WANT vs. UVIX

Last updated Jul 15, 2026

WANT (Direxion Daily Consumer Discretionary Bull 3X Shares) and UVIX (2x Long VIX Futures ETF) are both exchange-traded funds - WANT is a Leveraged Equities fund tracking the S&P Consumer Discretionary Select Sector Index (-300%), while UVIX is a Volatility fund tracking the Long VIX Futures Index (200% Daily). Both are passively managed. Over the past 3 years, WANT returned 6.02%/yr vs -80.74%/yr for UVIX. At a correlation of -0.65, they often move in opposite directions. WANT charges 0.98%/yr vs 2.78%/yr for UVIX.

Performance

WANT vs. UVIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Direxion Daily Consumer Discretionary Bull 3X Shares (WANT) and 2x Long VIX Futures ETF (UVIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, WANT achieves a -17.53% return, which is significantly higher than UVIX's -49.10% return.

WANT

• 1D: -0.36%
• 1M: -3.03%
• 6M: -26.34%
• YTD: -17.53%
• 1Y: -5.66%
• 3Y*: 6.02%
• 5Y*: -8.98%
• 10Y*: —

UVIX

• 1D: -2.56%
• 1M: -23.11%
• 6M: -48.19%
• YTD: -49.10%
• 1Y: -85.68%
• 3Y*: -80.74%
• 5Y*: —
• 10Y*: —

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

WANT vs. UVIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
WANT Direxion Daily Consumer Discretionary Bull 3X Shares	-17.53%	-6.94%	60.52%	114.43%	-77.52%
UVIX 2x Long VIX Futures ETF	-49.10%	-83.21%	-75.24%	-95.28%	-61.86%

Correlation

The correlation between WANT and UVIX is -0.65, 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	-0.65
Correlation (3Y) Calculated over the trailing 3-year period	-0.66
Correlation (All Time) Calculated using the full available price history since Mar 30, 2022	-0.65

The correlation between WANT and UVIX has been stable across timeframes, ranging from -0.66 to -0.65 - a consistent structural relationship.

Return for Risk

WANT vs. UVIX — Risk / Return Rank

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

WANT

WANT Risk / Return Rank: 9
WANT Sharpe Ratio Rank: 8
WANT Sortino Ratio Rank: 10
WANT Omega Ratio Rank: 10
WANT Calmar Ratio Rank: 8
WANT Martin Ratio Rank: 8

UVIX

UVIX Risk / Return Rank: 2
UVIX Sharpe Ratio Rank: 3
UVIX Sortino Ratio Rank: 1
UVIX Omega Ratio Rank: 1
UVIX Calmar Ratio Rank: 0
UVIX Martin Ratio Rank: 2

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.

WANT vs. UVIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Direxion Daily Consumer Discretionary Bull 3X Shares (WANT) and 2x Long VIX Futures ETF (UVIX). 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.

	WANT	UVIX	Difference
Sharpe ratio: Return per unit of total volatility	-0.10	-0.76	+0.66
Sortino ratio: Return per unit of downside risk	0.24	-1.66	+1.90
Omega ratio: Gain probability vs. loss probability	1.03	0.81	+0.21
Calmar ratio: Return relative to maximum drawdown	-0.14	-1.00	+0.86
Martin ratio: Return relative to average drawdown	-0.33	-1.38	+1.05

WANT vs. UVIX - Sharpe Ratio Comparison

The current WANT Sharpe Ratio is -0.10, which is higher than the UVIX Sharpe Ratio of -0.76. The chart below compares the historical Sharpe Ratios of WANT and UVIX, 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

WANT vs. UVIX - Drawdown Comparison

The maximum WANT drawdown since its inception was -85.89%, smaller than the maximum UVIX drawdown of -99.98%. Use the drawdown chart below to compare losses from any high point for WANT and UVIX.

Drawdown Indicators

	WANT	UVIX	Difference
Max Drawdown Largest peak-to-trough decline	-85.89%	-99.98%	+14.09%
Max Drawdown (1Y) Largest decline over 1 year	-41.27%	-86.11%	+44.84%
Max Drawdown (3Y) Largest decline over 3 years	-63.53%	-99.40%	+35.87%
Max Drawdown (5Y) Largest decline over 5 years	-85.89%	—	—
Current Drawdown Current decline from peak	-60.25%	-99.98%	+39.73%
Average Drawdown Average peak-to-trough decline	-43.28%	-88.73%	+45.45%
Ulcer Index Depth and duration of drawdowns from previous peaks	17.22%	61.87%	-44.65%

Volatility

WANT vs. UVIX - Volatility Comparison

The current volatility for Direxion Daily Consumer Discretionary Bull 3X Shares (WANT) is 17.06%, while 2x Long VIX Futures ETF (UVIX) has a volatility of 26.69%. This indicates that WANT experiences smaller price fluctuations and is considered to be less risky than UVIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	WANT	UVIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	17.06%	26.69%	-9.63%
Volatility (6M) Calculated over the trailing 6-month period	41.67%	87.61%	-45.94%
Volatility (1Y) Calculated over the trailing 1-year period	55.21%	112.52%	-57.31%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	71.13%	135.41%	-64.28%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	71.35%	135.41%	-64.06%

WANT vs. UVIX - Expense Ratio Comparison

WANT has a 0.98% expense ratio, which is lower than UVIX's 2.78% expense ratio.

Dividends

WANT vs. UVIX - Dividend Comparison

WANT's dividend yield for the trailing twelve months is around 0.54%, while UVIX has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
UVIX 2x Long VIX Futures ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
WANT Direxion Daily Consumer Discretionary Bull 3X Shares	0.54%	0.65%	0.61%	0.46%	0.00%	0.00%	0.07%	0.64%

Frequently Asked Questions

Can I hold both WANT and UVIX in my portfolio?

WANT and UVIX have a correlation of -0.65, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, WANT or UVIX?

UVIX has higher volatility (26.69%) compared to WANT (17.06%). In terms of maximum drawdown, WANT dropped -85.89% vs UVIX's -99.98%.

Which ETF is better, WANT or UVIX?

On 3-year performance, WANT leads with 6.02% vs -80.74% for UVIX. On fees, WANT is cheaper at 0.98% per year. On volatility, WANT has been the lower-risk option at 17.06%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, WANT or UVIX?

Over the 3-year period, WANT has performed better with a 6.02% return vs -80.74%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, WANT or UVIX?

WANT is cheaper with a 0.98% expense ratio, compared with 2.78% for UVIX.

Which ETF pays a higher dividend yield, WANT or UVIX?

WANT has the higher dividend yield at 0.54%, compared with 0.00% for UVIX.

What is the main difference between WANT and UVIX?

WANT is categorized as Leveraged Equities, while UVIX is Volatility. WANT tracks S&P Consumer Discretionary Select Sector Index (-300%), while UVIX tracks Long VIX Futures Index (200% Daily). They also come from different issuers: Direxion and Volatility Shares. Their fees differ too: 0.98% for WANT and 2.78% for UVIX.

Which has better risk-adjusted returns?

WANT currently has the higher Sharpe Ratio (-0.10 vs -0.76), 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.