UMDD vs. SOXL

Last updated Jun 4, 2026

UMDD (ProShares UltraPro MidCap400) and SOXL (Direxion Daily Semiconductor Bull 3X ETF) are both Leveraged Equities funds - UMDD tracks the S&P MidCap 400 Index (300%) while SOXL tracks the ICE Semiconductor Index. Both are passively managed. Over the past 10 years, UMDD returned 11.97%/yr vs 65.39%/yr for SOXL. A 0.71 correlation means they provide meaningful diversification when combined. UMDD charges 0.95%/yr vs 0.75%/yr for SOXL.

Performance

UMDD vs. SOXL - Performance Comparison

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

Returns By Period

In the year-to-date period, UMDD achieves a 37.59% return, which is significantly lower than SOXL's 567.48% return. Over the past 10 years, UMDD has underperformed SOXL with an annualized return of 11.97%, while SOXL has yielded a comparatively higher 65.39% annualized return.

UMDD

• 1D: -0.02%
• 1M: 10.87%
• YTD: 37.59%
• 6M: 37.25%
• 1Y: 65.82%
• 3Y*: 25.91%
• 5Y*: 2.33%
• 10Y*: 11.97%

SOXL

• 1D: 5.34%
• 1M: 119.95%
• YTD: 567.48%
• 6M: 502.28%
• 1Y: 1,438.30%
• 3Y*: 135.13%
• 5Y*: 48.72%
• 10Y*: 65.39%

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

UMDD vs. SOXL - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
UMDD ProShares UltraPro MidCap400	37.59%	-2.57%	19.68%	27.21%	-49.60%	72.27%	-17.30%	78.90%	-40.29%	49.17%
SOXL Direxion Daily Semiconductor Bull 3X ETF	567.48%	54.91%	-12.31%	226.98%	-85.66%	118.84%	70.04%	231.83%	-39.07%	141.71%

Correlation

The correlation between UMDD and SOXL is 0.62, 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	0.62
Correlation (3Y) Calculated over the trailing 3-year period	0.63
Correlation (5Y) Calculated over the trailing 5-year period	0.69
Correlation (10Y) Calculated over the trailing 10-year period	0.66
Correlation (All Time) Calculated using the full available price history since Mar 12, 2010	0.71

The correlation between UMDD and SOXL has been stable across timeframes, ranging from 0.62 to 0.71 - a consistent structural relationship.

UMDD vs. SOXL - Sectors Allocation Comparison

Sectors	UMDD	SOXL
Industrials	13.6%	-
Technology	9.1%	100.0%
Financial Services	7.5%	-
Consumer Cyclical	5.2%	-
Healthcare	4.8%	-
Real Estate	4.1%	-
Energy	2.9%	-
Basic Materials	2.6%	-
Consumer Defensive	2.2%	-
Utilities	1.6%	-
Communication Services	0.5%	-

Return for Risk

UMDD vs. SOXL — Risk / Return Rank

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

UMDD

UMDD Risk / Return Rank: 44
UMDD Sharpe Ratio Rank: 40
UMDD Sortino Ratio Rank: 39
UMDD Omega Ratio Rank: 37
UMDD Calmar Ratio Rank: 52
UMDD Martin Ratio Rank: 50

SOXL

SOXL Risk / Return Rank: 97
SOXL Sharpe Ratio Rank: 100
SOXL Sortino Ratio Rank: 95
SOXL Omega Ratio Rank: 95
SOXL Calmar Ratio Rank: 99
SOXL Martin Ratio Rank: 99

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. SOXL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares UltraPro MidCap400 (UMDD) and Direxion Daily Semiconductor Bull 3X ETF (SOXL). 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	SOXL	Difference
Sharpe ratio Return per unit of total volatility	1.42	14.28	-12.87
Sortino ratio Return per unit of downside risk	2.04	5.17	-3.14
Omega ratio Gain probability vs. loss probability	1.25	1.72	-0.47
Calmar ratio Return relative to maximum drawdown	2.54	33.47	-30.93
Martin ratio Return relative to average drawdown	8.51	114.79	-106.28
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. SOXL - Sharpe Ratio Comparison

