TPOR vs. UMDD

Last updated Jun 3, 2026

TPOR (Direxion Daily Transportation Bull 3X Shares) and UMDD (ProShares UltraPro MidCap400) are both Leveraged Equities funds - TPOR tracks the Dow Jones Transportation Average Index (300%) while UMDD tracks the S&P MidCap 400 Index (300%). Both are passively managed. Over the past 5 years, TPOR returned -2.89%/yr vs 2.64%/yr for UMDD. A 0.80 correlation means they provide meaningful diversification when combined. TPOR charges 1.01%/yr vs 0.95%/yr for UMDD.

Performance

TPOR vs. UMDD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Direxion Daily Transportation Bull 3X Shares (TPOR) 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, TPOR achieves a 30.09% return, which is significantly lower than UMDD's 37.62% return.

TPOR

• 1D: -2.92%
• 1M: 9.78%
• YTD: 30.09%
• 6M: 35.48%
• 1Y: 78.36%
• 3Y*: 18.05%
• 5Y*: -2.89%
• 10Y*: —

UMDD

• 1D: 2.51%
• 1M: 8.57%
• YTD: 37.62%
• 6M: 40.07%
• 1Y: 72.42%
• 3Y*: 25.92%
• 5Y*: 2.64%
• 10Y*: 11.97%

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

TPOR vs. UMDD - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
TPOR Direxion Daily Transportation Bull 3X Shares	30.09%	3.26%	-9.12%	54.60%	-58.70%	105.18%	-7.30%	47.92%	-44.95%	52.32%
UMDD ProShares UltraPro MidCap400	37.62%	-2.57%	19.68%	27.21%	-49.60%	72.27%	-17.30%	78.90%	-40.29%	33.93%

Correlation

The correlation between TPOR and UMDD is 0.76, 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	0.76
Correlation (3Y) Calculated over the trailing 3-year period	0.77
Correlation (5Y) Calculated over the trailing 5-year period	0.81
Correlation (All Time) Calculated using the full available price history since May 4, 2017	0.80

The correlation between TPOR and UMDD has been stable across timeframes, ranging from 0.76 to 0.81 - a consistent structural relationship.

TPOR vs. UMDD - Sectors Allocation Comparison

Sectors	TPOR	UMDD
Industrials	83.3%	13.6%
Technology	16.7%	9.1%
Basic Materials	-	2.6%
Communication Services	-	0.5%
Consumer Cyclical	-	5.2%
Consumer Defensive	-	2.2%
Energy	-	2.9%
Financial Services	-	7.5%
Healthcare	-	4.8%
Real Estate	-	4.1%
Utilities	-	1.6%

Return for Risk

TPOR vs. UMDD — Risk / Return Rank

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

TPOR

TPOR Risk / Return Rank: 38
TPOR Sharpe Ratio Rank: 37
TPOR Sortino Ratio Rank: 36
TPOR Omega Ratio Rank: 35
TPOR Calmar Ratio Rank: 44
TPOR Martin Ratio Rank: 39

UMDD

UMDD Risk / Return Rank: 46
UMDD Sharpe Ratio Rank: 44
UMDD Sortino Ratio Rank: 42
UMDD Omega Ratio Rank: 40
UMDD Calmar Ratio Rank: 54
UMDD Martin Ratio Rank: 52

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.

TPOR vs. UMDD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Direxion Daily Transportation Bull 3X Shares (TPOR) 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.

