UTSL vs. YCS
UTSL (Direxion Daily Utilities Bull 3X Shares) and YCS (ProShares UltraShort Yen) are both exchange-traded funds - UTSL is a Leveraged Equities fund tracking the Utilities Select Sector Index (300%), while YCS is a Leveraged Currency fund tracking the USD/JPY Exchange Rate (-200%). Both are passively managed. Over the past 5 years, UTSL returned 8.32%/yr vs 23.54%/yr for YCS. At a correlation of -0.08, they often move in opposite directions. UTSL charges 0.99%/yr vs 1.00%/yr for YCS.
Performance
UTSL vs. YCS - Performance Comparison
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Returns By Period
In the year-to-date period, UTSL achieves a 1.14% return, which is significantly lower than YCS's 7.17% return.
UTSL
- 1D
- -1.50%
- 1M
- -17.87%
- YTD
- 1.14%
- 6M
- -5.29%
- 1Y
- 9.70%
- 3Y*
- 20.67%
- 5Y*
- 8.32%
- 10Y*
- —
YCS
- 1D
- 0.17%
- 1M
- 4.42%
- YTD
- 7.17%
- 6M
- 10.05%
- 1Y
- 32.82%
- 3Y*
- 19.84%
- 5Y*
- 23.54%
- 10Y*
- 12.34%
UTSL vs. YCS - 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% |
YCS ProShares UltraShort Yen | 7.17% | 9.04% | 35.41% | 28.70% | 29.09% | 22.38% | -11.18% | 3.37% | -1.49% | 0.90% |
Correlation
The correlation between UTSL and YCS is -0.17, 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 | -0.17 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.16 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.14 |
Correlation (All Time) Calculated using the full available price history since May 4, 2017 | -0.08 |
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Return for Risk
UTSL vs. YCS — Risk / Return Rank
UTSL
YCS
UTSL vs. YCS - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Direxion Daily Utilities Bull 3X Shares (UTSL) and ProShares UltraShort Yen (YCS). 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 | YCS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.70 | ||
| Sortino ratioReturn per unit of downside risk | -1.84 | ||
| Omega ratioGain probability vs. loss probability | 1.07 | 1.35 | -0.28 |
| Calmar ratioReturn relative to maximum drawdown | 0.34 | 3.97 | -3.63 |
| Martin ratioReturn relative to average drawdown | 0.73 | 12.40 | -11.66 |
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 | YCS | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.22 | 1.92 | -1.70 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.16 | 1.12 | -0.96 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.65 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.13 | 0.33 | -0.20 |
Drawdowns
UTSL vs. YCS - Drawdown Comparison
The maximum UTSL drawdown since its inception was -79.55%, which is greater than YCS's maximum drawdown of -49.56%. Use the drawdown chart below to compare losses from any high point for UTSL and YCS.
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Drawdown Indicators
| UTSL | YCS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -79.55% | -49.56% | -29.99% |
Max Drawdown (1Y)Largest decline over 1 year | -28.45% | -8.30% | -20.15% |
Max Drawdown (3Y)Largest decline over 3 years | -46.22% | -23.05% | -23.17% |
Max Drawdown (5Y)Largest decline over 5 years | -68.01% | -27.32% | -40.69% |
Max Drawdown (10Y)Largest decline over 10 years | — | -27.32% | — |
Current DrawdownCurrent decline from peak | -25.53% | 0.00% | -25.53% |
Average DrawdownAverage peak-to-trough decline | -33.23% | -19.93% | -13.30% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 13.34% | 2.66% | +10.68% |
Volatility
UTSL vs. YCS - Volatility Comparison
Direxion Daily Utilities Bull 3X Shares (UTSL) has a higher volatility of 16.50% compared to ProShares UltraShort Yen (YCS) at 2.75%. This indicates that UTSL's price experiences larger fluctuations and is considered to be riskier than YCS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| UTSL | YCS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 16.50% | 2.75% | +13.75% |
Volatility (6M)Calculated over the trailing 6-month period | 34.86% | 12.32% | +22.54% |
Volatility (1Y)Calculated over the trailing 1-year period | 43.41% | 17.27% | +26.14% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 52.02% | 21.10% | +30.92% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 59.28% | 19.01% | +40.27% |
UTSL vs. YCS - Expense Ratio Comparison
UTSL has a 0.99% expense ratio, which is lower than YCS's 1.00% expense ratio.
Dividends
UTSL vs. YCS - Dividend Comparison
UTSL's dividend yield for the trailing twelve months is around 1.80%, while YCS has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
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% |
YCS ProShares UltraShort Yen | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
UTSL and YCS have a correlation of -0.17, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
UTSL has higher volatility (16.50%) compared to YCS (2.75%). In terms of maximum drawdown, UTSL dropped -79.55% vs YCS's -49.56%.
On 5-year performance, YCS leads with 23.54% vs 8.32% for UTSL. On fees, UTSL is cheaper at 0.99% per year. On volatility, YCS has been the lower-risk option at 2.75%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, YCS has performed better with a 23.54% return vs 8.32%. 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 1.00% for YCS.
UTSL has the higher dividend yield at 1.80%, compared with 0.00% for YCS.
UTSL is categorized as Leveraged Equities, while YCS is Leveraged Currency. UTSL tracks Utilities Select Sector Index (300%), while YCS tracks USD/JPY Exchange Rate (-200%). They also come from different issuers: Direxion and ProShares. Their fees differ too: 0.99% for UTSL and 1.00% for YCS.
YCS currently has the higher Sharpe Ratio (1.92 vs 0.22), 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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