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EDC vs UDOW

Direxion Daily MSCI Emerging Markets Bull 3X Shares

EDCDNYSE Arca

ProShares UltraPro Dow30

UDOWANYSE Arca

Overlap

Expense ratio

UDOW −0.15pt a year

EDC1.09%UDOW0.94%

Avg volume · 30D

UDOW 20.7×the volume

EDC83.1KUDOW1.72M

10Y return · a year

UDOW +21.7pt

EDC+0.6%UDOW+22.3%

EDC vs UDOW Performance

Oct 29, 2021 – Oct 30, 2026

−20.9%EDC+66.5%UDOW

Oct 29, 2021 to Oct 30, 2026. EDC −20.9%. UDOW +66.5%. Use the arrow keys to read each point.−50%0%100%Oct 2021Apr 2024Oct 2026
Expense ratio
EDC 1.09%
UDOW 0.94%, better
Fund size
EDC $129M
UDOW $841M
1Y total return
EDC +4.8%
UDOW +16.0%, better
Yield (12M)
EDC 1.91%, better
UDOW 1.06%
Holdings
EDC 10
UDOW 33
Avg volume (30D)
EDC 83.1K sh
UDOW 1.72M sh, better
NAV per share
EDC $62.19
UDOW $65.43
52W range

ETF.net Grade

EDC: Cost 10, Risk 46, Mission not scored, Tradability 37, Holdings not scored, Durability 51. UDOW: Cost 78, Risk 85, Mission 77, Tradability 89, Holdings 56, Durability 71.
Pillar letters and Scores for EDC, UDOW, with each pillar’s weight
PillarEDCUDOW
Cost30% weightF10A78Higher
Mission25% weightNot scoredA77
Risk15% weightC46A85Higher
Tradability15% weightD37A89Higher
Holdings10% weightNot scoredB56
Durability5% weightC51A71Higher

Rank among 3x Leveraged Long funds

How we build Categories ›
Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

Same Category. EDC and UDOW are both graded against the same 30 3x Leveraged Long funds, so their Grades compare head to head.

3x Leveraged Long⁠

Category · 30 funds
See all 30 ›

UDOW ranks 2nd and EDC 26th of 30 funds in the 3x Leveraged Long Category.

  1. Rank 1ATQQQProShares UltraPro QQQScore 86
  2. Rank 2AUDOWProShares UltraPro Dow30Score 81
  3. Rank 3AFASDirexion Daily Financial Bull 3X ETFScore 80
  4. Rank 24DTYDDirexion Daily 7-10 Year Treasury Bull 3X ETFScore 32
  5. Rank 26DEDCDirexion Daily MSCI Emerging Markets Bull 3X SharesScore 27
  6. Rank 26DWANTDirexion Daily Consumer Discretionary Bull 3X ETFScore 27

Our read on each fund

ETF.net Research

EDCDDirexion Daily MSCI Emerging Markets Bull 3X Shares

UDOWAProShares UltraPro Dow30

In short

EDC The 3x aisle is mostly a bet on US indexes. EDC points the same daily leverage at the MSCI Emerging Markets Index, and has been doing it since 2008, through every emerging-market boom and bust since.

UDOW The only 3x daily play on the Dow: 30 blue-chip names, price-weighted, reset every session. It is the industrial cousin of the semis-and-Nasdaq crowd that fills the leveraged aisle, and it has run since 2010.

Stated mandate

EDC The fund seeks daily investment results, before fees and expenses, equal to 300% of the performance of the MSCI Emerging Markets Index.

UDOW The Fund seeks daily results equal to three times the daily performance of the Dow Jones Industrial Average before fees and expenses. It uses equity securities, derivatives, and money-market instruments to pursue that daily leveraged exposure.

Why people hold it

  • EDC Rare mandate: 3x daily exposure to broad emerging markets in one ticker, while the category's headline names (TQQQ, UDOW, FAS) all aim at US indexes.
  • Trading since December 2008, with a mirror-image bear fund (EDZ) on the same index for traders who want the other side of the move.direxion.com
  • Mechanics are spelled out: at least 80% of net assets in swaps and other instruments tied to the index, reset daily, with distributions paid quarterly.direxion.com
  • UDOW ProShares calls UDOW the only ETF targeting 3x the daily move of the Dow. In a 3x aisle crowded with semiconductor and Nasdaq bets, the blue-chip index has exactly one lever.proshares.com
  • The Dow is a price-weighted measure of 30 US blue chips, so the exposure leans industrials, financials and health care instead of megacap tech.spglobal.com
  • Trading since 2010, it has run through several full market cycles and stays actively traded, which matters when the holding period is hours rather than years.
  • Among the stronger implementations in its 3x bull peer group, it stays close to its stated daily target and trades with the depth short-horizon traders look for.

