UTSL vs. EVLN
UTSL (Direxion Daily Utilities Bull 3X Shares) and EVLN (Eaton Vance Floating-Rate ETF) are both exchange-traded funds - UTSL is a Leveraged Equities fund tracking the Utilities Select Sector Index (300%), while EVLN is a Bank Loan fund actively managed by Eaton Vance. UTSL is passively managed, while EVLN is actively managed. Over the past year, UTSL returned 9.70% vs 4.86% for EVLN. At a 0.05 correlation, their price movements are largely independent. UTSL charges 0.99%/yr vs 0.60%/yr for EVLN.
Performance
UTSL vs. EVLN - Performance Comparison
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Returns By Period
In the year-to-date period, UTSL achieves a 1.14% return, which is significantly lower than EVLN's 1.37% return.
UTSL
- 1D
- -1.50%
- 1M
- -17.87%
- YTD
- 1.14%
- 6M
- -5.29%
- 1Y
- 9.70%
- 3Y*
- 20.67%
- 5Y*
- 8.32%
- 10Y*
- —
EVLN
- 1D
- -0.04%
- 1M
- 0.66%
- YTD
- 1.37%
- 6M
- 1.73%
- 1Y
- 4.86%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
UTSL vs. EVLN - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
UTSL Direxion Daily Utilities Bull 3X Shares | 1.14% | 29.03% | 85.35% |
EVLN Eaton Vance Floating-Rate ETF | 1.37% | 5.59% | 7.29% |
Correlation
The correlation between UTSL and EVLN is -0.10, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.10 |
Correlation (All Time) Calculated using the full available price history since Feb 9, 2024 | 0.05 |
The correlation between UTSL and EVLN shifts across timeframes, from -0.10 (1 year) to 0.05 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
UTSL vs. EVLN — Risk / Return Rank
UTSL
EVLN
UTSL vs. EVLN - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Direxion Daily Utilities Bull 3X Shares (UTSL) and Eaton Vance Floating-Rate ETF (EVLN). 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.
| UTSL | EVLN | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.38 | ||
| Sortino ratioReturn per unit of downside risk | -3.79 | ||
| Omega ratioGain probability vs. loss probability | 1.07 | 1.55 | -0.48 |
| Calmar ratioReturn relative to maximum drawdown | 0.34 | 2.76 | -2.42 |
| Martin ratioReturn relative to average drawdown | 0.73 | 9.01 | -8.28 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| UTSL | EVLN | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.22 | 2.61 | -2.38 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.16 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.13 | 2.55 | -2.42 |
Drawdowns
UTSL vs. EVLN - Drawdown Comparison
The maximum UTSL drawdown since its inception was -79.55%, which is greater than EVLN's maximum drawdown of -2.78%. Use the drawdown chart below to compare losses from any high point for UTSL and EVLN.
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Drawdown Indicators
| UTSL | EVLN | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -79.55% | -2.78% | -76.77% |
Max Drawdown (1Y)Largest decline over 1 year | -28.45% | -1.77% | -26.68% |
Max Drawdown (3Y)Largest decline over 3 years | -46.22% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -68.01% | — | — |
Current DrawdownCurrent decline from peak | -25.53% | -0.04% | -25.49% |
Average DrawdownAverage peak-to-trough decline | -33.23% | -0.22% | -33.01% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 13.34% | 0.54% | +12.80% |
Volatility
UTSL vs. EVLN - Volatility Comparison
Direxion Daily Utilities Bull 3X Shares (UTSL) has a higher volatility of 16.50% compared to Eaton Vance Floating-Rate ETF (EVLN) at 0.46%. This indicates that UTSL's price experiences larger fluctuations and is considered to be riskier than EVLN based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| UTSL | EVLN | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 16.50% | 0.46% | +16.04% |
Volatility (6M)Calculated over the trailing 6-month period | 34.86% | 1.62% | +33.24% |
Volatility (1Y)Calculated over the trailing 1-year period | 43.41% | 1.89% | +41.52% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 52.02% | 2.43% | +49.59% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 59.28% | 2.43% | +56.85% |
UTSL vs. EVLN - Expense Ratio Comparison
UTSL has a 0.99% expense ratio, which is higher than EVLN's 0.60% expense ratio.
Dividends
UTSL vs. EVLN - Dividend Comparison
UTSL's dividend yield for the trailing twelve months is around 1.80%, less than EVLN's 6.92% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
EVLN Eaton Vance Floating-Rate ETF | 6.92% | 7.28% | 6.41% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
UTSL Direxion Daily Utilities Bull 3X Shares | 1.80% | 1.69% | 1.61% | 3.61% | 1.15% | 1.19% | 1.40% | 5.01% | 1.46% | 0.57% |
Frequently Asked Questions
UTSL and EVLN have a correlation of -0.10, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
UTSL has higher volatility (16.50%) compared to EVLN (0.46%). In terms of maximum drawdown, UTSL dropped -79.55% vs EVLN's -2.78%.
On 1-year performance, UTSL leads with 9.70% vs 4.86% for EVLN. On fees, EVLN is cheaper at 0.60% per year. On volatility, EVLN has been the lower-risk option at 0.46%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, UTSL has performed better with a 9.70% return vs 4.86%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
EVLN is cheaper with a 0.60% expense ratio, compared with 0.99% for UTSL.
EVLN has the higher dividend yield at 6.92%, compared with 1.80% for UTSL.
UTSL is categorized as Leveraged Equities, while EVLN is Bank Loan. They also come from different issuers: Direxion and Eaton Vance. Their fees differ too: 0.99% for UTSL and 0.60% for EVLN.
EVLN currently has the higher Sharpe Ratio (2.61 vs 0.22), 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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