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UTSL vs. UMDD
Performance
Return for Risk
Drawdowns
Volatility
Dividends

UTSL vs. UMDD

Last updated Jun 13, 2026

UTSL (Direxion Daily Utilities Bull 3X Shares) and UMDD (ProShares UltraPro MidCap400) are both Leveraged Equities funds - UTSL tracks the Utilities Select Sector Index (300%) while UMDD tracks the S&P MidCap 400 Index (300%). Both are passively managed. Over the past 5 years, UTSL returned 8.66%/yr vs 2.41%/yr for UMDD. At a 0.36 correlation, their price movements are largely independent. UTSL charges 0.99%/yr vs 0.95%/yr for UMDD.

Performance

UTSL vs. UMDD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Direxion Daily Utilities Bull 3X Shares (UTSL) and ProShares UltraPro MidCap400 (UMDD). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, UTSL achieves a 6.35% return, which is significantly lower than UMDD's 41.42% return.

UTSL

1D
3.20%
1M
-2.77%
YTD
6.35%
6M
6.90%
1Y
18.04%
3Y*
20.77%
5Y*
8.66%
10Y*
—

UMDD

1D
2.20%
1M
10.73%
YTD
41.42%
6M
35.75%
1Y
66.43%
3Y*
23.57%
5Y*
2.41%
10Y*
12.78%
*Multi-year figures are annualized to reflect compound growth (CAGR)

UTSL vs. UMDD - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
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%
UMDD
ProShares UltraPro MidCap400		41.42%-2.57%19.68%27.21%-49.60%72.27%-17.30%78.90%-40.29%32.21%

Correlation

The correlation between UTSL and UMDD is 0.28, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.28

Correlation (3Y)
Calculated over the trailing 3-year period

0.36

Correlation (5Y)
Calculated over the trailing 5-year period

0.39

Correlation (All Time)
Calculated using the full available price history since May 3, 2017

0.36

The correlation between UTSL and UMDD shifts across timeframes, from 0.28 (1 year) to 0.39 (5 years), reflecting how their relationship changes across market environments.

UTSL vs. UMDD - Sectors Allocation Comparison

Sectors
UTSL
UMDD

Utilities

100.0%
1.6%

Basic Materials

-

2.6%

Communication Services

-

0.5%

Consumer Cyclical

-

5.1%

Consumer Defensive

-

2.2%

Energy

-

2.7%

Financial Services

-

7.1%

Healthcare

-

4.8%

Industrials

-

13.4%

Real Estate

-

3.9%

Technology

-

9.0%

Utilities

UTSL
100.0%
UMDD
1.6%

Basic Materials

UTSL

-

UMDD
2.6%

Communication Services

UTSL

-

UMDD
0.5%

Consumer Cyclical

UTSL

-

UMDD
5.1%

Consumer Defensive

UTSL

-

UMDD
2.2%

Energy

UTSL

-

UMDD
2.7%

Financial Services

UTSL

-

UMDD
7.1%

Healthcare

UTSL

-

UMDD
4.8%

Industrials

UTSL

-

UMDD
13.4%

Real Estate

UTSL

-

UMDD
3.9%

Technology

UTSL

-

UMDD
9.0%

Compare stocks, funds, or ETFs

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Direxion Daily Utilities Bull 3X Shares

ProShares UltraPro MidCap400

Often compared with UTSL:
UTSL vs. UPWUTSL vs. XLUUTSL vs. CUREUTSL vs. SOXLUTSL vs. UPROUTSL vs. TECLUTSL vs. WTIU
Often compared with UMDD:
UMDD vs. MIDUUMDD vs. SMDDUMDD vs. MVVUMDD vs. SAAUMDD vs. TQQQUMDD vs. MDYUMDD vs. UPRO

Return for Risk

UTSL vs. UMDD — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
UTSL
UTSL Risk / Return Rank: 1717
Overall Rank
UTSL Sharpe Ratio Rank: 1717
Sharpe Ratio Rank
UTSL Sortino Ratio Rank: 1818
Sortino Ratio Rank
UTSL Omega Ratio Rank: 1818
Omega Ratio Rank
UTSL Calmar Ratio Rank: 1818
Calmar Ratio Rank
UTSL Martin Ratio Rank: 1616
Martin Ratio Rank
UMDD
UMDD Risk / Return Rank: 4949
Overall Rank
UMDD Sharpe Ratio Rank: 4545
Sharpe Ratio Rank
UMDD Sortino Ratio Rank: 4545
Sortino Ratio Rank
UMDD Omega Ratio Rank: 4343
Omega Ratio Rank
UMDD Calmar Ratio Rank: 5858
Calmar Ratio Rank
UMDD Martin Ratio Rank: 5656
Martin Ratio Rank
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. UMDD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Direxion Daily Utilities Bull 3X Shares (UTSL) and ProShares UltraPro MidCap400 (UMDD). 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.

