UTSL vs. O

Last updated Jun 13, 2026

UTSL (Direxion Daily Utilities Bull 3X Shares) is Leveraged Equities fund tracking the Utilities Select Sector Index (300%), while O (Realty Income Corporation) is a stock. Over the past 5 years, UTSL returned 8.66%/yr vs 3.49%/yr for O. A 0.53 correlation means they provide meaningful diversification when combined.

Performance

UTSL vs. O - Performance Comparison

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

Returns By Period

In the year-to-date period, UTSL achieves a 6.35% return, which is significantly lower than O's 13.70% return.

UTSL

• 1D: 3.20%
• 1M: -4.35%
• YTD: 6.35%
• 6M: 6.90%
• 1Y: 20.28%
• 3Y*: 20.77%
• 5Y*: 8.66%
• 10Y*: —

O

• 1D: 1.31%
• 1M: 1.67%
• YTD: 13.70%
• 6M: 11.57%
• 1Y: 14.88%
• 3Y*: 6.59%
• 5Y*: 3.49%
• 10Y*: 4.89%

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

UTSL vs. O - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
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%
O Realty Income Corporation	13.70%	12.20%	-2.11%	-4.55%	-7.38%	23.95%	-11.60%	21.27%	15.94%	-0.47%

Correlation

The correlation between UTSL and O is 0.44, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.44
Correlation (3Y) Calculated over the trailing 3-year period	0.49
Correlation (5Y) Calculated over the trailing 5-year period	0.54
Correlation (All Time) Calculated using the full available price history since May 3, 2017	0.53

The correlation between UTSL and O has been stable across timeframes, ranging from 0.44 to 0.54 - a consistent structural relationship.

Return for Risk

UTSL vs. O — Risk / Return Rank

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

UTSL

UTSL Risk / Return Rank: 17
UTSL Sharpe Ratio Rank: 17
UTSL Sortino Ratio Rank: 18
UTSL Omega Ratio Rank: 18
UTSL Calmar Ratio Rank: 18
UTSL Martin Ratio Rank: 16

O

O Risk / Return Rank: 66
O Sharpe Ratio Rank: 71
O Sortino Ratio Rank: 62
O Omega Ratio Rank: 61
O Calmar Ratio Rank: 68
O Martin Ratio Rank: 69

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. O - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Direxion Daily Utilities Bull 3X Shares (UTSL) and Realty Income Corporation (O). 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	O	Difference
Sharpe ratio: Return per unit of total volatility	0.42	0.88	-0.47
Sortino ratio: Return per unit of downside risk	0.83	1.26	-0.42
Omega ratio: Gain probability vs. loss probability	1.10	1.15	-0.05
Calmar ratio: Return relative to maximum drawdown	0.64	1.29	-0.65
Martin ratio: Return relative to average drawdown	1.30	3.12	-1.81

UTSL vs. O - Sharpe Ratio Comparison

The current UTSL Sharpe Ratio is 0.42, which is lower than the O Sharpe Ratio of 0.88. The chart below compares the historical Sharpe Ratios of UTSL and O, 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. O - Drawdown Comparison

The maximum UTSL drawdown since its inception was -79.55%, which is greater than O's maximum drawdown of -48.45%. Use the drawdown chart below to compare losses from any high point for UTSL and O.

Drawdown Indicators

	UTSL	O	Difference
Max Drawdown Largest peak-to-trough decline	-79.55%	-48.45%	-31.10%
Max Drawdown (1Y) Largest decline over 1 year	-28.45%	-11.10%	-17.35%
Max Drawdown (3Y) Largest decline over 3 years	-46.22%	-26.49%	-19.73%
Max Drawdown (5Y) Largest decline over 5 years	-68.01%	-34.48%	-33.53%
Max Drawdown (10Y) Largest decline over 10 years	—	-48.28%	—
Current Drawdown Current decline from peak	-21.69%	-5.94%	-15.75%
Average Drawdown Average peak-to-trough decline	-33.19%	-9.20%	-23.99%
Ulcer Index Depth and duration of drawdowns from previous peaks	13.87%	4.58%	+9.29%

Volatility

UTSL vs. O - Volatility Comparison

Direxion Daily Utilities Bull 3X Shares (UTSL) has a higher volatility of 17.03% compared to Realty Income Corporation (O) at 5.29%. This indicates that UTSL's price experiences larger fluctuations and is considered to be riskier than O based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	UTSL	O	Difference
Volatility (1M) Calculated over the trailing 1-month period	17.03%	5.29%	+11.74%
Volatility (6M) Calculated over the trailing 6-month period	35.33%	11.98%	+23.35%
Volatility (1Y) Calculated over the trailing 1-year period	43.73%	16.21%	+27.52%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	52.08%	18.92%	+33.16%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	59.23%	25.64%	+33.59%

Dividends

UTSL vs. O - Dividend Comparison

UTSL's dividend yield for the trailing twelve months is around 1.71%, less than O's 5.16% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
O Realty Income Corporation	5.16%	6.19%	5.37%	5.33%	4.68%	3.87%	4.51%	3.69%	4.19%	4.45%	4.18%	4.41%
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%	0.00%

Frequently Asked Questions

Can I hold both UTSL and O in my portfolio?

UTSL and O have a correlation of 0.44, 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 O?

UTSL has higher volatility (17.03%) compared to O (5.29%). In terms of maximum drawdown, UTSL dropped -79.55% vs O's -48.45%.

Which has better risk-adjusted returns?

O currently has the higher Sharpe Ratio (0.88 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.