UTSL vs. UYM

Last updated Jun 13, 2026

UTSL (Direxion Daily Utilities Bull 3X Shares) and UYM (ProShares Ultra Basic Materials) are both Leveraged Equities funds - UTSL tracks the Utilities Select Sector Index (300%) while UYM tracks the Dow Jones U.S. Basic Materials Index (200%). Both are passively managed. Over the past 5 years, UTSL returned 8.66%/yr vs 4.60%/yr for UYM. At a 0.33 correlation, their price movements are largely independent. UTSL charges 0.99%/yr vs 0.95%/yr for UYM.

Performance

UTSL vs. UYM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Direxion Daily Utilities Bull 3X Shares (UTSL) and ProShares Ultra Basic Materials (UYM). 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 UYM's 27.95% return.

UTSL

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

UYM

• 1D: 3.74%
• 1M: 1.10%
• YTD: 27.95%
• 6M: 30.38%
• 1Y: 36.06%
• 3Y*: 11.85%
• 5Y*: 4.60%
• 10Y*: 12.48%

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

UTSL vs. UYM - 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%
UYM ProShares Ultra Basic Materials	27.95%	9.46%	-8.00%	17.47%	-23.10%	54.58%	16.56%	35.09%	-35.68%	32.85%

Correlation

The correlation between UTSL and UYM is 0.33, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.33
Correlation (3Y) Calculated over the trailing 3-year period	0.40
Correlation (5Y) Calculated over the trailing 5-year period	0.40
Correlation (All Time) Calculated using the full available price history since May 3, 2017	0.33

UTSL vs. UYM - Sectors Allocation Comparison

Sectors	UTSL	UYM
Utilities	100.0%	-
Basic Materials	-	87.6%
Communication Services	-	-
Consumer Cyclical	-	12.4%
Consumer Defensive	-	-
Energy	-	-
Financial Services	-	-
Healthcare	-	-
Industrials	-	1.1%
Real Estate	-	-
Technology	-	-

Return for Risk

UTSL vs. UYM — 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

UYM

UYM Risk / Return Rank: 29
UYM Sharpe Ratio Rank: 29
UYM Sortino Ratio Rank: 30
UYM Omega Ratio Rank: 28
UYM Calmar Ratio Rank: 31
UYM Martin Ratio Rank: 29

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. UYM - 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 Basic Materials (UYM). 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	UYM	Difference
Sharpe ratio: Return per unit of total volatility	0.42	0.94	-0.52
Sortino ratio: Return per unit of downside risk	0.83	1.47	-0.63
Omega ratio: Gain probability vs. loss probability	1.10	1.17	-0.07
Calmar ratio: Return relative to maximum drawdown	0.64	1.38	-0.74
Martin ratio: Return relative to average drawdown	1.30	3.67	-2.36

UTSL vs. UYM - Sharpe Ratio Comparison

The current UTSL Sharpe Ratio is 0.42, which is lower than the UYM Sharpe Ratio of 0.94. The chart below compares the historical Sharpe Ratios of UTSL and UYM, 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. UYM - Drawdown Comparison

The maximum UTSL drawdown since its inception was -79.55%, smaller than the maximum UYM drawdown of -92.77%. Use the drawdown chart below to compare losses from any high point for UTSL and UYM.

Drawdown Indicators

	UTSL	UYM	Difference
Max Drawdown Largest peak-to-trough decline	-79.55%	-92.77%	+13.22%
Max Drawdown (1Y) Largest decline over 1 year	-28.45%	-23.85%	-4.60%
Max Drawdown (3Y) Largest decline over 3 years	-46.22%	-43.88%	-2.34%
Max Drawdown (5Y) Largest decline over 5 years	-68.01%	-48.25%	-19.76%
Max Drawdown (10Y) Largest decline over 10 years	—	-73.31%	—
Current Drawdown Current decline from peak	-21.69%	-7.32%	-14.37%
Average Drawdown Average peak-to-trough decline	-33.19%	-42.06%	+8.87%
Ulcer Index Depth and duration of drawdowns from previous peaks	13.87%	8.95%	+4.92%

Volatility

UTSL vs. UYM - Volatility Comparison

Direxion Daily Utilities Bull 3X Shares (UTSL) has a higher volatility of 17.03% compared to ProShares Ultra Basic Materials (UYM) at 14.01%. This indicates that UTSL's price experiences larger fluctuations and is considered to be riskier than UYM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	UTSL	UYM	Difference
Volatility (1M) Calculated over the trailing 1-month period	17.03%	14.01%	+3.02%
Volatility (6M) Calculated over the trailing 6-month period	35.33%	27.29%	+8.04%
Volatility (1Y) Calculated over the trailing 1-year period	43.73%	35.09%	+8.64%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	52.08%	39.49%	+12.59%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	59.23%	42.86%	+16.37%

UTSL vs. UYM - Expense Ratio Comparison

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

Dividends

UTSL vs. UYM - Dividend Comparison

UTSL's dividend yield for the trailing twelve months is around 1.71%, more than UYM's 1.19% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
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%
UYM ProShares Ultra Basic Materials	1.19%	1.47%	0.98%	0.28%	0.88%	0.52%	0.56%	1.24%	0.94%	0.38%	0.55%	0.42%

Frequently Asked Questions

Can I hold both UTSL and UYM in my portfolio?

UTSL and UYM have a correlation of 0.33, 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 UYM?

UTSL has higher volatility (17.03%) compared to UYM (14.01%). In terms of maximum drawdown, UTSL dropped -79.55% vs UYM's -92.77%.

Which ETF is better, UTSL or UYM?

On 5-year performance, UTSL leads with 8.66% vs 4.60% for UYM. On fees, UYM is cheaper at 0.95% per year. On volatility, UYM has been the lower-risk option at 14.01%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, UTSL or UYM?

Over the 5-year period, UTSL has performed better with a 8.66% return vs 4.60%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, UTSL or UYM?

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

Which ETF pays a higher dividend yield, UTSL or UYM?

UTSL has the higher dividend yield at 1.71%, compared with 1.19% for UYM.

What is the main difference between UTSL and UYM?

UTSL tracks Utilities Select Sector Index (300%), while UYM tracks Dow Jones U.S. Basic Materials Index (200%). They also come from different issuers: Direxion and ProShares. Their fees differ too: 0.99% for UTSL and 0.95% for UYM.

Which has better risk-adjusted returns?

UYM currently has the higher Sharpe Ratio (0.94 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.