WEBL vs. UMDD

Last updated Jul 22, 2026

WEBL (Daily Dow Jones Internet Bull 3X Shares) and UMDD (ProShares UltraPro MidCap400) are both Leveraged Equities funds - WEBL tracks the Dow Jones Internet Composite Index (300%) while UMDD tracks the S&P MidCap 400 Index (300%). Both are passively managed. Over the past 5 years, WEBL returned -22.59%/yr vs 4.51%/yr for UMDD. A 0.64 correlation means they provide meaningful diversification when combined. WEBL charges 1.17%/yr vs 0.95%/yr for UMDD.

Performance

WEBL vs. UMDD - Performance Comparison

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

Returns By Period

In the year-to-date period, WEBL achieves a -11.51% return, which is significantly lower than UMDD's 38.51% return.

WEBL

• 1D: -0.86%
• 1M: 3.14%
• 6M: 4.09%
• YTD: -11.51%
• 1Y: -19.70%
• 3Y*: 25.10%
• 5Y*: -22.59%
• 10Y*: —
• ALL TIME*: 0.07%

UMDD

• 1D: 3.00%
• 1M: -1.43%
• 6M: 22.31%
• YTD: 38.51%
• 1Y: 50.43%
• 3Y*: 17.74%
• 5Y*: 4.51%
• 10Y*: 11.03%
• ALL TIME*: 19.40%

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

WEBL vs. UMDD - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
WEBL Daily Dow Jones Internet Bull 3X Shares	-11.51%	2.37%	76.78%	165.50%	-91.04%	2.73%	132.56%	10.36%
UMDD ProShares UltraPro MidCap400	38.51%	-2.57%	19.68%	27.21%	-49.60%	72.27%	-17.30%	11.55%

Correlation

The correlation between WEBL and UMDD is 0.44, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.44
Correlation (3Y) Calculated over the trailing 3-year period	0.59
Correlation (5Y) Calculated over the trailing 5-year period	0.68
Correlation (All Time) Calculated using the full available price history since Nov 7, 2019	0.64

The correlation between WEBL and UMDD shifts across timeframes, from 0.44 (1 year) to 0.68 (5 years), reflecting how their relationship changes across market environments.

WEBL vs. UMDD - Sectors Allocation Comparison

Sectors	WEBL	UMDD
Technology	8.5%	17.2%
Communication Services	5.0%	1.5%
Consumer Cyclical	4.1%	10.5%
Financial Services	0.4%	13.9%
Healthcare	0.2%	9.0%
Industrials	0.2%	25.3%
Basic Materials	-	4.8%
Consumer Defensive	-	3.2%
Energy	-	4.6%
Real Estate	-	7.2%
Utilities	-	2.9%

Return for Risk

WEBL vs. UMDD — Risk / Return Rank

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

WEBL

WEBL Risk / Return Rank: 7
WEBL Sharpe Ratio Rank: 7
WEBL Sortino Ratio Rank: 8
WEBL Omega Ratio Rank: 8
WEBL Calmar Ratio Rank: 7
WEBL Martin Ratio Rank: 7

UMDD

UMDD Risk / Return Rank: 45
UMDD Sharpe Ratio Rank: 39
UMDD Sortino Ratio Rank: 43
UMDD Omega Ratio Rank: 39
UMDD Calmar Ratio Rank: 51
UMDD Martin Ratio Rank: 51

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.

WEBL vs. UMDD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Daily Dow Jones Internet Bull 3X Shares (WEBL) and ProShares UltraPro MidCap400 (UMDD). 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.

	WEBL	UMDD	Difference
Sharpe ratio: Return per unit of total volatility	-0.33	1.07	-1.41
Sortino ratio: Return per unit of downside risk	-0.10	1.69	-1.79
Omega ratio: Gain probability vs. loss probability	0.99	1.20	-0.21
Calmar ratio: Return relative to maximum drawdown	-0.35	1.95	-2.30
Martin ratio: Return relative to average drawdown	-0.70	6.43	-7.13

WEBL vs. UMDD - Sharpe Ratio Comparison

The current WEBL Sharpe Ratio is -0.33, which is lower than the UMDD Sharpe Ratio of 1.07. The chart below compares the historical Sharpe Ratios of WEBL and UMDD, 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

WEBL vs. UMDD - Drawdown Comparison

The maximum WEBL drawdown since its inception was -94.44%, which is greater than UMDD's maximum drawdown of -86.24%. Use the drawdown chart below to compare losses from any high point for WEBL and UMDD.

