UOPIX vs. DXQLX

Last updated Jun 23, 2026

UOPIX (ProFunds UltraNASDAQ-100 Fund) and DXQLX (Direxion Monthly NASDAQ-100 Bull 1.75X Fund) are both Leveraged Equities funds. Over the past 10 years, UOPIX returned 34.97%/yr vs 35.84%/yr for DXQLX. With a 0.98 correlation, they move nearly in lockstep. UOPIX charges 1.47%/yr vs 1.39%/yr for DXQLX.

Performance

UOPIX vs. DXQLX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProFunds UltraNASDAQ-100 Fund (UOPIX) and Direxion Monthly NASDAQ-100 Bull 1.75X Fund (DXQLX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, UOPIX achieves a 38.91% return, which is significantly higher than DXQLX's 33.20% return. Both investments have delivered pretty close results over the past 10 years, with UOPIX having a 34.97% annualized return and DXQLX not far ahead at 35.84%.

UOPIX

• 1D: 4.94%
• 1M: 5.28%
• YTD: 38.91%
• 6M: 36.39%
• 1Y: 82.89%
• 3Y*: 44.92%
• 5Y*: 22.80%
• 10Y*: 34.97%

DXQLX

• 1D: 4.37%
• 1M: 4.98%
• YTD: 33.20%
• 6M: 31.15%
• 1Y: 69.94%
• 3Y*: 41.20%
• 5Y*: 21.69%
• 10Y*: 35.84%

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

UOPIX vs. DXQLX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
UOPIX ProFunds UltraNASDAQ-100 Fund	38.91%	30.26%	41.75%	115.97%	-60.70%	48.28%	86.57%	80.53%	-9.41%	68.58%
DXQLX Direxion Monthly NASDAQ-100 Bull 1.75X Fund	33.20%	29.99%	39.26%	97.59%	-57.72%	55.98%	100.94%	79.36%	-81.54%	743.06%

Correlation

The correlation between UOPIX and DXQLX is 1.00 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	1.00
Correlation (3Y) Calculated over the trailing 3-year period	0.99
Correlation (5Y) Calculated over the trailing 5-year period	0.99
Correlation (10Y) Calculated over the trailing 10-year period	0.98
Correlation (All Time) Calculated using the full available price history since May 1, 2006	0.98

The correlation between UOPIX and DXQLX has been stable across timeframes, ranging from 0.98 to 1.00 - a consistent structural relationship.

Return for Risk

UOPIX vs. DXQLX — Risk / Return Rank

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

UOPIX

UOPIX Risk / Return Rank: 63
UOPIX Sharpe Ratio Rank: 75
UOPIX Sortino Ratio Rank: 51
UOPIX Omega Ratio Rank: 53
UOPIX Calmar Ratio Rank: 76
UOPIX Martin Ratio Rank: 60

DXQLX

DXQLX Risk / Return Rank: 61
DXQLX Sharpe Ratio Rank: 69
DXQLX Sortino Ratio Rank: 49
DXQLX Omega Ratio Rank: 52
DXQLX Calmar Ratio Rank: 73
DXQLX Martin Ratio Rank: 60

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.

UOPIX vs. DXQLX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProFunds UltraNASDAQ-100 Fund (UOPIX) and Direxion Monthly NASDAQ-100 Bull 1.75X Fund (DXQLX). 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.

	UOPIX	DXQLX	Difference
Sharpe ratio: Return per unit of total volatility	2.31	2.22	+0.09
Sortino ratio: Return per unit of downside risk	2.75	2.72	+0.03
Omega ratio: Gain probability vs. loss probability	1.37	1.36	0.00
Calmar ratio: Return relative to maximum drawdown	3.27	3.15	+0.12
Martin ratio: Return relative to average drawdown	11.24	11.23	0.00

UOPIX vs. DXQLX - Sharpe Ratio Comparison

The current UOPIX Sharpe Ratio is 2.31, which is comparable to the DXQLX Sharpe Ratio of 2.22. The chart below compares the historical Sharpe Ratios of UOPIX and DXQLX, 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

UOPIX vs. DXQLX - Drawdown Comparison

The maximum UOPIX drawdown since its inception was -99.00%, roughly equal to the maximum DXQLX drawdown of -96.04%. Use the drawdown chart below to compare losses from any high point for UOPIX and DXQLX.

Drawdown Indicators

	UOPIX	DXQLX	Difference
Max Drawdown Largest peak-to-trough decline	-99.00%	-96.04%	-2.96%
Max Drawdown (1Y) Largest decline over 1 year	-24.97%	-21.88%	-3.09%
Max Drawdown (3Y) Largest decline over 3 years	-42.52%	-37.99%	-4.53%
Max Drawdown (5Y) Largest decline over 5 years	-65.01%	-60.79%	-4.22%
Max Drawdown (10Y) Largest decline over 10 years	-65.01%	-87.23%	+22.22%
Current Drawdown Current decline from peak	-2.46%	-1.59%	-0.87%
Average Drawdown Average peak-to-trough decline	-67.60%	-51.49%	-16.11%
Ulcer Index Depth and duration of drawdowns from previous peaks	7.26%	6.13%	+1.13%

Volatility

UOPIX vs. DXQLX - Volatility Comparison

ProFunds UltraNASDAQ-100 Fund (UOPIX) has a higher volatility of 17.05% compared to Direxion Monthly NASDAQ-100 Bull 1.75X Fund (DXQLX) at 15.11%. This indicates that UOPIX's price experiences larger fluctuations and is considered to be riskier than DXQLX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	UOPIX	DXQLX	Difference
Volatility (1M) Calculated over the trailing 1-month period	17.05%	15.11%	+1.94%
Volatility (6M) Calculated over the trailing 6-month period	28.72%	25.22%	+3.50%
Volatility (1Y) Calculated over the trailing 1-year period	35.37%	31.07%	+4.30%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	45.58%	42.52%	+3.06%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	44.41%	138.77%	-94.36%

UOPIX vs. DXQLX - Expense Ratio Comparison

UOPIX has a 1.47% expense ratio, which is higher than DXQLX's 1.39% expense ratio.

Dividends

UOPIX vs. DXQLX - Dividend Comparison

UOPIX's dividend yield for the trailing twelve months is around 13.15%, more than DXQLX's 11.11% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
DXQLX Direxion Monthly NASDAQ-100 Bull 1.75X Fund	11.11%	14.50%	0.33%	0.00%	0.00%	11.75%	10.90%	3.37%	7.37%	5.72%
UOPIX ProFunds UltraNASDAQ-100 Fund	13.15%	18.27%	0.41%	0.00%	5.64%	11.03%	9.78%	5.78%	6.73%	0.00%

Frequently Asked Questions

Can I hold both UOPIX and DXQLX in my portfolio?

With a correlation of 1.00, UOPIX and DXQLX 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, UOPIX or DXQLX?

UOPIX has higher volatility (17.05%) compared to DXQLX (15.11%). In terms of maximum drawdown, UOPIX dropped -99.00% vs DXQLX's -96.04%.

Which has better risk-adjusted returns?

UOPIX currently has the higher Sharpe Ratio (2.31 vs 2.22), 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.