MIDU vs. UMDD

Last updated Aug 4, 2026

MIDU (Direxion Daily Mid Cap Bull 3X Shares) and UMDD (ProShares UltraPro MidCap400) are both Leveraged Equities funds tracking the S&P MidCap 400 Index (300%), from Direxion and ProShares respectively. Both are passively managed. Over the past 10 years, MIDU returned 10.97%/yr vs 10.96%/yr for UMDD. Their 0.99 correlation means they have historically moved very closely together. MIDU charges 1.06%/yr vs 0.95%/yr for UMDD.

Performance

MIDU vs. UMDD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Direxion Daily Mid Cap Bull 3X Shares (MIDU) and ProShares UltraPro MidCap400 (UMDD). 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 MIDU having a 40.40% return and UMDD slightly lower at 39.73%. Both investments have delivered pretty close results over the past 10 years, with MIDU having a 10.97% annualized return and UMDD not far behind at 10.96%.

MIDU

• 1D: 3.38%
• 1M: -0.99%
• 6M: 23.24%
• YTD: 40.40%
• 1Y: 60.73%
• 3Y*: 19.76%
• 5Y*: 4.39%
• 10Y*: 10.97%
• ALL TIME*: 22.01%

UMDD

• 1D: 3.16%
• 1M: -0.95%
• 6M: 22.93%
• YTD: 39.73%
• 1Y: 60.12%
• 3Y*: 19.36%
• 5Y*: 3.98%
• 10Y*: 10.96%
• ALL TIME*: 19.42%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
MIDU Direxion Daily Mid Cap Bull 3X Shares	$1.17M	$1.08M	$1.53M
UMDD ProShares UltraPro MidCap400	$270.14K	$258.68K	$250.88K

MIDU vs. UMDD - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
MIDU Direxion Daily Mid Cap Bull 3X Shares	40.40%	-2.75%	20.32%	27.79%	-49.27%	72.89%	-18.31%	77.38%	-39.21%	46.86%
UMDD ProShares UltraPro MidCap400	39.73%	-2.57%	19.68%	27.21%	-49.60%	72.27%	-17.30%	78.90%	-40.29%	49.17%

Correlation

The correlation between MIDU and UMDD is 1.00 - they have historically moved very closely together. At this level, their price movements offset little of one another.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	1.00
Correlation (3Y) Balances recent behavior with more history.	1.00
Correlation (5Y) Shows whether the relationship held over a longer period.	1.00
Correlation (10Y) Provides a long-term view across more market conditions.	0.99
Correlation (All Time) Calculated using the full available price history since Feb 11, 2010	0.99

The correlation between MIDU and UMDD has been stable across timeframes, ranging from 0.99 to 1.00 - a consistent structural relationship.

MIDU vs. UMDD - Sectors Allocation Comparison

Sectors	MIDU	UMDD
Industrials	5.0%	25.3%
Technology	3.6%	17.2%
Financial Services	3.3%	13.9%
Consumer Cyclical	2.4%	10.5%
Healthcare	2.4%	9.0%
Real Estate	1.8%	7.2%
Basic Materials	1.6%	4.8%
Energy	1.2%	4.6%
Consumer Defensive	0.8%	3.2%
Utilities	0.7%	2.9%
Communication Services	0.4%	1.5%

Return for Risk

MIDU vs. UMDD — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

MIDU

MIDU Risk / Return Rank: 56
MIDU Sharpe Ratio Rank: 51
MIDU Sortino Ratio Rank: 53
MIDU Omega Ratio Rank: 48
MIDU Calmar Ratio Rank: 65
MIDU Martin Ratio Rank: 62

UMDD

UMDD Risk / Return Rank: 55
UMDD Sharpe Ratio Rank: 50
UMDD Sortino Ratio Rank: 52
UMDD Omega Ratio Rank: 49
UMDD Calmar Ratio Rank: 63
UMDD Martin Ratio Rank: 62

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

MIDU vs. UMDD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Direxion Daily Mid Cap Bull 3X Shares (MIDU) and ProShares UltraPro MidCap400 (UMDD). 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.

