UTSL vs. UPW
Compare and contrast key facts about Direxion Daily Utilities Bull 3X Shares (UTSL) and ProShares Ultra Utilities (UPW).
UTSL and UPW are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. UTSL is a passively managed fund by Direxion that tracks the performance of the Utilities Select Sector Index (300%). It was launched on May 3, 2017. UPW is a passively managed fund by ProShares that tracks the performance of the Dow Jones U.S. Utilities Index (200%). It was launched on Jan 30, 2007. Both UTSL and UPW are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Performance
UTSL vs. UPW - Performance Comparison
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UTSL vs. UPW - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
UTSL Direxion Daily Utilities Bull 3X Shares | 20.69% | 29.03% | 54.24% | -35.55% | -14.06% | 48.16% | -38.58% | 81.07% | -2.27% | 11.26% |
UPW ProShares Ultra Utilities | 14.41% | 23.61% | 37.67% | -22.37% | -4.59% | 32.57% | -17.15% | 48.59% | 2.36% | 8.81% |
Returns By Period
In the year-to-date period, UTSL achieves a 20.69% return, which is significantly higher than UPW's 14.41% return.
UTSL
- 1D
- -0.75%
- 1M
- -11.14%
- YTD
- 20.69%
- 6M
- 11.50%
- 1Y
- 42.18%
- 3Y*
- 21.90%
- 5Y*
- 13.39%
- 10Y*
- —
UPW
- 1D
- -0.37%
- 1M
- -7.21%
- YTD
- 14.41%
- 6M
- 9.25%
- 1Y
- 30.87%
- 3Y*
- 18.27%
- 5Y*
- 12.78%
- 10Y*
- 11.18%
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UTSL vs. UPW - Expense Ratio Comparison
UTSL has a 0.99% expense ratio, which is higher than UPW's 0.95% expense ratio.
Return for Risk
UTSL vs. UPW — Risk / Return Rank
UTSL
UPW
UTSL vs. UPW - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Direxion Daily Utilities Bull 3X Shares (UTSL) and ProShares Ultra Utilities (UPW). 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 | UPW | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.90 | 0.99 | -0.09 |
Sortino ratioReturn per unit of downside risk | 1.37 | 1.41 | -0.04 |
Omega ratioGain probability vs. loss probability | 1.18 | 1.19 | 0.00 |
Calmar ratioReturn relative to maximum drawdown | 1.67 | 1.78 | -0.11 |
Martin ratioReturn relative to average drawdown | 3.80 | 4.17 | -0.36 |
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 | UPW | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.90 | 0.99 | -0.09 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.26 | 0.38 | -0.12 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.30 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.17 | 0.27 | -0.10 |
Correlation
The correlation between UTSL and UPW is 0.96, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Dividends
UTSL vs. UPW - Dividend Comparison
UTSL's dividend yield for the trailing twelve months is around 1.51%, more than UPW's 1.40% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
UTSL Direxion Daily Utilities Bull 3X Shares | 1.51% | 1.69% | 1.61% | 3.61% | 1.15% | 1.19% | 1.40% | 5.01% | 1.46% | 0.57% | 0.00% | 0.00% |
UPW ProShares Ultra Utilities | 1.40% | 1.67% | 1.83% | 2.40% | 1.55% | 1.30% | 0.83% | 0.83% | 1.98% | 1.51% | 1.70% | 2.16% |
Drawdowns
UTSL vs. UPW - Drawdown Comparison
The maximum UTSL drawdown since its inception was -79.55%, roughly equal to the maximum UPW drawdown of -77.75%. Use the drawdown chart below to compare losses from any high point for UTSL and UPW.
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Drawdown Indicators
| UTSL | UPW | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -79.55% | -77.75% | -1.80% |
Max Drawdown (1Y)Largest decline over 1 year | -27.94% | -18.93% | -9.01% |
Max Drawdown (5Y)Largest decline over 5 years | -68.01% | -49.42% | -18.59% |
Max Drawdown (10Y)Largest decline over 10 years | — | -62.67% | — |
Current DrawdownCurrent decline from peak | -11.14% | -7.21% | -3.93% |
Average DrawdownAverage peak-to-trough decline | -33.61% | -22.71% | -10.90% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 12.30% | 8.09% | +4.21% |
Volatility
UTSL vs. UPW - Volatility Comparison
Direxion Daily Utilities Bull 3X Shares (UTSL) has a higher volatility of 15.69% compared to ProShares Ultra Utilities (UPW) at 10.16%. This indicates that UTSL's price experiences larger fluctuations and is considered to be riskier than UPW based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| UTSL | UPW | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 15.69% | 10.16% | +5.53% |
Volatility (6M)Calculated over the trailing 6-month period | 31.12% | 20.93% | +10.19% |
Volatility (1Y)Calculated over the trailing 1-year period | 47.20% | 31.45% | +15.75% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 51.60% | 34.11% | +17.49% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 59.39% | 37.07% | +22.32% |