UYG vs. TSMX

Last updated Apr 1, 2026

Compare and contrast key facts about ProShares Ultra Financials (UYG) and Direxion Daily TSM Bull 2X Shares (TSMX).

UYG and TSMX are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. UYG is a passively managed fund by ProShares that tracks the performance of the Dow Jones U.S. Financials Index (200%). It was launched on Jan 30, 2007. TSMX is an actively managed fund by Direxion. It was launched on Oct 3, 2024.

Performance

UYG vs. TSMX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares Ultra Financials (UYG) and Direxion Daily TSM Bull 2X Shares (TSMX). The values are adjusted to include any dividend payments, if applicable.

UYG vs. TSMX - Yearly Performance Comparison

	2026 (YTD)	2025	2024
UYG ProShares Ultra Financials	-19.79%	19.77%	14.07%
TSMX Direxion Daily TSM Bull 2X Shares	16.15%	81.48%	14.76%

Returns By Period

In the year-to-date period, UYG achieves a -19.79% return, which is significantly lower than TSMX's 16.15% return.

UYG

• 1D: 4.23%
• 1M: -7.23%
• YTD: -19.79%
• 6M: -17.96%
• 1Y: -8.20%
• 3Y*: 25.33%
• 5Y*: 11.21%
• 10Y*: 16.07%

TSMX

• 1D: 13.81%
• 1M: -20.58%
• YTD: 16.15%
• 6M: 30.27%
• 1Y: 227.40%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

UYG vs. TSMX - Expense Ratio Comparison

UYG has a 0.95% expense ratio, which is lower than TSMX's 1.05% expense ratio.

TSMX

Direxion Daily TSM Bull 2X Shares

UYG

ProShares Ultra Financials

Return for Risk

UYG vs. TSMX — Risk / Return Rank

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

UYG

UYG Risk / Return Rank: 9
UYG Sharpe Ratio Rank: 8
UYG Sortino Ratio Rank: 9
UYG Omega Ratio Rank: 9
UYG Calmar Ratio Rank: 9
UYG Martin Ratio Rank: 8

TSMX

TSMX Risk / Return Rank: 96
TSMX Sharpe Ratio Rank: 97
TSMX Sortino Ratio Rank: 95
TSMX Omega Ratio Rank: 91
TSMX Calmar Ratio Rank: 98
TSMX Martin Ratio Rank: 97

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.

UYG vs. TSMX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares Ultra Financials (UYG) and Direxion Daily TSM Bull 2X Shares (TSMX). 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.

	UYG	TSMX	Difference
Sharpe ratio Return per unit of total volatility	-0.21	2.95	-3.17
Sortino ratio Return per unit of downside risk	-0.04	3.08	-3.12
Omega ratio Gain probability vs. loss probability	0.99	1.39	-0.39
Calmar ratio Return relative to maximum drawdown	-0.20	6.59	-6.79
Martin ratio Return relative to average drawdown	-0.58	20.50	-21.08
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

UYG vs. TSMX - Sharpe Ratio Comparison

The current UYG Sharpe Ratio is -0.21, which is lower than the TSMX Sharpe Ratio of 2.95. The chart below compares the historical Sharpe Ratios of UYG and TSMX, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	UYG	TSMX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.21	2.95	-3.17
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.31	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.39	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.01	1.01	-1.02

Correlation

The correlation between UYG and TSMX is 0.22, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

UYG vs. TSMX - Dividend Comparison

UYG's dividend yield for the trailing twelve months is around 14.56%, more than TSMX's 7.11% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
UYG ProShares Ultra Financials	14.56%	11.72%	0.51%	0.79%	0.77%	9.39%	0.66%	0.90%	1.28%	0.56%	0.76%	0.72%
TSMX Direxion Daily TSM Bull 2X Shares	7.11%	8.01%	0.53%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Drawdowns

UYG vs. TSMX - Drawdown Comparison

The maximum UYG drawdown since its inception was -97.90%, which is greater than TSMX's maximum drawdown of -63.80%. Use the drawdown chart below to compare losses from any high point for UYG and TSMX.

Drawdown Indicators

	UYG	TSMX	Difference
Max Drawdown Largest peak-to-trough decline	-97.90%	-63.80%	-34.10%
Max Drawdown (1Y) Largest decline over 1 year	-28.91%	-34.93%	+6.02%
Max Drawdown (5Y) Largest decline over 5 years	-47.77%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-69.98%	—	—
Current Drawdown Current decline from peak	-24.25%	-25.94%	+1.69%
Average Drawdown Average peak-to-trough decline	-63.78%	-16.74%	-47.04%
Ulcer Index Depth and duration of drawdowns from previous peaks	10.08%	11.22%	-1.14%

Volatility

UYG vs. TSMX - Volatility Comparison

The current volatility for ProShares Ultra Financials (UYG) is 9.55%, while Direxion Daily TSM Bull 2X Shares (TSMX) has a volatility of 29.06%. This indicates that UYG experiences smaller price fluctuations and is considered to be less risky than TSMX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	UYG	TSMX	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.55%	29.06%	-19.51%
Volatility (6M) Calculated over the trailing 6-month period	23.04%	54.61%	-31.57%
Volatility (1Y) Calculated over the trailing 1-year period	38.69%	77.49%	-38.80%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	36.17%	81.26%	-45.09%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	41.08%	81.26%	-40.18%