UWM vs. DXRLX
UWM (ProShares Ultra Russell2000) and DXRLX (Direxion Monthly Small Cap Bull 1.75X Fund) are both Leveraged Equities funds. Over the past 10 years, UWM returned 13.44%/yr vs 13.93%/yr for DXRLX. With a 0.98 correlation, they move nearly in lockstep. UWM charges 0.95%/yr vs 1.35%/yr for DXRLX.
Performance
UWM vs. DXRLX - Performance Comparison
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Returns By Period
In the year-to-date period, UWM achieves a 38.71% return, which is significantly higher than DXRLX's 35.99% return. Both investments have delivered pretty close results over the past 10 years, with UWM having a 13.44% annualized return and DXRLX not far ahead at 13.93%.
UWM
- 1D
- -1.93%
- 1M
- 6.86%
- YTD
- 38.71%
- 6M
- 32.01%
- 1Y
- 81.03%
- 3Y*
- 27.92%
- 5Y*
- 1.93%
- 10Y*
- 13.44%
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%
UWM vs. DXRLX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
UWM ProShares Ultra Russell2000 | 38.71% | 13.59% | 11.32% | 22.62% | -43.69% | 23.91% | 16.57% | 48.62% | -25.89% | 26.92% |
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 UWM and DXRLX 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 | 1.00 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.99 |
Correlation (All Time) Calculated using the full available price history since Jan 25, 2007 | 0.98 |
The correlation between UWM and DXRLX has been stable across timeframes, ranging from 0.98 to 1.00 - a consistent structural relationship.
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Return for Risk
UWM vs. DXRLX — Risk / Return Rank
UWM
DXRLX
UWM vs. DXRLX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares Ultra Russell2000 (UWM) 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.
| UWM | DXRLX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.16 | ||
| Sortino ratioReturn per unit of downside risk | -0.20 | ||
| Omega ratioGain probability vs. loss probability | 1.31 | 1.34 | -0.03 |
| Calmar ratioReturn relative to maximum drawdown | 3.66 | 3.99 | -0.34 |
| Martin ratioReturn relative to average drawdown | 12.47 | 14.00 | -1.53 |
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Drawdowns
UWM vs. DXRLX - Drawdown Comparison
The maximum UWM drawdown since its inception was -88.21%, smaller than the maximum DXRLX drawdown of -94.32%. Use the drawdown chart below to compare losses from any high point for UWM and DXRLX.
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Drawdown Indicators
| UWM | DXRLX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -88.21% | -94.32% | +6.11% |
Max Drawdown (1Y)Largest decline over 1 year | -22.28% | -19.38% | -2.90% |
Max Drawdown (3Y)Largest decline over 3 years | -49.79% | -45.58% | -4.21% |
Max Drawdown (5Y)Largest decline over 5 years | -61.62% | -57.64% | -3.98% |
Max Drawdown (10Y)Largest decline over 10 years | -71.46% | -77.63% | +6.17% |
Current DrawdownCurrent decline from peak | -1.93% | 0.00% | -1.93% |
Average DrawdownAverage peak-to-trough decline | -30.80% | -34.54% | +3.74% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.52% | 5.52% | +1.00% |
Volatility
UWM vs. DXRLX - Volatility Comparison
ProShares Ultra Russell2000 (UWM) has a higher volatility of 13.03% compared to Direxion Monthly Small Cap Bull 1.75X Fund (DXRLX) at 11.27%. This indicates that UWM's price experiences larger fluctuations and is considered to be riskier than DXRLX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| UWM | DXRLX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 13.03% | 11.27% | +1.76% |
Volatility (6M)Calculated over the trailing 6-month period | 28.39% | 25.06% | +3.33% |
Volatility (1Y)Calculated over the trailing 1-year period | 39.12% | 34.52% | +4.60% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 45.16% | 41.74% | +3.42% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 46.13% | 49.27% | -3.14% |
UWM vs. DXRLX - Expense Ratio Comparison
UWM has a 0.95% expense ratio, which is lower than DXRLX's 1.35% expense ratio.
Dividends
UWM vs. DXRLX - Dividend Comparison
UWM's dividend yield for the trailing twelve months is around 0.74%, less than DXRLX's 1.53% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% | 0.00% | 0.00% | 0.00% |
UWM ProShares Ultra Russell2000 | 0.74% | 1.05% | 1.16% | 0.34% | 0.40% | 0.00% | 0.07% | 0.55% | 0.41% | 0.11% | 0.27% | 0.23% |
Frequently Asked Questions
With a correlation of 1.00, UWM and DXRLX 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.
UWM has higher volatility (13.03%) compared to DXRLX (11.27%). In terms of maximum drawdown, UWM dropped -88.21% vs DXRLX's -94.32%.
DXRLX currently has the higher Sharpe Ratio (2.25 vs 2.09), 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.
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