UYM vs. UTSL

Last updated Jun 13, 2026

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

Performance

UYM vs. UTSL - Performance Comparison

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

Returns By Period

In the year-to-date period, UYM achieves a 27.95% return, which is significantly higher than UTSL's 6.35% return.

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%

UTSL

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

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

UYM vs. UTSL - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
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%
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%

Correlation

The correlation between UYM and UTSL 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

UYM vs. UTSL - Sectors Allocation Comparison

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

Return for Risk

UYM vs. UTSL — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

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

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

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.

UYM vs. UTSL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares Ultra Basic Materials (UYM) and Direxion Daily Utilities Bull 3X Shares (UTSL). 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.

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

UYM vs. UTSL - Sharpe Ratio Comparison

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

UYM vs. UTSL - Drawdown Comparison

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

Drawdown Indicators

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

Volatility

UYM vs. UTSL - Volatility Comparison

The current volatility for ProShares Ultra Basic Materials (UYM) is 14.01%, while Direxion Daily Utilities Bull 3X Shares (UTSL) has a volatility of 17.03%. This indicates that UYM experiences smaller price fluctuations and is considered to be less risky than UTSL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

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

UYM vs. UTSL - Expense Ratio Comparison

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

Dividends

UYM vs. UTSL - Dividend Comparison

UYM's dividend yield for the trailing twelve months is around 1.19%, less than UTSL's 1.71% 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 UYM and UTSL in my portfolio?

UYM and UTSL 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, UYM or UTSL?

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

Which ETF is better, UYM or UTSL?

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, UYM or UTSL?

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, UYM or UTSL?

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

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

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

What is the main difference between UYM and UTSL?

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

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.