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MIDU vs. UMDD
Performance
Return for Risk
Drawdowns
Volatility
Dividends

MIDU vs. UMDD

Last updated Jun 24, 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 12.98%/yr vs 13.11%/yr for UMDD. With a 0.99 correlation, they move nearly in lockstep. 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.

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Returns By Period

The year-to-date returns for both investments are quite close, with MIDU having a 37.67% return and UMDD slightly higher at 38.16%. Both investments have delivered pretty close results over the past 10 years, with MIDU having a 12.98% annualized return and UMDD not far ahead at 13.11%.

MIDU

1D
-3.21%
1M
6.62%
YTD
37.67%
6M
30.01%
1Y
63.47%
3Y*
26.25%
5Y*
3.28%
10Y*
12.98%

UMDD

1D
-2.96%
1M
7.10%
YTD
38.16%
6M
30.23%
1Y
64.17%
3Y*
25.89%
5Y*
3.07%
10Y*
13.11%
*Multi-year figures are annualized to reflect compound growth (CAGR)

MIDU vs. UMDD - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
MIDU
Direxion Daily Mid Cap Bull 3X Shares		37.67%-2.75%20.32%27.79%-49.27%72.89%-18.31%77.38%-39.21%46.86%
UMDD
ProShares UltraPro MidCap400		38.16%-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 - 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

1.00

Correlation (5Y)
Calculated over the trailing 5-year period

1.00

Correlation (10Y)
Calculated over the trailing 10-year period

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

5.3%
24.8%

Technology

3.4%
17.9%

Financial Services

2.8%
13.6%

Consumer Cyclical

2.0%
10.5%

Healthcare

1.8%
9.1%

Real Estate

1.5%
7.3%

Energy

1.0%
4.9%

Basic Materials

1.0%
4.8%

Consumer Defensive

0.8%
3.3%

Utilities

0.6%
2.9%

Communication Services

0.2%
1.0%

Industrials

MIDU
5.3%
UMDD
24.8%

Technology

MIDU
3.4%
UMDD
17.9%

Financial Services

MIDU
2.8%
UMDD
13.6%

Consumer Cyclical

MIDU
2.0%
UMDD
10.5%

Healthcare

MIDU
1.8%
UMDD
9.1%

Real Estate

MIDU
1.5%
UMDD
7.3%

Energy

MIDU
1.0%
UMDD
4.9%

Basic Materials

MIDU
1.0%
UMDD
4.8%

Consumer Defensive

MIDU
0.8%
UMDD
3.3%

Utilities

MIDU
0.6%
UMDD
2.9%

Communication Services

MIDU
0.2%
UMDD
1.0%

Compare stocks, funds, or ETFs

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Direxion Daily Mid Cap Bull 3X Shares

ProShares UltraPro MidCap400

Often compared with MIDU:
MIDU vs. TNAMIDU vs. MVVMIDU vs. AMAGXMIDU vs. SPXLMIDU vs. UPROMIDU vs. TQQQMIDU vs. mdy
Often compared with UMDD:
UMDD vs. SMDDUMDD vs. MVVUMDD vs. SAAUMDD vs. TQQQUMDD vs. MDYUMDD vs. UPROUMDD vs. URTY

Return for Risk

MIDU vs. UMDD — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
MIDU
MIDU Risk / Return Rank: 4444
Overall Rank
MIDU Sharpe Ratio Rank: 4040
Sharpe Ratio Rank
MIDU Sortino Ratio Rank: 4141
Sortino Ratio Rank
MIDU Omega Ratio Rank: 3737
Omega Ratio Rank
MIDU Calmar Ratio Rank: 5353
Calmar Ratio Rank
MIDU Martin Ratio Rank: 5151
Martin Ratio Rank
UMDD
UMDD Risk / Return Rank: 4545
Overall Rank
UMDD Sharpe Ratio Rank: 4141
Sharpe Ratio Rank
UMDD Sortino Ratio Rank: 4141
Sortino Ratio Rank
UMDD Omega Ratio Rank: 3838
Omega Ratio Rank
UMDD Calmar Ratio Rank: 5454
Calmar Ratio Rank
UMDD Martin Ratio Rank: 5151
Martin Ratio Rank
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.

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.

MIDUUMDDDifference
Sharpe ratioReturn per unit of total volatility
1.35
1.36

-0.01

Sortino ratioReturn per unit of downside risk
1.96
1.98

-0.01

Omega ratioGain probability vs. loss probability

1.23

1.24

0.00

Calmar ratioReturn relative to maximum drawdown

2.47

2.48

0.00

Martin ratioReturn relative to average drawdown

8.20

8.28

-0.08

MIDU vs. UMDD - Sharpe Ratio Comparison

The current MIDU Sharpe Ratio is 1.35, which is comparable to the UMDD Sharpe Ratio of 1.36. 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.

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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.

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Drawdown Indicators

MIDUUMDDDifference

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

-4.17%

-5.38%

+1.21%

Average Drawdown

Average peak-to-trough decline

-22.38%

-23.55%

+1.17%

Ulcer Index

Depth and duration of drawdowns from previous peaks

7.77%

7.77%

0.00%

Volatility

MIDU vs. UMDD - Volatility Comparison

Direxion Daily Mid Cap Bull 3X Shares (MIDU) and ProShares UltraPro MidCap400 (UMDD) have volatilities of 13.97% and 13.54%, 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.

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Volatility by Period

MIDUUMDDDifference

Volatility (1M)

Calculated over the trailing 1-month period

13.97%

13.54%

+0.43%

Volatility (6M)

Calculated over the trailing 6-month period

34.92%

35.31%

-0.39%

Volatility (1Y)

Calculated over the trailing 1-year period

47.39%

47.51%

-0.12%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

59.50%

58.96%

+0.54%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

63.57%

62.23%

+1.34%

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 0.65%, less than UMDD's 0.76% yield.

PositionTTM20252024202320222021202020192018201720162015
MIDU
Direxion Daily Mid Cap Bull 3X Shares		0.65%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		0.76%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

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.

MIDU has higher volatility (13.97%) compared to UMDD (13.54%). In terms of maximum drawdown, MIDU dropped -86.26% vs UMDD's -86.24%.

On 10-year performance, UMDD leads with 13.11% vs 12.98% for MIDU. On fees, UMDD is cheaper at 0.95% per year. On volatility, UMDD has been the lower-risk option at 13.54%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, UMDD has performed better with a 13.11% return vs 12.98%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

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

UMDD has the higher dividend yield at 0.76%, compared with 0.65% for MIDU.

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.

UMDD currently has the higher Sharpe Ratio (1.36 vs 1.35), 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.

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