UTSL vs. SOXS
UTSL (Direxion Daily Utilities Bull 3X Shares) and SOXS (Direxion Daily Semiconductor Bear 3x Shares) are both Leveraged Equities funds from Direxion - UTSL tracks the Utilities Select Sector Index (300%) while SOXS tracks the PHLX Semiconductor Index (-300%). Both are passively managed. Over the past 5 years, UTSL returned 8.32%/yr vs -79.66%/yr for SOXS. At a correlation of -0.15, they often move in opposite directions. UTSL charges 0.99%/yr vs 1.08%/yr for SOXS.
Performance
UTSL vs. SOXS - Performance Comparison
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Returns By Period
In the year-to-date period, UTSL achieves a 1.14% return, which is significantly higher than SOXS's -92.10% return.
UTSL
- 1D
- -1.50%
- 1M
- -17.87%
- YTD
- 1.14%
- 6M
- -5.29%
- 1Y
- 9.70%
- 3Y*
- 20.67%
- 5Y*
- 8.32%
- 10Y*
- —
SOXS
- 1D
- -5.03%
- 1M
- -62.97%
- YTD
- -92.10%
- 6M
- -91.70%
- 1Y
- -97.75%
- 3Y*
- -86.64%
- 5Y*
- -79.66%
- 10Y*
- -78.92%
UTSL vs. SOXS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
UTSL Direxion Daily Utilities Bull 3X Shares | 1.14% | 29.03% | 54.24% | -35.55% | -14.06% | 48.16% | -38.58% | 81.07% | -2.27% | 11.26% |
SOXS Direxion Daily Semiconductor Bear 3x Shares | -92.10% | -85.53% | -59.55% | -84.56% | 15.76% | -80.94% | -92.90% | -83.81% | -19.39% | -55.56% |
Correlation
The correlation between UTSL and SOXS is -0.16, 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 | -0.16 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.10 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.15 |
Correlation (All Time) Calculated using the full available price history since May 4, 2017 | -0.15 |
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Return for Risk
UTSL vs. SOXS — Risk / Return Rank
UTSL
SOXS
UTSL vs. SOXS - 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 Semiconductor Bear 3x Shares (SOXS). 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 | SOXS | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.22 | -0.96 | +1.18 |
Sortino ratioReturn per unit of downside risk | 0.60 | -3.94 | +4.54 |
Omega ratioGain probability vs. loss probability | 1.07 | 0.58 | +0.49 |
Calmar ratioReturn relative to maximum drawdown | 0.34 | -1.00 | +1.34 |
Martin ratioReturn relative to average drawdown | 0.73 | -1.44 | +2.17 |
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 | SOXS | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.22 | -0.96 | +1.18 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.16 | -0.74 | +0.90 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | -0.79 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.13 | -0.79 | +0.92 |
Drawdowns
UTSL vs. SOXS - Drawdown Comparison
The maximum UTSL drawdown since its inception was -79.55%, smaller than the maximum SOXS drawdown of -100.00%. Use the drawdown chart below to compare losses from any high point for UTSL and SOXS.
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Drawdown Indicators
| UTSL | SOXS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -79.55% | -100.00% | +20.45% |
Max Drawdown (1Y)Largest decline over 1 year | -28.45% | -97.68% | +69.23% |
Max Drawdown (3Y)Largest decline over 3 years | -46.22% | -99.80% | +53.58% |
Max Drawdown (5Y)Largest decline over 5 years | -68.01% | -99.97% | +31.96% |
Max Drawdown (10Y)Largest decline over 10 years | — | -100.00% | — |
Current DrawdownCurrent decline from peak | -25.53% | -100.00% | +74.47% |
Average DrawdownAverage peak-to-trough decline | -33.23% | -92.60% | +59.37% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 13.34% | 68.64% | -55.30% |
Volatility
UTSL vs. SOXS - Volatility Comparison
The current volatility for Direxion Daily Utilities Bull 3X Shares (UTSL) is 16.50%, while Direxion Daily Semiconductor Bear 3x Shares (SOXS) has a volatility of 44.22%. This indicates that UTSL experiences smaller price fluctuations and is considered to be less risky than SOXS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| UTSL | SOXS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 16.50% | 44.22% | -27.72% |
Volatility (6M)Calculated over the trailing 6-month period | 34.86% | 83.94% | -49.08% |
Volatility (1Y)Calculated over the trailing 1-year period | 43.41% | 102.18% | -58.77% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 52.02% | 108.21% | -56.19% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 59.28% | 100.48% | -41.20% |
UTSL vs. SOXS - Expense Ratio Comparison
UTSL has a 0.99% expense ratio, which is lower than SOXS's 1.08% expense ratio.
Dividends
UTSL vs. SOXS - Dividend Comparison
UTSL's dividend yield for the trailing twelve months is around 1.80%, less than SOXS's 68.34% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
SOXS Direxion Daily Semiconductor Bear 3x Shares | 68.34% | 10.79% | 5.45% | 9.22% | 0.19% | 0.00% | 3.58% | 2.30% | 0.76% | 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 SOXS have a correlation of -0.16, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SOXS has higher volatility (44.22%) compared to UTSL (16.50%). In terms of maximum drawdown, UTSL dropped -79.55% vs SOXS's -100.00%.
On 5-year performance, UTSL leads with 8.32% vs -79.66% for SOXS. On fees, UTSL is cheaper at 0.99% per year. On volatility, UTSL has been the lower-risk option at 16.50%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, UTSL has performed better with a 8.32% return vs -79.66%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
UTSL is cheaper with a 0.99% expense ratio, compared with 1.08% for SOXS.
SOXS has the higher dividend yield at 68.34%, compared with 1.80% for UTSL.
UTSL tracks Utilities Select Sector Index (300%), while SOXS tracks PHLX Semiconductor Index (-300%). Their fees differ too: 0.99% for UTSL and 1.08% for SOXS.
UTSL currently has the higher Sharpe Ratio (0.22 vs -0.96), 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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