Drawdown Indicators

	WEBL	UMDD	Difference
Max Drawdown Largest peak-to-trough decline	-94.44%	-86.24%	-8.20%
Max Drawdown (1Y) Largest decline over 1 year	-56.57%	-26.04%	-30.53%
Max Drawdown (3Y) Largest decline over 3 years	-60.82%	-60.33%	-0.49%
Max Drawdown (5Y) Largest decline over 5 years	-94.44%	-64.61%	-29.83%
Max Drawdown (10Y) Largest decline over 10 years	—	-86.24%	—
Current Drawdown Current decline from peak	-73.95%	-5.90%	-68.05%
Average Drawdown Average peak-to-trough decline	-59.13%	-23.46%	-35.67%
Ulcer Index Depth and duration of drawdowns from previous peaks	28.27%	7.87%	+20.40%

Volatility

WEBL vs. UMDD - Volatility Comparison

Daily Dow Jones Internet Bull 3X Shares (WEBL) has a higher volatility of 15.82% compared to ProShares UltraPro MidCap400 (UMDD) at 10.22%. This indicates that WEBL's price experiences larger fluctuations and is considered to be riskier than UMDD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	WEBL	UMDD	Difference
Volatility (1M) Calculated over the trailing 1-month period	15.82%	10.22%	+5.60%
Volatility (6M) Calculated over the trailing 6-month period	47.69%	35.30%	+12.39%
Volatility (1Y) Calculated over the trailing 1-year period	59.30%	47.25%	+12.05%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	81.11%	58.69%	+22.42%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	82.56%	62.10%	+20.46%

WEBL vs. UMDD - Expense Ratio Comparison

WEBL has a 1.17% expense ratio, which is higher than UMDD's 0.95% expense ratio.

Dividends

WEBL vs. UMDD - Dividend Comparison

WEBL's dividend yield for the trailing twelve months is around 0.18%, less than UMDD's 0.67% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
UMDD ProShares UltraPro MidCap400	0.67%	1.00%	0.76%	0.19%	0.49%	0.06%	0.08%	0.64%	0.32%	0.00%	0.03%	0.06%
WEBL Daily Dow Jones Internet Bull 3X Shares	0.18%	0.25%	0.00%	0.00%	0.00%	4.79%	0.00%	0.06%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both WEBL and UMDD in my portfolio?

WEBL and UMDD have a correlation of 0.44, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, WEBL or UMDD?

WEBL has higher volatility (15.82%) compared to UMDD (10.22%). In terms of maximum drawdown, WEBL dropped -94.44% vs UMDD's -86.24%.

Which ETF is better, WEBL or UMDD?

On 5-year performance, UMDD leads with 4.51% vs -22.59% for WEBL. On fees, UMDD is cheaper at 0.95% per year. On volatility, UMDD has been the lower-risk option at 10.22%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, WEBL or UMDD?

Over the 5-year period, UMDD has performed better with a 4.51% return vs -22.59%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, WEBL or UMDD?

UMDD is cheaper with a 0.95% expense ratio, compared with 1.17% for WEBL.

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

UMDD has the higher dividend yield at 0.67%, compared with 0.18% for WEBL.

What is the main difference between WEBL and UMDD?

WEBL tracks Dow Jones Internet Composite Index (300%), while UMDD tracks S&P MidCap 400 Index (300%). They also come from different issuers: Direxion and ProShares. Their fees differ too: 1.17% for WEBL and 0.95% for UMDD.

Which has better risk-adjusted returns?

UMDD currently has the higher Sharpe Ratio (1.07 vs -0.33), 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.