HCPIX vs. DXSLX

Last updated Jun 4, 2026

HCPIX (ProFunds UltraSector Health Care Fund) and DXSLX (Direxion Monthly S&P 500 Bull 1.75X Fund) are both Leveraged Equities funds. Over the past 10 years, HCPIX returned 8.08%/yr vs 27.39%/yr for DXSLX. A 0.75 correlation means they provide meaningful diversification when combined. HCPIX charges 1.61%/yr vs 1.35%/yr for DXSLX.

Performance

HCPIX vs. DXSLX - Performance Comparison

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

Returns By Period

In the year-to-date period, HCPIX achieves a -9.32% return, which is significantly lower than DXSLX's 17.64% return. Over the past 10 years, HCPIX has underperformed DXSLX with an annualized return of 8.08%, while DXSLX has yielded a comparatively higher 27.39% annualized return.

HCPIX

• 1D: -1.49%
• 1M: 1.28%
• YTD: -9.32%
• 6M: -9.29%
• 1Y: 12.76%
• 3Y*: 3.17%
• 5Y*: 2.22%
• 10Y*: 8.08%

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%

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

HCPIX vs. DXSLX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
HCPIX ProFunds UltraSector Health Care Fund	-9.32%	16.02%	-1.37%	-1.30%	-10.60%	33.92%	16.86%	28.41%	4.96%	19.48%
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%

Correlation

The correlation between HCPIX and DXSLX is 0.36, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.36
Correlation (3Y) Calculated over the trailing 3-year period	0.47
Correlation (5Y) Calculated over the trailing 5-year period	0.60
Correlation (10Y) Calculated over the trailing 10-year period	0.67
Correlation (All Time) Calculated using the full available price history since May 4, 2006	0.75

Over the past year, the correlation between HCPIX and DXSLX has dropped to 0.36 - well below their long-term average of 0.75, suggesting their price drivers have been diverging.

Return for Risk

HCPIX vs. DXSLX — Risk / Return Rank

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

HCPIX

HCPIX Risk / Return Rank: 8
HCPIX Sharpe Ratio Rank: 7
HCPIX Sortino Ratio Rank: 8
HCPIX Omega Ratio Rank: 7
HCPIX Calmar Ratio Rank: 8
HCPIX Martin Ratio Rank: 7

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

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.

HCPIX vs. DXSLX - Risk-Adjusted Trends Comparison

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

	HCPIX	DXSLX	Difference
Sharpe ratio: Return per unit of total volatility	0.60	2.31	-1.71
Sortino ratio: Return per unit of downside risk	1.04	2.97	-1.93
Omega ratio: Gain probability vs. loss probability	1.12	1.40	-0.28
Calmar ratio: Return relative to maximum drawdown	0.82	2.94	-2.13
Martin ratio: Return relative to average drawdown	1.95	13.30	-11.35
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

HCPIX vs. DXSLX - Sharpe Ratio Comparison

The current HCPIX Sharpe Ratio is 0.60, which is lower than the DXSLX Sharpe Ratio of 2.31. The chart below compares the historical Sharpe Ratios of HCPIX and DXSLX, 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

	HCPIX	DXSLX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.60	2.31	-1.71
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.10	0.57	-0.47
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.32	0.71	-0.39
Sharpe Ratio (All Time) Calculated using the full available price history	0.26	0.48	-0.22

Drawdowns

HCPIX vs. DXSLX - Drawdown Comparison

The maximum HCPIX drawdown since its inception was -64.90%, smaller than the maximum DXSLX drawdown of -91.80%. Use the drawdown chart below to compare losses from any high point for HCPIX and DXSLX.

Drawdown Indicators

	HCPIX	DXSLX	Difference
Max Drawdown Largest peak-to-trough decline	-64.90%	-91.80%	+26.90%
Max Drawdown (1Y) Largest decline over 1 year	-16.12%	-16.30%	+0.18%
Max Drawdown (3Y) Largest decline over 3 years	-27.68%	-31.90%	+4.22%
Max Drawdown (5Y) Largest decline over 5 years	-27.68%	-44.67%	+16.99%
Max Drawdown (10Y) Largest decline over 10 years	-40.66%	-61.09%	+20.43%
Current Drawdown Current decline from peak	-14.39%	0.00%	-14.39%
Average Drawdown Average peak-to-trough decline	-21.01%	-21.55%	+0.54%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.72%	3.60%	+3.12%

Volatility

HCPIX vs. DXSLX - Volatility Comparison

ProFunds UltraSector Health Care Fund (HCPIX) has a higher volatility of 6.11% compared to Direxion Monthly S&P 500 Bull 1.75X Fund (DXSLX) at 4.83%. This indicates that HCPIX's price experiences larger fluctuations and is considered to be riskier than DXSLX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HCPIX	DXSLX	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.11%	4.83%	+1.28%
Volatility (6M) Calculated over the trailing 6-month period	15.37%	15.76%	-0.39%
Volatility (1Y) Calculated over the trailing 1-year period	21.92%	20.80%	+1.12%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.25%	31.30%	-9.05%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	25.00%	38.60%	-13.60%

HCPIX vs. DXSLX - Expense Ratio Comparison

HCPIX has a 1.61% expense ratio, which is higher than DXSLX's 1.35% expense ratio.

Dividends

HCPIX vs. DXSLX - Dividend Comparison

HCPIX's dividend yield for the trailing twelve months is around 0.19%, less than DXSLX's 6.48% 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%
HCPIX ProFunds UltraSector Health Care Fund	0.19%	0.17%	0.82%	0.26%	0.00%	0.00%	0.00%	0.05%	0.03%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both HCPIX and DXSLX in my portfolio?

HCPIX and DXSLX have a correlation of 0.36, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, HCPIX or DXSLX?

HCPIX has higher volatility (6.11%) compared to DXSLX (4.83%). In terms of maximum drawdown, HCPIX dropped -64.90% vs DXSLX's -91.80%.

Which has better risk-adjusted returns?

DXSLX currently has the higher Sharpe Ratio (2.31 vs 0.60), 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.