SOPIX vs. DXNLX

Last updated Aug 1, 2026

SOPIX (ProFunds Short NASDAQ-100 Fund) and DXNLX (Direxion Monthly NASDAQ-100 Bull 1.25X Fund) are both mutual funds - SOPIX is a Inverse Equities fund managed by ProFunds, while DXNLX is a Leveraged Equities fund managed by Direxion. Over the past 5 years, SOPIX returned -14.03%/yr vs 13.95%/yr for DXNLX. Their -0.98 correlation means they have often moved in opposite directions in the past. SOPIX charges 1.78%/yr vs 1.19%/yr for DXNLX.

Performance

SOPIX vs. DXNLX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProFunds Short NASDAQ-100 Fund (SOPIX) and Direxion Monthly NASDAQ-100 Bull 1.25X Fund (DXNLX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SOPIX achieves a -9.87% return, which is significantly lower than DXNLX's 12.06% return.

SOPIX

• 1D: -3.36%
• 1M: 4.31%
• 6M: -9.07%
• YTD: -9.87%
• 1Y: -17.52%
• 3Y*: -17.93%
• 5Y*: -14.03%
• 10Y*: -19.61%
• ALL TIME*: -17.47%

DXNLX

• 1D: 0.00%
• 1M: -5.32%
• 6M: 10.68%
• YTD: 12.06%
• 1Y: 26.25%
• 3Y*: 23.67%
• 5Y*: 13.95%
• 10Y*: —
• ALL TIME*: 22.71%

*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)
DXNLX Direxion Monthly NASDAQ-100 Bull 1.25X Fund	$0.00	$0.00	$0.00
SOPIX ProFunds Short NASDAQ-100 Fund	$0.00	$0.00	$0.00

SOPIX vs. DXNLX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SOPIX ProFunds Short NASDAQ-100 Fund	-9.87%	-15.80%	-23.82%	-31.85%	34.73%	-25.69%	-42.92%	-28.29%	-3.07%	-25.24%
DXNLX Direxion Monthly NASDAQ-100 Bull 1.25X Fund	12.06%	22.13%	28.56%	66.63%	-40.88%	32.49%	58.90%	46.34%	-3.37%	37.37%

Correlation

The correlation between SOPIX and DXNLX is -0.99, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	-0.99
Correlation (3Y) Balances recent behavior with more history.	-0.97
Correlation (5Y) Shows whether the relationship held over a longer period.	-0.98
Correlation (All Time) Calculated using the full available price history since Jan 3, 2017	-0.98

The correlation between SOPIX and DXNLX has been stable across timeframes, ranging from -0.99 to -0.97 - a consistent structural relationship.

Return for Risk

SOPIX vs. DXNLX — Risk / Return Rank

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

SOPIX

SOPIX Risk / Return Rank: 1
SOPIX Sharpe Ratio Rank: 1
SOPIX Sortino Ratio Rank: 0
SOPIX Omega Ratio Rank: 1
SOPIX Calmar Ratio Rank: 1
SOPIX Martin Ratio Rank: 0

DXNLX

DXNLX Risk / Return Rank: 30
DXNLX Sharpe Ratio Rank: 29
DXNLX Sortino Ratio Rank: 28
DXNLX Omega Ratio Rank: 29
DXNLX Calmar Ratio Rank: 33
DXNLX Martin Ratio Rank: 31

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.

SOPIX vs. DXNLX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProFunds Short NASDAQ-100 Fund (SOPIX) and Direxion Monthly NASDAQ-100 Bull 1.25X Fund (DXNLX). 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.

	SOPIX	DXNLX	Difference
Sharpe ratio: Return per unit of total volatility	-0.80	0.94	-1.75
Sortino ratio: Return per unit of downside risk	-1.09	1.38	-2.47
Omega ratio: Gain probability vs. loss probability	0.88	1.17	-0.29
Calmar ratio: Return relative to maximum drawdown	-0.62	1.41	-2.03
Martin ratio: Return relative to average drawdown	-1.21	4.48	-5.68

SOPIX vs. DXNLX - Sharpe Ratio Comparison

The current SOPIX Sharpe Ratio is -0.80, which is lower than the DXNLX Sharpe Ratio of 0.94. The chart below compares the historical Sharpe Ratios of SOPIX and DXNLX, 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

SOPIX vs. DXNLX - Drawdown Comparison

The maximum SOPIX drawdown since its inception was -99.07%, which is greater than DXNLX's maximum drawdown of -43.77%. Use the drawdown chart below to compare losses from any high point for SOPIX and DXNLX.

Drawdown Indicators

	SOPIX	DXNLX	Difference
Max Drawdown Largest peak-to-trough decline	-99.07%	-43.77%	-55.30%
Max Drawdown (1Y) Largest decline over 1 year	-24.87%	-15.91%	-8.96%
Max Drawdown (3Y) Largest decline over 3 years	-54.87%	-28.35%	-26.52%
Max Drawdown (5Y) Largest decline over 5 years	-65.00%	-43.77%	-21.23%
Max Drawdown (10Y) Largest decline over 10 years	-89.76%	—	—
Current Drawdown Current decline from peak	-98.99%	-10.69%	-88.30%
Average Drawdown Average peak-to-trough decline	-76.28%	-8.65%	-67.63%
Ulcer Index Depth and duration of drawdowns from previous peaks	12.79%	4.99%	+7.80%

Volatility

SOPIX vs. DXNLX - Volatility Comparison

ProFunds Short NASDAQ-100 Fund (SOPIX) and Direxion Monthly NASDAQ-100 Bull 1.25X Fund (DXNLX) have volatilities of 6.90% and 6.96%, 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

	SOPIX	DXNLX	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.90%	6.96%	-0.06%
Volatility (6M) Calculated over the trailing 6-month period	15.93%	19.44%	-3.51%
Volatility (1Y) Calculated over the trailing 1-year period	19.30%	23.72%	-4.42%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	23.86%	28.79%	-4.93%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.69%	28.93%	-6.24%

SOPIX vs. DXNLX - Expense Ratio Comparison

SOPIX has a 1.78% expense ratio, which is higher than DXNLX's 1.19% expense ratio.

Dividends

SOPIX vs. DXNLX - Dividend Comparison

SOPIX's dividend yield for the trailing twelve months is around 2.38%, more than DXNLX's 0.89% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
DXNLX Direxion Monthly NASDAQ-100 Bull 1.25X Fund	0.89%	2.31%	0.17%	0.00%	0.00%	7.43%	12.20%	0.00%	8.79%	7.52%
SOPIX ProFunds Short NASDAQ-100 Fund	2.38%	2.14%	0.00%	6.71%	0.00%	0.00%	0.00%	0.29%	0.00%	0.00%

Frequently Asked Questions

Can I hold both SOPIX and DXNLX in my portfolio?

SOPIX and DXNLX have a correlation of -0.99, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SOPIX or DXNLX?

DXNLX has higher volatility (6.96%) compared to SOPIX (6.90%). In terms of maximum drawdown, SOPIX dropped -99.07% vs DXNLX's -43.77%.

Which has better risk-adjusted returns?

DXNLX currently has the higher Sharpe Ratio (0.94 vs -0.80), 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.