UAPIX vs. DXSLX

Last updated Jun 23, 2026

UAPIX (ProFunds UltraSmall Cap Fund) and DXSLX (Direxion Monthly S&P 500 Bull 1.75X Fund) are both Leveraged Equities funds. Over the past 10 years, UAPIX returned 11.66%/yr vs 27.22%/yr for DXSLX. Their correlation of 0.85 suggests significant overlap in exposure. UAPIX charges 1.60%/yr vs 1.35%/yr for DXSLX.

Performance

UAPIX vs. DXSLX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProFunds UltraSmall Cap Fund (UAPIX) and Direxion Monthly S&P 500 Bull 1.75X Fund (DXSLX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, UAPIX achieves a 38.89% return, which is significantly higher than DXSLX's 14.48% return. Over the past 10 years, UAPIX has underperformed DXSLX with an annualized return of 11.66%, while DXSLX has yielded a comparatively higher 27.22% annualized return.

UAPIX

• 1D: 4.14%
• 1M: 7.27%
• YTD: 38.89%
• 6M: 30.58%
• 1Y: 84.98%
• 3Y*: 24.58%
• 5Y*: 3.21%
• 10Y*: 11.66%

DXSLX

• 1D: 1.84%
• 1M: 0.31%
• YTD: 14.48%
• 6M: 13.45%
• 1Y: 42.73%
• 3Y*: 30.08%
• 5Y*: 17.53%
• 10Y*: 27.22%

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

UAPIX vs. DXSLX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
UAPIX ProFunds UltraSmall Cap Fund	38.89%	12.77%	10.42%	22.26%	-43.78%	23.06%	13.86%	46.81%	-26.88%	24.36%
DXSLX Direxion Monthly S&P 500 Bull 1.75X Fund	14.48%	25.05%	37.66%	39.91%	-37.35%	59.07%	27.52%	61.52%	-14.82%	98.50%

Correlation

The correlation between UAPIX and DXSLX is 0.80, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.80
Correlation (3Y) Calculated over the trailing 3-year period	0.77
Correlation (5Y) Calculated over the trailing 5-year period	0.82
Correlation (10Y) Calculated over the trailing 10-year period	0.80
Correlation (All Time) Calculated using the full available price history since May 3, 2006	0.85

The correlation between UAPIX and DXSLX has been stable across timeframes, ranging from 0.77 to 0.85 - a consistent structural relationship.

Return for Risk

UAPIX vs. DXSLX — Risk / Return Rank

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

UAPIX

UAPIX Risk / Return Rank: 62
UAPIX Sharpe Ratio Rank: 64
UAPIX Sortino Ratio Rank: 49
UAPIX Omega Ratio Rank: 42
UAPIX Calmar Ratio Rank: 85
UAPIX Martin Ratio Rank: 72

DXSLX

DXSLX Risk / Return Rank: 50
DXSLX Sharpe Ratio Rank: 51
DXSLX Sortino Ratio Rank: 42
DXSLX Omega Ratio Rank: 45
DXSLX Calmar Ratio Rank: 50
DXSLX Martin Ratio Rank: 61

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.

UAPIX vs. DXSLX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProFunds UltraSmall Cap Fund (UAPIX) and Direxion Monthly S&P 500 Bull 1.75X Fund (DXSLX). 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	DXSLX	Difference
Sharpe ratio: Return per unit of total volatility	2.15	1.93	+0.22
Sortino ratio: Return per unit of downside risk	2.72	2.52	+0.20
Omega ratio: Gain probability vs. loss probability	1.32	1.34	-0.01
Calmar ratio: Return relative to maximum drawdown	3.80	2.59	+1.20
Martin ratio: Return relative to average drawdown	12.90	11.37	+1.53

UAPIX vs. DXSLX - Sharpe Ratio Comparison

The current UAPIX Sharpe Ratio is 2.15, which is comparable to the DXSLX Sharpe Ratio of 1.93. The chart below compares the historical Sharpe Ratios of UAPIX and DXSLX, 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. DXSLX - Drawdown Comparison

The maximum UAPIX drawdown since its inception was -88.51%, roughly equal to the maximum DXSLX drawdown of -91.80%. Use the drawdown chart below to compare losses from any high point for UAPIX and DXSLX.

Drawdown Indicators

	UAPIX	DXSLX	Difference
Max Drawdown Largest peak-to-trough decline	-88.51%	-91.80%	+3.29%
Max Drawdown (1Y) Largest decline over 1 year	-22.32%	-16.30%	-6.02%
Max Drawdown (3Y) Largest decline over 3 years	-49.86%	-31.90%	-17.96%
Max Drawdown (5Y) Largest decline over 5 years	-61.82%	-44.67%	-17.15%
Max Drawdown (10Y) Largest decline over 10 years	-72.18%	-61.09%	-11.09%
Current Drawdown Current decline from peak	-0.36%	-2.69%	+2.33%
Average Drawdown Average peak-to-trough decline	-35.99%	-21.51%	-14.48%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.55%	3.71%	+2.84%

Volatility

UAPIX vs. DXSLX - Volatility Comparison

ProFunds UltraSmall Cap Fund (UAPIX) has a higher volatility of 13.52% compared to Direxion Monthly S&P 500 Bull 1.75X Fund (DXSLX) at 8.43%. This indicates that UAPIX's price experiences larger fluctuations and is considered to be riskier than DXSLX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	UAPIX	DXSLX	Difference
Volatility (1M) Calculated over the trailing 1-month period	13.52%	8.43%	+5.09%
Volatility (6M) Calculated over the trailing 6-month period	28.65%	17.43%	+11.22%
Volatility (1Y) Calculated over the trailing 1-year period	39.37%	21.90%	+17.47%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	45.33%	31.45%	+13.88%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	46.62%	38.65%	+7.97%

UAPIX vs. DXSLX - Expense Ratio Comparison

UAPIX has a 1.60% expense ratio, which is higher than DXSLX's 1.35% expense ratio.

Dividends

UAPIX vs. DXSLX - Dividend Comparison

UAPIX's dividend yield for the trailing twelve months is around 0.34%, less than DXSLX's 6.66% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DXSLX Direxion Monthly S&P 500 Bull 1.75X Fund	6.66%	7.93%	10.57%	0.00%	0.00%	7.89%	2.42%	4.41%	7.21%	34.95%	0.00%	25.71%
UAPIX ProFunds UltraSmall Cap Fund	0.34%	0.47%	1.06%	0.73%	0.00%	0.00%	0.00%	0.00%	0.13%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both UAPIX and DXSLX in my portfolio?

UAPIX and DXSLX have a correlation of 0.80, 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 DXSLX?

UAPIX has higher volatility (13.52%) compared to DXSLX (8.43%). In terms of maximum drawdown, UAPIX dropped -88.51% vs DXSLX's -91.80%.

Which has better risk-adjusted returns?

UAPIX currently has the higher Sharpe Ratio (2.15 vs 1.93), 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.