DUSL vs. UTSL

Last updated Jun 23, 2026

DUSL (Direxion Daily Industrials Bull 3X Shares) and UTSL (Direxion Daily Utilities Bull 3X Shares) are both Leveraged Equities funds from Direxion - DUSL tracks the Industrials Select Sector Index (300%) while UTSL tracks the Utilities Select Sector Index (300%). Both are passively managed. Over the past 5 years, DUSL returned 23.43%/yr vs 11.70%/yr for UTSL. At a 0.38 correlation, their price movements are largely independent. DUSL charges 1.01%/yr vs 0.99%/yr for UTSL.

Performance

DUSL vs. UTSL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Direxion Daily Industrials Bull 3X Shares (DUSL) and Direxion Daily Utilities Bull 3X Shares (UTSL). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, DUSL achieves a 47.77% return, which is significantly higher than UTSL's 9.35% return.

DUSL

• 1D: 2.09%
• 1M: 17.20%
• YTD: 47.77%
• 6M: 42.19%
• 1Y: 83.00%
• 3Y*: 51.16%
• 5Y*: 23.43%
• 10Y*: —

UTSL

• 1D: 1.45%
• 1M: -3.88%
• YTD: 9.35%
• 6M: 10.65%
• 1Y: 26.72%
• 3Y*: 23.46%
• 5Y*: 11.70%
• 10Y*: —

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

DUSL vs. UTSL - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
DUSL Direxion Daily Industrials Bull 3X Shares	47.77%	37.50%	34.75%	37.23%	-31.17%	60.72%	-19.77%	90.70%	-46.28%	47.58%
UTSL Direxion Daily Utilities Bull 3X Shares	9.35%	29.03%	54.24%	-35.55%	-14.06%	48.16%	-38.58%	81.07%	-2.27%	11.00%

Correlation

The correlation between DUSL and UTSL is 0.36, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.36
Correlation (3Y) Calculated over the trailing 3-year period	0.39
Correlation (5Y) Calculated over the trailing 5-year period	0.45
Correlation (All Time) Calculated using the full available price history since May 3, 2017	0.38

DUSL vs. UTSL - Sectors Allocation Comparison

Sectors	DUSL	UTSL
Industrials	18.7%	-
Utilities	0.9%	100.0%
Technology	0.8%	-
Consumer Cyclical	0.1%	-
Basic Materials	-	-
Communication Services	-	-
Consumer Defensive	-	-
Energy	-	-
Financial Services	-	-
Healthcare	-	-
Real Estate	-	-

Return for Risk

DUSL vs. UTSL — Risk / Return Rank

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

DUSL

DUSL Risk / Return Rank: 48
DUSL Sharpe Ratio Rank: 51
DUSL Sortino Ratio Rank: 46
DUSL Omega Ratio Rank: 43
DUSL Calmar Ratio Rank: 52
DUSL Martin Ratio Rank: 50

UTSL

UTSL Risk / Return Rank: 19
UTSL Sharpe Ratio Rank: 19
UTSL Sortino Ratio Rank: 20
UTSL Omega Ratio Rank: 19
UTSL Calmar Ratio Rank: 21
UTSL Martin Ratio Rank: 18

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.

DUSL vs. UTSL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Direxion Daily Industrials Bull 3X Shares (DUSL) and Direxion Daily Utilities Bull 3X Shares (UTSL). 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.

	DUSL	UTSL	Difference
Sharpe ratio: Return per unit of total volatility	1.69	0.61	+1.08
Sortino ratio: Return per unit of downside risk	2.24	1.06	+1.18
Omega ratio: Gain probability vs. loss probability	1.27	1.13	+0.14
Calmar ratio: Return relative to maximum drawdown	2.48	0.94	+1.53
Martin ratio: Return relative to average drawdown	8.14	1.89	+6.25

DUSL vs. UTSL - Sharpe Ratio Comparison

The current DUSL Sharpe Ratio is 1.69, which is higher than the UTSL Sharpe Ratio of 0.61. The chart below compares the historical Sharpe Ratios of DUSL and UTSL, 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

DUSL vs. UTSL - Drawdown Comparison

The maximum DUSL drawdown since its inception was -85.74%, which is greater than UTSL's maximum drawdown of -79.55%. Use the drawdown chart below to compare losses from any high point for DUSL and UTSL.

