SOXL vs. UMDD

Last updated Jun 9, 2026

SOXL (Direxion Daily Semiconductor Bull 3X ETF) and UMDD (ProShares UltraPro MidCap400) are both Leveraged Equities funds - SOXL tracks the ICE Semiconductor Index while UMDD tracks the S&P MidCap 400 Index (300%). Both are passively managed. Over the past 10 years, SOXL returned 61.24%/yr vs 11.46%/yr for UMDD. A 0.71 correlation means they provide meaningful diversification when combined. SOXL charges 0.75%/yr vs 0.95%/yr for UMDD.

Performance

SOXL vs. UMDD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Direxion Daily Semiconductor Bull 3X ETF (SOXL) and ProShares UltraPro MidCap400 (UMDD). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SOXL achieves a 403.07% return, which is significantly higher than UMDD's 31.54% return. Over the past 10 years, SOXL has outperformed UMDD with an annualized return of 61.24%, while UMDD has yielded a comparatively lower 11.46% annualized return.

SOXL

• 1D: 15.83%
• 1M: 19.50%
• YTD: 403.07%
• 6M: 340.59%
• 1Y: 1,006.21%
• 3Y*: 112.77%
• 5Y*: 42.03%
• 10Y*: 61.24%

UMDD

• 1D: 0.43%
• 1M: -0.66%
• YTD: 31.54%
• 6M: 30.82%
• 1Y: 55.88%
• 3Y*: 22.44%
• 5Y*: 1.30%
• 10Y*: 11.46%

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

SOXL vs. UMDD - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SOXL Direxion Daily Semiconductor Bull 3X ETF	403.07%	54.91%	-12.31%	226.98%	-85.66%	118.84%	70.04%	231.83%	-39.07%	141.71%
UMDD ProShares UltraPro MidCap400	31.54%	-2.57%	19.68%	27.21%	-49.60%	72.27%	-17.30%	78.90%	-40.29%	49.17%

Correlation

The correlation between SOXL and UMDD is 0.62, 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	0.62
Correlation (3Y) Calculated over the trailing 3-year period	0.63
Correlation (5Y) Calculated over the trailing 5-year period	0.69
Correlation (10Y) Calculated over the trailing 10-year period	0.66
Correlation (All Time) Calculated using the full available price history since Mar 11, 2010	0.71

The correlation between SOXL and UMDD has been stable across timeframes, ranging from 0.62 to 0.71 - a consistent structural relationship.

SOXL vs. UMDD - Sectors Allocation Comparison

Sectors	SOXL	UMDD
Technology	100.0%	9.0%
Basic Materials	-	2.6%
Communication Services	-	0.5%
Consumer Cyclical	-	5.1%
Consumer Defensive	-	2.2%
Energy	-	2.7%
Financial Services	-	7.1%
Healthcare	-	4.8%
Industrials	-	13.4%
Real Estate	-	3.9%
Utilities	-	1.6%

Return for Risk

SOXL vs. UMDD — Risk / Return Rank

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

SOXL

SOXL Risk / Return Rank: 97
SOXL Sharpe Ratio Rank: 99
SOXL Sortino Ratio Rank: 93
SOXL Omega Ratio Rank: 94
SOXL Calmar Ratio Rank: 99
SOXL Martin Ratio Rank: 98

UMDD

UMDD Risk / Return Rank: 42
UMDD Sharpe Ratio Rank: 37
UMDD Sortino Ratio Rank: 39
UMDD Omega Ratio Rank: 37
UMDD Calmar Ratio Rank: 48
UMDD Martin Ratio Rank: 48

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.

SOXL vs. UMDD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Direxion Daily Semiconductor Bull 3X ETF (SOXL) 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.

	SOXL	UMDD	Difference
Sharpe ratio: Return per unit of total volatility	9.42	1.20	+8.23
Sortino ratio: Return per unit of downside risk	4.27	1.80	+2.47
Omega ratio: Gain probability vs. loss probability	1.61	1.22	+0.40
Calmar ratio: Return relative to maximum drawdown	23.39	2.16	+21.23
Martin ratio: Return relative to average drawdown	78.42	7.21	+71.21
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SOXL vs. UMDD - Sharpe Ratio Comparison

The current SOXL Sharpe Ratio is 9.42, which is higher than the UMDD Sharpe Ratio of 1.20. The chart below compares the historical Sharpe Ratios of SOXL 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.

