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MIDU vs. UTSL
Performance
Return for Risk
Drawdowns
Volatility
Dividends

MIDU vs. UTSL

Last updated Jun 13, 2026

MIDU (Direxion Daily Mid Cap Bull 3X Shares) and UTSL (Direxion Daily Utilities Bull 3X Shares) are both Leveraged Equities funds from Direxion - MIDU tracks the S&P MidCap 400 Index (300%) while UTSL tracks the Utilities Select Sector Index (300%). Both are passively managed. Over the past 5 years, MIDU returned 2.68%/yr vs 8.66%/yr for UTSL. At a 0.36 correlation, their price movements are largely independent. MIDU charges 1.06%/yr vs 0.99%/yr for UTSL.

Performance

MIDU vs. UTSL - Performance Comparison

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

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Returns By Period

In the year-to-date period, MIDU achieves a 41.54% return, which is significantly higher than UTSL's 6.35% return.

MIDU

1D
1.98%
1M
10.51%
YTD
41.54%
6M
35.51%
1Y
66.94%
3Y*
23.88%
5Y*
2.68%
10Y*
12.76%

UTSL

1D
3.20%
1M
-2.77%
YTD
6.35%
6M
6.90%
1Y
18.04%
3Y*
20.77%
5Y*
8.66%
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

MIDU vs. UTSL - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
MIDU
Direxion Daily Mid Cap Bull 3X Shares		41.54%-2.75%20.32%27.79%-49.27%72.89%-18.31%77.38%-39.21%30.34%
UTSL
Direxion Daily Utilities Bull 3X Shares		6.35%29.03%54.24%-35.55%-14.06%48.16%-38.58%81.07%-2.27%11.00%

Correlation

The correlation between MIDU and UTSL is 0.28, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.28

Correlation (3Y)
Calculated over the trailing 3-year period

0.36

Correlation (5Y)
Calculated over the trailing 5-year period

0.40

Correlation (All Time)
Calculated using the full available price history since May 3, 2017

0.36

The correlation between MIDU and UTSL shifts across timeframes, from 0.28 (1 year) to 0.40 (5 years), reflecting how their relationship changes across market environments.

MIDU vs. UTSL - Sectors Allocation Comparison

Sectors
MIDU
UTSL

Industrials

25.0%

-

Technology

15.7%

-

Financial Services

14.4%

-

Consumer Cyclical

10.7%

-

Healthcare

8.6%

-

Real Estate

7.5%

-

Energy

5.5%

-

Basic Materials

4.8%

-

Consumer Defensive

3.8%

-

Utilities

3.1%
100.0%

Communication Services

1.0%

-

Industrials

MIDU
25.0%
UTSL

-

Technology

MIDU
15.7%
UTSL

-

Financial Services

MIDU
14.4%
UTSL

-

Consumer Cyclical

MIDU
10.7%
UTSL

-

Healthcare

MIDU
8.6%
UTSL

-

Real Estate

MIDU
7.5%
UTSL

-

Energy

MIDU
5.5%
UTSL

-

Basic Materials

MIDU
4.8%
UTSL

-

Consumer Defensive

MIDU
3.8%
UTSL

-

Utilities

MIDU
3.1%
UTSL
100.0%

Communication Services

MIDU
1.0%
UTSL

-

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Direxion Daily Mid Cap Bull 3X Shares

Direxion Daily Utilities Bull 3X Shares

Often compared with MIDU:
MIDU vs. TNAMIDU vs. UMDDMIDU vs. MVVMIDU vs. AMAGXMIDU vs. SPXLMIDU vs. UPROMIDU vs. mdy
Often compared with UTSL:
UTSL vs. UPWUTSL vs. XLUUTSL vs. CUREUTSL vs. SOXLUTSL vs. UPROUTSL vs. TECLUTSL vs. WTIU

Return for Risk

MIDU vs. UTSL — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
MIDU
MIDU Risk / Return Rank: 5050
Overall Rank
MIDU Sharpe Ratio Rank: 4646
Sharpe Ratio Rank
MIDU Sortino Ratio Rank: 4646
Sortino Ratio Rank
MIDU Omega Ratio Rank: 4242
Omega Ratio Rank
MIDU Calmar Ratio Rank: 5959
Calmar Ratio Rank
MIDU Martin Ratio Rank: 5656
Martin Ratio Rank
UTSL
UTSL Risk / Return Rank: 1717
Overall Rank
UTSL Sharpe Ratio Rank: 1717
Sharpe Ratio Rank
UTSL Sortino Ratio Rank: 1818
Sortino Ratio Rank
UTSL Omega Ratio Rank: 1818
Omega Ratio Rank
UTSL Calmar Ratio Rank: 1818
Calmar Ratio Rank
UTSL Martin Ratio Rank: 1616
Martin Ratio Rank
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.