Drawdown Indicators

	DUSL	UTSL	Difference
Max Drawdown Largest peak-to-trough decline	-85.74%	-79.55%	-6.19%
Max Drawdown (1Y) Largest decline over 1 year	-33.68%	-28.45%	-5.23%
Max Drawdown (3Y) Largest decline over 3 years	-50.86%	-46.22%	-4.64%
Max Drawdown (5Y) Largest decline over 5 years	-58.43%	-68.01%	+9.58%
Current Drawdown Current decline from peak	-0.94%	-19.48%	+18.54%
Average Drawdown Average peak-to-trough decline	-21.92%	-33.16%	+11.24%
Ulcer Index Depth and duration of drawdowns from previous peaks	10.23%	14.15%	-3.92%

Volatility

DUSL vs. UTSL - Volatility Comparison

Direxion Daily Industrials Bull 3X Shares (DUSL) has a higher volatility of 17.61% compared to Direxion Daily Utilities Bull 3X Shares (UTSL) at 15.89%. This indicates that DUSL's price experiences larger fluctuations and is considered to be riskier than UTSL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DUSL	UTSL	Difference
Volatility (1M) Calculated over the trailing 1-month period	17.61%	15.89%	+1.72%
Volatility (6M) Calculated over the trailing 6-month period	40.96%	35.38%	+5.58%
Volatility (1Y) Calculated over the trailing 1-year period	49.34%	43.80%	+5.54%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	52.82%	51.97%	+0.85%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	61.61%	59.19%	+2.42%

DUSL vs. UTSL - Expense Ratio Comparison

DUSL has a 1.01% expense ratio, which is higher than UTSL's 0.99% expense ratio.

Dividends

DUSL vs. UTSL - Dividend Comparison

DUSL's dividend yield for the trailing twelve months is around 7.75%, more than UTSL's 1.67% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
DUSL Direxion Daily Industrials Bull 3X Shares	7.75%	11.39%	6.61%	1.28%	0.66%	0.07%	0.48%	1.01%	1.46%	0.57%
UTSL Direxion Daily Utilities Bull 3X Shares	1.67%	1.69%	1.61%	3.61%	1.15%	1.19%	1.40%	5.01%	1.46%	0.57%

Frequently Asked Questions

Can I hold both DUSL and UTSL in my portfolio?

DUSL and UTSL have a correlation of 0.36, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, DUSL or UTSL?

DUSL has higher volatility (17.61%) compared to UTSL (15.89%). In terms of maximum drawdown, DUSL dropped -85.74% vs UTSL's -79.55%.

Which ETF is better, DUSL or UTSL?

On 5-year performance, DUSL leads with 23.43% vs 11.70% for UTSL. On fees, UTSL is cheaper at 0.99% per year. On volatility, UTSL has been the lower-risk option at 15.89%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, DUSL or UTSL?

Over the 5-year period, DUSL has performed better with a 23.43% return vs 11.70%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, DUSL or UTSL?

UTSL is cheaper with a 0.99% expense ratio, compared with 1.01% for DUSL.

Which ETF pays a higher dividend yield, DUSL or UTSL?

DUSL has the higher dividend yield at 7.75%, compared with 1.67% for UTSL.

What is the main difference between DUSL and UTSL?

DUSL tracks Industrials Select Sector Index (300%), while UTSL tracks Utilities Select Sector Index (300%). Their fees differ too: 1.01% for DUSL and 0.99% for UTSL.

Which has better risk-adjusted returns?

DUSL currently has the higher Sharpe Ratio (1.69 vs 0.61), 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.