	MIDU	UMDD	Difference
Sharpe ratio: Return per unit of total volatility	1.31	1.28	+0.02
Sortino ratio: Return per unit of downside risk	1.93	1.91	+0.02
Omega ratio: Gain probability vs. loss probability	1.23	1.23	0.00
Calmar ratio: Return relative to maximum drawdown	2.37	2.32	+0.05
Martin ratio: Return relative to average drawdown	7.78	7.72	+0.06

MIDU vs. UMDD - Sharpe Ratio Comparison

The current MIDU Sharpe Ratio is 1.31, which is comparable to the UMDD Sharpe Ratio of 1.28. The chart below compares the historical Sharpe Ratios of MIDU and UMDD, 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

MIDU vs. UMDD - Drawdown Comparison

The maximum MIDU drawdown since its inception was -86.26%, roughly equal to the maximum UMDD drawdown of -86.24%. Use the drawdown chart below to compare losses from any high point for MIDU and UMDD.

Drawdown Indicators

	MIDU	UMDD	Difference
Max Drawdown Largest peak-to-trough decline	-86.26%	-86.24%	-0.02%
Max Drawdown (1Y) Largest decline over 1 year	-25.80%	-26.04%	+0.24%
Max Drawdown (3Y) Largest decline over 3 years	-60.41%	-60.33%	-0.08%
Max Drawdown (5Y) Largest decline over 5 years	-64.14%	-64.61%	+0.47%
Max Drawdown (10Y) Largest decline over 10 years	-86.26%	-86.24%	-0.02%
Current Drawdown Current decline from peak	-5.10%	-5.06%	-0.04%
Average Drawdown Average peak-to-trough decline	-22.27%	-23.43%	+1.16%
Ulcer Index Depth and duration of drawdowns from previous peaks	7.83%	7.81%	+0.02%

Volatility

MIDU vs. UMDD - Volatility Comparison

Direxion Daily Mid Cap Bull 3X Shares (MIDU) and ProShares UltraPro MidCap400 (UMDD) have volatilities of 10.70% and 11.11%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MIDU	UMDD	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.70%	11.11%	-0.41%
Volatility (6M) Calculated over the trailing 6-month period	34.53%	35.07%	-0.54%
Volatility (1Y) Calculated over the trailing 1-year period	46.82%	47.12%	-0.30%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	59.25%	58.72%	+0.53%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	63.48%	62.12%	+1.36%

MIDU vs. UMDD - Expense Ratio Comparison

MIDU has a 1.06% expense ratio, which is higher than UMDD's 0.95% expense ratio.

Dividends

MIDU vs. UMDD - Dividend Comparison

MIDU's dividend yield for the trailing twelve months is around 0.50%, less than UMDD's 0.67% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
MIDU Direxion Daily Mid Cap Bull 3X Shares	0.50%	1.04%	1.10%	1.43%	0.11%	0.00%	0.06%	0.71%	0.70%	2.67%	1.89%	0.00%
UMDD ProShares UltraPro MidCap400	0.67%	1.00%	0.76%	0.19%	0.49%	0.06%	0.08%	0.64%	0.32%	0.00%	0.03%	0.06%

Frequently Asked Questions

Can I hold both MIDU and UMDD in my portfolio?

With a correlation of 1.00, MIDU and UMDD 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, MIDU or UMDD?

UMDD has higher volatility (11.11%) compared to MIDU (10.70%). In terms of maximum drawdown, MIDU dropped -86.26% vs UMDD's -86.24%.

Which ETF is better, MIDU or UMDD?

On 10-year performance, MIDU leads with 10.97% vs 10.96% for UMDD. On fees, UMDD is cheaper at 0.95% per year. On volatility, MIDU has been the lower-risk option at 10.70%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, MIDU or UMDD?

Over the 10-year period, MIDU has performed better with a 10.97% return vs 10.96%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, MIDU or UMDD?

UMDD is cheaper with a 0.95% expense ratio, compared with 1.06% for MIDU.

Which ETF pays a higher dividend yield, MIDU or UMDD?

UMDD has the higher dividend yield at 0.67%, compared with 0.50% for MIDU.

What is the main difference between MIDU and UMDD?

Both ETFs track S&P MidCap 400 Index (300%). They also come from different issuers: Direxion and ProShares. Their fees differ too: 1.06% for MIDU and 0.95% for UMDD.

Which has better risk-adjusted returns?

MIDU currently has the higher Sharpe Ratio (1.31 vs 1.28), 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.