UCC vs. TSMX

Last updated Jun 4, 2026

UCC (ProShares Ultra Consumer Services) and TSMX (Direxion Daily TSM Bull 2X Shares) are both Leveraged Equities funds. UCC is passively managed, while TSMX is actively managed. Over the past year, UCC returned 8.56% vs 295.18% for TSMX. At a 0.43 correlation, their price movements are largely independent. UCC charges 0.95%/yr vs 1.05%/yr for TSMX.

Performance

UCC vs. TSMX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares Ultra Consumer Services (UCC) and Direxion Daily TSM Bull 2X Shares (TSMX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, UCC achieves a -8.01% return, which is significantly lower than TSMX's 85.80% return.

UCC

• 1D: -1.54%
• 1M: -2.42%
• YTD: -8.01%
• 6M: -8.22%
• 1Y: 8.56%
• 3Y*: 18.68%
• 5Y*: 0.42%
• 10Y*: 14.02%

TSMX

• 1D: -4.27%
• 1M: 15.97%
• YTD: 85.80%
• 6M: 94.81%
• 1Y: 295.18%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

UCC vs. TSMX - Yearly Performance Comparison

	2026 (YTD)	2025	2024
UCC ProShares Ultra Consumer Services	-8.01%	2.21%	28.71%
TSMX Direxion Daily TSM Bull 2X Shares	85.80%	81.48%	14.76%

Correlation

The correlation between UCC and TSMX is 0.40, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.40
Correlation (All Time) Calculated using the full available price history since Oct 4, 2024	0.43

Return for Risk

UCC vs. TSMX — Risk / Return Rank

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

UCC

UCC Risk / Return Rank: 13
UCC Sharpe Ratio Rank: 12
UCC Sortino Ratio Rank: 13
UCC Omega Ratio Rank: 13
UCC Calmar Ratio Rank: 12
UCC Martin Ratio Rank: 13

TSMX

TSMX Risk / Return Rank: 89
TSMX Sharpe Ratio Rank: 96
TSMX Sortino Ratio Rank: 83
TSMX Omega Ratio Rank: 75
TSMX Calmar Ratio Rank: 95
TSMX Martin Ratio Rank: 94

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.

UCC vs. TSMX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares Ultra Consumer Services (UCC) and Direxion Daily TSM Bull 2X Shares (TSMX). 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.

	UCC	TSMX	Difference
Sharpe ratio: Return per unit of total volatility	0.24	4.15	-3.92
Sortino ratio: Return per unit of downside risk	0.59	3.78	-3.19
Omega ratio: Gain probability vs. loss probability	1.07	1.45	-0.39
Calmar ratio: Return relative to maximum drawdown	0.30	8.51	-8.22
Martin ratio: Return relative to average drawdown	0.85	27.80	-26.95
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

UCC vs. TSMX - Sharpe Ratio Comparison

The current UCC Sharpe Ratio is 0.24, which is lower than the TSMX Sharpe Ratio of 4.15. The chart below compares the historical Sharpe Ratios of UCC and TSMX, 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

	UCC	TSMX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.24	4.15	-3.92
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.01	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.35	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.33	1.57	-1.24

Drawdowns

UCC vs. TSMX - Drawdown Comparison

The maximum UCC drawdown since its inception was -83.05%, which is greater than TSMX's maximum drawdown of -63.80%. Use the drawdown chart below to compare losses from any high point for UCC and TSMX.

Drawdown Indicators

	UCC	TSMX	Difference
Max Drawdown Largest peak-to-trough decline	-83.05%	-63.80%	-19.25%
Max Drawdown (1Y) Largest decline over 1 year	-29.14%	-34.93%	+5.79%
Max Drawdown (3Y) Largest decline over 3 years	-48.01%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-61.77%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-61.77%	—	—
Current Drawdown Current decline from peak	-17.87%	-4.27%	-13.60%
Average Drawdown Average peak-to-trough decline	-21.81%	-15.85%	-5.96%
Ulcer Index Depth and duration of drawdowns from previous peaks	10.10%	10.68%	-0.58%

Volatility

UCC vs. TSMX - Volatility Comparison

The current volatility for ProShares Ultra Consumer Services (UCC) is 10.35%, while Direxion Daily TSM Bull 2X Shares (TSMX) has a volatility of 22.91%. This indicates that UCC experiences smaller price fluctuations and is considered to be less risky than TSMX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	UCC	TSMX	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.35%	22.91%	-12.56%
Volatility (6M) Calculated over the trailing 6-month period	26.42%	54.45%	-28.03%
Volatility (1Y) Calculated over the trailing 1-year period	36.21%	71.63%	-35.42%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	43.60%	80.93%	-37.33%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	40.62%	80.93%	-40.31%

UCC vs. TSMX - Expense Ratio Comparison

UCC has a 0.95% expense ratio, which is lower than TSMX's 1.05% expense ratio.

Dividends

UCC vs. TSMX - Dividend Comparison

UCC's dividend yield for the trailing twelve months is around 1.18%, less than TSMX's 4.44% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
TSMX Direxion Daily TSM Bull 2X Shares	4.44%	8.01%	0.53%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
UCC ProShares Ultra Consumer Services	1.18%	1.10%	0.17%	0.04%	0.25%	0.00%	0.02%	0.17%	0.18%	0.14%	0.21%	0.14%

Frequently Asked Questions

Can I hold both UCC and TSMX in my portfolio?

UCC and TSMX have a correlation of 0.40, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, UCC or TSMX?

TSMX has higher volatility (22.91%) compared to UCC (10.35%). In terms of maximum drawdown, UCC dropped -83.05% vs TSMX's -63.80%.

Which ETF is better, UCC or TSMX?

On 1-year performance, TSMX leads with 295.18% vs 8.56% for UCC. On fees, UCC is cheaper at 0.95% per year. On volatility, UCC has been the lower-risk option at 10.35%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, UCC or TSMX?

Over the 1-year period, TSMX has performed better with a 295.18% return vs 8.56%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, UCC or TSMX?

UCC is cheaper with a 0.95% expense ratio, compared with 1.05% for TSMX.

Which ETF pays a higher dividend yield, UCC or TSMX?

TSMX has the higher dividend yield at 4.44%, compared with 1.18% for UCC.

What is the main difference between UCC and TSMX?

They also come from different issuers: ProShares and Direxion. Their fees differ too: 0.95% for UCC and 1.05% for TSMX.

Which has better risk-adjusted returns?

TSMX currently has the higher Sharpe Ratio (4.15 vs 0.24), 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.