UAPIX vs. DXQLX

Last updated Aug 1, 2026

UAPIX (ProFunds UltraSmall Cap Fund) and DXQLX (Direxion Monthly NASDAQ-100 Bull 1.75X Fund) are both Leveraged Equities funds. Over the past 10 years, UAPIX returned 10.24%/yr vs 31.86%/yr for DXQLX. Their 0.76 correlation means they have sometimes moved together and sometimes differently. UAPIX charges 1.60%/yr vs 1.39%/yr for DXQLX.

Performance

UAPIX vs. DXQLX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProFunds UltraSmall Cap Fund (UAPIX) and Direxion Monthly NASDAQ-100 Bull 1.75X Fund (DXQLX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, UAPIX achieves a 34.82% return, which is significantly higher than DXQLX's 14.96% return. Over the past 10 years, UAPIX has underperformed DXQLX with an annualized return of 10.24%, while DXQLX has yielded a comparatively higher 31.86% annualized return.

UAPIX

• 1D: 2.73%
• 1M: -3.87%
• 6M: 22.23%
• YTD: 34.82%
• 1Y: 71.71%
• 3Y*: 18.45%
• 5Y*: 2.92%
• 10Y*: 10.24%
• ALL TIME*: 4.82%

DXQLX

• 1D: 6.37%
• 1M: -7.75%
• 6M: 13.01%
• YTD: 14.96%
• 1Y: 35.24%
• 3Y*: 31.38%
• 5Y*: 15.36%
• 10Y*: 31.86%
• ALL TIME*: 19.41%

*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)
DXQLX Direxion Monthly NASDAQ-100 Bull 1.75X Fund	$0.00	$0.00	$0.00
UAPIX ProFunds UltraSmall Cap Fund	$0.00	$0.00	$0.00

UAPIX vs. DXQLX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
UAPIX ProFunds UltraSmall Cap Fund	34.82%	12.77%	10.42%	22.26%	-43.78%	23.06%	13.86%	46.81%	-26.88%	24.36%
DXQLX Direxion Monthly NASDAQ-100 Bull 1.75X Fund	14.96%	29.99%	39.26%	97.59%	-57.72%	55.98%	100.94%	79.36%	-7.68%	68.61%

Correlation

The correlation between UAPIX and DXQLX is 0.71, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.71
Correlation (3Y) Balances recent behavior with more history.	0.66
Correlation (5Y) Shows whether the relationship held over a longer period.	0.72
Correlation (10Y) Provides a long-term view across more market conditions.	0.68
Correlation (All Time) Calculated using the full available price history since May 1, 2006	0.76

The correlation between UAPIX and DXQLX shifts across timeframes, from 0.66 (3 years) to 0.76 (all time), reflecting how their relationship changes across market environments.

Return for Risk

UAPIX vs. DXQLX — Risk / Return Rank

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

UAPIX

UAPIX Risk / Return Rank: 67
UAPIX Sharpe Ratio Rank: 64
UAPIX Sortino Ratio Rank: 61
UAPIX Omega Ratio Rank: 51
UAPIX Calmar Ratio Rank: 82
UAPIX Martin Ratio Rank: 76

DXQLX

DXQLX Risk / Return Rank: 28
DXQLX Sharpe Ratio Rank: 26
DXQLX Sortino Ratio Rank: 27
DXQLX Omega Ratio Rank: 27
DXQLX Calmar Ratio Rank: 32
DXQLX Martin Ratio Rank: 30

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.

UAPIX vs. DXQLX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProFunds UltraSmall Cap Fund (UAPIX) and Direxion Monthly NASDAQ-100 Bull 1.75X Fund (DXQLX). 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.

	UAPIX	DXQLX	Difference
Sharpe ratio: Return per unit of total volatility	1.60	0.86	+0.74
Sortino ratio: Return per unit of downside risk	2.22	1.33	+0.88
Omega ratio: Gain probability vs. loss probability	1.26	1.16	+0.10
Calmar ratio: Return relative to maximum drawdown	2.77	1.35	+1.43
Martin ratio: Return relative to average drawdown	9.45	4.20	+5.25

UAPIX vs. DXQLX - Sharpe Ratio Comparison

The current UAPIX Sharpe Ratio is 1.60, which is higher than the DXQLX Sharpe Ratio of 0.86. The chart below compares the historical Sharpe Ratios of UAPIX and DXQLX, 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

UAPIX vs. DXQLX - Drawdown Comparison

The maximum UAPIX drawdown since its inception was -88.51%, roughly equal to the maximum DXQLX drawdown of -92.39%. Use the drawdown chart below to compare losses from any high point for UAPIX and DXQLX.

Drawdown Indicators

	UAPIX	DXQLX	Difference
Max Drawdown Largest peak-to-trough decline	-88.51%	-92.39%	+3.88%
Max Drawdown (1Y) Largest decline over 1 year	-22.32%	-21.88%	-0.44%
Max Drawdown (3Y) Largest decline over 3 years	-49.86%	-37.99%	-11.87%
Max Drawdown (5Y) Largest decline over 5 years	-61.82%	-60.79%	-1.03%
Max Drawdown (10Y) Largest decline over 10 years	-72.18%	-60.79%	-11.39%
Current Drawdown Current decline from peak	-5.70%	-15.07%	+9.37%
Average Drawdown Average peak-to-trough decline	-35.85%	-25.96%	-9.89%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.55%	7.01%	-0.46%

Volatility

UAPIX vs. DXQLX - Volatility Comparison

The current volatility for ProFunds UltraSmall Cap Fund (UAPIX) is 7.64%, while Direxion Monthly NASDAQ-100 Bull 1.75X Fund (DXQLX) has a volatility of 12.62%. This indicates that UAPIX experiences smaller price fluctuations and is considered to be less risky than DXQLX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	UAPIX	DXQLX	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.64%	12.62%	-4.98%
Volatility (6M) Calculated over the trailing 6-month period	28.21%	28.41%	-0.20%
Volatility (1Y) Calculated over the trailing 1-year period	38.79%	34.25%	+4.54%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	45.08%	42.97%	+2.11%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	46.46%	44.72%	+1.74%

UAPIX vs. DXQLX - Expense Ratio Comparison

UAPIX has a 1.60% expense ratio, which is higher than DXQLX's 1.39% expense ratio.

Dividends

UAPIX vs. DXQLX - Dividend Comparison

UAPIX's dividend yield for the trailing twelve months is around 0.35%, less than DXQLX's 12.87% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
DXQLX Direxion Monthly NASDAQ-100 Bull 1.75X Fund	12.87%	14.50%	0.33%	0.00%	0.00%	11.75%	10.90%	3.37%	7.37%	5.72%
UAPIX ProFunds UltraSmall Cap Fund	0.35%	0.47%	1.06%	0.73%	0.00%	0.00%	0.00%	0.00%	0.13%	0.00%

Frequently Asked Questions

Can I hold both UAPIX and DXQLX in my portfolio?

UAPIX and DXQLX have a correlation of 0.71, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, UAPIX or DXQLX?

DXQLX has higher volatility (12.62%) compared to UAPIX (7.64%). In terms of maximum drawdown, UAPIX dropped -88.51% vs DXQLX's -92.39%.

Which has better risk-adjusted returns?

UAPIX currently has the higher Sharpe Ratio (1.60 vs 0.86), 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.