. This indicates that DXRLX's price experiences larger fluctuations and is considered to be riskier than DXHYX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DXRLX	DXHYX	Difference
Volatility (1M) Calculated over the trailing 1-month period	11.27%	1.20%	+10.07%
Volatility (6M) Calculated over the trailing 6-month period	25.06%	3.52%	+21.54%
Volatility (1Y) Calculated over the trailing 1-year period	34.52%	4.46%	+30.06%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	41.74%	8.48%	+33.26%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	49.27%	9.32%	+39.95%

DXRLX vs. DXHYX - Expense Ratio Comparison

Both DXRLX and DXHYX have an expense ratio of 1.35%.

Dividends

DXRLX vs. DXHYX - Dividend Comparison

DXRLX's dividend yield for the trailing twelve months is around 1.53%, less than DXHYX's 3.64% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
DXHYX Direxion Monthly High Yield Bull 1.2X Fund	3.64%	4.32%	4.75%	6.08%	12.11%	2.06%	6.32%	9.95%	4.99%	3.57%
DXRLX Direxion Monthly Small Cap Bull 1.75X Fund	1.53%	1.23%	0.66%	0.00%	2.27%	0.84%	0.71%	3.76%	7.60%	0.00%

Frequently Asked Questions

Can I hold both DXRLX and DXHYX in my portfolio?

DXRLX and DXHYX have a correlation of 0.71, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, DXRLX or DXHYX?

DXRLX has higher volatility (11.27%) compared to DXHYX (1.20%). In terms of maximum drawdown, DXRLX dropped -94.32% vs DXHYX's -26.40%.

Which has better risk-adjusted returns?

DXRLX currently has the higher Sharpe Ratio (2.25 vs 1.09), 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.