ULPIX vs. DXNLX

Last updated Jun 24, 2026

ULPIX (ProFunds UltraBull Fund) and DXNLX (Direxion Monthly NASDAQ-100 Bull 1.25X Fund) are both Leveraged Equities funds. Over the past 5 years, ULPIX returned 17.45%/yr vs 17.55%/yr for DXNLX. Their correlation of 0.90 suggests significant overlap in exposure. ULPIX charges 1.46%/yr vs 1.19%/yr for DXNLX.

Performance

ULPIX vs. DXNLX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProFunds UltraBull Fund (ULPIX) and Direxion Monthly NASDAQ-100 Bull 1.25X Fund (DXNLX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ULPIX achieves a 16.02% return, which is significantly lower than DXNLX's 23.70% return.

ULPIX

• 1D: -0.78%
• 1M: -0.52%
• YTD: 16.02%
• 6M: 13.77%
• 1Y: 45.84%
• 3Y*: 32.87%
• 5Y*: 17.45%
• 10Y*: 23.21%

DXNLX

• 1D: -0.29%
• 1M: 3.40%
• YTD: 23.70%
• 6M: 21.61%
• 1Y: 46.08%
• 3Y*: 30.69%
• 5Y*: 17.55%
• 10Y*: —

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

ULPIX vs. DXNLX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
ULPIX ProFunds UltraBull Fund	16.02%	25.47%	38.03%	45.59%	-39.16%	59.28%	19.12%	62.17%	-15.02%	42.77%
DXNLX Direxion Monthly NASDAQ-100 Bull 1.25X Fund	23.70%	22.13%	28.56%	66.63%	-40.88%	32.49%	58.90%	46.34%	-3.37%	37.37%

Correlation

The correlation between ULPIX and DXNLX is 0.94, 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	0.94
Correlation (3Y) Calculated over the trailing 3-year period	0.92
Correlation (5Y) Calculated over the trailing 5-year period	0.93
Correlation (All Time) Calculated using the full available price history since Jan 3, 2017	0.90

The correlation between ULPIX and DXNLX has been stable across timeframes, ranging from 0.90 to 0.94 - a consistent structural relationship.

Return for Risk

ULPIX vs. DXNLX — Risk / Return Rank

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

ULPIX

ULPIX Risk / Return Rank: 51
ULPIX Sharpe Ratio Rank: 52
ULPIX Sortino Ratio Rank: 42
ULPIX Omega Ratio Rank: 45
ULPIX Calmar Ratio Rank: 53
ULPIX Martin Ratio Rank: 61

DXNLX

DXNLX Risk / Return Rank: 59
DXNLX Sharpe Ratio Rank: 66
DXNLX Sortino Ratio Rank: 52
DXNLX Omega Ratio Rank: 54
DXNLX Calmar Ratio Rank: 68
DXNLX Martin Ratio Rank: 57

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.

ULPIX vs. DXNLX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProFunds UltraBull Fund (ULPIX) and Direxion Monthly NASDAQ-100 Bull 1.25X Fund (DXNLX). 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.

	ULPIX	DXNLX	Difference
Sharpe ratio: Return per unit of total volatility	1.96	2.18	-0.22
Sortino ratio: Return per unit of downside risk	2.52	2.79	-0.27
Omega ratio: Gain probability vs. loss probability	1.33	1.37	-0.04
Calmar ratio: Return relative to maximum drawdown	2.67	3.03	-0.36
Martin ratio: Return relative to average drawdown	11.36	10.87	+0.49

ULPIX vs. DXNLX - Sharpe Ratio Comparison

The current ULPIX Sharpe Ratio is 1.96, which is comparable to the DXNLX Sharpe Ratio of 2.18. The chart below compares the historical Sharpe Ratios of ULPIX and DXNLX, 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

ULPIX vs. DXNLX - Drawdown Comparison

The maximum ULPIX drawdown since its inception was -89.68%, which is greater than DXNLX's maximum drawdown of -43.77%. Use the drawdown chart below to compare losses from any high point for ULPIX and DXNLX.

Drawdown Indicators

	ULPIX	DXNLX	Difference
Max Drawdown Largest peak-to-trough decline	-89.68%	-43.77%	-45.91%
Max Drawdown (1Y) Largest decline over 1 year	-18.30%	-15.91%	-2.39%
Max Drawdown (3Y) Largest decline over 3 years	-36.59%	-28.35%	-8.24%
Max Drawdown (5Y) Largest decline over 5 years	-46.92%	-43.77%	-3.15%
Max Drawdown (10Y) Largest decline over 10 years	-59.41%	—	—
Current Drawdown Current decline from peak	-3.93%	-1.41%	-2.52%
Average Drawdown Average peak-to-trough decline	-33.78%	-8.67%	-25.11%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.29%	4.42%	-0.13%

Volatility

ULPIX vs. DXNLX - Volatility Comparison

The current volatility for ProFunds UltraBull Fund (ULPIX) is 9.35%, while Direxion Monthly NASDAQ-100 Bull 1.25X Fund (DXNLX) has a volatility of 10.58%. This indicates that ULPIX experiences smaller price fluctuations and is considered to be less risky than DXNLX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ULPIX	DXNLX	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.35%	10.58%	-1.23%
Volatility (6M) Calculated over the trailing 6-month period	19.65%	17.78%	+1.87%
Volatility (1Y) Calculated over the trailing 1-year period	24.96%	22.17%	+2.79%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	34.09%	28.56%	+5.53%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	35.54%	28.94%	+6.60%

ULPIX vs. DXNLX - Expense Ratio Comparison

ULPIX has a 1.46% expense ratio, which is higher than DXNLX's 1.19% expense ratio.

Dividends

ULPIX vs. DXNLX - Dividend Comparison

ULPIX's dividend yield for the trailing twelve months is around 7.85%, more than DXNLX's 0.81% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
DXNLX Direxion Monthly NASDAQ-100 Bull 1.25X Fund	0.81%	2.31%	0.17%	0.00%	0.00%	7.43%	12.20%	0.00%	8.79%	7.52%
ULPIX ProFunds UltraBull Fund	7.85%	9.11%	0.00%	0.02%	10.36%	5.62%	12.74%	0.42%	0.58%	0.00%

Frequently Asked Questions

Can I hold both ULPIX and DXNLX in my portfolio?

With a correlation of 0.94, ULPIX and DXNLX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, ULPIX or DXNLX?

DXNLX has higher volatility (10.58%) compared to ULPIX (9.35%). In terms of maximum drawdown, ULPIX dropped -89.68% vs DXNLX's -43.77%.

Which has better risk-adjusted returns?

DXNLX currently has the higher Sharpe Ratio (2.18 vs 1.96), 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.