	TPOR	UMDD	Difference
Sharpe ratio Return per unit of total volatility	1.33	1.56	-0.23
Sortino ratio Return per unit of downside risk	1.91	2.17	-0.26
Omega ratio Gain probability vs. loss probability	1.23	1.26	-0.03
Calmar ratio Return relative to maximum drawdown	2.22	2.70	-0.49
Martin ratio Return relative to average drawdown	6.30	9.07	-2.78
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

TPOR vs. UMDD - Sharpe Ratio Comparison

The current TPOR Sharpe Ratio is 1.33, which is comparable to the UMDD Sharpe Ratio of 1.56. The chart below compares the historical Sharpe Ratios of TPOR 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

	TPOR	UMDD	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.33	1.56	-0.23
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.04	0.05	-0.09
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.19	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.10	0.32	-0.23

Drawdowns

TPOR vs. UMDD - Drawdown Comparison

The maximum TPOR drawdown since its inception was -87.59%, roughly equal to the maximum UMDD drawdown of -86.24%. Use the drawdown chart below to compare losses from any high point for TPOR and UMDD.

Drawdown Indicators

	TPOR	UMDD	Difference
Max Drawdown Largest peak-to-trough decline	-87.59%	-86.24%	-1.35%
Max Drawdown (1Y) Largest decline over 1 year	-34.00%	-26.04%	-7.96%
Max Drawdown (3Y) Largest decline over 3 years	-64.11%	-60.33%	-3.78%
Max Drawdown (5Y) Largest decline over 5 years	-74.08%	-64.61%	-9.47%
Max Drawdown (10Y) Largest decline over 10 years	—	-86.24%	—
Current Drawdown Current decline from peak	-30.66%	-5.75%	-24.91%
Average Drawdown Average peak-to-trough decline	-38.70%	-23.62%	-15.08%
Ulcer Index Depth and duration of drawdowns from previous peaks	11.97%	7.76%	+4.21%

Volatility

TPOR vs. UMDD - Volatility Comparison

Direxion Daily Transportation Bull 3X Shares (TPOR) has a higher volatility of 21.40% compared to ProShares UltraPro MidCap400 (UMDD) at 13.72%. This indicates that TPOR'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

	TPOR	UMDD	Difference
Volatility (1M) Calculated over the trailing 1-month period	21.40%	13.72%	+7.68%
Volatility (6M) Calculated over the trailing 6-month period	44.77%	34.30%	+10.47%
Volatility (1Y) Calculated over the trailing 1-year period	59.28%	46.81%	+12.47%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	67.75%	58.92%	+8.83%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	70.96%	62.29%	+8.67%

TPOR vs. UMDD - Expense Ratio Comparison

TPOR has a 1.01% expense ratio, which is higher than UMDD's 0.95% expense ratio.

Dividends

TPOR vs. UMDD - Dividend Comparison

TPOR's dividend yield for the trailing twelve months is around 0.70%, less than UMDD's 0.76% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
TPOR Direxion Daily Transportation Bull 3X Shares	0.70%	0.91%	1.43%	1.51%	0.00%	0.00%	0.10%	0.96%	1.22%	8.70%	0.00%	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

Can I hold both TPOR and UMDD in my portfolio?

TPOR and UMDD have a correlation of 0.76, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, TPOR or UMDD?

TPOR has higher volatility (21.40%) compared to UMDD (13.72%). In terms of maximum drawdown, TPOR dropped -87.59% vs UMDD's -86.24%.

Which ETF is better, TPOR or UMDD?

On 5-year performance, UMDD leads with 2.64% vs -2.89% for TPOR. On fees, UMDD is cheaper at 0.95% per year. On volatility, UMDD has been the lower-risk option at 13.72%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, TPOR or UMDD?

Over the 5-year period, UMDD has performed better with a 2.64% return vs -2.89%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, TPOR or UMDD?

UMDD is cheaper with a 0.95% expense ratio, compared with 1.01% for TPOR.

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

UMDD has the higher dividend yield at 0.76%, compared with 0.70% for TPOR.

What is the main difference between TPOR and UMDD?

TPOR tracks Dow Jones Transportation Average Index (300%), while UMDD tracks S&P MidCap 400 Index (300%). They also come from different issuers: Direxion and ProShares. Their fees differ too: 1.01% for TPOR and 0.95% for UMDD.

Which has better risk-adjusted returns?

UMDD currently has the higher Sharpe Ratio (1.56 vs 1.33), 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.