UTSLUMDDDifference
Sharpe ratioReturn per unit of total volatility
0.42
1.40

-0.99

Sortino ratioReturn per unit of downside risk
0.83
2.01

-1.18

Omega ratioGain probability vs. loss probability

1.10

1.24

-0.14

Calmar ratioReturn relative to maximum drawdown

0.64

2.56

-1.93

Martin ratioReturn relative to average drawdown

1.30

8.58

-7.28

UTSL vs. UMDD - Sharpe Ratio Comparison

The current UTSL Sharpe Ratio is 0.42, which is lower than the UMDD Sharpe Ratio of 1.40. The chart below compares the historical Sharpe Ratios of UTSL and UMDD, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

UTSL vs. UMDD - Drawdown Comparison

The maximum UTSL drawdown since its inception was -79.55%, smaller than the maximum UMDD drawdown of -86.24%. Use the drawdown chart below to compare losses from any high point for UTSL and UMDD.

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Drawdown Indicators

UTSLUMDDDifference

Max Drawdown

Largest peak-to-trough decline

-79.55%

-86.24%

+6.69%

Max Drawdown (1Y)

Largest decline over 1 year

-28.45%

-26.04%

-2.41%

Max Drawdown (3Y)

Largest decline over 3 years

-46.22%

-60.33%

+14.11%

Max Drawdown (5Y)

Largest decline over 5 years

-68.01%

-64.61%

-3.40%

Max Drawdown (10Y)

Largest decline over 10 years

—

-86.24%

—

Current Drawdown

Current decline from peak

-21.69%

-3.15%

-18.54%

Average Drawdown

Average peak-to-trough decline

-33.19%

-23.58%

-9.61%

Ulcer Index

Depth and duration of drawdowns from previous peaks

13.87%

7.78%

+6.09%

Volatility

UTSL vs. UMDD - Volatility Comparison

Direxion Daily Utilities Bull 3X Shares (UTSL) has a higher volatility of 17.03% compared to ProShares UltraPro MidCap400 (UMDD) at 14.80%. This indicates that UTSL's price experiences larger fluctuations and is considered to be riskier than UMDD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

UTSLUMDDDifference

Volatility (1M)

Calculated over the trailing 1-month period

17.03%

14.80%

+2.23%

Volatility (6M)

Calculated over the trailing 6-month period

35.33%

35.26%

+0.07%

Volatility (1Y)

Calculated over the trailing 1-year period

43.73%

47.64%

-3.91%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

52.08%

59.05%

-6.97%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

59.23%

62.32%

-3.09%

UTSL vs. UMDD - Expense Ratio Comparison

UTSL has a 0.99% expense ratio, which is higher than UMDD's 0.95% expense ratio.

Dividends

UTSL vs. UMDD - Dividend Comparison

UTSL's dividend yield for the trailing twelve months is around 1.71%, more than UMDD's 0.74% yield.

PositionTTM20252024202320222021202020192018201720162015
UMDD
ProShares UltraPro MidCap400		0.74%1.00%0.76%0.19%0.49%0.06%0.08%0.64%0.32%0.00%0.03%0.06%
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

UTSL and UMDD have a correlation of 0.28, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

UTSL has higher volatility (17.03%) compared to UMDD (14.80%). In terms of maximum drawdown, UTSL dropped -79.55% vs UMDD's -86.24%.

On 5-year performance, UTSL leads with 8.66% vs 2.41% for UMDD. On fees, UMDD is cheaper at 0.95% per year. On volatility, UMDD has been the lower-risk option at 14.80%. 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 8.66% return vs 2.41%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

UMDD is cheaper with a 0.95% expense ratio, compared with 0.99% for UTSL.

UTSL has the higher dividend yield at 1.71%, compared with 0.74% for UMDD.

UTSL tracks Utilities Select Sector Index (300%), while UMDD tracks S&P MidCap 400 Index (300%). They also come from different issuers: Direxion and ProShares. Their fees differ too: 0.99% for UTSL and 0.95% for UMDD.

UMDD currently has the higher Sharpe Ratio (1.40 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.

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