DXRLX vs. DXQLX

Last updated Jun 23, 2026

DXRLX (Direxion Monthly Small Cap Bull 1.75X Fund) and DXQLX (Direxion Monthly NASDAQ-100 Bull 1.75X Fund) are both Leveraged Equities funds from Direxion. Over the past 10 years, DXRLX returned 13.16%/yr vs 35.84%/yr for DXQLX. A 0.76 correlation means they provide meaningful diversification when combined. DXRLX charges 1.35%/yr vs 1.39%/yr for DXQLX.

Performance

DXRLX vs. DXQLX - 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 NASDAQ-100 Bull 1.75X Fund (DXQLX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with DXRLX having a 34.06% return and DXQLX slightly lower at 33.20%. Over the past 10 years, DXRLX has underperformed DXQLX with an annualized return of 13.16%, while DXQLX has yielded a comparatively higher 35.84% annualized return.

DXRLX

• 1D: 3.58%
• 1M: 6.53%
• YTD: 34.06%
• 6M: 27.13%
• 1Y: 74.45%
• 3Y*: 23.44%
• 5Y*: 4.11%
• 10Y*: 13.16%

DXQLX

• 1D: 4.37%
• 1M: 4.98%
• YTD: 33.20%
• 6M: 31.15%
• 1Y: 69.94%
• 3Y*: 41.20%
• 5Y*: 21.69%
• 10Y*: 35.84%

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

DXRLX vs. DXQLX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
DXRLX Direxion Monthly Small Cap Bull 1.75X Fund	34.06%	15.22%	10.66%	20.05%	-40.24%	26.84%	20.98%	46.08%	-27.45%	27.06%
DXQLX Direxion Monthly NASDAQ-100 Bull 1.75X Fund	33.20%	29.99%	39.26%	97.59%	-57.72%	55.98%	100.94%	79.36%	-81.54%	743.06%

Correlation

The correlation between DXRLX and DXQLX 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	0.73
Correlation (10Y) Calculated over the trailing 10-year period	0.69
Correlation (All Time) Calculated using the full available price history since May 1, 2006	0.76

The correlation between DXRLX and DXQLX has been stable across timeframes, ranging from 0.66 to 0.76 - a consistent structural relationship.

Return for Risk

DXRLX vs. DXQLX — Risk / Return Rank

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

DXRLX

DXRLX Risk / Return Rank: 64
DXRLX Sharpe Ratio Rank: 64
DXRLX Sortino Ratio Rank: 52
DXRLX Omega Ratio Rank: 44
DXRLX Calmar Ratio Rank: 85
DXRLX Martin Ratio Rank: 77

DXQLX

DXQLX Risk / Return Rank: 61
DXQLX Sharpe Ratio Rank: 69
DXQLX Sortino Ratio Rank: 49
DXQLX Omega Ratio Rank: 52
DXQLX Calmar Ratio Rank: 73
DXQLX Martin Ratio Rank: 60

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. DXQLX - 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 NASDAQ-100 Bull 1.75X Fund (DXQLX). 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	DXQLX	Difference
Sharpe ratio: Return per unit of total volatility	2.16	2.22	-0.07
Sortino ratio: Return per unit of downside risk	2.77	2.72	+0.05
Omega ratio: Gain probability vs. loss probability	1.33	1.36	-0.03
Calmar ratio: Return relative to maximum drawdown	3.83	3.15	+0.68
Martin ratio: Return relative to average drawdown	13.43	11.23	+2.20

DXRLX vs. DXQLX - Sharpe Ratio Comparison

The current DXRLX Sharpe Ratio is 2.16, which is comparable to the DXQLX Sharpe Ratio of 2.22. The chart below compares the historical Sharpe Ratios of DXRLX and DXQLX, 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. DXQLX - Drawdown Comparison

The maximum DXRLX drawdown since its inception was -94.32%, roughly equal to the maximum DXQLX drawdown of -96.04%. Use the drawdown chart below to compare losses from any high point for DXRLX and DXQLX.

Drawdown Indicators

	DXRLX	DXQLX	Difference
Max Drawdown Largest peak-to-trough decline	-94.32%	-96.04%	+1.72%
Max Drawdown (1Y) Largest decline over 1 year	-19.38%	-21.88%	+2.50%
Max Drawdown (3Y) Largest decline over 3 years	-45.58%	-37.99%	-7.59%
Max Drawdown (5Y) Largest decline over 5 years	-57.64%	-60.79%	+3.15%
Max Drawdown (10Y) Largest decline over 10 years	-77.63%	-87.23%	+9.60%
Current Drawdown Current decline from peak	0.00%	-1.59%	+1.59%
Average Drawdown Average peak-to-trough decline	-34.55%	-51.49%	+16.94%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.52%	6.13%	-0.61%

Volatility

DXRLX vs. DXQLX - Volatility Comparison

The current volatility for Direxion Monthly Small Cap Bull 1.75X Fund (DXRLX) is 11.90%, while Direxion Monthly NASDAQ-100 Bull 1.75X Fund (DXQLX) has a volatility of 15.11%. This indicates that DXRLX experiences smaller price fluctuations and is considered to be less risky than DXQLX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DXRLX	DXQLX	Difference
Volatility (1M) Calculated over the trailing 1-month period	11.90%	15.11%	-3.21%
Volatility (6M) Calculated over the trailing 6-month period	25.12%	25.22%	-0.10%
Volatility (1Y) Calculated over the trailing 1-year period	34.44%	31.07%	+3.37%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	41.76%	42.52%	-0.76%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	49.26%	138.77%	-89.51%

DXRLX vs. DXQLX - Expense Ratio Comparison

DXRLX has a 1.35% expense ratio, which is lower than DXQLX's 1.39% expense ratio.

Dividends

DXRLX vs. DXQLX - Dividend Comparison

DXRLX's dividend yield for the trailing twelve months is around 1.55%, less than DXQLX's 11.11% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
DXQLX Direxion Monthly NASDAQ-100 Bull 1.75X Fund	11.11%	14.50%	0.33%	0.00%	0.00%	11.75%	10.90%	3.37%	7.37%	5.72%
DXRLX Direxion Monthly Small Cap Bull 1.75X Fund	1.55%	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 DXQLX in my portfolio?

DXRLX and DXQLX 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, DXRLX or DXQLX?

DXQLX has higher volatility (15.11%) compared to DXRLX (11.90%). In terms of maximum drawdown, DXRLX dropped -94.32% vs DXQLX's -96.04%.

Which has better risk-adjusted returns?

DXQLX currently has the higher Sharpe Ratio (2.22 vs 2.16), 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.