DXRLX vs. UAPIX

Last updated Jun 25, 2026

DXRLX (Direxion Monthly Small Cap Bull 1.75X Fund) and UAPIX (ProFunds UltraSmall Cap Fund) are both Leveraged Equities funds. Over the past 10 years, DXRLX returned 13.73%/yr vs 12.24%/yr for UAPIX. With a 0.98 correlation, they move nearly in lockstep. DXRLX charges 1.35%/yr vs 1.60%/yr for UAPIX.

Performance

DXRLX vs. UAPIX - 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 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, DXRLX achieves a 33.73% return, which is significantly lower than UAPIX's 38.41% return. Over the past 10 years, DXRLX has outperformed UAPIX with an annualized return of 13.73%, while UAPIX has yielded a comparatively lower 12.24% annualized return.

DXRLX

• 1D: -1.66%
• 1M: 6.28%
• YTD: 33.73%
• 6M: 27.73%
• 1Y: 66.95%
• 3Y*: 25.41%
• 5Y*: 2.34%
• 10Y*: 13.73%

UAPIX

• 1D: -1.93%
• 1M: 6.90%
• YTD: 38.41%
• 6M: 31.22%
• 1Y: 75.71%
• 3Y*: 26.94%
• 5Y*: 1.43%
• 10Y*: 12.24%

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

DXRLX vs. UAPIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
DXRLX Direxion Monthly Small Cap Bull 1.75X Fund	33.73%	15.22%	10.66%	20.05%	-40.24%	26.84%	20.98%	46.08%	-27.45%	27.06%
UAPIX ProFunds UltraSmall Cap Fund	38.41%	12.77%	10.42%	22.26%	-43.78%	23.06%	13.86%	46.81%	-26.88%	24.36%

Correlation

The correlation between DXRLX and UAPIX is 1.00 - 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	1.00
Correlation (3Y) Calculated over the trailing 3-year period	0.99
Correlation (5Y) Calculated over the trailing 5-year period	0.99
Correlation (10Y) Calculated over the trailing 10-year period	0.99
Correlation (All Time) Calculated using the full available price history since Feb 7, 2000	0.98

The correlation between DXRLX and UAPIX has been stable across timeframes, ranging from 0.98 to 1.00 - a consistent structural relationship.

Return for Risk

DXRLX vs. UAPIX — Risk / Return Rank

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

DXRLX

DXRLX Risk / Return Rank: 65
DXRLX Sharpe Ratio Rank: 64
DXRLX Sortino Ratio Rank: 54
DXRLX Omega Ratio Rank: 46
DXRLX Calmar Ratio Rank: 85
DXRLX Martin Ratio Rank: 77

UAPIX

UAPIX Risk / Return Rank: 65
UAPIX Sharpe Ratio Rank: 66
UAPIX Sortino Ratio Rank: 54
UAPIX Omega Ratio Rank: 44
UAPIX Calmar Ratio Rank: 85
UAPIX Martin Ratio Rank: 74

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. UAPIX - 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 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.

	DXRLX	UAPIX	Difference
Sharpe ratio: Return per unit of total volatility	2.06	2.05	+0.01
Sortino ratio: Return per unit of downside risk	2.68	2.63	+0.06
Omega ratio: Gain probability vs. loss probability	1.32	1.31	+0.01
Calmar ratio: Return relative to maximum drawdown	3.67	3.62	+0.05
Martin ratio: Return relative to average drawdown	12.85	12.30	+0.55

DXRLX vs. UAPIX - Sharpe Ratio Comparison

The current DXRLX Sharpe Ratio is 2.06, which is comparable to the UAPIX Sharpe Ratio of 2.05. The chart below compares the historical Sharpe Ratios of DXRLX 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

DXRLX vs. UAPIX - Drawdown Comparison

The maximum DXRLX drawdown since its inception was -94.32%, which is greater than UAPIX's maximum drawdown of -88.51%. Use the drawdown chart below to compare losses from any high point for DXRLX and UAPIX.

Drawdown Indicators

	DXRLX	UAPIX	Difference
Max Drawdown Largest peak-to-trough decline	-94.32%	-88.51%	-5.81%
Max Drawdown (1Y) Largest decline over 1 year	-19.38%	-22.32%	+2.94%
Max Drawdown (3Y) Largest decline over 3 years	-45.58%	-49.86%	+4.28%
Max Drawdown (5Y) Largest decline over 5 years	-57.64%	-61.82%	+4.18%
Max Drawdown (10Y) Largest decline over 10 years	-77.63%	-72.18%	-5.45%
Current Drawdown Current decline from peak	-1.66%	-1.93%	+0.27%
Average Drawdown Average peak-to-trough decline	-34.54%	-35.98%	+1.44%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.52%	6.55%	-1.03%

Volatility

DXRLX vs. UAPIX - Volatility Comparison

The current volatility for Direxion Monthly Small Cap Bull 1.75X Fund (DXRLX) is 11.42%, while ProFunds UltraSmall Cap Fund (UAPIX) has a volatility of 12.99%. This indicates that DXRLX 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

	DXRLX	UAPIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	11.42%	12.99%	-1.57%
Volatility (6M) Calculated over the trailing 6-month period	25.12%	28.65%	-3.53%
Volatility (1Y) Calculated over the trailing 1-year period	34.50%	39.44%	-4.94%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	41.74%	45.32%	-3.58%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	49.22%	46.56%	+2.66%

DXRLX vs. UAPIX - Expense Ratio Comparison

DXRLX has a 1.35% expense ratio, which is lower than UAPIX's 1.60% expense ratio.

Dividends

DXRLX vs. UAPIX - Dividend Comparison

DXRLX's dividend yield for the trailing twelve months is around 1.56%, more than UAPIX's 0.34% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
DXRLX Direxion Monthly Small Cap Bull 1.75X Fund	1.56%	1.23%	0.66%	0.00%	2.27%	0.84%	0.71%	3.76%	7.60%
UAPIX ProFunds UltraSmall Cap Fund	0.34%	0.47%	1.06%	0.73%	0.00%	0.00%	0.00%	0.00%	0.13%

Frequently Asked Questions

Can I hold both DXRLX and UAPIX in my portfolio?

With a correlation of 1.00, DXRLX and UAPIX 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, DXRLX or UAPIX?

UAPIX has higher volatility (12.99%) compared to DXRLX (11.42%). In terms of maximum drawdown, DXRLX dropped -94.32% vs UAPIX's -88.51%.

Which has better risk-adjusted returns?

DXRLX currently has the higher Sharpe Ratio (2.06 vs 2.05), 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.