Sharpe Ratios by Period

	SOXL	UMDD	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	9.42	1.20	+8.23
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.39	0.02	+0.37
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.62	0.18	+0.43
Sharpe Ratio (All Time) Calculated using the full available price history	0.49	0.32	+0.17

Drawdowns

SOXL vs. UMDD - Drawdown Comparison

The maximum SOXL drawdown since its inception was -90.46%, roughly equal to the maximum UMDD drawdown of -86.24%. Use the drawdown chart below to compare losses from any high point for SOXL and UMDD.

Drawdown Indicators

	SOXL	UMDD	Difference
Max Drawdown Largest peak-to-trough decline	-90.46%	-86.24%	-4.22%
Max Drawdown (1Y) Largest decline over 1 year	-43.47%	-26.04%	-17.43%
Max Drawdown (3Y) Largest decline over 3 years	-87.88%	-60.33%	-27.55%
Max Drawdown (5Y) Largest decline over 5 years	-90.46%	-64.61%	-25.85%
Max Drawdown (10Y) Largest decline over 10 years	-90.46%	-86.24%	-4.22%
Current Drawdown Current decline from peak	-24.63%	-9.91%	-14.72%
Average Drawdown Average peak-to-trough decline	-35.01%	-23.60%	-11.41%
Ulcer Index Depth and duration of drawdowns from previous peaks	12.94%	7.78%	+5.16%

Volatility

SOXL vs. UMDD - Volatility Comparison

Direxion Daily Semiconductor Bull 3X ETF (SOXL) has a higher volatility of 56.07% compared to ProShares UltraPro MidCap400 (UMDD) at 12.43%. This indicates that SOXL's price experiences larger fluctuations and is considered to be riskier than UMDD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SOXL	UMDD	Difference
Volatility (1M) Calculated over the trailing 1-month period	56.07%	12.43%	+43.64%
Volatility (6M) Calculated over the trailing 6-month period	90.69%	34.70%	+55.99%
Volatility (1Y) Calculated over the trailing 1-year period	108.13%	47.01%	+61.12%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	108.35%	58.96%	+49.39%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	99.68%	62.31%	+37.37%

SOXL vs. UMDD - Expense Ratio Comparison

SOXL has a 0.75% expense ratio, which is lower than UMDD's 0.95% expense ratio.

Dividends

SOXL vs. UMDD - Dividend Comparison

SOXL's dividend yield for the trailing twelve months is around 0.04%, less than UMDD's 0.80% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
SOXL Direxion Daily Semiconductor Bull 3X ETF	0.04%	0.34%	1.18%	0.51%	1.07%	0.04%	0.05%	0.38%	1.30%	0.09%	4.84%	0.00%
UMDD ProShares UltraPro MidCap400	0.80%	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 SOXL and UMDD in my portfolio?

SOXL and UMDD have a correlation of 0.62, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SOXL or UMDD?

SOXL has higher volatility (56.07%) compared to UMDD (12.43%). In terms of maximum drawdown, SOXL dropped -90.46% vs UMDD's -86.24%.

Which ETF is better, SOXL or UMDD?

On 10-year performance, SOXL leads with 61.24% vs 11.46% for UMDD. On fees, SOXL is cheaper at 0.75% per year. On volatility, UMDD has been the lower-risk option at 12.43%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SOXL or UMDD?

Over the 10-year period, SOXL has performed better with a 61.24% return vs 11.46%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SOXL or UMDD?

SOXL is cheaper with a 0.75% expense ratio, compared with 0.95% for UMDD.

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

UMDD has the higher dividend yield at 0.80%, compared with 0.04% for SOXL.

What is the main difference between SOXL and UMDD?

SOXL tracks ICE Semiconductor Index, while UMDD tracks S&P MidCap 400 Index (300%). They also come from different issuers: Direxion and ProShares. Their fees differ too: 0.75% for SOXL and 0.95% for UMDD.

Which has better risk-adjusted returns?

SOXL currently has the higher Sharpe Ratio (9.42 vs 1.20), 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.