{
 "ticker": "UTSL",
 "name": "Direxion Daily Utilities Bull 3X ETF",
 "issuer": "Direxion",
 "desk": "leverage",
 "url": "https://etfiq.com/funds/utsl",
 "html": "https://etfiq.com/funds/utsl",
 "markdown": "https://etfiq.com/funds/utsl.md",
 "as_of": "2026-09-30",
 "verdict": "Three months to Sep 30, 2026: UTSL returned \u221233.0% where its own daily promise gave \u221231.2%, 1.8 points short.",
 "key_facts": [
  {
   "key": "what_xlu_did",
   "label": "What XLU did",
   "value": "\u221211.3%",
   "source": null,
   "as_of": "2026-09-30",
   "sentence": "UTSL, what XLU did: \u221211.3%, as of Sep 30, 2026."
  },
  {
   "key": "what_3_times_a_day_gives",
   "label": "What 3 times a day gives",
   "value": "\u221231.2%",
   "source": null,
   "as_of": "2026-09-30",
   "sentence": "UTSL, what 3 times a day gives: \u221231.2%, as of Sep 30, 2026."
  },
  {
   "key": "what_the_fund_returned",
   "label": "What the fund returned",
   "value": "\u221233.0%",
   "source": null,
   "as_of": "2026-09-30",
   "sentence": "UTSL, what the fund returned: \u221233.0%, as of Sep 30, 2026."
  },
  {
   "key": "the_fund_itself_cost",
   "label": "The fund itself cost",
   "value": "\u22121.8 pts",
   "source": null,
   "as_of": "2026-09-30",
   "sentence": "UTSL, the fund itself cost: \u22121.8 pts, as of Sep 30, 2026."
  },
  {
   "key": "net_assets",
   "label": "Net assets",
   "value": "$55m",
   "source": "issuer page, as of Sep 30, 2026",
   "as_of": "2026-09-30",
   "sentence": "UTSL, net assets: $55m (issuer page, as of Sep 30, 2026)."
  },
  {
   "key": "expense_ratio",
   "label": "Expense ratio",
   "value": "0.97%",
   "source": "485BPOS XBRL, Feb 26, 2026",
   "as_of": "2026-09-30",
   "sentence": "UTSL, expense ratio: 0.97% (485BPOS XBRL, Feb 26, 2026)."
  }
 ],
 "fields": [
  {
   "key": "sets_out_to_return",
   "label": "Sets out to return",
   "value": "+3 times the daily move of XLU, reset daily",
   "source": null
  },
  {
   "key": "multiple_a_holder_actually_got_over_the_window",
   "label": "Multiple a holder actually got over the window",
   "value": "+2.93 times, against +3 stated",
   "source": "ETFIQ"
  },
  {
   "key": "underlying",
   "label": "Underlying",
   "value": "XLU",
   "source": null
  },
  {
   "key": "segment",
   "label": "Segment",
   "value": "sector or country, sector",
   "source": null
  },
  {
   "key": "net_assets",
   "label": "Net assets",
   "value": "$55m",
   "source": "issuer page, as of Sep 30, 2026"
  },
  {
   "key": "expense_ratio",
   "label": "Expense ratio",
   "value": "0.97%",
   "source": "485BPOS XBRL, Feb 26, 2026"
  },
  {
   "key": "launched",
   "label": "Launched",
   "value": "May 3, 2017",
   "source": null
  },
  {
   "key": "underlying_volatility_over_the_window",
   "label": "Underlying volatility over the window",
   "value": "14% annualized",
   "source": "ETFIQ"
  }
 ],
 "periods": [
  {
   "window": "1 month",
   "Fund": "\u221217.9%",
   "XLU": "\u22125.9%",
   "+3x the move": "\u221217.8%",
   "Difference": "\u22120.1 pts",
   "XLU moved about": "14%"
  },
  {
   "window": "3 months",
   "Fund": "\u221233.0%",
   "XLU": "\u221211.3%",
   "+3x the move": "\u221233.8%",
   "Difference": "+0.8 pts",
   "XLU moved about": "14%"
  },
  {
   "window": "6 months",
   "Fund": "\u221240.3%",
   "XLU": "\u221213.3%",
   "+3x the move": "\u221239.9%",
   "Difference": "\u22120.5 pts",
   "XLU moved about": "16%"
  },
  {
   "window": "1 year",
   "Fund": "\u221232.3%",
   "XLU": "\u22127.0%",
   "+3x the move": "\u221220.9%",
   "Difference": "\u221211.3 pts",
   "XLU moved about": "15%"
  },
  {
   "window": "3 years",
   "Fund": "+74.8%",
   "XLU": "+46.3%",
   "+3x the move": "+139.0%",
   "Difference": "\u221264.2 pts",
   "XLU moved about": "16%"
  },
  {
   "window": "Since launch",
   "Fund": "+44.7%",
   "XLU": "+107.2%",
   "+3x the move": "not meaningful over this window",
   "Difference": "not meaningful over this window",
   "XLU moved about": "20%"
  }
 ],
 "questions": [
  {
   "q": "Did UTSL return +3 times XLU?",
   "a": "Over the window to Sep 30, 2026, XLU moved \u221211.3% and UTSL returned \u221233.0%. 3 times that move is \u221233.8%, so the fund came out 0.8 points ahead of it."
  },
  {
   "q": "Why does UTSL not return +3 times over a year?",
   "a": "Because it resets daily. UTSL aims at +3 times each day's move, and daily results compound. Over a run where the underlying falls and comes back, compounding a levered daily return leaves a holder behind what +3 times the period move would suggest; over a steady run in one direction it can leave them ahead. The longer the holding, and the more the underlying moves about, the further apart the two figures get."
  }
 ],
 "generated": "2026-10-01",
 "license": "https://etfiq.com/license/",
 "license_text": "Free to use with attribution. ETFIQ (etfiq.com)."
}