UTSL vs. DUSL

Last updated Aug 2, 2026

UTSL (Direxion Daily Utilities Bull 3X Shares) and DUSL (Direxion Daily Industrials Bull 3X Shares) are both Leveraged Equities funds from Direxion - UTSL tracks the Utilities Select Sector Index (300%) while DUSL tracks the Industrials Select Sector Index (300%). Both are passively managed. Over the past 5 years, UTSL returned 8.32%/yr vs 20.90%/yr for DUSL. Their 0.37 correlation means their historical movements had little consistent relationship. UTSL charges 0.99%/yr vs 1.01%/yr for DUSL.

Performance

UTSL vs. DUSL - Performance Comparison

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

Returns By Period

In the year-to-date period, UTSL achieves a 4.80% return, which is significantly lower than DUSL's 39.99% return.

UTSL

• 1D: -2.23%
• 1M: -10.12%
• 6M: 1.79%
• YTD: 4.80%
• 1Y: 1.29%
• 3Y*: 20.22%
• 5Y*: 8.32%
• 10Y*: —
• ALL TIME*: 8.16%

DUSL

• 1D: 2.43%
• 1M: -7.89%
• 6M: 17.29%
• YTD: 39.99%
• 1Y: 50.01%
• 3Y*: 39.27%
• 5Y*: 20.90%
• 10Y*: —
• ALL TIME*: 18.43%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
DUSL Direxion Daily Industrials Bull 3X Shares	$913.54K	$1.33M	$1.65M
UTSL Direxion Daily Utilities Bull 3X Shares	$4.76M	$4.30M	$4.57M

UTSL vs. DUSL - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
UTSL Direxion Daily Utilities Bull 3X Shares	4.80%	29.03%	54.24%	-35.55%	-14.06%	48.16%	-38.58%	81.07%	-2.27%	11.00%
DUSL Direxion Daily Industrials Bull 3X Shares	39.99%	37.50%	34.75%	37.23%	-31.17%	60.72%	-19.77%	90.70%	-46.28%	47.58%

Correlation

The correlation between UTSL and DUSL is 0.33, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.33
Correlation (3Y) Balances recent behavior with more history.	0.39
Correlation (5Y) Shows whether the relationship held over a longer period.	0.45
Correlation (All Time) Calculated using the full available price history since May 3, 2017	0.37

The correlation between UTSL and DUSL shifts across timeframes, from 0.33 (1 year) to 0.45 (5 years), reflecting how their relationship changes across market environments.

UTSL vs. DUSL - Sectors Allocation Comparison

Sectors	UTSL	DUSL
Utilities	100.0%	1.0%
Basic Materials	-	0.4%
Communication Services	-	-
Consumer Cyclical	-	0.2%
Consumer Defensive	-	-
Energy	-	-
Financial Services	-	-
Healthcare	-	-
Industrials	-	18.8%
Real Estate	-	-
Technology	-	1.2%

Return for Risk

UTSL vs. DUSL — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

UTSL

UTSL Risk / Return Rank: 13
UTSL Sharpe Ratio Rank: 12
UTSL Sortino Ratio Rank: 14
UTSL Omega Ratio Rank: 14
UTSL Calmar Ratio Rank: 12
UTSL Martin Ratio Rank: 11

DUSL

DUSL Risk / Return Rank: 37
DUSL Sharpe Ratio Rank: 34
DUSL Sortino Ratio Rank: 37
DUSL Omega Ratio Rank: 35
DUSL Calmar Ratio Rank: 38
DUSL Martin Ratio Rank: 41

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

UTSL vs. DUSL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Direxion Daily Utilities Bull 3X Shares (UTSL) and Direxion Daily Industrials Bull 3X Shares (DUSL). 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	DUSL	Difference
Sharpe ratio: Return per unit of total volatility	0.03	0.85	-0.82
Sortino ratio: Return per unit of downside risk	0.36	1.41	-1.05
Omega ratio: Gain probability vs. loss probability	1.04	1.17	-0.13
Calmar ratio: Return relative to maximum drawdown	0.05	1.30	-1.25
Martin ratio: Return relative to average drawdown	0.10	4.31	-4.21

UTSL vs. DUSL - Sharpe Ratio Comparison

The current UTSL Sharpe Ratio is 0.03, which is lower than the DUSL Sharpe Ratio of 0.85. The chart below compares the historical Sharpe Ratios of UTSL and DUSL, 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

UTSL vs. DUSL - Drawdown Comparison

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

Drawdown Indicators

	UTSL	DUSL	Difference
Max Drawdown Largest peak-to-trough decline	-79.55%	-85.74%	+6.19%
Max Drawdown (1Y) Largest decline over 1 year	-28.45%	-33.68%	+5.23%
Max Drawdown (3Y) Largest decline over 3 years	-35.97%	-50.86%	+14.89%
Max Drawdown (5Y) Largest decline over 5 years	-68.01%	-58.43%	-9.58%
Current Drawdown Current decline from peak	-22.83%	-10.22%	-12.61%
Average Drawdown Average peak-to-trough decline	-32.96%	-21.74%	-11.22%
Ulcer Index Depth and duration of drawdowns from previous peaks	15.17%	10.13%	+5.04%

Volatility

UTSL vs. DUSL - Volatility Comparison

Direxion Daily Utilities Bull 3X Shares (UTSL) and Direxion Daily Industrials Bull 3X Shares (DUSL) have volatilities of 13.70% and 14.35%, 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.

Volatility by Period

	UTSL	DUSL	Difference
Volatility (1M) Calculated over the trailing 1-month period	13.70%	14.35%	-0.65%
Volatility (6M) Calculated over the trailing 6-month period	36.19%	42.40%	-6.21%
Volatility (1Y) Calculated over the trailing 1-year period	44.78%	51.40%	-6.62%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	52.07%	53.05%	-0.98%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	59.06%	61.54%	-2.48%

UTSL vs. DUSL - Expense Ratio Comparison

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

Dividends

UTSL vs. DUSL - Dividend Comparison

UTSL's dividend yield for the trailing twelve months is around 1.68%, less than DUSL's 8.07% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
DUSL Direxion Daily Industrials Bull 3X Shares	8.07%	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	1.68%	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 UTSL and DUSL in my portfolio?

UTSL and DUSL have a correlation of 0.33, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, UTSL or DUSL?

DUSL has higher volatility (14.35%) compared to UTSL (13.70%). In terms of maximum drawdown, UTSL dropped -79.55% vs DUSL's -85.74%.

Which ETF is better, UTSL or DUSL?

On 5-year performance, DUSL leads with 20.90% vs 8.32% for UTSL. On fees, UTSL is cheaper at 0.99% per year. On volatility, UTSL has been the lower-risk option at 13.70%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, UTSL or DUSL?

Over the 5-year period, DUSL has performed better with a 20.90% return vs 8.32%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, UTSL or DUSL?

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

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

DUSL has the higher dividend yield at 8.07%, compared with 1.68% for UTSL.

What is the main difference between UTSL and DUSL?

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

Which has better risk-adjusted returns?

DUSL currently has the higher Sharpe Ratio (0.85 vs 0.03), 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.