MIDU vs. UTSL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Direxion Daily Mid Cap Bull 3X Shares (MIDU) 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.

MIDUUTSLDifference
Sharpe ratioReturn per unit of total volatility
1.42
0.42

+1.00

Sortino ratioReturn per unit of downside risk
2.03
0.83

+1.20

Omega ratioGain probability vs. loss probability

1.24

1.10

+0.14

Calmar ratioReturn relative to maximum drawdown

2.61

0.64

+1.97

Martin ratioReturn relative to average drawdown

8.65

1.30

+7.35

MIDU vs. UTSL - Sharpe Ratio Comparison

The current MIDU Sharpe Ratio is 1.42, which is higher than the UTSL Sharpe Ratio of 0.42. The chart below compares the historical Sharpe Ratios of MIDU 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.

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Drawdowns

MIDU vs. UTSL - Drawdown Comparison

The maximum MIDU drawdown since its inception was -86.26%, which is greater than UTSL's maximum drawdown of -79.55%. Use the drawdown chart below to compare losses from any high point for MIDU and UTSL.

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Drawdown Indicators

MIDUUTSLDifference

Max Drawdown

Largest peak-to-trough decline

-86.26%

-79.55%

-6.71%

Max Drawdown (1Y)

Largest decline over 1 year

-25.80%

-28.45%

+2.65%

Max Drawdown (3Y)

Largest decline over 3 years

-60.41%

-46.22%

-14.19%

Max Drawdown (5Y)

Largest decline over 5 years

-64.14%

-68.01%

+3.87%

Max Drawdown (10Y)

Largest decline over 10 years

-86.26%

—

—

Current Drawdown

Current decline from peak

-1.48%

-21.69%

+20.21%

Average Drawdown

Average peak-to-trough decline

-22.41%

-33.19%

+10.78%

Ulcer Index

Depth and duration of drawdowns from previous peaks

7.77%

13.87%

-6.10%

Volatility

MIDU vs. UTSL - Volatility Comparison

The current volatility for Direxion Daily Mid Cap Bull 3X Shares (MIDU) is 15.07%, while Direxion Daily Utilities Bull 3X Shares (UTSL) has a volatility of 17.03%. This indicates that MIDU experiences smaller price fluctuations and is considered to be less risky than UTSL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

MIDUUTSLDifference

Volatility (1M)

Calculated over the trailing 1-month period

15.07%

17.03%

-1.96%

Volatility (6M)

Calculated over the trailing 6-month period

34.90%

35.33%

-0.43%

Volatility (1Y)

Calculated over the trailing 1-year period

47.43%

43.73%

+3.70%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

59.59%

52.08%

+7.51%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

63.65%

59.23%

+4.42%

MIDU vs. UTSL - Expense Ratio Comparison

MIDU has a 1.06% expense ratio, which is higher than UTSL's 0.99% expense ratio.

Dividends

MIDU vs. UTSL - Dividend Comparison

MIDU's dividend yield for the trailing twelve months is around 0.63%, less than UTSL's 1.71% yield.

PositionTTM2025202420232022202120202019201820172016
MIDU
Direxion Daily Mid Cap Bull 3X Shares		0.63%1.04%1.10%1.43%0.11%0.00%0.06%0.71%0.70%2.67%1.89%
UTSL
Direxion Daily Utilities Bull 3X Shares		1.71%1.69%1.61%3.61%1.15%1.19%1.40%5.01%1.46%0.57%0.00%

Frequently Asked Questions

MIDU and UTSL have a correlation of 0.28, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

UTSL has higher volatility (17.03%) compared to MIDU (15.07%). In terms of maximum drawdown, MIDU dropped -86.26% vs UTSL's -79.55%.

On 5-year performance, UTSL leads with 8.66% vs 2.68% for MIDU. On fees, UTSL is cheaper at 0.99% per year. On volatility, MIDU has been the lower-risk option at 15.07%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 5-year period, UTSL has performed better with a 8.66% return vs 2.68%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

UTSL is cheaper with a 0.99% expense ratio, compared with 1.06% for MIDU.

UTSL has the higher dividend yield at 1.71%, compared with 0.63% for MIDU.

MIDU tracks S&P MidCap 400 Index (300%), while UTSL tracks Utilities Select Sector Index (300%). Their fees differ too: 1.06% for MIDU and 0.99% for UTSL.

MIDU currently has the higher Sharpe Ratio (1.42 vs 0.42), 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.

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