UMDD vs. MIDU

Last updated Aug 2, 2026

UMDD (ProShares UltraPro MidCap400) and MIDU (Direxion Daily Mid Cap Bull 3X Shares) are both Leveraged Equities funds tracking the S&P MidCap 400 Index (300%), from ProShares and Direxion respectively. Both are passively managed. Over the past 10 years, UMDD returned 11.12%/yr vs 11.16%/yr for MIDU. Their 0.99 correlation means they have historically moved very closely together. UMDD charges 0.95%/yr vs 1.06%/yr for MIDU.

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.

Returns By Period

The year-to-date returns for both investments are quite close, with UMDD having a 35.46% return and MIDU slightly higher at 35.81%. Both investments have delivered pretty close results over the past 10 years, with UMDD having a 11.12% annualized return and MIDU not far ahead at 11.16%.

UMDD

• 1D: -0.37%
• 1M: -3.98%
• 6M: 22.23%
• YTD: 35.46%
• 1Y: 55.22%
• 3Y*: 16.21%
• 5Y*: 2.85%
• 10Y*: 11.12%
• ALL TIME*: 19.20%

MIDU

• 1D: -0.43%
• 1M: -4.22%
• 6M: 22.23%
• YTD: 35.81%
• 1Y: 55.48%
• 3Y*: 16.62%
• 5Y*: 3.17%
• 10Y*: 11.16%
• ALL TIME*: 21.79%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
MIDU Direxion Daily Mid Cap Bull 3X Shares	$996.89K	$1.15M	$1.50M
UMDD ProShares UltraPro MidCap400	$334.25K	$273.81K	$251.01K

UMDD vs. MIDU - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
UMDD ProShares UltraPro MidCap400	35.46%	-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	35.81%	-2.75%	20.32%	27.79%	-49.27%	72.89%	-18.31%	77.38%	-39.21%	46.86%

Correlation

The correlation between UMDD and MIDU is 1.00 - they have historically moved very closely together. At this level, their price movements offset little of one another.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	1.00
Correlation (3Y) Balances recent behavior with more history.	1.00
Correlation (5Y) Shows whether the relationship held over a longer period.	1.00
Correlation (10Y) Provides a long-term view across more market conditions.	0.99
Correlation (All Time) Calculated using the full available price history since Feb 11, 2010	0.99

The correlation between UMDD and MIDU has been stable across timeframes, ranging from 0.99 to 1.00 - a consistent structural relationship.

UMDD vs. MIDU - Sectors Allocation Comparison

Sectors	UMDD	MIDU
Industrials	25.3%	5.0%
Technology	17.2%	3.6%
Financial Services	13.9%	3.3%
Consumer Cyclical	10.5%	2.4%
Healthcare	9.0%	2.4%
Real Estate	7.2%	1.8%
Basic Materials	4.8%	1.6%
Energy	4.6%	1.2%
Consumer Defensive	3.2%	0.8%
Utilities	2.9%	0.7%
Communication Services	1.5%	0.4%

Return for Risk

UMDD vs. MIDU — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

UMDD

UMDD Risk / Return Rank: 47
UMDD Sharpe Ratio Rank: 42
UMDD Sortino Ratio Rank: 45
UMDD Omega Ratio Rank: 42
UMDD Calmar Ratio Rank: 53
UMDD Martin Ratio Rank: 53

MIDU

MIDU Risk / Return Rank: 47
MIDU Sharpe Ratio Rank: 41
MIDU Sortino Ratio Rank: 46
MIDU Omega Ratio Rank: 42
MIDU Calmar Ratio Rank: 53
MIDU Martin Ratio Rank: 52

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

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.

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.

	UMDD	MIDU	Difference
Sharpe ratio: Return per unit of total volatility	1.04	1.04	0.00
Sortino ratio: Return per unit of downside risk	1.65	1.65	0.00
Omega ratio: Gain probability vs. loss probability	1.20	1.20	0.00
Calmar ratio: Return relative to maximum drawdown	1.88	1.88	0.00
Martin ratio: Return relative to average drawdown	6.25	6.19	+0.06

UMDD vs. MIDU - Sharpe Ratio Comparison

The current UMDD Sharpe Ratio is 1.04, which is comparable to the MIDU Sharpe Ratio of 1.04. The chart below compares the historical Sharpe Ratios of UMDD and MIDU, 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

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	-26.04%	-25.80%	-0.24%
Max Drawdown (3Y) Largest decline over 3 years	-60.33%	-60.41%	+0.08%
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	-7.97%	-8.20%	+0.23%
Average Drawdown Average peak-to-trough decline	-23.43%	-22.27%	-1.16%
Ulcer Index Depth and duration of drawdowns from previous peaks	7.82%	7.83%	-0.01%

Volatility

UMDD vs. MIDU - Volatility Comparison

ProShares UltraPro MidCap400 (UMDD) and Direxion Daily Mid Cap Bull 3X Shares (MIDU) have volatilities of 10.68% and 10.19%, 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	10.68%	10.19%	+0.49%
Volatility (6M) Calculated over the trailing 6-month period	35.11%	34.51%	+0.60%
Volatility (1Y) Calculated over the trailing 1-year period	47.30%	47.01%	+0.29%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	58.69%	59.21%	-0.52%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	62.10%	63.46%	-1.36%

UMDD vs. MIDU - Expense Ratio Comparison

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

Dividends

UMDD vs. MIDU - Dividend Comparison

UMDD's dividend yield for the trailing twelve months is around 0.69%, more than MIDU's 0.52% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
MIDU Direxion Daily Mid Cap Bull 3X Shares	0.52%	1.04%	1.10%	1.43%	0.11%	0.00%	0.06%	0.71%	0.70%	2.67%	1.89%	0.00%
UMDD ProShares UltraPro MidCap400	0.69%	1.00%	0.76%	0.19%	0.49%	0.06%	0.08%	0.64%	0.32%	0.00%	0.03%	0.06%

Frequently Asked Questions

Can I hold both UMDD and MIDU in my portfolio?

With a correlation of 1.00, UMDD and MIDU 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, UMDD or MIDU?

UMDD has higher volatility (10.68%) compared to MIDU (10.19%). In terms of maximum drawdown, UMDD dropped -86.24% vs MIDU's -86.26%.

Which ETF is better, UMDD or MIDU?

On 10-year performance, MIDU leads with 11.16% vs 11.12% for UMDD. On fees, UMDD is cheaper at 0.95% per year. On volatility, MIDU has been the lower-risk option at 10.19%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, UMDD or MIDU?

Over the 10-year period, MIDU has performed better with a 11.16% return vs 11.12%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, UMDD or MIDU?

UMDD is cheaper with a 0.95% expense ratio, compared with 1.06% for MIDU.

Which ETF pays a higher dividend yield, UMDD or MIDU?

UMDD has the higher dividend yield at 0.69%, compared with 0.52% for MIDU.

What is the main difference between UMDD and MIDU?

Both ETFs track S&P MidCap 400 Index (300%). They also come from different issuers: ProShares and Direxion. Their fees differ too: 0.95% for UMDD and 1.06% for MIDU.

Which has better risk-adjusted returns?

UMDD currently has the higher Sharpe Ratio (1.04 vs 1.03), 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.