Worth knowing

  • EDC The 3x target applies to a single day. Held longer, compounding takes over, and a choppy index can leave the fund far from 3x the period's move.direxion.com
  • 1.09% net of a waiver through September 1, 2027 (1.12% gross) sits above the category median; US-focused SOXL charges 0.75% net of a waiver to the same date.
  • Smaller and less heavily traded than the category's US-index giants, and its underlying markets are shut during much of the US session, so spreads and overnight gaps matter.
  • UDOW The 3x target resets every day. Over longer stretches, compounding and volatility can push results away from 3x the index move, as the prospectus spells out.proshares.com
  • At 0.94% with no waiver propping it up, cost sits near the typical 3x bull fund; TQQQ charges 0.78% net of a waiver through September 30, 2027.
  • Exposure is built with derivatives and cash instruments alongside stocks, so counterparty and derivative risk ride along with the market call.proshares.com

Full EDC profile⁠

Full UDOW profile⁠

EDC vs UDOW Holdings

How we measure overlap

Each holding counts at its smaller weight in the two funds, summed over the full Holdings. Sector, country and asset class use the same rule on each fund’s split. Cash, FX and derivative lines stay out of the counts. Two bond funds get no overlap figure.

EDC vs UDOW Cost

Overpaying EDC vs UDOW

$2,429

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

  • EDC 1.09%

    $20,133

  • UDOW 0.94%

    $17,704

$10,000
30 years

Cost over time

  • EDC 1.09%
  • UDOW 0.94%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$5K$10K$15K$20K$25K051015202530EDC $20,133UDOW $17,704

Year by year

YearEDCUDOWOverpaying
10$1,915$1,661$254
20$7,166$6,260$906
30$20,133$17,704$2,429

Expense ratio

  • 1.09%EDC
  • 0.94%UDOW, cheaper
  • Middle half of 3x Leveraged Long funds
  • Median 0.96%

UDOW 7th cheapest of 30 funds

EDC 27th cheapest of 30 funds

EDC vs UDOW Dividends

Last 12 months to Oct 30, 2026
Yield (12M)
EDC 1.91%, better
UDOW 1.06%
Payout (12M)
EDC $1.10
UDOW $0.69
Last payment
EDC $0.22
UDOW $0.15
Ex-dividend
EDC Sep 22, 2026
UDOW Sep 23, 2026
Paid on
EDC Sep 29, 2026
UDOW Sep 29, 2026
Frequency
EDC Quarterly
UDOW Quarterly

Distribution history

Per share, 2017 to 2026, same scale for both

EDCQuarterly · 26 paymentsAll EDC payments⁠
One bar per payment. 26 payments from 2017 to 2026 YTD. Dec 19, 2017 $0.32; Mar 20, 2018 $0.47; Dec 27, 2018 $0.02; Mar 19, 2019 $0.52; Jun 25, 2019 $0.29; Sep 24, 2019 $0.04; Dec 23, 2019 $0.01; Mar 24, 2020 $0.39; Jun 23, 2020 $0.02; Mar 23, 2021 $0.08; Jun 22, 2021 $0.05; Mar 21, 2023 $0.34; Jun 21, 2023 $0.30; Sep 19, 2023 $0.30; Dec 21, 2023 $0.14; Mar 19, 2024 $0.47; Jun 25, 2024 $0.29; Sep 24, 2024 $0.25; Dec 23, 2024 $0.13; Mar 25, 2025 $0.44; Jun 24, 2025 $0.25; Sep 23, 2025 $0.20; Dec 23, 2025 $0.10; Mar 24, 2026 $0.38; Jun 23, 2026 $0.40; Sep 22, 2026 $0.22. Use the arrow keys to read each point.$0$0.502017202020232026YTD
UDOWQuarterly · 15 paymentsAll UDOW payments⁠
One bar per payment. 15 payments from 2017 to 2026 YTD. Mar 22, 2017 $0.007; Dec 26, 2017 $0.02; Dec 24, 2019 $0.07; Dec 23, 2020 $0.03; Dec 22, 2022 $0.09; Mar 20, 2024 $0.07; Jun 26, 2024 $0.16; Dec 23, 2024 $0.07; Mar 26, 2025 $0.16; Jun 25, 2025 $0.22; Sep 24, 2025 $0.23; Dec 24, 2025 $0.20; Mar 25, 2026 $0.14; Jun 24, 2026 $0.21; Sep 23, 2026 $0.15. Use the arrow keys to read each point.$0$0.502017202020232026YTD

EDC vs UDOW Risk

Fall from peak · 5 years

  • EDC
  • UDOW
Oct 29, 2021 to Oct 30, 2026. Worst fall: EDC −75.5% · Oct 2022. Use the arrow keys to read each point.−80%−60%−40%−20%0%Oct 2021Apr 2024Oct 2026

Risk facts

VolatilityStd dev, 3 years
EDC 49.5%UDOW 37.2%, better
Return per unit of riskSharpe ratio, 3 years
EDC 0.84UDOW 0.95, better
Worst fallMax drawdown, 5 years
EDC −75.5%UDOW −56.0%, better
Market sensitivityBeta, 5 years
EDC 2.56UDOW 2.62

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