UWM vs. DXRLX

Last updated Jun 4, 2026

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 12.16%/yr vs 12.74%/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

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares Ultra Russell2000 (UWM) and Direxion Monthly Small Cap Bull 1.75X Fund (DXRLX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with UWM having a 31.87% return and DXRLX slightly lower at 30.58%. Both investments have delivered pretty close results over the past 10 years, with UWM having a 12.16% annualized return and DXRLX not far ahead at 12.74%.

UWM

• 1D: -2.69%
• 1M: 6.41%
• YTD: 31.87%
• 6M: 28.56%
• 1Y: 76.77%
• 3Y*: 25.03%
• 5Y*: 1.71%
• 10Y*: 12.16%

DXRLX

• 1D: 1.58%
• 1M: 8.33%
• YTD: 30.58%
• 6M: 27.67%
• 1Y: 70.57%
• 3Y*: 23.98%
• 5Y*: 2.80%
• 10Y*: 12.74%

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

UWM vs. DXRLX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
UWM ProShares Ultra Russell2000	31.87%	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	30.58%	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	0.99
Correlation (10Y) Calculated over the trailing 10-year period	0.99
Correlation (All Time) Calculated using the full available price history since Jan 26, 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.

Return for Risk

UWM vs. DXRLX — Risk / Return Rank

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

UWM

UWM Risk / Return Rank: 59
UWM Sharpe Ratio Rank: 60
UWM Sortino Ratio Rank: 54
UWM Omega Ratio Rank: 49
UWM Calmar Ratio Rank: 69
UWM Martin Ratio Rank: 65

DXRLX

DXRLX Risk / Return Rank: 60
DXRLX Sharpe Ratio Rank: 59
DXRLX Sortino Ratio Rank: 47
DXRLX Omega Ratio Rank: 41
DXRLX Calmar Ratio Rank: 84
DXRLX Martin Ratio Rank: 72

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.

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.

	UWM	DXRLX	Difference
Sharpe ratio: Return per unit of total volatility	2.03	2.26	-0.23
Sortino ratio: Return per unit of downside risk	2.63	2.90	-0.27
Omega ratio: Gain probability vs. loss probability	1.31	1.35	-0.04
Calmar ratio: Return relative to maximum drawdown	3.46	3.91	-0.44
Martin ratio: Return relative to average drawdown	11.85	13.74	-1.89
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

UWM vs. DXRLX - Sharpe Ratio Comparison

The current UWM Sharpe Ratio is 2.03, which is comparable to the DXRLX Sharpe Ratio of 2.26. The chart below compares the historical Sharpe Ratios of UWM and DXRLX, 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

	UWM	DXRLX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.03	2.26	-0.23
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.04	0.07	-0.03
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.26	0.26	0.00
Sharpe Ratio (All Time) Calculated using the full available price history	0.14	0.05	+0.09

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.

Drawdown Indicators

	UWM	DXRLX	Difference
Max Drawdown Largest 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 Drawdown Current decline from peak	-3.55%	-0.26%	-3.29%
Average Drawdown Average peak-to-trough decline	-30.88%	-34.61%	+3.73%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.50%	5.50%	+1.00%

Volatility

UWM vs. DXRLX - Volatility Comparison

ProShares Ultra Russell2000 (UWM) has a higher volatility of 11.45% compared to Direxion Monthly Small Cap Bull 1.75X Fund (DXRLX) at 9.70%. 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.

Volatility by Period

	UWM	DXRLX	Difference
Volatility (1M) Calculated over the trailing 1-month period	11.45%	9.70%	+1.75%
Volatility (6M) Calculated over the trailing 6-month period	26.82%	23.73%	+3.09%
Volatility (1Y) Calculated over the trailing 1-year period	38.04%	33.42%	+4.62%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	45.01%	41.63%	+3.38%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	46.08%	49.20%	-3.12%

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 0.78%, less than DXRLX's 1.59% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DXRLX Direxion Monthly Small Cap Bull 1.75X Fund	1.59%	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	0.78%	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

Can I hold both UWM and DXRLX in my portfolio?

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.

Which is riskier, UWM or DXRLX?

UWM has higher volatility (11.45%) compared to DXRLX (9.70%). In terms of maximum drawdown, UWM dropped -88.21% vs DXRLX's -94.32%.

Which has better risk-adjusted returns?

DXRLX currently has the higher Sharpe Ratio (2.26 vs 2.03), 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.