The current UMDD Sharpe Ratio is 1.42, which is lower than the SOXL Sharpe Ratio of 14.28. The chart below compares the historical Sharpe Ratios of UMDD and SOXL, 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

	UMDD	SOXL	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.42	14.28	-12.87
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.04	0.46	-0.42
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.19	0.66	-0.47
Sharpe Ratio (All Time) Calculated using the full available price history	0.32	0.52	-0.19

Drawdowns

UMDD vs. SOXL - Drawdown Comparison

The maximum UMDD drawdown since its inception was -86.24%, roughly equal to the maximum SOXL drawdown of -90.46%. Use the drawdown chart below to compare losses from any high point for UMDD and SOXL.

Drawdown Indicators

	UMDD	SOXL	Difference
Max Drawdown Largest peak-to-trough decline	-86.24%	-90.46%	+4.22%
Max Drawdown (1Y) Largest decline over 1 year	-26.04%	-43.47%	+17.43%
Max Drawdown (3Y) Largest decline over 3 years	-60.33%	-87.88%	+27.55%
Max Drawdown (5Y) Largest decline over 5 years	-64.61%	-90.46%	+25.85%
Max Drawdown (10Y) Largest decline over 10 years	-86.24%	-90.46%	+4.22%
Current Drawdown Current decline from peak	-5.77%	0.00%	-5.77%
Average Drawdown Average peak-to-trough decline	-23.61%	-35.01%	+11.40%
Ulcer Index Depth and duration of drawdowns from previous peaks	7.76%	12.65%	-4.89%

Volatility

UMDD vs. SOXL - Volatility Comparison

The current volatility for ProShares UltraPro MidCap400 (UMDD) is 13.48%, while Direxion Daily Semiconductor Bull 3X ETF (SOXL) has a volatility of 40.82%. This indicates that UMDD experiences smaller price fluctuations and is considered to be less risky than SOXL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	UMDD	SOXL	Difference
Volatility (1M) Calculated over the trailing 1-month period	13.48%	40.82%	-27.34%
Volatility (6M) Calculated over the trailing 6-month period	34.23%	81.29%	-47.06%
Volatility (1Y) Calculated over the trailing 1-year period	46.79%	102.11%	-55.32%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	58.91%	107.25%	-48.34%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	62.28%	99.04%	-36.76%

UMDD vs. SOXL - Expense Ratio Comparison

UMDD has a 0.95% expense ratio, which is higher than SOXL's 0.75% expense ratio.

Dividends

UMDD vs. SOXL - Dividend Comparison

UMDD's dividend yield for the trailing twelve months is around 0.76%, more than SOXL's 0.03% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
SOXL Direxion Daily Semiconductor Bull 3X ETF	0.03%	0.34%	1.18%	0.51%	1.07%	0.04%	0.05%	0.38%	1.30%	0.09%	4.84%	0.00%
UMDD ProShares UltraPro MidCap400	0.76%	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 SOXL in my portfolio?

UMDD and SOXL have a correlation of 0.62, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, UMDD or SOXL?

SOXL has higher volatility (40.82%) compared to UMDD (13.48%). In terms of maximum drawdown, UMDD dropped -86.24% vs SOXL's -90.46%.

Which ETF is better, UMDD or SOXL?

On 10-year performance, SOXL leads with 65.39% vs 11.97% for UMDD. On fees, SOXL is cheaper at 0.75% per year. On volatility, UMDD has been the lower-risk option at 13.48%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, UMDD or SOXL?

Over the 10-year period, SOXL has performed better with a 65.39% return vs 11.97%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, UMDD or SOXL?

SOXL is cheaper with a 0.75% expense ratio, compared with 0.95% for UMDD.

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

UMDD has the higher dividend yield at 0.76%, compared with 0.03% for SOXL.

What is the main difference between UMDD and SOXL?

UMDD tracks S&P MidCap 400 Index (300%), while SOXL tracks ICE Semiconductor Index. They also come from different issuers: ProShares and Direxion. Their fees differ too: 0.95% for UMDD and 0.75% for SOXL.

Which has better risk-adjusted returns?

SOXL currently has the higher Sharpe Ratio (14.28 vs 1.42), 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.