UTSL vs. DBE
UTSL (Direxion Daily Utilities Bull 3X Shares) and DBE (Invesco DB Energy Fund) are both exchange-traded funds - UTSL is a Leveraged Equities fund tracking the Utilities Select Sector Index (300%), while DBE is a Oil & Gas fund tracking the DBIQ Optimum Yield Energy Index. Both are passively managed. Over the past 5 years, UTSL returned 11.50%/yr vs 16.54%/yr for DBE. At a 0.03 correlation, their price movements are largely independent. UTSL charges 0.99%/yr vs 0.78%/yr for DBE.
Performance
UTSL vs. DBE - Performance Comparison
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Returns By Period
In the year-to-date period, UTSL achieves a 15.70% return, which is significantly lower than DBE's 66.08% return.
UTSL
- 1D
- 2.00%
- 1M
- 8.79%
- 6M
- 17.29%
- YTD
- 15.70%
- 1Y
- 24.62%
- 3Y*
- 22.75%
- 5Y*
- 11.50%
- 10Y*
- —
DBE
- 1D
- 6.87%
- 1M
- -1.18%
- 6M
- 62.18%
- YTD
- 66.08%
- 1Y
- 53.22%
- 3Y*
- 17.13%
- 5Y*
- 16.54%
- 10Y*
- 11.15%
UTSL vs. DBE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
UTSL Direxion Daily Utilities Bull 3X Shares | 15.70% | 29.03% | 54.24% | -35.55% | -14.06% | 48.16% | -38.58% | 81.07% | -2.27% | 11.00% |
DBE Invesco DB Energy Fund | 66.08% | -2.17% | 2.96% | -12.14% | 33.77% | 57.56% | -25.91% | 19.72% | -12.95% | 22.20% |
Correlation
The correlation between UTSL and DBE is -0.11, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.11 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.05 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.03 |
Correlation (All Time) Calculated using the full available price history since May 3, 2017 | 0.03 |
The correlation between UTSL and DBE shifts across timeframes, from -0.11 (1 year) to 0.03 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
UTSL vs. DBE — Risk / Return Rank
UTSL
DBE
UTSL vs. DBE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Direxion Daily Utilities Bull 3X Shares (UTSL) and Invesco DB Energy Fund (DBE). 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.
| UTSL | DBE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.93 | ||
| Sortino ratioReturn per unit of downside risk | -1.08 | ||
| Omega ratioGain probability vs. loss probability | 1.12 | 1.26 | -0.14 |
| Calmar ratioReturn relative to maximum drawdown | 0.87 | 2.16 | -1.29 |
| Martin ratioReturn relative to average drawdown | 1.69 | 6.57 | -4.88 |
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Drawdowns
UTSL vs. DBE - Drawdown Comparison
The maximum UTSL drawdown since its inception was -79.55%, smaller than the maximum DBE drawdown of -86.69%. Use the drawdown chart below to compare losses from any high point for UTSL and DBE.
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Drawdown Indicators
| UTSL | DBE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -79.55% | -86.69% | +7.14% |
Max Drawdown (1Y)Largest decline over 1 year | -28.45% | -24.72% | -3.73% |
Max Drawdown (3Y)Largest decline over 3 years | -46.22% | -24.72% | -21.50% |
Max Drawdown (5Y)Largest decline over 5 years | -68.01% | -38.74% | -29.27% |
Max Drawdown (10Y)Largest decline over 10 years | — | -60.84% | — |
Current DrawdownCurrent decline from peak | -14.81% | -36.95% | +22.14% |
Average DrawdownAverage peak-to-trough decline | -33.05% | -57.20% | +24.15% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 14.62% | 8.13% | +6.49% |
Volatility
UTSL vs. DBE - Volatility Comparison
Direxion Daily Utilities Bull 3X Shares (UTSL) and Invesco DB Energy Fund (DBE) have volatilities of 13.07% and 12.49%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| UTSL | DBE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 13.07% | 12.49% | +0.58% |
Volatility (6M)Calculated over the trailing 6-month period | 35.61% | 32.73% | +2.88% |
Volatility (1Y)Calculated over the trailing 1-year period | 44.54% | 36.03% | +8.51% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 52.09% | 29.89% | +22.20% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 59.13% | 28.40% | +30.73% |
UTSL vs. DBE - Expense Ratio Comparison
UTSL has a 0.99% expense ratio, which is higher than DBE's 0.78% expense ratio.
Dividends
UTSL vs. DBE - Dividend Comparison
UTSL's dividend yield for the trailing twelve months is around 1.52%, less than DBE's 2.33% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
DBE Invesco DB Energy Fund | 2.33% | 3.86% | 6.32% | 3.87% | 0.75% | 0.00% | 0.00% | 1.79% | 1.67% | 0.00% |
UTSL Direxion Daily Utilities Bull 3X Shares | 1.52% | 1.69% | 1.61% | 3.61% | 1.15% | 1.19% | 1.40% | 5.01% | 1.46% | 0.57% |
Frequently Asked Questions
UTSL and DBE have a correlation of -0.11, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
UTSL has higher volatility (13.07%) compared to DBE (12.49%). In terms of maximum drawdown, UTSL dropped -79.55% vs DBE's -86.69%.
On 5-year performance, DBE leads with 16.54% vs 11.50% for UTSL. On fees, DBE is cheaper at 0.78% per year. On volatility, DBE has been the lower-risk option at 12.49%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, DBE has performed better with a 16.54% return vs 11.50%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
DBE is cheaper with a 0.78% expense ratio, compared with 0.99% for UTSL.
DBE has the higher dividend yield at 2.33%, compared with 1.52% for UTSL.
UTSL is categorized as Leveraged Equities, while DBE is Oil & Gas. UTSL tracks Utilities Select Sector Index (300%), while DBE tracks DBIQ Optimum Yield Energy Index. They also come from different issuers: Direxion and Invesco. Their fees differ too: 0.99% for UTSL and 0.78% for DBE.
DBE currently has the higher Sharpe Ratio (1.49 vs 0.56), 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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