DXSLX vs. SMPIX

Last updated Jun 4, 2026

DXSLX (Direxion Monthly S&P 500 Bull 1.75X Fund) and SMPIX (ProFunds Semiconductor UltraSector Fund) are both Leveraged Equities funds. Over the past 10 years, DXSLX returned 27.39%/yr vs 48.03%/yr for SMPIX. A 0.76 correlation means they provide meaningful diversification when combined. DXSLX charges 1.35%/yr vs 1.49%/yr for SMPIX.

Performance

DXSLX vs. SMPIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Direxion Monthly S&P 500 Bull 1.75X Fund (DXSLX) and ProFunds Semiconductor UltraSector Fund (SMPIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, DXSLX achieves a 17.64% return, which is significantly lower than SMPIX's 82.09% return. Over the past 10 years, DXSLX has underperformed SMPIX with an annualized return of 27.39%, while SMPIX has yielded a comparatively higher 48.03% annualized return.

DXSLX

• 1D: 0.22%
• 1M: 9.76%
• YTD: 17.64%
• 6M: 17.31%
• 1Y: 46.29%
• 3Y*: 33.41%
• 5Y*: 17.87%
• 10Y*: 27.39%

SMPIX

• 1D: 3.58%
• 1M: 33.64%
• YTD: 82.09%
• 6M: 82.15%
• 1Y: 185.19%
• 3Y*: 89.91%
• 5Y*: 56.38%
• 10Y*: 48.03%

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

DXSLX vs. SMPIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
DXSLX Direxion Monthly S&P 500 Bull 1.75X Fund	17.64%	25.05%	37.66%	39.91%	-37.35%	59.07%	27.52%	61.52%	-14.82%	98.50%
SMPIX ProFunds Semiconductor UltraSector Fund	82.09%	56.35%	81.41%	155.37%	-54.31%	80.17%	60.77%	77.97%	-17.56%	42.78%

Correlation

The correlation between DXSLX and SMPIX 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	0.72
Correlation (5Y) Calculated over the trailing 5-year period	0.77
Correlation (10Y) Calculated over the trailing 10-year period	0.75
Correlation (All Time) Calculated using the full available price history since May 4, 2006	0.76

The correlation between DXSLX and SMPIX has been stable across timeframes, ranging from 0.71 to 0.77 - a consistent structural relationship.

Return for Risk

DXSLX vs. SMPIX — Risk / Return Rank

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

DXSLX

DXSLX Risk / Return Rank: 58
DXSLX Sharpe Ratio Rank: 62
DXSLX Sortino Ratio Rank: 50
DXSLX Omega Ratio Rank: 51
DXSLX Calmar Ratio Rank: 59
DXSLX Martin Ratio Rank: 69

SMPIX

SMPIX Risk / Return Rank: 92
SMPIX Sharpe Ratio Rank: 99
SMPIX Sortino Ratio Rank: 85
SMPIX Omega Ratio Rank: 81
SMPIX Calmar Ratio Rank: 98
SMPIX Martin Ratio Rank: 97

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.

DXSLX vs. SMPIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Direxion Monthly S&P 500 Bull 1.75X Fund (DXSLX) and ProFunds Semiconductor UltraSector Fund (SMPIX). 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.

	DXSLX	SMPIX	Difference
Sharpe ratio: Return per unit of total volatility	2.31	4.26	-1.95
Sortino ratio: Return per unit of downside risk	2.97	4.00	-1.03
Omega ratio: Gain probability vs. loss probability	1.40	1.54	-0.14
Calmar ratio: Return relative to maximum drawdown	2.94	8.74	-5.79
Martin ratio: Return relative to average drawdown	13.30	26.37	-13.07
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

DXSLX vs. SMPIX - Sharpe Ratio Comparison

The current DXSLX Sharpe Ratio is 2.31, which is lower than the SMPIX Sharpe Ratio of 4.26. The chart below compares the historical Sharpe Ratios of DXSLX and SMPIX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	DXSLX	SMPIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.31	4.26	-1.95
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.57	0.17	+0.40
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.71	0.20	+0.51
Sharpe Ratio (All Time) Calculated using the full available price history	0.48	0.09	+0.39

Drawdowns

DXSLX vs. SMPIX - Drawdown Comparison

The maximum DXSLX drawdown since its inception was -91.80%, roughly equal to the maximum SMPIX drawdown of -94.09%. Use the drawdown chart below to compare losses from any high point for DXSLX and SMPIX.

Drawdown Indicators

	DXSLX	SMPIX	Difference
Max Drawdown Largest peak-to-trough decline	-91.80%	-94.09%	+2.29%
Max Drawdown (1Y) Largest decline over 1 year	-16.30%	-22.72%	+6.42%
Max Drawdown (3Y) Largest decline over 3 years	-31.90%	-94.09%	+62.19%
Max Drawdown (5Y) Largest decline over 5 years	-44.67%	-94.09%	+49.42%
Max Drawdown (10Y) Largest decline over 10 years	-61.09%	-94.09%	+33.00%
Current Drawdown Current decline from peak	0.00%	-70.37%	+70.37%
Average Drawdown Average peak-to-trough decline	-21.55%	-57.55%	+36.00%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.60%	7.51%	-3.91%

Volatility

DXSLX vs. SMPIX - Volatility Comparison

The current volatility for Direxion Monthly S&P 500 Bull 1.75X Fund (DXSLX) is 4.83%, while ProFunds Semiconductor UltraSector Fund (SMPIX) has a volatility of 15.52%. This indicates that DXSLX experiences smaller price fluctuations and is considered to be less risky than SMPIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DXSLX	SMPIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.83%	15.52%	-10.69%
Volatility (6M) Calculated over the trailing 6-month period	15.76%	35.41%	-19.65%
Volatility (1Y) Calculated over the trailing 1-year period	20.80%	46.69%	-25.89%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	31.30%	332.56%	-301.26%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	38.60%	237.19%	-198.59%

DXSLX vs. SMPIX - Expense Ratio Comparison

DXSLX has a 1.35% expense ratio, which is lower than SMPIX's 1.49% expense ratio.

Dividends

DXSLX vs. SMPIX - Dividend Comparison

DXSLX's dividend yield for the trailing twelve months is around 6.48%, less than SMPIX's 7.15% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DXSLX Direxion Monthly S&P 500 Bull 1.75X Fund	6.48%	7.93%	10.57%	0.00%	0.00%	7.89%	2.42%	4.41%	7.21%	34.95%	0.00%	25.71%
SMPIX ProFunds Semiconductor UltraSector Fund	7.15%	13.02%	0.16%	0.00%	0.00%	6.57%	0.00%	2.26%	40.03%	0.11%	0.45%	0.68%

Frequently Asked Questions

Can I hold both DXSLX and SMPIX in my portfolio?

DXSLX and SMPIX 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, DXSLX or SMPIX?

SMPIX has higher volatility (15.52%) compared to DXSLX (4.83%). In terms of maximum drawdown, DXSLX dropped -91.80% vs SMPIX's -94.09%.

Which has better risk-adjusted returns?

SMPIX currently has the higher Sharpe Ratio (4.26 vs 2.31), 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.