ULPIX vs. DXRLX

Last updated Jun 24, 2026

ULPIX (ProFunds UltraBull Fund) and DXRLX (Direxion Monthly Small Cap Bull 1.75X Fund) are both Leveraged Equities funds. Over the past 10 years, ULPIX returned 23.21%/yr vs 13.93%/yr for DXRLX. Their correlation of 0.83 suggests significant overlap in exposure. ULPIX charges 1.46%/yr vs 1.35%/yr for DXRLX.

Performance

ULPIX vs. DXRLX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProFunds UltraBull Fund (ULPIX) and Direxion Monthly Small Cap Bull 1.75X Fund (DXRLX). 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 DXRLX's 35.99% return. Over the past 10 years, ULPIX has outperformed DXRLX with an annualized return of 23.21%, while DXRLX has yielded a comparatively lower 13.93% annualized 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%

DXRLX

• 1D: 1.44%
• 1M: 8.07%
• YTD: 35.99%
• 6M: 30.46%
• 1Y: 73.58%
• 3Y*: 26.11%
• 5Y*: 3.21%
• 10Y*: 13.93%

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

ULPIX vs. DXRLX - 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%
DXRLX Direxion Monthly Small Cap Bull 1.75X Fund	35.99%	15.22%	10.66%	20.05%	-40.24%	26.84%	20.98%	46.08%	-27.45%	27.06%

Correlation

The correlation between ULPIX and DXRLX is 0.79, 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	0.79
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	0.81
Correlation (All Time) Calculated using the full available price history since Feb 19, 1999	0.83

The correlation between ULPIX and DXRLX has been stable across timeframes, ranging from 0.77 to 0.83 - a consistent structural relationship.

Return for Risk

ULPIX vs. DXRLX — 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

DXRLX

DXRLX Risk / Return Rank: 68
DXRLX Sharpe Ratio Rank: 70
DXRLX Sortino Ratio Rank: 55
DXRLX Omega Ratio Rank: 46
DXRLX Calmar Ratio Rank: 87
DXRLX Martin Ratio Rank: 80

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. DXRLX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProFunds UltraBull Fund (ULPIX) and Direxion Monthly Small Cap Bull 1.75X Fund (DXRLX). 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	DXRLX	Difference
Sharpe ratio: Return per unit of total volatility	1.96	2.25	-0.29
Sortino ratio: Return per unit of downside risk	2.52	2.85	-0.34
Omega ratio: Gain probability vs. loss probability	1.33	1.34	-0.01
Calmar ratio: Return relative to maximum drawdown	2.67	3.99	-1.33
Martin ratio: Return relative to average drawdown	11.36	14.00	-2.63

ULPIX vs. DXRLX - Sharpe Ratio Comparison

The current ULPIX Sharpe Ratio is 1.96, which is comparable to the DXRLX Sharpe Ratio of 2.25. The chart below compares the historical Sharpe Ratios of ULPIX and DXRLX, 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. DXRLX - Drawdown Comparison

The maximum ULPIX drawdown since its inception was -89.68%, roughly equal to the maximum DXRLX drawdown of -94.32%. Use the drawdown chart below to compare losses from any high point for ULPIX and DXRLX.

Drawdown Indicators

	ULPIX	DXRLX	Difference
Max Drawdown Largest peak-to-trough decline	-89.68%	-94.32%	+4.64%
Max Drawdown (1Y) Largest decline over 1 year	-18.30%	-19.38%	+1.08%
Max Drawdown (3Y) Largest decline over 3 years	-36.59%	-45.58%	+8.99%
Max Drawdown (5Y) Largest decline over 5 years	-46.92%	-57.64%	+10.72%
Max Drawdown (10Y) Largest decline over 10 years	-59.41%	-77.63%	+18.22%
Current Drawdown Current decline from peak	-3.93%	0.00%	-3.93%
Average Drawdown Average peak-to-trough decline	-33.78%	-34.54%	+0.76%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.29%	5.52%	-1.23%

Volatility

ULPIX vs. DXRLX - Volatility Comparison

The current volatility for ProFunds UltraBull Fund (ULPIX) is 9.35%, while Direxion Monthly Small Cap Bull 1.75X Fund (DXRLX) has a volatility of 11.27%. This indicates that ULPIX experiences smaller price fluctuations and is considered to be less risky than DXRLX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ULPIX	DXRLX	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.35%	11.27%	-1.92%
Volatility (6M) Calculated over the trailing 6-month period	19.65%	25.06%	-5.41%
Volatility (1Y) Calculated over the trailing 1-year period	24.96%	34.52%	-9.56%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	34.09%	41.74%	-7.65%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	35.54%	49.27%	-13.73%

ULPIX vs. DXRLX - Expense Ratio Comparison

ULPIX has a 1.46% expense ratio, which is higher than DXRLX's 1.35% expense ratio.

Dividends

ULPIX vs. DXRLX - Dividend Comparison

ULPIX's dividend yield for the trailing twelve months is around 7.85%, more than DXRLX's 1.53% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
DXRLX Direxion Monthly Small Cap Bull 1.75X Fund	1.53%	1.23%	0.66%	0.00%	2.27%	0.84%	0.71%	3.76%	7.60%
ULPIX ProFunds UltraBull Fund	7.85%	9.11%	0.00%	0.02%	10.36%	5.62%	12.74%	0.42%	0.58%

Frequently Asked Questions

Can I hold both ULPIX and DXRLX in my portfolio?

ULPIX and DXRLX have a correlation of 0.79, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ULPIX or DXRLX?

DXRLX has higher volatility (11.27%) compared to ULPIX (9.35%). In terms of maximum drawdown, ULPIX dropped -89.68% vs DXRLX's -94.32%.

Which has better risk-adjusted returns?

DXRLX currently has the higher Sharpe Ratio (2.25 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.