UMDD vs. MIDU

Last updated Apr 2, 2026

Compare and contrast key facts about ProShares UltraPro MidCap400 (UMDD) and Direxion Daily Mid Cap Bull 3X Shares (MIDU).

UMDD and MIDU are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. UMDD is a passively managed fund by ProShares that tracks the performance of the S&P MidCap 400 Index (300%). It was launched on Feb 9, 2010. MIDU is a passively managed fund by Direxion that tracks the performance of the S&P MidCap 400 Index (300%). It was launched on Jan 8, 2009. Both UMDD and MIDU are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

UMDD vs. MIDU - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares UltraPro MidCap400 (UMDD) and Direxion Daily Mid Cap Bull 3X Shares (MIDU). The values are adjusted to include any dividend payments, if applicable.

UMDD vs. MIDU - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
UMDD ProShares UltraPro MidCap400	5.14%	-2.57%	19.68%	27.21%	-49.60%	72.27%	-17.30%	78.90%	-40.29%	49.17%
MIDU Direxion Daily Mid Cap Bull 3X Shares	5.27%	-2.75%	20.32%	27.79%	-49.27%	72.89%	-18.31%	77.38%	-39.21%	46.86%

Returns By Period

The year-to-date returns for both investments are quite close, with UMDD having a 5.14% return and MIDU slightly higher at 5.27%. Both investments have delivered pretty close results over the past 10 years, with UMDD having a 10.04% annualized return and MIDU not far behind at 9.95%.

UMDD

• 1D: 2.82%
• 1M: -17.06%
• YTD: 5.14%
• 6M: 4.81%
• 1Y: 28.13%
• 3Y*: 13.87%
• 5Y*: -1.48%
• 10Y*: 10.04%

MIDU

• 1D: 2.70%
• 1M: -16.95%
• YTD: 5.27%
• 6M: 4.71%
• 1Y: 28.24%
• 3Y*: 14.30%
• 5Y*: -1.16%
• 10Y*: 9.95%

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

UMDD vs. MIDU - Expense Ratio Comparison

UMDD has a 0.95% expense ratio, which is lower than MIDU's 1.06% expense ratio.

MIDU

Direxion Daily Mid Cap Bull 3X Shares

UMDD

ProShares UltraPro MidCap400

Return for Risk

UMDD vs. MIDU — Risk / Return Rank

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

UMDD

UMDD Risk / Return Rank: 30
UMDD Sharpe Ratio Rank: 24
UMDD Sortino Ratio Rank: 34
UMDD Omega Ratio Rank: 33
UMDD Calmar Ratio Rank: 30
UMDD Martin Ratio Rank: 31

MIDU

MIDU Risk / Return Rank: 31
MIDU Sharpe Ratio Rank: 24
MIDU Sortino Ratio Rank: 35
MIDU Omega Ratio Rank: 33
MIDU Calmar Ratio Rank: 31
MIDU Martin Ratio Rank: 31

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.

UMDD vs. MIDU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares UltraPro MidCap400 (UMDD) and Direxion Daily Mid Cap Bull 3X Shares (MIDU). 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.

	UMDD	MIDU	Difference
Sharpe ratio Return per unit of total volatility	0.45	0.44	+0.01
Sortino ratio Return per unit of downside risk	1.05	1.06	-0.01
Omega ratio Gain probability vs. loss probability	1.14	1.15	0.00
Calmar ratio Return relative to maximum drawdown	0.79	0.79	0.00
Martin ratio Return relative to average drawdown	2.84	2.87	-0.03
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

UMDD vs. MIDU - Sharpe Ratio Comparison

The current UMDD Sharpe Ratio is 0.45, which is comparable to the MIDU Sharpe Ratio of 0.44. The chart below compares the historical Sharpe Ratios of UMDD and MIDU, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	UMDD	MIDU	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.45	0.44	+0.01
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.03	-0.02	-0.01
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.16	0.16	0.00
Sharpe Ratio (All Time) Calculated using the full available price history	0.29	0.32	-0.03

Correlation

The correlation between UMDD and MIDU is 0.99, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

UMDD vs. MIDU - Dividend Comparison

UMDD's dividend yield for the trailing twelve months is around 1.00%, more than MIDU's 0.84% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
UMDD ProShares UltraPro MidCap400	1.00%	1.00%	0.76%	0.19%	0.49%	0.06%	0.08%	0.64%	0.32%	0.00%	0.03%	0.06%
MIDU Direxion Daily Mid Cap Bull 3X Shares	0.84%	1.04%	1.10%	1.43%	0.11%	0.00%	0.06%	0.71%	0.70%	2.67%	1.89%	0.00%

Drawdowns

UMDD vs. MIDU - Drawdown Comparison

The maximum UMDD drawdown since its inception was -86.24%, roughly equal to the maximum MIDU drawdown of -86.26%. Use the drawdown chart below to compare losses from any high point for UMDD and MIDU.

Drawdown Indicators

	UMDD	MIDU	Difference
Max Drawdown Largest peak-to-trough decline	-86.24%	-86.26%	+0.02%
Max Drawdown (1Y) Largest decline over 1 year	-38.30%	-38.35%	+0.05%
Max Drawdown (5Y) Largest decline over 5 years	-64.61%	-64.14%	-0.47%
Max Drawdown (10Y) Largest decline over 10 years	-86.24%	-86.26%	+0.02%
Current Drawdown Current decline from peak	-27.99%	-26.73%	-1.26%
Average Drawdown Average peak-to-trough decline	-23.71%	-22.54%	-1.17%
Ulcer Index Depth and duration of drawdowns from previous peaks	10.66%	10.64%	+0.02%

Volatility

UMDD vs. MIDU - Volatility Comparison

ProShares UltraPro MidCap400 (UMDD) and Direxion Daily Mid Cap Bull 3X Shares (MIDU) have volatilities of 19.56% and 19.30%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	UMDD	MIDU	Difference
Volatility (1M) Calculated over the trailing 1-month period	19.56%	19.30%	+0.26%
Volatility (6M) Calculated over the trailing 6-month period	36.08%	35.70%	+0.38%
Volatility (1Y) Calculated over the trailing 1-year period	63.30%	65.21%	-1.91%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	58.88%	59.47%	-0.59%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	62.19%	63.54%	-1.35%