UTSL vs. ECLN

Last updated Jul 14, 2026

UTSL (Direxion Daily Utilities Bull 3X Shares) and ECLN (First Trust EIP Carbon Impact ETF) are both exchange-traded funds - UTSL is a Leveraged Equities fund tracking the Utilities Select Sector Index (300%), while ECLN is a Utilities Equities fund actively managed by First Trust. UTSL is passively managed, while ECLN is actively managed. Their correlation of 0.86 suggests significant overlap in exposure. UTSL charges 0.99%/yr vs 0.97%/yr for ECLN.

Performance

UTSL vs. ECLN - Performance Comparison

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

Returns By Period

UTSL

• 1D: 2.00%
• 1M: 8.79%
• 6M: 17.29%
• YTD: 15.70%
• 1Y: 24.62%
• 3Y*: 22.75%
• 5Y*: 11.50%
• 10Y*: —

ECLN

• 1D: —
• 1M: —
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

UTSL vs. ECLN - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
UTSL Direxion Daily Utilities Bull 3X Shares	15.70%	29.03%	54.24%	-35.55%	-14.06%	48.16%	-38.58%	16.34%
ECLN First Trust EIP Carbon Impact ETF	12.96%	16.78%	22.60%	-3.36%	5.28%	12.26%	8.98%	5.66%

Correlation

The correlation between UTSL and ECLN is 0.80, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.80
Correlation (3Y) Calculated over the trailing 3-year period	0.87
Correlation (5Y) Calculated over the trailing 5-year period	0.86
Correlation (All Time) Calculated using the full available price history since Aug 20, 2019	0.86

The correlation between UTSL and ECLN has been stable across timeframes, ranging from 0.80 to 0.87 - a consistent structural relationship.

UTSL vs. ECLN - Sectors Allocation Comparison

Sectors	UTSL	ECLN
Utilities	100.0%	76.4%
Basic Materials	-	-
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Energy	-	16.3%
Financial Services	-	-
Healthcare	-	-
Industrials	-	6.8%
Real Estate	-	-
Technology	-	0.5%

Return for Risk

UTSL vs. ECLN — Risk / Return Rank

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

UTSL

UTSL Risk / Return Rank: 21
UTSL Sharpe Ratio Rank: 20
UTSL Sortino Ratio Rank: 22
UTSL Omega Ratio Rank: 21
UTSL Calmar Ratio Rank: 23
UTSL Martin Ratio Rank: 19

ECLN

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

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.

UTSL vs. ECLN - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Direxion Daily Utilities Bull 3X Shares (UTSL) and First Trust EIP Carbon Impact ETF (ECLN). 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	ECLN	Difference
Sharpe ratio: Return per unit of total volatility	0.56	—	—
Sortino ratio: Return per unit of downside risk	1.01	—	—
Omega ratio: Gain probability vs. loss probability	1.12	—	—
Calmar ratio: Return relative to maximum drawdown	0.87	—	—
Martin ratio: Return relative to average drawdown	1.69	—	—

Drawdowns

Drawdown Indicators

	UTSL	ECLN	Difference
Max Drawdown Largest peak-to-trough decline	-79.55%	—	—
Max Drawdown (1Y) Largest decline over 1 year	-28.45%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-46.22%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-68.01%	—	—
Current Drawdown Current decline from peak	-14.81%	—	—
Average Drawdown Average peak-to-trough decline	-33.05%	—	—
Ulcer Index Depth and duration of drawdowns from previous peaks	14.62%	—	—

Volatility

Volatility by Period

	UTSL	ECLN	Difference
Volatility (1M) Calculated over the trailing 1-month period	13.07%	—	—
Volatility (6M) Calculated over the trailing 6-month period	35.61%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	44.54%	—	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	52.09%	—	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	59.13%	—	—

UTSL vs. ECLN - Expense Ratio Comparison

UTSL has a 0.99% expense ratio, which is higher than ECLN's 0.97% expense ratio.

Dividends

UTSL vs. ECLN - Dividend Comparison

UTSL's dividend yield for the trailing twelve months is around 1.52%, while ECLN has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
ECLN First Trust EIP Carbon Impact ETF	1.43%	1.97%	2.52%	2.54%	1.72%	1.66%	1.68%	0.71%	0.00%	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

Can I hold both UTSL and ECLN in my portfolio?

UTSL and ECLN have a correlation of 0.80, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, UTSL or ECLN?

On fees, ECLN is cheaper at 0.97% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, UTSL or ECLN?

ECLN is cheaper with a 0.97% expense ratio, compared with 0.99% for UTSL.

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

UTSL has the higher dividend yield at 1.52%, compared with 1.43% for ECLN.

What is the main difference between UTSL and ECLN?

UTSL is categorized as Leveraged Equities, while ECLN is Utilities Equities. They also come from different issuers: Direxion and First Trust. Their fees differ too: 0.99% for UTSL and 0.97% for ECLN.