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A thorough search for Ultraluminous X-ray source candidates within the LocalVolume is made. The search spatially matches potential ULXs detected in X-rayimages or cataloged in the literature with galaxies tabulated in the Catalog ofNeighboring Galaxies compiled by Karachentsev et al. (2004). The specific ULXfrequency (occurrence rate per unit galaxy mass) is found to be a decreasingfunction of host galaxy mass for host masses above $\sim10^{8.5}$ solar mass.There is too little mass in galaxies below this point to determine if thistrend continues to lower galaxy mass. No ULXs have yet been detected inlower-mass galaxies. Systematic differences between dwarf and giant galaxiesthat may explain an abundance of ULXs in dwarf galaxies and what they may implyabout the nature of ULXs are discussed.

Do Ultraluminous X-Ray Sources Exist in Dwarf Galaxies?